On a single day filled with staggering sums, the Obama administration, Federal Reserve and Senate attacked the deepening economic crisis Tuesday with actions that could throw as much as $3 trillion more in government and private funds into the fight against frozen credit markets and rising joblessness...
Separately, Treasury Secretary Timothy Geithner outlined plans for spending much of the $350 billion in financial bailout money recently cleared by Congress, and the Federal Reserve announced it would commit up to $1 trillion to make loans more widely available to consumers...
In a further obstacle, Collins and other Senate moderates — in both parties — signaled they will work to hold the cost of the final bill below $800 billion. That's less than the $820 billion in spending and tax cuts combined in the bill that cleared the House as well as the $838 billion legislation the Senate wrote.
read the story
My thoughts: So anything less than $800 billion is fiscally responsible?
No comments:
Post a Comment