Christian economists and policy advisers say they cautiously back the Senate's $700 billion bailout plan that would allow the government to buy troubled assets from financial firms.
The bailout package that included $150 billion in tax breaks passed the Senate Wednesday night, and the House is expected to vote on it today.
"I believe we've got to do something," said Richard Land, president of the Southern Baptist Convention's Ethics and Religious Liberty Commission. "From people who know a lot more about this than I do tell me, we're in the middle of what could be called an economic coronary thrombosis."
Land said on Wednesday that the Senate bill became progressively better every hour. He was pleased that the Senate's bill would curb executive pay, provide relief for another year from the Alternative Minimum Tax, and increase the amount covered by the Federal Deposit Insurance Corporation from $100,000 to $250,000, and set up oversight committees.
"I think a theological perspective would ...1