CountryBoy
Well-known member
U.S. Taxpayers Risk $9.7 Trillion on Bailouts as Senate Votes
"Feb. 9 (Bloomberg) -- The stimulus package the U.S. Congress is completing would raise the government’s commitment to solving the financial crisis to $9.7 trillion, enough to pay off more than 90 percent of the nation’s home mortgages.
The Federal Reserve, Treasury Department and Federal Deposit Insurance Corporation have lent or spent almost $3 trillion over the past two years and pledged to provide up to $5.7 trillion more if needed. The total already tapped has decreased about 1 percent since November, mostly because foreign central banks are using fewer dollars in currency-exchange agreements called swaps. The Senate is to vote early this week on a stimulus package totaling at least $780 billion that President Barack Obama says is needed to avert a deeper recession. That measure would need to be reconciled with an $819 billion plan the House approved last month."
http://www.bloomberg.com/apps/news?pid=washingtonstory&sid=aGq2B3XeGKok
This had better work, cause it sure sounds like we're emptying the clip on this attempt and haste makes waste. I'm not sure we, the people or the economy, can afford another bailout package.
CB
"Feb. 9 (Bloomberg) -- The stimulus package the U.S. Congress is completing would raise the government’s commitment to solving the financial crisis to $9.7 trillion, enough to pay off more than 90 percent of the nation’s home mortgages.
The Federal Reserve, Treasury Department and Federal Deposit Insurance Corporation have lent or spent almost $3 trillion over the past two years and pledged to provide up to $5.7 trillion more if needed. The total already tapped has decreased about 1 percent since November, mostly because foreign central banks are using fewer dollars in currency-exchange agreements called swaps. The Senate is to vote early this week on a stimulus package totaling at least $780 billion that President Barack Obama says is needed to avert a deeper recession. That measure would need to be reconciled with an $819 billion plan the House approved last month."
http://www.bloomberg.com/apps/news?pid=washingtonstory&sid=aGq2B3XeGKok
This had better work, cause it sure sounds like we're emptying the clip on this attempt and haste makes waste. I'm not sure we, the people or the economy, can afford another bailout package.
CB