Senate and House leaders announced today that they had reached agreement on a $789 billion economic stimulus bill, clearing the way for final Congressional action and President Obama’s signature, perhaps as early as tomorrow. Yes, that is $789 billion. Wow! Where is all this money coming from?
Even trimmed to $789 billion, the recovery measure will be the most expansive unleashing of the government’s fiscal firepower to fight a recession in modern history. And yet it seemed almost trifling compared with the potential price tag of $2.5 trillion for the rescue plan for the financial system announced on Tuesday by Treasury Secretary Tim Geithner.
No comments:
Post a Comment