Thats is the dumbest thing you have EVER posted.We are getting the money back from the bailouts.The banks were going to fold and the economy was going to collapse.Please tell me what the stimulus did.Whats it accomplished.We know,from hundreads of economists that the bailouts stabalised the banking system,and the money is being or has been paid back.So ,thats what the bailouts accomplished.What has the stimulus accomplished?UE went to over 9.6% SINCE it passed!!!It has been a TOTAL waste of a trillion dollars.
Keep pretending it was the same as the bailout if you want,but ZERO stimulus money will EVER be recovered,almost all if not more themn all of the bailout money will be paid back WITH interest.Nice try.OBAMA=FAIL.
lots of details in this article about TARP and stimulus.
http://www.thealbanyproject.com/diary/5650/It has been brought to my attention that there is some confusion over two very different things. There is confusion over the American Recovery and Reinvestment Act of 2009 (also known as the economic stimulus package) and the Emergency Economic Stabilization Act of 2008, also known as the Troubled Assets Relief Program (TARP).
Some people have taken liberties with both, lumping TARP in with the economic stimulus package and saying that they oppose the economic stimulus package because of TARP. However, TARP was not meant to stimulate anything. TARP's goal was to buy up $700 billion worth of troubled assets. In the House, TARP passed with a 263-171 vote. Of the 263 representatives that supported TARP, 91 were Republicans. And those 91 Republicans included some of the same loud-mouthed Republicans who are dismissing the economic stimulus package. Republicans John Boehner, Eric Cantor, among others.
The only sector TARP helped was the financial sector. There was no stimulation with TARP. The Treasury Department was handed a blank check (with zero accountability) to buy up troubled assets from banks and other financial institutions. The first $350 billion of that money has already been spent, but no one knows where it went. There were a lot of people in Congress who were nervous about releasing the second half of the $700 billion because of the lack of accountability and oversight.
But the economic stimulus package is different - very different. The package passed the House with a 244-188 vote. Zero Republicans supported the stimulus package. The Republicans are quick to point out that there is money for birth control and other things in this bill, but they aren't quick to mention all of the contents of the package.
The economic stimulus package, which is best summarized here, includes the following:
- $32 billion to update the nation's energy grid
- $16 billion to repair public housing
- $6 billion to weatherize modest-income homes
- $10 billion for science facilities, instrumentation and research
- $6 billion to expand broadband internet access
- $30 billion for highway construction
- $31 billion for modernizing and improving infrastructure that lead to energy cost savings
- $19 billion for clean water, flood control, and environmental restoration investments
- $10 billion for transit and rail to reduce traffic congestion and gas consumption
- $41 billion for local school districts; $13 billion through Title I funding, $13 billion for IDEA, $14 billion for school modernization and repairs and $1 billion for education technology
- $79 billion in state fiscal relief to prevent cuts to education programs
- $15.6 billion to increase Pell grants by $500
- $6 billion for higher education modernization
I included the rest of the summary over the fold. But the list above should give you an idea that this economic stimulus package is intended on stimulating the economy and helping average taxpayers and local and state governments fund programs that need funding.
Let me put it into this context. Among the House Republicans, 91 of them (some of whom aren't around anymore) supported giving a blank check to the banks and backed money that would go strictly to banks and financial institutions. But not a single House Republican would support the economic stimulus package that would give money to your local and state governments and go to projects that would help us in our daily lives.
TARP is something completely different. TARP was to help banks and financial institutions that have suffered due to, among other things, the subprime mortgage crisis. The economic stimulus package is different. This is money that will be invested into environmental initiatives, health care, infrastructure and will also fund $275 billion in tax cuts.
Hopefully it is understood that TARP has its own focus and the economic stimulus package has its own focus. They are two very different things with different missions.
robert.harding :: The Differences Between TARP And The Economic Stimulus Package
Tax Cuts to Make Work Pay and Create Jobs: We will provide direct tax relief to 95 percent of American workers, and spur investment and job growth for American Businesses. [marked up by the Ways and Means Committee]
rest of the article click the link
http://www.thealbanyproject.com/diary/5650/
