My plan to save the U.S. economy

www.concordmonitor.com.../20080927/OPINION/809270310/1029/OPINION03

For the MonitorFor the Monitor
September 27, 2008 - 12:00 am



The billions of American taxpayer dollars going to bail out private lending institutions, investment firms and insurance companies can be put to much better use.

Instead of socialism for corporations that made bad decisions driven by greed, how about an act of socialism that would benefit not only American citizens but the economy as well. I propose the federal government pay off, one time only, the primary mortgage of every resident American citizen. Imagine the stimulus to the economy!

Banks would get a needed influx of cash, which would stem the rising tide of foreclosures and institutional failures. Americans would have dollars to pay off their credit-card debt, which would give banks more money and ease the current credit crunch. People whose retirement accounts have been savaged by bad investments could begin saving in earnest for retirement, putting more cash flow into banks.

Homeowners could renovate their homes and perhaps install some solar, wind or geothermal measures to help move us toward independence from fossil fuels.

Since homeowners would no longer have a mortgage interest deduction, there would be more tax dollars paid, although the feds might provide serious alternative energy credits to provide incentive to move to alternative energy for homes to offset the loss of that deduction. People could then also save their own money as well as spend it on electronics, furniture, clothing and cars.

It's high time to find a way to help the American taxpayer thrive, instead of continuing to struggle and fail.

DANI-JEAN STUART

I think that this is one heck of an idea!

What do you think?

Wing-Nut

I think that anything that makes good sense, hasn't got a snowballs chance in hell of fixing anything.

The powers that be that control this stuff know exactly what they are doing. They're not about to let anyone fix this problem except in the way that will profit them the most, and I mean that in all senses of the word profit.

The herd, that's us common folks, is being guided into a preplanned staging area, so that we'll welcome whatever fix they decide on. Because we allowed bad people to gain power and control over us.

Our forefathers had a fighting chance, that's because the farmer, and the blacksmith and the pharmacist and the merchants and many common folk knew the law, and knew the meanings of the words used. They weren't distracted with foolishness that consumes the minds of our youth to the point of insanity like today.

Today the people do not know common law, or the UCC, or the wordsmithing that controls most of us. If we were as smart as our forefathers and kept up our part of the bargain we wouldn't have this craziness like we have today.

I'm afraid, that any FIX, will have some major flaws for "the people", as usual. I am not optimistic.

Originally posted by toasted
I think that anything that makes good sense, hasn't got a snowballs chance in hell of fixing anything.

Maybe not! But Everyone in the U.S. regardless of who they are needs to tell
the powers that be ENOUGH!

I wrote my congressmen and senators what I thought of their bailout plan, this is what I wrote them verbatim.

" Are you people NUTS!"
"700 billion to the people who cause all of this."
"They should all be thrown in jail."

You may not get a reply but do it any ways!
What do you have to lose?

Wing-Nut

i HEARD ON THE RADIO THE OTHER DAY THAT (caps) an email was going around the net doing the math for you. To summarize.

We need 700 billion to save the economy which will fail if more banks fail. The US only has around 300 million people. If we give every American One million dollars the economy would be saved, everyone could pay off all or most all of their debts the the American tax payer would save over 600 billion dollars.

We know the later version wont happen. WE know the very notion of it is economic suicide. But the government is going to do it anyways. Only your not getting the million dollars. Instead the people that ran their companies poorly shall get the extra big Christmas bonus because the already spent yours in July.