Politics and Money

[ergo sum]

TARP Passage
The Senate voted Oct. 1, 2008 to pass a revised version of the TARP bill (HR 1424) and the House voted Oct. 3, 2008 to clear the measure.

Stimulus Passage
The House approved the $862 billion stimulus package on Feb. 13, 2009. The Senate also approved the measure on Feb. 13.

NOTE: In February 2009, the CBO estimated that the American Recovery and Reinvestment Act would increase budget deficits by a total of $787 billion between fiscal years 2009 and 2019. In January 2010, the CBO released a new budget outlook in which they updated their projections for the stimulus bill. CBO now anticipates that the ARRA will increase deficits by $862 billion between 2009 and 2019. $862 billion is the total cost of the 2009 stimulus bill.

The Biggest Parts of the Auto Bailouts

Dec. 19, 2008 – The U.S. announces a $17.4 billion lifeline to Detroit car makers from the $700 billion Troubled Asset Relief (TARP) program. GM is to receive $13.4 billion and Chrysler $4 billion.