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Economy under microscope for voters
9/29/2008 9:42 PM
By: Catie Beck

Experts say the issue will be around for awhile.  
It looks like falling numbers on Wall Street will fall even further as Washington lawmakers argue over what to do with a struggling economy.

"The problem didn't even come about in five years, it was longer than that in the making so how are you going to fix it in five days," Talmadge Heflin of the Texas Public Policy Foundation said.

Many conservative policy groups say they're pleased the plan failed because a quick fix by the government wasn't the best option.

And with an election just over a month away all eyes are watching this issue to decide it.

"It will have to affect it because I believe people still do vote their pocket books," Heflin said.

It looked as though the $700 billion plan might move the issue out of the spotlight before the election, but economic experts say it won't be going anywhere.

"This story is not going to end with this vote, even if they put another rescue package together," Michael Brandl with the University of Texas said.

And many are wondering on a similar note when the market will rebound.
Talmadge Heflin with the Texas Public Policy.  

"The markets are not going to calm down until we get a sense of where we are going … good, bad or indifferent," Brandl said.

Experts are hopeful Americans are thinking more carefully about how they spend.

"Why it's important to save and why it's important to limit the amount of personal debt we take on because that's what's gotten us in to this mess," he said.

The bailout package was backed by both the Democratic and Republican congressional leadership as well as President Bush.
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It failed in the House by a vote of 228-205.



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