Many economic experts and think tanks have said the recession would right itself if we did nothing and that the "stimulus plan" would make things worse.
Here is an example of how that could be right, spending is up for the first time in six months:
http://www.bloomberg.com/apps/news?pid=20601087&sid=aA7IaN46fZBk&refer=worldwide
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Aaaargh!! We were listening to the news last night about the stimulus plan and trying to figure out how it's going to help the economy. Like one person said, it sounds like a big spending bill. Nothing in there was going to help those who are worried about their jobs or the middle class. And what about the banks??? In the paper today they were saying that they were processing loans and getting things in order. Baloney!!! From everyone I've heard from - you can't get a loan to save your life. Wasn't that why they got the money in the first place, to help people be able to refinance out of the stinky loans they got suckered into in the first place or just be able to refinance to get better rates - those things stimulate the economy. But instead they're out giving bonuses and buying jets. Whew.... Feeling a little better now! ;) Hugs!
Let it out Jen!!!
The banks can't or won't tell us how they spent the first $350Billion.
I think the grand total of Stimulus, the 1st $350B, the 2nd $350B, the SChip $25B, and the current financial bill that Geithner won't give out any details on, will total somewhere around $9.7 Trillion after the servicing costs are added in.
$9,700,000,000,000
Do I have the zeros right?
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