Congress approved a $700 billion bank bailout Friday, but stocks tumbled as investors worried that the plan wouldn’t be enough to stem the credit crisis or keep the US economy from falling into a recession.
President Bush signed legislation in July that raised the debt ceiling to $10.615 trillion. Meanwhile, the financial bailout legislation passed by the Senate last night would raise the debt ceiling further to $11.315 trillion.
Thank you Mr. Paulson, thank you from my future children and grand children.