Jonathan Adams
Bailout Brainstorm: What Are Our Ideas?
The Bush Administration is rushing for Congress accept this bailout plan, Democrats are asking for checks on Secretary of Treasury Paulson, and now, John McCain is ready to put his campaign on hold and postpone the debate to focus on the financial crisis ( I guess this is kinda like a hurricane).
Some may have been convinced in the last few days that we don’t know as much about the economy as we thought we did, but there are definitely some people with good ideas about how we should fix this money mess. Let’s hear you.
To start things off, take a look at some numbers from the National Priorities Project (H/T Jill from Jack and Jill Politics) that show you just how much money $700 billion dollars really is.
A healthy and productive economy requires substantial investment in affordable housing, health care, education and renewable energy. Taxpayers in the United States who will be required to pay $700 billion for the Wall Street bailout should also know that for the same amount of money, they could secure the following:*51.6 million people with health care for four years OR
*181.2 million homes with renewable electricity for four years OR
*2.9 million elementary school teachers for four years OR
*27 million four-year scholarships for university students$700 billion is more than what is currently allocated for the U.S. war in Iraq. This amount would allow us to repair all of our nations 77,000 deteriorated bridges and still have $519 billion to spend; or it would allow us to rebuild all of our nations 33,000 deteriorating schools and still have $664 billion to spend.
Trickle down economics don't work in people of color's favor. What are some racially just solutions to this financial crisis?
Posted at 1:11 PM, Sep 24, 2008 in Discussion | Permalink | Comments (4) | TrackBack (0)
Comments
Here is an idea for a bailout plan.
Let Wall Street work for the bailout. Make Wall Street pay for an updated electrical systems and updated grids so we can use wind for energy. Unemployed US workers can be used for this national job.
So, Wall Street gets bailout, US gets updated energy lines so we can be more energy independant by using wind and unemployment rates will drop.
Just a thought.
Rachel Shurman
Posted by: Rachel Shurman | September 26, 2008 07:09 AM
Give $1,000,000 to each household with the understanding that you have to use part of that money to pay off your mortgage. If you don't already own a home, you would have to agree to purchase one. By paying off your mortgage you bail out these companies and end up with a home in the end instead of the plan in place now to bail out the companies while leaving you with nothing but a 7 hundred billion dollar bill to pay off. Each family could pay off their bills, buy new cars, invest in the stock market and use the money in ways that would do more to stimulate the economy than the bill that's on the table now which does nothing for the tax payer and everything for the corporate idiots.
Posted by: David Rushlow | September 30, 2008 08:36 PM
My thoughts on the Bailout are as follows:
Send a letter with a return addressed envelope to all citizens of the United States, asking for a donation to help with the
Bailout that will be tax exempt. The rich obviously contribute to charities all the time. I don't think that it could hurt.
Posted by: Kami Bailey | October 1, 2008 03:41 PM
I believe that under the US new presidency, he would primarily focus on the financial crisis situation. U.S. Secretary Henry Paulson has planned to use the second half of the recent $700 billion financial rescue program to buy up all of those devalued mortgages that flutter in the wind like so much confetti. Payday cash loan is a form of consumer credit, that industry should receive aid as well. With a strengthened economy backed by investors in the world market, a more stable job market will result, and with a more stable job market, fewer people will have to depend upon payday cash when the chips are down. Click to read more on http://personalmoneystore.com/moneyblog/what-are-personal-loans/online-payday-cash-who-knew-it-was-so-easy/ "> Payday Cash
Posted by: Lisa P | November 17, 2008 03:08 AM