Senate to Vote on Bailout

Reply Wed 1 Oct, 2008 09:06 am
Being a Canadian, I do not understand the full process for a bill to pass in the US.
The Congress voted against this bill, now bush will go to the Senate.

What happens if the Senate votes in favour? Will it pass? or will they need to go back to the congress? Will it have more power to pass if Congress votes angainst it again?

If the Senate can pass this without Congress, what is the point of the Congress. Why not go straight to the Senate?

To me, it seems like a spoiled child, who asked mommy for the key’s to the car and she said no.
So now he runs off to ask daddy.

Please tell me your government doesn’t work this way

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Type: Question • Score: 1 • Views: 1,408 • Replies: 6
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Reply Wed 1 Oct, 2008 09:24 am
Congress is made up of 2 bodies, the senate and the house of representatives. The House failed to pass legislation.

Both bodies have to pass the legislation before it can go to the President to be signed into law.

Normally the House is the first body to pass any spending legislation. It then goes to the Senate which can change it all they want before they pass it. Once both bodies have passed similar legislation it goes to conference committee where the 2 pieces of similar legislation are turned into one. At that point both bodies need to vote on the revised legislation and then it goes to the President.

In this case, the Senate as decided to pass the legislation first because it failed in the House. Anything passed in the Senate would then go to the House. The house can pass it as written or revise it before they pass it.
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Reply Wed 1 Oct, 2008 09:31 am
The Senate is not voting on the same bill. If the Senate passes it, it goes to the House. If the House passes it, it goes to the President. If the House passes it with changes, it goes to committee where a joint version is agreed to, then that version goes to both houses for a vote.
cicerone imposter
Reply Wed 1 Oct, 2008 09:54 am
As engineer has said, it's not the "same" bill; they made some injections into the legislation to sweeten the deal for the taxpayers, but it's still the wrong way to help our economy. The only way to help our economy is to create jobs through Public Works Projects, not bail out one industry of many that makes up our economy, and reward those who created this problem in the first place; the government and the speculators who are the real culprits.

Our government have lost the trust of the electorate, and their voices are now being heard, but congress is determined to push this one-dimensional rescue plan that will only worsen our economy - and the worlds'.

They're gambling with this legislation, because they don't have enough information to make the right decisions, and are still complying with Paulson and Bernanke for this $700 billion dollar package.

If they had any sense of our economy, they would provide cash to the finance institutions immediately to provide cash to the small businesses that makes up our economy. Their eyes have been diverted from the primary engine of our economy, and are still talking about putting all their eggs into one basket that will surely be dropped.

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cicerone imposter
Reply Wed 1 Oct, 2008 03:19 pm
Here's the answer to all of our current finance problems.

Reply Wed 1 Oct, 2008 05:13 pm
@cicerone imposter,
Come on. How many times have we been told the world is about to come to an end. I have heard this same thing every 10 years or so. With the same proof from the bible every time.
cicerone imposter
Reply Wed 1 Oct, 2008 08:19 pm
I know; I'm reminded by all my siblings regularly. They're all christians. FYI, I'm an atheist married to a buddhist.
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