I am certainly not an economist nor a political science expert, but from what I have read and listened to about the $700 billion bailout, I believe this financial plan, as it stands today, is not a good idea. From what I have seen, the more money and control you give to government, the more they mess things up. The real question though, is how will financial problems leading up to this bailout proposal, and the events after, affect the economy and ultimately the average citizen?

"I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs." Thomas Jefferson, Letter to the Secretary of the Treasury Albert Gallatin (1802)

Newt Gingrich, former Speaker of the House of Representative

"I think this is an appallingly bad plan. I think this will be an engine of corruption."

Gingrich also characterized the bailout as "a nightmare to implement." He added, "I believe it is about as bad as anything I've seen in economic policy since I've been active in public life... I hope it is defeated if it comes to the floor in this form."

Speaking to CNN's Late Edition on Sunday, Congressman Paul said the proposal to allow the federal government to spend up to $700 billion for purchasing bad debt is a 'mistake'.

"We could change our foreign policy. We could take care of our people at home. We could lower taxes... the worst thing that we can do is perpetuate the bad policies that gave us this trouble in the first place,"

In an Associated Press-Knowledge Networks poll, only 30 percent of those surveyed expressed support for the $700 billion bailout. An additional 45 percent were opposed, with 25 percent undecided. The survey was conducted Sept. 25 and had a margin of error or 3.8 percent.

Aides to lawmakers in both parties say telephone calls from constituents are running heavily against the bailout - in some cases nearly 100-1 against, making the vote a potentially tricky one for a candidate in a competitive race.

Of course it really depends on the type of business you have, but in times of economic hardship most businesses need to improve their effectiveness in marketing, follow up and follow through with clients and potential clients, and may need to expand the line of products and/or services they offer.

Adding a secondary income stream that is complimentary to their primary business makes good economic sense and can add more value to customers, increasing referrals and repeat business.

Expanding the targeted area for doing business can make a difference. Even if a business is a traditional "brick and mortar" type, utilizing the power of the internet can increase exposure and income. Creating a website that actually brings your target market to you is important. These days anyone can put up a website pretty easily, but it is just an expensive business card if you don't have the tools to create a site that your target market finds. As a bonus, having a website can be another way to add a secondary passive income stream through Google adsense and affiliate products or services on the site.

In times of economic hardship, statistically network marketing businesses actually do well and often have an increase in business. When people may face downsizing or decrease in income from their job, a person in a network marketing business can provide a solution, increasing their team and providing a win-win.

Those in network marketing and direct sales need to evaluate their products or services well, especially in times of economic hardship. When money is tight products that are considered non-essentials will be more difficult to market, unless your target market is the wealthy who aren't greatly effected by the financial downturn. Having a product or service of value is important anyway, but it is particularly vital in a tough economy.

I created a list of questions to ask when choosing a network marketing or direct sales business to join. The list includes the questions you want to ask and what answers you are looking for.

Some areas are being hit harder in real estate than others since, in some areas housing prices skyrocketed a while back and now are rapidly falling. But even in the areas that haven't been affected as badly, real estate sales are still down. With banks and financial institutions going under or having cut backs, people working in these industries are bound to be concerned about their future income.

One of the things I have learned is the importance of having more than one income source for financial stability. Over the years I have seen people wait until they have lost their jobs and are in a tough financial situation before seeking my advice in choosing a home business. It is much better to be proactive and look for ways to create additional income that are complimentary to what you are currently doing.

UFirst's MoneyMerge Account is an example of a a great program that people in this industry could recommend to their current or past client base. You could simply take part in the refferal program or become an agent. Even those who are too busy to learn or do analysises with potential clients can do split sales with another agent and create a very nice secondary income.

The benefit of course is extra income and the security that if your income should drop too much in your primary business, you have something already started to turn your energy toward and build. SendOutCards is another business that would work hand-and-glove with many businesses.

With declining home prices, increasing expenses, greater difficulty in securing mortgages home ownership can be more difficult and can even appear out of reach to more people. But it is possible to use your own money more effectively so home ownership is possible and owning it free and clear can be excellerated, even in difficult economic conditions.

We just accept the fact that people generally take out a 30 year mortgage, and with compound interest end up paying more than twice the initial price by the time the house is paid off. So even on a 6% interest mortgage, the effective interest rate is over 100%! For the first 5 years, most of your mortgage payment is going to pay interest, with little going to the principle, so financially, you may as well be renting.

There is a better way - What if you could build equity and pay off your mortgage in 1/2 to 1/3 the time:

• without refinancing
• without making extra payments
• without changing your budget

Using this system you get the benefits of home ownership and come way ahead financially - even in a slumping economy. For over 10 years Australia has been utilizing this method and now more than 50% of the mortgages are done this way. The system was recently adapted to the U.S. banking system so now you can use "bankers' math" to your advantage. Whether you currently are paying a mortgage on your home, you have accumulated debt, are wanting to increase your savings for a downpayment or other purchase, this system can help you maximize how you use your money. You can turn the tables and use what the bankers know to use your own money - instead of letting them use it.

I was shocked to learn that the AVERAGE American family would have to file bankruptcy if they went SIX WEEKS without a paycheck and it's not really any better in other parts of the world. In times of economic hardship you want to be in control of your money and have more liquid assets available.

To determine how much quicker you could build equity and pay off you mortgage, I recommend you complete the Money Merge online analysis form with your mortgage figures. It doesn't cost anything but a few minutes of your time - but could save you a lot and have your money working for you - instead of the bank.

If you know other people this would help, refer them to DebtFreeWorks. Think of the impact on the economy if 50% of our citizens were paying off mortgages in ½ to 1/3 of the time and had the money they saved to invest back into the economy?