Has anyone been following this? I’m a little shocked at how little detail I’ve heard about it compared to the first bailout bill. Quickly surfing around today I’ve found a little about the “make work pay” credit, but that’s about it.
What’s this 800 billion going to be used for (1.1 trillion when you count the interest cost)? I’ve heard some of the political garbage like Pelosi’s request that $100 million go to birth control, but where’s the majority of this money going?
The result is a package loaded with the kinds of spending that immediately made it a ripe Republican target – $600 million for digital TV subsidy coupons, $50 million for the arts, $200 million to repair the National Mall.
Already, the White House is backing away from two of those gems, the National Mall project and contraception funding, which House Speaker Nancy Pelosi awkwardly insisted was needed to cut costs. After an uproar, especially from the Catholic community – Pelosi believes “children are a burden on government,” asserted one commentator – the White House strong-armed House Democrats into dropping the line item.
I’m not trying to turn this into a democrat plan bash fest. Hell, it’s hard to bash it when you can’t even get the details.
That chick who wrote the article sounds like she was just trying to start partisan arguments.
But yeah, all I’ve heard so far was that the $7500 interest free loan for new homeowners is going to become a credit outright, that a good portion of it was dedicated to public work projects, and the making work pay thing. We really need some more transparency.
There isn’t much out there with any details. The fact that they’re debating a trillion dollar plan and no one knows anything about it is pretty frightening. I guess since Black Jesus is in charge the press/public are just going to assume it will be a good plan full of hope and change.
haha, maybe they’ll do the whole “wait til it passes, THEN give the details” thing. We didn’t find out about wooden arrow subsidies until the first one failed.
just another trickle down economics success story :tup:
“hey, lets give huge corporations and millionaires lots of money. they will in turn help the little guy. That’s how economics works. promise.”
“Oh, they just pocketed it. Oops.”
Shit’s not gonna fly with the Obama economic team. I expect something for the 2nd 350 billion along the lines of, “bank must provide documented proof of increase in lending equal to 90% of gov’t funds taken.” Which will make me glad that my bank didn’t take any because it will be a royal pain in the ass from a regulatory perspective.
Scary that there was nobody making Kashkari spend the money the way it was approved to be spent. We bought stock in bad banks, except for that one transaction on 12/29/08 when we bought one billion dollars of GM’s bad debt.
ehh, its well documented that poor people are inclined to spend their money and help out the corporations that make dumb shit. There’s no evidence anywhere that corporations that make dumb shit have any interest in helping anyone but themselves.
I just love how we toss around the word “trillion” like its chump change. If every many woman and child paid for these last two bailouts, it would cost over 4,000 dollars for every person.
You can buy something like 150 aircraft carriers for one trillion.
You could have paid for every war since WWI with a trillion.
This is huge money, and were just pissing it into the wind. Just remember in 20 years who controlled both houses, during all of this spending.
yeah see thats the problem. They can’t just be like “give us 1trillion and we will tell you what it’s for after we have it”. With the new democratic congress (whch has the lowest record of actualy doing anything productive in the history of congress), and Black Jesus in support of them/being supported by them, we’re in a frenzy of retarded and un-needed spending that is going to just put us further in debt.
Bailouts DON’T WORK! Look at all the banks that got money and bought themselves new jets and $400,000,000 bonuses. This is bullshit.
