The $825 billion economic stimulus bill will be ready for Obama's signature sometime in February.  With this new bailout cash for the falling financial industry, huge proposed spending, and tax cuts many this borrow and spend their way back to prosperity will be implemented like the borrowers that purchased homes with no consequences in mind.  But it seems that the money will be available weeks after the signing.  This feels like a refi...

     The bill will tax cuts for businesses and individuals then placing billions into areas such as health care, education, energy and highway construction.  This all translates to about $550 billion in new spending and $275 billion in tax cuts.  The estimated "new spending" break down goes as following:

$130 billion for health care

$100 billion in funds to help homeowners facing foreclosure

$100 billion for education

$30 billion for highways

$10 billion for mass transit

$3 billion for airports

Billions for food stamps. unemployment benefits, and some other goverment aided departments

 

2 Comments on Congress OK's the Release for the $350 Billion Bailout

JAN
17
212,878 Points 1 Featured Post Localism Sponsor Outside Blog Hit Router

and none for me.  Why doesn't the government bail out me, I am sure I could scare up a bill or two for them to pay.

8:03pm • #1
JAN
21

REPLY to Robert,

I'm there with tyou Robert, I think we all could take some of that money and put it back into the economy by paying our bills.

6:40pm • #2

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John Kim

Irvine, CA

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Orange County CA Loan Modification & Short Sale Processing

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