Well, loyal readers, as you know I latched onto this whole banking collapse pretty early on. And I've been giving it a lot of thought. Frankly, I'm am just fine with this whole bailout thing stalling out. To me, it'd be like giving my kids a credit card after they'd blown their allowance, and saying, "Can Momma give you a ride to the mall?" Somehow, it just doesn't work for me. I honestly don't think that the folks in D.C. understand much more than this teacher in So. Cal.
So, I had a conversation with a friend at work, and she had a very wise plan on how to stimulate the economy again. What we decided was this: let the banks and lenders fail. As the Republicans used to say (when they were calling themselves that instead of avoiding the R word), let the market correct itself. Yes, that's me, sounding like a fiscal conservative. (Since when have we Dems become the party of fiscal responsibility???) "But, how," you may ask, "will we ever get the economy growing again?"
Well, how does a cool quarter of a million sound...in your pocket? Yeah, sounded pretty good to me, too. So, I'm thinking, instead of giving a blank check to the same greedy corporate bastards that got us in this mess, and hope they follow the new rules and fix the mess they made, give each of us $250,000. All American citizens over the age of 18 would get $250G. Of course, we'd tax it, so the government would get some of it back to invest in, oh, something crazy like clean energy R&D that might actually turn into jobs for Americans. Now, wouldn't that be something?
But there's no such thing as a free lunch, or a free $250G's, either, my friends. There would be strings attached, of course, like anything else the government ever gives you! The money would be in the form of a voucher, good only for certain things: paying off existing debt (not splurging on shoes, Imelda!), paying down your mortgage, capital improvements/developing equity in your home (let's put the building trades back to work and increase home values), paying for college for you or your kids (retrain yourself for those new Green sector jobs or send the kids somewhere besides 2 years at the community college), or donate to a legitimate charity (and no, I don't mean a political party). I think you can see the connection to stimulating the economy and bringing back jobs. I know my family would benefit. The only thing I see emanating from this failed bailout plan is a big enough debtload in this country that my great-grandchildren will be paying for it!
Since my friend and I had this discussion, I've since received 2 different emails with similar plans. So, my friend and I can't be the only ones thinking this way! The emails seem to have some of the math worked out and it seems to be plausible. Wish I knew an economist!
Okay, too freaky: ultraconservative Ben Stein just said, "Let's give the money to the little people!" Holy crap, either the GOP is finally getting it, or I'm becoming a conservative (terrifying)! What do you think? Post a comment and let me know!
The Republican boom fizzles
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