The Obama stimulus package has grown to almost $850B. WSJ and Bloomberg have details.


The Obama stimulus package has grown to almost $850B. WSJ and Bloomberg have details.
Comments (5)
  • herbert hoover
    , contributor
    Comments (2001) | Send Message
     
    That's almost as much as Citi got last month!
    14 Jan 2009, 06:24 PM Reply Like
  • Cerberus
    , contributor
    Comments (202) | Send Message
     
    Right on time Hoover.
    14 Jan 2009, 06:30 PM Reply Like
  • Timmothy Posey
    , contributor
    Comments (182) | Send Message
     
    Unfortunately, I'm not for the stimulus package, but I still think it is too small to make a difference.

     

    We're going to spend $300b to give $500 per person paid over the course of a year is $41.33 a month. That's not going to help someone stay in their home. Sure, it'll help them subscribe to NetFlix or keep their cell phone, but it's not going to make a difference.

     

    This thing needs to be atleast $2 trillion to make a difference. Otherwise we're just throwing good money after bad.
    14 Jan 2009, 09:31 PM Reply Like
  • Jackson Cash
    , contributor
    Comments (357) | Send Message
     
    Well that's good news for the banksters! Anyone heard if even one dollar from TARP has made it into a loan yet??

     

    Perhaps we need to rearrange the letters to TRAP.
    14 Jan 2009, 10:50 PM Reply Like
  • bearfund
    , contributor
    Comments (1550) | Send Message
     
    TPoise, I'm inclined to agree. At this point the choices are a $5-10T monster or sitting back and waiting it out. Anything in between won't help. The only way to really get things going again artificially requires shocking the markets and triggering a steep round of inflation. I'm with you in that I'd rather just wait it out, take my lumps with the rest if anything I'm holding defaults, and find a United States with at least a somewhat healthier balance sheet 10 or 15 years from now when things are finally getting better. This "middle way" doesn't cure anything immediately, but it still increases hyperinflationary pressure down the road. Worst of both worlds, and we're also paying for it.
    15 Jan 2009, 02:15 AM Reply Like
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