Family Expresses Concern Over Bailout Plan

By Jeffrey Smith, News On 6

TULSA, OK -- There is still no agreement on a financial bailout plan.  The latest proposal under consideration will have the government buy up bad mortgage-based assets to keep the economy afloat. Many Americans are outraged over the plan.

The $700 billon is all public money, taxpayer's money. And many people say between rising gas prices and utility costs, this move will punish responsible Americans who've done nothing wrong.

"Hopefully it won't affect me and some other people I know on worker's comp, it won't affect our income coming in," said UPS Driver Reggie Howell.

Howell has been working as a UPS driver for 20 years. But he's injured and he's relying on worker's comp to get by.

"It's pretty frustrating, because you don't know from one week to another if my checks will stop coming, or will they make some kind of response about what's going on or what," said Howell.

"It takes college tuition away from my college fund for my children. More bills, with gas creepin' up around four dollars a gallon, you know. A gallon of milk, $3.50. We can't afford to take on a burden on a $800 tax debt," said Steve Newman.

Newman's got a fiancé, three kids and a house in North Tulsa. He says he doesn't get bogged down in debt and pays his mortgage on time.

"It just doesn't make sense that we have to come around and foot a seven, 800 billion trillion dollar bill as taxpayers, just because company's don't know how to run their own business," said Newman.

Credit counselors say the best thing to do is just wait and see how the market responds to the news.

"If you've got a while before retirement, if you got a long term, than the market's going to come back. It always has," said credit counselor, Tom Simpson.

But still, folks say it's like having the gamblers pay the casino's mistakes in running the place.

"It doesn't seem fair," said Howell.

For Howell, Thursday's news is a tough pill to swallow.

A big question is if people have money tucked away in an account, how much of that money is guaranteed safe, no matter what happens with Wall Street.

Click here, to take a quiz to see how much of your money is insured by the FDIC.