Word: pass
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...worst-case scenario, economic historians may find that all of Paulson's predictions come true, leaving the cost to the Federal Government far greater than the risky $700 billion investment in the private sector. If this comes to pass, the historians will find many people to blame: Paulson and President Bush for failing to explain the plan better. The House leadership for failing to whip enough votes. Even the presidential candidates for failing to use their bully pulpit to force the issue...
Republicans and Democrats talked a lot over the past few days about putting aside their partisan differences for the good of the country to pass a financial markets rescue plan. But they mostly appeared to agree on one thing: that even if they were going to support it, no one much liked the $700 billion bailout bill they had negotiated with the Bush Administration, and certainly no one much wanted to take any credit...
...perhaps it shouldn't have come as such a shock when the House of Representatives failed to pass the bill Monday afternoon, or that the rest of the day was spent in partisan fury and recriminations: Democrats blamed Republicans, Republicans blamed the Dems, the House blamed the Senate, the Senate blamed the House, John McCain blamed Barack Obama, Barack Obama blamed - well, you get the picture. Only one player remained relatively restrained in the aftermath of the defeat, which led to a 777-point free fall for the Dow Jones industrial average, the largest single point drop in history...
...major GOP shortfall, Democrats refused to force 12 of their members to change their votes for a bill that they had just spent the past week renegotiating in order to garner Republican support, dropping several provisions important to Democrats. By 2:05 the vote was done, failing to pass by a margin of 228-205. In the end, Republicans delivered 37%, or 65 of their 199 members, compared with 60% of House Democrats who voted for President Bush's "rescue" plan...
...choices: move the bill further to the right to try and get more GOP votes (but risk alienating more Democrats) or forsake bipartisanship altogether and write a bill they like (with such provisions as more aid to ailing homeowners) that can garner enough Republican votes in the Senate and pass without input, or support, from House Republicans. Pelosi, however, has all along stressed the need to have bipartisan support for such a controversial bill only five weeks before Election Day. And some political observers argue that the Dems have very little incentive to take such a risk now that Republicans...