Bailout Brainstorm: What Are Our Ideas?

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 Open Thread | Permalink | View Comments

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

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.

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.

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

Capital is supposed to come from savings. We’re supposed to work hard and save. There’s a lot of things that we can do. For all the clamoring about getting rid of the payday loan industry, some people really want us to have them. For instance, the enormous $787 billion stimulus package, on top of the $700 billion bailout for Wall Street and troubled banks. Capitol Hill and the President have been working furiously on the payday loan to the nation. They hope to be putting it to good use as soon as possible. While it may be a good idea, how long is it going to take to pay it all back, and where are we getting the money from? The national debt is astounding. It is likely our grandkids will be paying off the down payment on it. Who is going to pay it back and when are the kinds of things that are very clear if you need to get a payday loan.