Bush Administrations Plan

The Bush administration is seeking to buy $700 billion worth of mortgages. They believe that this will help the economy, but i believe that it will be the opposite. This plan not only raises the national debt to around 11.3 trillion dollars, but there is no guarantee that it will even work. Nancy Pelosi, speaker for the house, said “Democrats will work with the administration to ensure that our response to events in the financial markets is swift, but we must insulate Main Street from Wall Street and keep people in their homes.” If the administrations plan does go through then that should be our utmost concern, to help the troubled homeowners. This plan is risky but hopefully it will work, because the administration certainly seems to have the democrats backing according to Nancy Peolsi.