The difference between a democracy and a republic:

This is definitely one of the things I learned in grade school but like so many others apparently it's one of the things I forgot. Kinda like for every fact I put in my head one leaves so I have to choose wisely.

The following is from wisegeek.com

By definition, a republic is a political unit governed by a charter, while a democracy is a government whose prevailing force is always that of the majority. Perhaps one of the difficulties in defining these two words, namely democracy and republic, stems from the fact that many consider them synonyms, which they aren’t. They are no more alike than an apple and a banana, and yet they are often used interchangeably.

The difference between a republic and a democracy lies in the ultimate source of official power. In the case of a republic, it lies with a charter; in a democracy, with the rule of the majority.

Consider the words to the United States' Pledge of Allegiance, which adds to some of the confusion by proudly touting: “And to the republic for which its stands, one nation under God, indivisible,”

This is how the bail out was passed against the will of the people. I also believe this is how a lot of things we will not be for will become law in America in the months to come if this economic nightmare isn't fixed.