help me straighten it out, freddie is created to make sure funds are in the housing market in tough economic times, 1938 and that is not happening and why are they not working. it was fannie mae created in the depression, later, freddie mac but you hit the nail on the head. arthel. and that is, this has been a problem long in the making for the american taxpayer. now, worst-case scenario is that quarter of a trillion dollar loss that you were pointing out, that is if the housing market gets worse, now, a better scenario is the laws of only this is a loss for the american taxpayer, only $154 billion. if you need solace there. here s the problem, though. for years, fannie mae and freddie mac were buying or guaranteeing home loans that, when the housing market went bust the loans went bad and these two giants, frankenstein monsters had paltry cash on their books to cover them and the american government takes them over, but, they have
six-point lead. nationally the gallop poll says more voters would prefer a republican instead of a democrat for congress. it has been like that all year. sestak did vote for the bail-out in 2008. $100 billion for detroit. $878 billion for the first stimulus. the president $3.5 trillion budget. cash for clunkers. another $154 billion stimulus. $2 trillion for healthcare and a new $14 trillion debt limit. sestak now sponsoring a new bill in congress for taxpayer to bail out home mortgages. it s not fair for those paying their bills and mortgages to tell them by the way you have to pay someone else s mortgage, too. sestak unapologetically defend his record as pro-little guy. despite the party enthusiasm for bail-out, sestak is on
six-point lead. nationally the gallop poll says more voters would prefer a republican instead of a democrat for congress. it has been like that all year. sestak did vote for the bail-out in 2008. $100 billion for detroit. $878 billion for the first stimulus. the president $3.5 trillion budget. cash for clunkers. another $154 billion stimulus. $2 trillion for healthcare and a new $14 trillion debt limit. sestak now sponsoring a new bill in congress for taxpayer to bail out home mortgages. it s not fair for those paying their bills and mortgages to tell them by the way you have to pay someone else s mortgage, too. sestak unapologetically defend his record as pro-little guy. despite the party enthusiasm
what does it all mean? jenna lee is live at the fox business desk where all of the breaking news comes in on business. hi jenna. reporter: yes, for the economy we spent more and actually made more. that s good for us and good for the general growth as well. but we also saved a lot more. in fact our savings rate is at an eight-month high right now, which means that we put away in the mon of may $154 billion, all of us, that s what we actually saved in one month, but we are spending some of the money that we have, and that is a good thing, because remember, consumer spending makes up about 70 percent of the economy. one of the reasons why we re spending more is we re actually making more because we re adding some of our work week. but we re really going to have to pick up slack over the next couple of months. remember for the last two years a lot of stimulus money has come into the economy and now it s going to start to go away, so it s up to us to keep spending to make sure we continu
representatives passed $154 billion job bill. the senate took that and instead of passing the same one, they couldn t get that through, they broke it into pieces. so week by week by week by week they re putting through more of these jobs bills. the first one had unemployment insurance in it, or maybe the first one had business tax credits and the seconds had unemployment insurance and they re getting republicans on them, scott brown included. these folks are looking at jobs bills and saying i can t vote to filibuster that. you re breaking the filibusters and getting them through. they re going to have massive legislation going right through to november. that is going to create a second layer of this story. you ll have these stories around the jobs numbers. but in addition, the sense that the job situation is getting better, people are also going to see democrats passing this legislation. state and local aid, investment in infrastructure and that will go on for months now. it will be th