What a waste of tax revenue.
Could have bought some failed mortages with that money before the shit hit the fan.
http://en.wikipedia.org/wiki/Economi...us_Act_of_2008
Quote:
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The Economic Stimulus Act of 2008 (Pub.L. 110-185, 122 Stat. 613, enacted 2008-02-13) is an Act of Congress providing for several kinds of economic stimulus intended to boost the United States economy in 2008 and to avert or ameliorate a recession. The stimulus package was passed by the U.S. House of Representatives on January 29, 2008, and in a slightly different version by the U.S. Senate on February 7, 2008. The Senate version was then approved in the House the same day. It was signed into law by President George W. Bush on February 13, 2008.[2] The law provides for tax rebates to low- and middle-income U.S. taxpayers, tax incentives to stimulate business investment, and an increase in the limits imposed on mortgages eligible for purchase by government-sponsored enterprises. The total cost of this bill was projected at $152 billion for 2008 with an additional $124 billion to be spent over the next 10 years.
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And this was the second payoff. Don't forget the 2001 "tax rebate".