Letter: Ideas for the economy
The stimulation! By the time this is read the American taxpayer will have bailed out some of the country's largest and wealthiest individuals and their corporations to the tune of $1.5 trillion dollars -- a figure so astronomical that only a few of President Osama's Economical Stimulus Team paid their taxes. The figure was just too mind blowing. The reason for the bailouts was to stimulate the economy and save people's homes. Or was it?
Congress is so busy saving the economy and wondering -- Who the heck voted for Pelosi -- they can't see the lobbyist for the trees. If your real objective was to jump start a sagging economy, why would you give the money to the 800-pound gorilla that created the sag? Would not a better idea be to give that money directly to the American people? One of the many alternatives was to give each taxpaying mortgage holder $4,000. The money would pay off his mortgage and credit card bills, anything left over would be returned to the government. Think about it! No mortgage or credit card payments for most of the middle class. The economy would be so stimulated, so quickly that premature stimulation could occur.
Such simple economic practices, give the money directly to the people (see Spot run economics). The problem of all the failed mortgages would be solved. The problem of all failed institutions would be solved.
Instead Congress gave the money to the boys who created the mess we are in and hoped they would do the right thing with it. Well, guess what, they did not trickle it down like the theory said. Instead they bought up smaller banks and took lavish vacations on company funds.
Don't know what the right answer is, but somebody should do something quickly. Then Congress can return their attention back to what they do best, like funding studies to try to determine why the University of Wisconsin students consume more alcohol on Homecoming weekend than the country of Lithuania does in a fiscal year.
American governmental institutions seem to have consistently run under the same basic outline or creed for a long time now -- If it's a good idea, we don't have it. Well, it's time, boys. Everybody is watching on this one; I know you won't let the American People down. That would be impossible - they don't expect anything.