Is The Economic Stimulus Package Working?
“Is the economic stimulus package working” seems to be the question on most people’s minds. But which economic stimulus package are you talking about? Bear Sterns was taken over by JP Morgan Chase, so maybe that $29 billion economic stimulus plan worked. We all got our economic stimulus checks in 2008, but we didn’t necessarily put them back into the economy, so that $178 billion might not have been well-spent. The $300 billion mortgage stimulus, “Hope For Homeowners,” awarded in July 2008 didn’t work very well either, because few people took an interest in the program. While proponents of this particular economic stimulus package estimated that 400,000 homeowners could be helped over a three-year period, in the first month, only 111 had applied. The $200 billion economic stimulus handout to Fannie Mae and Freddie Mac, the mortgage giants, stabilized them enough to prevent collapse. The $50 billion economic stimulus to stabilize money market funds might have averted a disaster. The $15
