Friday, January 15, 2010

Stimulate This..

Bush's Economic Stimulus Act of 2008, cost $180+ Billion, February 2008
http://waysandmeans.house.gov/media/pdf/tax/JCT_Revenue_Table_Final_Bill.pdf

Bush's H.R. 3221, Housing and Economic Recovery Act of 2008, cost $25 Billion
http://www.cbo.gov/ftpdocs/95xx/doc9597/hr3221.pdf

Bush allows the Fed to Loan (give) AIG $85 Billion under the Federal Reserve Act, September 2008.

Bush allows the FDIC to enter a "loss sharing" deal with Citigroup on a $312 Billion pool of loans (mortgages). This would have Citigroup taking the first $42B in losses and the FDIC taking the rest. I have contacted FDIC for a status report on this "agreement", no word yet.

29 September2008, first attempt at FDIC's TARP is rejected in the House.

3 October2008, Bush signs Congress' TARP into Law, cost $700 Billion.

Whole timeline, pretty interesting; http://timeline.stlouisfed.org/index.cfm?p=timeline

I guess my point is; Bush authorized about a trillion dollars (maybe more) of our tax dollars in the run-up to the financial catastrophe, and I didn't hear anyone crying "generational theft" until Obama did the same with the Recovery Act. Ironic?

No comments:

Post a Comment

Drop me a note..