Allegheny Almanac

Sunday Funnies

Last night's Saturday Night Live:

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McCain Calls for Time Out but Debate Still On Tonight

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NewsHour anchor and executive editor Jim Lehrer will host the the first debate between presidential candidates John McCain and Barack Obama from the University of Mississippi on Friday, Sept. 26 at 9 p.m.

In Warren, Obama supporters will host a debate watch party starting at 8 p.m. at their headquarters in the Tybout House at 117 Market Street. Call (814) 406-4345, (814) 406-4373, (814) 406-4650, or (814) 406-4651 for more info.

see news analysis at TheHill.com:

House GOP holds the cards on bailout bill    

see also: What Happened at the White House Meeting that McCain Called For? at Politico.com            

The Economic Crisis: Obama, Clinton Defend Homeowners, McCain silent on issue

In a commentary article in today's Wall Street Journal, Hillary Rodham Clinton urged Congress to treat the cause of the current crisis, rather than just the symptoms of illiquidity.

She writes:

"First, we must address the skyrocketing rates of mortgage defaults and foreclosures that have buffeted the economy and ignited the credit crisis. Two million homeowners carry mortgages worth more than their homes. They hold $3 trillion in mortgage debt. Nearly three million adjustable-rate mortgages are scheduled for a rate increase in the next two years. Another wave of foreclosures looms."

In addition, she notes:

"We should also put in place a temporary moratorium on foreclosures and freeze rate hikes in adjustable-rate mortgages. We've got to stem the tide of failing mortgages and give the markets time to recover."

To read the entire article by Clinton, use this link.

At a speech delivered today, Republican Presidential Candidate John McCain was silent on help for homeowners in his 5-point bailout plan. Read article.

Obama is calling for helping homeowners in danger of foreclosing. See Article.