Monday, January 25, 2010
The Stimulus Tracker - Where the $$ are Going!
What the government's money is intended to do: The Federal Government has nearly $3 Trillion invested in the economy right now, and stimulus funds are just a small portion of that investment. Where is the rest of the money going? And what is it intended to do?
1. Make credit more accessible: Term auction facility; Primary dealer credit facility; Term securities lending facility; Student loan guarantees; Foreign dollar swaps; Money market guarantees; Commercial paper funding facility
2. Bail out companies: Bear Stearns; Fannie Mae & Freddie Mac; Troubled banks; AIG; US Central adn WeCorp Credit Unions
3. Help the Auto Industry: Cash for clunkers; Enegy efficiency loans; emegency funding; auto supplier support program.
4. Stimulate the economy: Economic Stimulus Act of 2008; 2009 stimulus package
5. Prevent Foreclosures: FHA housing rescue; 2009 foreclosure fix
6. Extend unemployment aid: Benefit extensions
7. Take over Failed Banks: 2008 FDIC bank takeovers; 2009 FDIC bank takeovers
Total Allocated: $10.2533 trillion
Total Spent: $2.92301 trillion
Economic Ups and Downs