Palin Great Depression
Sarah Palin has said that the United States risks facing another Great Depression if the Congress doesn't deal with the current financial crisis. Palin made the comment in an interview with Katie Couric from CBS News in New York City on September 23.1 Palin was in New York to meet foreign leaders visiting for the UN General Assembly meeting in September 2008.
Fast Facts
- Said the comment on September 23, 2008
- George W. Bush presented a $700 billion rescue plan for the financial market on September 20, 2008
- Comment was a response to a question from Couric if Palin thought there was a risk for a new Great Depression if the bailout plan was not approved1
- Palin said there was a risk if no action was taken1
- Said other options should be considered to deal with the financial crisis1
The Presidential Candidates on the Bailout Plan
Presidential candidates John McCain, who Palin is running with, and Democratic Party Barack Obama has both said they support a bailout plan, although not necessarily the plan proposed by Bush
On September 24, McCain suggested the presidential debate on September 26 would be put on hold while he and Obama deals with the current financial crisis and work on a bipartisan solution. Obama wanted to go on with the debate as planned and that a president has to be able to deal with several things at the same time.2
The Latest in Political News
Latest News on the Financial Crisis
Treasury Department investing $250 billion in banks
$700B bailout bill passes Congress
FDIC recommends hike
Bailout bill text
Emergency Economic Stabilization Act of 2008
Related Pages on Mahalo
Sarah Palin | The Great Depression | Katie Couric | CBS | Election 2008 | Mortgage Bailout Plan | George W. Bush
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