Here's an idea about the bailout!

[Project Grudge]

I am wondering because if I did my math correctly it looks something like this:

$700,000,000,000 divided by each adult in the country ( est. 220,000,000) it comes to around 3,200 a person. Imagine how well the economy would do if instead of paying these banks we gave each taxpayer that money. Mortgages would be paid, credit card debt paid, investment in the economy, hospital bills paid, college loans paid, etc.


Otherwise, the bailout just makes it so we Americans can BORROW money easier. I'm sick of debt; that's all.

[Amonester]

1. That would be (temporary) SOCIALISM (for the people, by the people)

Instead of fascistic COMMUNISM for the fat cats, (paid) by the people.

Can't have that. The Reaganites would scream...

[Project Grudge]

2. Ben Franklin

"When the people find they can vote themselves money, that will herald the end of the republic."

[csziggy]

3. I suggested that to Mr. csziggy yesterday

He said we'd already had our stimulus package and it didn't work....

[Orrex]

4. But that would be redistribution of wealth, which always kills the economy

But when you give lots of money to corporations and to the already-rich, then the economy grows without bound forever and ever amen.


Seriously, I've argued for something similar to what you're describing. Rather than bailing out Fannie, for instance, why not pay off a chunk of every mortgage (for primary residences, of course)? That way, the borrower would get some breathing room (a few months at least) to get his or her finances under control, and Fannie would still receive the bailout.

Nope. Instead they just funnel the cash directly to the fucked up entity that fucked up in the first place.

Lovely thing, socialism.

[Project Grudge]

5. Good point Orrex.

completely agree. Why is it your idea makes so much sense? It helps the business and the people, but no one cares.


Letting people pay-off their debts would send the market up (consumer confidence would go up as would earnings estimates), which would cure some of this mess. Also, paying off debts would give money to these banks whose main problem is that they don't know the value of their assets (the ones the bailout is getting) because they don't know if they are worth anything (no one pays them back. The banks would have more liquidity and be more likely to give credit (because people are paying it back).

It seems a win win.