Thursday, October 02, 2008

Bailout Alternative

Here is an idea for a great alternative to the $85 billion bailout.

Divide the money amongst all American citizens 18 and older.

First, let us estimate that there are 200 million qualified people. Take that $85 billion and divide it by 200 million and each person gets $425,000 (the government of course would tax this so each person would actually only get about $300,000, the rest would go back into the government reserves).

So each person, 18 and older has 300 grand to do with as they wish. What would (or could) a person do with that kind of money to fix the situation that the bailout is working on fixing anyway?
  • You could pay off your mortgage = housing crisis solved.
  • You could pay off your credit cards = increase in personal debt issue solved.
  • You could invest or purchase more = stimulate the economy.
  • You could put the $$$ in a bank = more $$$ to loan out.
  • You could buy a new car = help the automotive industry - create more jobs.
  • You could afford medical insurance = help with health care issue.

Who deserves the money more? Is it the predatory lending agencies that made bad lending choices and now are stuck without any capital because of those poor decisions? Or is it the citizens of America?

That's right. We do!

2 comments:

  1. thats right... then just about everyone would quit their jobs thinking they could just use that 450k to live off of the rest of their lives and in about a year or two (less in many cases) 200 million Americans would be broke again and need another bailout errr i mean rescue.

    Which by the way is exactly what will happen to the current bailout since it does NOTHING to get rid of the likes of Fannie and Freddie type programs that are designed to LOSE money and line the pockets of democrats who promise to keep them around.

    The financial industry associated with those programs will be back in a few years asking for 2-3 times what it took this time.
    Then to top it off they are going to give groups like ACORN part of that money too?

    What a joke.

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  2. Darnit! There goes logic messing up a good idea!

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