$25 Billion Bailout

OpenCongress Blog

July 22, 2008 - by Donny Shaw

Well, the plan gives the government authority to throw an unlimited amount of money at Fannie Mae and Freedie Mac, so there’s no way to know for sure how much it will cost. But the experts have a guess.

The Congressional Budget Office has scored the Bush administration’s Fannie and Freddie bailout and estimates that it will cost $25 billion over the next two years. But they also said that there is a good chance – “probably better than 50 percent” – that the plan’s bazooka effect will be enough and the bailout plan wont’t have to be used at all, thus having no costs.

Click here (pdf) for the full letter to House Budget Chairman John Spratt (D-SC).

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