Tags: ten | trillion | stimulus

Stimulus Plan Pushes Total Recue Bill Near $10 Trillion

Tuesday, 10 Feb 2009 01:30 PM

By Jim Meyers

The federal stimulus package would raise the government’s commitment to solving the economic crisis to an astronomical $9.7 trillion — enough to pay off more than 90 percent of the nation’s home mortgages.

The commitment is comprised of about $1 billion in stimulus packages, about $3 trillion in lending and spending, and $5.7 trillion in agreements to provide aid, the New York Post reported.

The House has approved an $819 billion stimulus plan, which needs to be reconciled with the Senate’s package of at least $780 billion.

The total value of home mortgages in the U.S. is calculated at $10.5 trillion by the Federal Reserve.

Sen. Byron Dorgan, a North Dakota Democrat, said on the Senate floor last week: “We’ve seen money go out the back door of this government unlike any time in the history of our country.”

© 2015 Newsmax. All rights reserved.

1Like our page
2Share
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved