Democrats have a plan to stimulize the economy
The. Best. Congress. Ever. Just laid out a clear picture of their agenda.
• Adding in the Citi bailout, the total cost of the bailout is roughly $4.6 trillion dollars. Or, as Barry Ritzholtz has calculated, more than what the country spent on the Marshall Plan, the Louisiana Purchase, the Race to the Moon, the Savings and Loan debacle, the Korean War, the New Deal, the Invasion of Iraq, the Vietnam War and NASA… combined… and all adjusted for inflation.
But don’t worry, Robert Rubin — senior transition adviser to president-elect Obama — is on the case.
Wait a second… isn’t that the same Robert Rubin who works for Citibank? And who would benefit from the bailout dough? The same Robert Rubin who mentored Treasury secretary designate Tim Geithner? No problem, Rahm Emmanuel — former head of Freddie Mac — is a senior staffer for Obama so I’m pretty sure nothing can go wrong…