$700 Billion Economic Bailout Package

The big breaking news everyday is the economic bailout package. I think Americans are going through and about to go through things in the next few years that are going to make history. Whether it's good or bad, we're still going through exciting times and I love trying to keep up with what's going on with the presidential election and the economy and my fantasy football team :) :) Suze Orman is wonderful at explaining why we are in a financial crisis, we collectively borrowed too much and we can't pay it back. That is why we need the bailout. Here is a portion of an interesting article I read this morning:

"The government bailout of in-the-red U.S. businesses does not come without a price tag for taxpayers"
The financial pinch on taxpayers will begin to sting a little next year. "That's when they'll really have to come up with the money for it," said Roy Long, a Thomasville certified public accountant. How much the bite will hurt taxpayers will be dependent upon who takes national office in January and which political party controls the U.S. House and the U.S. Senate, Long explained. Mike Ryan, a Thomas University adjunct economics professor, compared the Emergency Economic Stabilization Act of 2008, or bailout, to a company selling bad debts to a collection agency.
"If you want to do something for the economy, go to work. Go to work and work hard. Don't worry about the economy," Ryan said.
People who lost money in investments during the recent money turmoil need not expect to take the losses off 2009 federal income taxes. "Unless you sell, you do not incur a loss," Long said.
He said Americans should not panic. "People who panic lose," Long explained.
His advice: Sit back, and be patient.