Stimulus Package Details | Economic Stimulus Package Totals

Whopping Total Of Economic Stimulus Packages

If you’ve had trouble following all of the details of all of the economic stimulus packages, economic stimulus plans, and economic stimulus bills that have passed since the beginning of 2008, don’t feel bad. You’d need a scorecard and a degree in accounting to track the amount of money the federal government has given away, loaned, or guaranteed.

And just a reminder to those who hated math in school: One billion dollars equals 1,000 million dollars. That bears repeating – 1,000 million!

Through March 2009, the grand total of commitments was in the range of $3 trillion. Again a reminder: One trillion dollars equals 1,000 billion. And a thousand times a thousand equals a million. Therefore…one trillion is the equivalent 1,000,000 million.

These are the major economic stimulus packages, give or take a few billion:

March 2008: Bush stimulus $29 billion for Bear Stearns/JP Morgan Chase deal
May 2008: Bush stimulus $178 billion in tax rebate checks
July 2008: Bush stimulus $300 billion for distressed homeowners
July 2008: Bush stimulus $200 billion for Fannie Mae and Freddie Mac
September 2008: Bush stimulus $50 billion to guarantee money market funds
September 2008: Bush stimulus $25 billion to Big 3 automakers
September-November 2008: Bush stimulus $150 billion to AIG
October 2008: Bush stimulus $700 billion to banks (TARP)
February 2009: Obama stimulus $787 billion in broad stimulus package
February 2009: Obama stimulus $75 billion for distressed homeowners
February 2009: Obama stimulus $200 billion for Fannie Mae and Freddie Mac
March 2009: Obama stimulus $30 billion for AIG
March 2009: Obama stimulus $15 billion for Small Business lending
March 2009: Obama stimulus $1 trillion for banks to remove "toxic assets" from their books
March 2009: Obama stimulus $22 billion for Big 3 automakers Chrysler and GM
April 2009: Global stimulus $1 trillion commitment from G-20 countries
June 2009: Obama stimulus $30 billion to help General Motors file bankruptcy

This isn’t the end. By all accounts, more economic stimulus packages are on their way!

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