Stimulus package agreement reached

philipatt · Jan 24, 2008

As i heard, it wasnt accepted by the Liberal Group..
USD is all the way Bearish.

Liberal groups wasted little time criticizing President Bush over the economic stimulus agreement reached today. "Too bad the president blocked inclusion in this stimulus package of proven strategies to get money into the hands of low- and lower middle-income Americans who are best positioned to spend the money needed to help our economy regain its footing," the Center for American Progress said in a statement. ((RXW)
(END) Dow Jones Newswires

January 24, 2008 14:04 ET (19:04 GMT)

pbj · Jan 24, 2008

Quote from daddyeaux:

it's 300+ dollars times 116 million potential recipients .....

might as well drop it from B-52s and watch the scramble.....

It's actually $600 per individual and $1200 for couples, and up to $2400 for couples with kids.

Reaver · Jan 24, 2008

Quote from pbj:

It's actually $600 per individual and $1200 for couples, and up to $2400 for couples with kids.

Where'd you get that that info?

I keep hearing all kinds of different things.

it's almost like knowing you're getting executed but trying to determine what kind of bullet you're going to get shot by.

ljyoung · Jan 24, 2008

Quote from Covertibility:

Looks like Fannie and Freddie got their wish as their conforming loan limit is raised to $625k.

Dropping rates, giving people free money, raising the conforming loan limit, Hope Now or whatver that plan was called, etc... sure does look like a floor in housing is being built.

So this must be a CYA.

lj

--------------------------------------------------------------------------------

For Immediate Release
January 24, 2008

STATEMENT OF OFHEO DIRECTOR JAMES B. LOCKHART ON CONFORMING LOAN LIMIT INCREASE

We are very disappointed in the proposal to increase the conforming loan limit as we believe it is a mistake to do so in the absence of comprehensive GSE regulatory reform. To restore confidence in the markets we must ensure that the GSEsâ regulator has all the necessary safety and soundness tools.

Yesterday Chairman Dodd talked about moving a GSE reform bill early this year. We are ready to work with him and the Senate Banking Committee. We will also be working with Fannie Mae and Freddie Mac to ensure that any increase in the conforming loan limit moves through their rigorous new product approval process quickly and has appropriate risk management policies and capital in place.

###

qxr1011 · Jan 24, 2008

Quote from Optionspoet:

That's the problem. You are trying to associate politicians with ethics and values. C'mon now...

No, imho to say that this is just politicians, is wrong, The country's politicians are the reflection of its people. So the problem is much deeper than with politicians, problem is with people. Politicians are just consequence of the problem

Lights · Jan 24, 2008

What philosophy is that. Do nothing and watch rot? It's in the American spirit to fight to the death. Sorry we don't live in North Korea.

Quote from Ivanovich:

It's not the amount, mate. It's the principle. The philosophy.

newguy05 · Jan 24, 2008

Quote from thecalip:

Individual making over $75k don't get the full refund. It phased out at 87k. So if you make more than 75k but less than 87k, you get some. Unless I read it wrong.

http://news.yahoo.com/s/ap/20080124/ap_on_go_co/economy_stimulus;_ylt=AiaiXkjOghxY_wOV6tiiRx2s0NUE

damn so if i make more than 87k but pay 25% tax annually i cant get my 600 bucks? that's bullshit! Was so looking forward to blow that on strippers, isnt that what the plan intended...

qxr1011 · Jan 24, 2008

Quote from Lights:

What philosophy is that. Do nothing and watch rot? It's in the American spirit to fight to the death. Sorry we don't live in North Korea.

It's philosophy of personal responsibility.

Lights · Jan 24, 2008

Sounds more like playing the blame game. Nobody is perfect in the markets.

Quote from qxr1011:

It's philosophy of personal responsibility.

texrex2002 · Jan 24, 2008

lots of opinions on here, so I'll add mine:

I'm pissed off too.

On some level I understand the boosting consumption is a good way to help the economy.

However, I pay more taxes than most, and I would love to have a grand or two to blow on miscellaneous nonsense, but guess what? I don't get shit! I get the f***ing bill for all these other beatoffs so they can blow money. I am the one hurt by the market tanking, because my investmenst took a beating. I am the one who has suffered more than some asshole with a mcjob. They don't have a carefully horded nest egg that got a beat-down because of STUPID policy (fiscal, monetary, foreign, etc.).

And now, the people that spent the dollar into oblivion on some manufactured horeshit in Iraq (which, incidentally is one of the prime reasons that our economy sucks) are going to "fix" it by spending even more money (on my dime) conveniently during the election year. How about saying "let's stop sprending trillion of dollars on bullshit in the middle east?" watch the markets bounce. Watch the dollar rebound. Watch oil drop.

And to all the folks with "rebate" checks: you're welcome.