No longer playing Mum's the word in terms of the economic crisis crap I keep hearing about from every news outlet and practically everyone who speaks to me during the day.

Here is my brilliant plan.

This would be how I would bail out the sinking financial ship we call our home country.

The billions of dollars our government is pulling from the sky to give to banks should be given to them, yes, but not the way proposed. I think there should be a calculation. I think somehow they should find out the average amount of debt each middle class American has to their name. And then pay off the bills of each American up to that average debt. Yes. That would work.

How? Well, we would never actually hold the money in our hands. We wouldn't be taxed on it, no one would. We would have to fill out far too much paper work, preferably via environmentally friendly online forms. We would chart our debts, let the government know just how much we owe. They would then pay off our bills or at the very least put lump sums of payments towards our bills.

This way the banks would get their money, they'd get it with mortgage debts being paid off. No one would have to foreclose on their home. People would be able to start traveling and spending their money again and the economy would be boosted higher than ever before.

I'm really trying to figure out a reason why this wouldn't work. Whose to say in 25 years the same problem wouldn't happen again? Whose to say in 25 years we wouldn't all be thriving?

Perhaps some sort of business plan with restrictions would need to be in place and if you choose not to adhere to the plan than you won't qualify to participate. So, what restrictions then? Maybe it means you won't be able to sell your house that was just paid off, for I don't know another couple of years. Or maybe it would mean you would be limited for a few years on how much of a credit line you could ever be given. Yes, I think that would work. I would gladly sign up, even with restrictions in place.

*sigh*

Pipe dream, grandiose thoughts of a barely working middle class American mama...

The big businesses would whine. The credit companies would whine. The new construction contractors would whine. I guess it doesn't matter how many millions of people it would help, if it hurts the companies still holding onto their money all the way to the grave...

Labels: bailout plan, economy

The Associated Press reported today, President Bush called for about $145 billion worth of tax relief to stimulate a sagging economy and fend off a possible recession.

During his presidency he has called for tax rebates before, but now seven years later, the economy is in an even a bigger slump.

Bloomberg reported the stats on unemployment: "The U.S. unemployment rate in December climbed to 5 percent, the highest in two years, from 4.7 percent the previous month. Employment growth in the U.S. was 1.33 million last year, down from 2.26 million jobs a year earlier."

And in all his ridiculous vagueness President Bush stated the following: "Yesterday I spoke to members of the congressional leadership from both political parties," Bush said. "I was encouraged by those discussions, and I believe there is enough broad consensus that we can come up with a package that can be approved with bipartisan support."

In other words he is saying he sees a problem, he went to Congress for advice, they told him what he should have already known but due to their far superb vocabulary we will need to wait until he looks up all the words in his dictionary. Once he pronounces all of the words over two syllables he will come back to the public and actually tell us what he plans on doing. Because his statement didn't verify a damn thing.

In reading reports across the web it seems the general consensus is the president seems likely to offer a plan that will include $800 rebates for individuals and $1,600 for households. So we'll see what happens.

You can watch a video below:

Labels: economy, life, money, politics