Wednesday, January 14, 2009

Voices for Change - Maureen Rico

since we don't know how the next $350 billion will be spent by the banks if they are given the money we should do this instead.

total bailout $700 billion

new bailout $350 billion

what should have been done from the beginning is:

there are approx 250 million households in the USA and in a good majority of them there is someone unemployed.

the bailout should have been this:

give $1 million dollars to each household
in turn each household with that kind of money would have jump started the economy by:

1. paying off their existing mortgage or buying a home with cash.
2. paid off all outstanding loans and credit card debt.
3. purchased a new vehicle.
4. purchased what they need from retailers.
5. had work done to their home if it was necessary.
6. put money away for their childrens college education.

the tax payers who are bearing the brunt of the bailouts as handed out by the government to banks etc.
would have certainly boosted the economy.

win win situation for the taxpayers, banks, auto industry, housing industry, education sector and retail sector.
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