Stimulus Package Details | Economic Stimulus Package In Detail

Economic Stimulus Package Details

This information was compiled by the same write who created a site for senior communities in Denver (including memory care, assisted living, and independent living).

You’d probably like to know more about the economic stimulus packages, in detail.

The “big ticket” economic stimulus packages include:

$700 Billion Bush Stimulus
The $700 billion Troubled Asset Relief Program, (TARP), given out by the George Bush Administration in October 2008. No one can seem to track down any details on this. The money was given to banks with the goal that they would lend it to people. They didn’t seem to do that, but no accountability was written into the hastily concocted plan, which seems to have been concocted in a matter of days, in a “cocktail napkin” format.

$787 Billion Obama Stimulus
The $787 billion economic stimulus bill signed into law by President Barack Obama in February 2009 was more detailed, 1,071 pages to be exact. To summarize, here’s where the money’s supposed to go:
$288 billion – tax relief
$144 billion – state and local municipalities*
$111 billion – infrastructure and science
$81 billion – poor and unemployed
$59 billion – health care
$53 billion – education and training
$43 billion – energy
$8 billion – other

$1 Trillion Obama Stimulus
The $1 trillion toxic asset purchase program, announced by U.S. Treasury Secretary Timothy Geitner in March 2009 will be seeded with $75 billion to $100 billion in funds from the TARP program. Presumably, this government pledge will be enough to attract funds from private investors (hedge funds, endowments, private equity funds, and institutional investors), to the tune of $500 billion to $1 trillion. The premise is that hearty private investors will buy “toxic assets” from the banks, at a fraction of their book value. The Federal Deposit Insurance Corporation (FDIC) will get in on the deal by guaranteeing debt-financing issued by public-private entities.

State Shares of Economic Stimulus Package
*Money from the $787 billion economic stimulus package passed in February 2009 will be divided among the states, according to the following shares:

Alabama $7.7
Alaska $1.5
Arizona $10.3
Arkansas $4.8
California $64.7
Colorado $7.2
Connecticut $6.9
Delaware $1.6
Florida $28.3
Georgia $15.8
Hawaii $2.2
Idaho $2.5
Illinois $22.7
Iowa $4.9
Indianapolis $11.1
Kansas $4.4
Kentucky $7.2
Louisiana $7.7
Maine $2.5
Maryland $9.5
Massachusetts $12.1
Michigan $18.4
Minnesota $9.3
Mississippi $5.1
Missouri $10.3
Montana $1.7
Nebraska $2.9
New Hampshire $2.1
New Jersey $17.5
New Mexico $3.4
New York $42.5
Nevada $4.0
North Carolina $16.1
North Dakota $1.3
Ohio $20.1
Oklahoma $5.8
Oregon $6.5
Pennsylvania $22.9
Rhode Island $2.4
South Carolina $7.7
South Dakota $1.4
Tennessee $10.3
Texas $37.3
Utah $3.8
Vermont $1.3
Virginia $11.9
Washington $10.4
Washington, D.C. $1.5
West Virginia $3.1
Wisconsin $9.1
Wyoming $1.0

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