James Pethokoukis

Politics and policy from inside Washington

Obama stimulus vs. Fed stimulus update …

June 15, 2009

A stimulus update from my guy Dan Clifton, super-analyst at Strategas Research: “Through June 5th, about $46bn of stimulus spending and $10bn of tax cuts have been enacted (total $56bn) via President Obama‚Äôs $787bn stimulus package (7.1%).”

Now let’s compare that to what the Fed’s been doing (via the WSJ):

Since the onset of the financial crisis nine months ago, the government has become the nation’s biggest mortgage lender, guaranteed nearly $3 trillion in money-market mutual-fund assets, commandeered and restructured two car companies, taken equity stakes in nearly 600 banks, lent more than $300 billion to blue-chip companies, supported the life-insurance industry and become a credit source for buyers of cars, tractors and even weapons for hunting.

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