US Congress rejects bailout plan
The US House of Representatives, in a stunning turnabout, has defeated a $US700 billion bail out plan. In total, 140 Democrats and 65 Republicans voted for the legislation, while 95 Democrats and 133 Republicans voted against. The legislation the administration promoted would have allowed the government to buy bad mortgages and other rotten assets held by troubled banks and financial institutions.
US congress approval rating at low
The percentage of voters who give US Congress good or excellent ratings has fallen to historical low in Gallup Poll polling history. This month, just 12% say they have confidence in Congress. This is the lowest level ever for any US institution since Gallup began asking the question 35 years ago. But when pollsters ask if voters think that their local member of Congress deserves to be reelected, the response is usually positive. The United States government is divided into three separate branches—legislative, judicial, and executive—to prevent abuses of power. Congress comes under legislative branch of the US government.
See Also:
New funding for Iraq war.
