Will You be Economically Secure Next Month? Next Year? Looking Ahead, and Abroad for Answers

If you are looking for the best breakdown of the economic rescue legislation, MSNBC has meticulously gone through it section by section - and posted their breakdown the same way on the web. It has the most detail when compared to other media websites we've surveyed today and last night.

But, as always, our goal is to put you ahead of the curve. Use the above site for a resource, but we want to think about tomorrow, next week, and next month. That's why we think you need to read two articles today: The Wall Street Journal's look at how much U.S. debt China and the Middle East are carrying, and the ramifications... And, former Treasury Secretary Lawrence Summers' Op-Ed which is running simultaneously in the Washington Post and the Financial Times.

At first blush, you might ask - why do these need to be read together? The answer is that they are both about the cost of tomorrow, and what the future will look like.

Here's why you care: The Journal's piece gives an on-the-one-hand, on-the-other-hand analysis of what it means for China to hold $1 Trillion in U.S. debt, not to mention the role of Middle East countries buying stakes in American firms. On the-one-hand holding our debt means if the dollar goes down, they stand to lose too, so they NEED the U.S. to recover. On-the-other should they dump their stake, it will drive the dollar lower. You care because this has the potential for not just being an out of site out of mind impact for Main Street. Instead, this could have foreign policy consequences moving forward. Read the story, you'll be glad you did, and much more in the know.

And, while we are neither endorsing nor disapproving of Summers' argument that because the bailout will mean buying assets (instead of simply giving away money), the next President will actually be able to fund more of his projects - we think you should read it.

Here's why you care: During last week's first presidential debate, moderator Jim Lehrer was wonderfully dogged in trying to get both Senators John McCain and Barack Obama to acknowledge what of their campaign-promise-to-do list will simply not get funded given the current economic climate. Both said it would be tough. Neither gave terrific details. Mr. Lehrer tried, that was great. But now comes along former Secretary Summers arguing that the U.S. will be able to get back much of the $700 Billion, so spending on programs will not be as tough as one thinks. We think you just may hear that argument come Thursday during the vice presidential debate. Summers makes his case, and raises some good issues. But it still begs the question of what the future will look like. Agree/disagree, you should spend five minutes and give it a read.

We suspect you'll see questions on both come Thursday.