I have "solved" the economic crisis

[SoCalDem]

I overheard a bit of a hearing and Evan Bayh was going on and on about how important it was for us to engage in "debt forgiveness" in order for third world countries to become self sufficient and solvent.. The comment was made by someone, that if all their money goes for debt and debt service, they cannot afford to buy our goods..

Well ....D U H !!!!


Here's my plan.. Everyone who makes under 300,000 a year ($600,000 for a couple) gets their "debts forgiven"..up to say....$100,000..

Can you imagine how the economy would BOOM if the govt actually DID something FOR its people, instead of TO its people..???


Part of the deal would have to be the relinquishment of all credit cards except for one..and that limit would be a hard and fast limit of no more than 10% of annual gross salary..

The economy right now is running on bravado and bluster...borrowed money.. If we are to emerge as a healthy and vibrant economy, people have to be able to spend REAL money...

Can you imagine the boost it would give people if all of a sudden they were debt free?? And for those who are already frugal, and do NOT use credit, they could also get their "windfall" after the average was established, in the form of IRA/401-k or investment of their choice..

It could be a one time "re-adjustment".. If we can manage to scrape up 87B to rearrange the dirt in Iraq, we could certainly do something for our own citizens.,..


and what would we do with all the debt collection agencies and credit card "pushers"??

I hear Mc Donalds and Walmart are hiring..:evilgrin:

[Dookus]

1. But..

US Consumer debt alone is almost one and a quarter trillion dollars. Who's gonna pay it?

[SoCalDem]

3. If we can magically "forgive" debts from countries

why not from our own citizens??

We have bailed out the airlines (numerous times)

Bush's sticky-fingered son Neil & his cronies (savings & loan scandal)

The auto industry

The steel industry

The larcenous CEO's

Every time one of these scams happen, it's the taxpayers who "bail the whole mess out", and all I'm asking, is that since we will pay one way or another, why not give the help where it will do the most good:)

[AmeriCanadian]

11. Careful there ...

... some of us feed our families with that debt we have the note on. Be careful about giving away money that is not yours to give away. I never forced anyone to borrow money. They came to my company asking for money and signed a note promising to repay the loan .

[Nlighten1]

12. Ummm

ok

[gristy]

2. Problem is, that debt is ultimately owned by somebody

Pension funds, for example. It is a very tangled web.

[Julien Sorel]

4. I was curious to see how many folks would take this seriously.

;-)

[SoCalDem]

5. My "plan" makes about as much sense and some of the

other stuff that gets pushed through congress :P..

A girl can dream, can't she??:P

[Julien Sorel]

6. If your plan is ever up for consideration, let me know.

I have a bunch of CCs just itching to be used. :-)

[SoCalDem]

7. Me too. I don't "activate" mine.. That way I can't use them

The card company sometimes calls me to ask if they can "activate them for me now "... :) Aren't they nice? :)

[FloridaPat]

8. MBNA was one of Bush's beggest contributors. They can use that

money to cover the debts. I like your idea! Go for it!

[Kazak]

9. I have "solved" it too...

Legalize it!

Freedom is NORML.

[montana_hazeleyes]

10. Hell's Bell's.

Sounds good to me!

[ComerPerro]

13. WooHoo, I'm buying a Gibson Les Paul

Seriously. I intend to very soon. I get them cheap.