Prof. Ross favors plan by Luigi Zingales, U of Chicago, as better for taxpayers than Paulsonâs bail out plan for WS. He offers students, their families, and others, practical advice as student loan dollars shrink. Apply for loans early!
We also spoke with Penn. Sen. Bob Casey
Produced by Dori Smith
During a conference call for the Obama campaign we asked Pennsylvania Senator Bob Casey if he believed the $700 billion dollar bail out for Wall Street would negate any of the social programs being outlined by Barack Obama:
Sen. Bob Casey: "From my own perspective here and you can get more details from the Obama campaign. The $700 billion dollars that has been talked about, first of all is not, the authority only goes half way, it only goes to $350 billion. Even if there was authority for all $700 billion today this is debt money, in other words the General Fund impact, the same fund that pays for Medicare, Medicaid, Defense, Education, everything, Veteran's Benefits, that's General Fund money and basically what you are paying there is debt service on the $700 billion. You are not paying, it's not a $700 billion drain out of the General Fund and I think that's been lost on a lot of people. But I think that's the reality of it. So you are talking about adding to debt service as opposed to draining the General."
![<?php echo $config['site_title']; ?>](/static/images/rp-navimg.gif)
![Support the <?php echo $config['site_title']; ?>](/static/images/support.png)
