The $8 trillion bailout is the CNN headline this morning. The latest slice seems to have a different objective:
Many details of Obama’s rescue plan remain uncertain. But it’s likely to cost at least $700 billion – and that would push Uncle Sam’s bailouts near $8 trillion.
Obama’s estimated $775 billion plan could serve as the next step in the recovery efforts. While most of the Fed’s programs have been aimed at boosting lending, Obama’s economic stimulus plan is aimed primarily at job creation and consumer spending.
These huge numbers are mind-boggling and so far away from the reality that most seniors face as they attempt to balance their budgets and live within their means. Nevertheless it is fascinating to contemplate President Elect Barak Obama’s dilemma faced with all those economic levers that might be used.
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