“Economic catastrophe without the bill”
By Daniel at 10 February, 2009, 2:06 pm
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BREAKING NEWS: Senate passes stimulus
An $838 billion economic recovery package cleared the Senate on Tuesday in a 61 to 37 vote.
The package provides for roughly $293 billion in tax relief and $546 billion for spending measures, according to the Congressional Budget Office.
The Senate bill is not the last stage in the process. The next step will be for a committee of representatives from the Senate and the House to reconcile the differences between each chamber’s proposed economic recovery package. The House passed an $820 billion two weeks ago, with $182 billion in tax relief and $638 billion in spending.
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“The president has warned of economic “catastrophe” without the bill.”
Economic “catastrophe” is here and and has been guaranteed a long and healthy reign with the two government programs announced today.
I still haven’t heard from anyone in Govt as to how we’re going to pay this back! If we’re to inflate our way out (which seems the only likely way), why doesn’t someone say so? Because no one would buy the debt, you suppose?
In ‘29, we had vast savings domestically, huge pools of crude, a nascent automotive, airline, electronic, telecommunication wave beginning. Capital, industry, innovation, energy reserves.
This episode is a credit collapse without any of those type reserves, and zero confidence going forward created by yours truly. American Fed, American Government, American Ceo’s.
I think we may need a rescue from the “Rescue plan”
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