If you ever injected truth into politics you have no politics.

- Will Rogers

WTF! $25,570? This is real money!

The bailout, in its various forms, is acknowledged by the government to now total $7.7 trillion ($7,700,000,000,000).

According to census data, our recent best estimate of the U.S. population is 301,139,947, which includes illegal immigrants.

How much does the bailout mean for every man, woman and child in this great country--legal or otherwise? $25,570.

Yes, that is correct, the bailout for Wall Street has cost every man, woman and child $25,570. Would it have been better spent by sending a check to everyone in the country? Think about it; a family of four would receive $102,280.

What would a struggling family do with $102,280? Catch up on their house payments, which will help the banks; pay property taxes, which helps schools and local government; buy a car, which will help the auto industry; buy junk, which helps the consuming engine that powers the world economy; invest, which helps growth. What have the current recipients done with money and has it helped? Nothing compared to how dramatic the impact would have been if the consumer had directed the funds.

You do not generally want the government giving out money, but since it has, the question to ask is whether or not it would have been better to give you $25,570, or just give you the bill for the money. You would have made that money go a lot further than the government.

Of course, if they sent you the money, the crony-capitalist friends of politicians could not pull down millions per year for running businesses into virtual bankruptcy.

posted at 16:29:10 on 11/25/08 by clearpolitics - Category: Economics - [Permalink]

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