We know the difference between the mind-boggling bundles of cash we're talking about, right?
"Bailout" = $700billion given to Treasury (originally under Hank Paulson) to bailout financial services companies.
"Stimulus" = $800billion bill just passed by House and Senate, comprised of spending and tax cuts, meant to "stimulate" the economy-at-large. AKA "Recovery Bill" or "Rescue Bill".
All clear?
Tuesday, February 10, 2009
Before you commit to "the bailout failed"...
See, I know that what bailout there has been has not ENDED the economic crisis, but to say "it failed" is not convincing. What would have happened had we NOT injected billions into the financial services industry? Check out this recollection from Rep. Paul Kanjorski about the initial purpose of the bailout. Fear mongering or fact?
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