The problem with the Bailout Plan, according to the White House, is that it has the word "bailout" in it! Here's what White House deputy press secretary Tony Fratto prefers us to use instead of the B-word:
To hear the White House tell it, one factor in the House vote yesterday against the administration’s bailout plan – was the word "bailout."
"It’s really unfortunate shorthand for a very complicated issue." says White House deputy press secretary Tony Fratto. He says the administration plan to rescue the financial markets is "not a bailout for Wall Street" and "certainly not a bailout for Wall Street CEOs."
Okay then – what should we call it?
"It’s an effort to fix this problem of a frozen asset class that has implications over our entire economy," said Fratto at the daily White House press briefing. That certainly rolls off the tongue: "an effort to fix the problem of a frozen asset class."