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"The people who cast the votes don't decide an election; the people who COUNT the votes do." -- Joseph Stalin

Thursday, November 12, 2009

A Simple Solution for Fixing the Economy

This is from an article in the St. Petersburg Times newspaper on Sunday.

The Business Section asked readers for ideas on: "How Would You Fix the Economy?"

I think this guy nailed it! Please find below my suggestion for fixing America's economy.

Instead of giving billions of dollars to companies that will squander the money on lavish parties and unearned bonuses, use the following plan.

The Patriotic Retirement Plan:

There are about 40 million people over 50 in the work force. Pay them $1 million apiece severance for early retirement with the following stipulations:

1) They MUST retire. Forty million job openings.
Unemployment fixed.

2) They MUST buy a new American CAR. Forty million cars ordered.
Auto Industry fixed.

3) They MUST either buy a house or pay off their mortgage.
Housing Crisis fixed.

It can't get any easier than that!

P.S. If more money is needed, have all members in Congress and their constituents pay their taxes...

While you're at it, make congress retire on Social Security and Medicare. I'll bet both programs would be fixed pronto!

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  1. I like the idea, but it's early in the morning, and how much is 40-million-million dollars? 40 trillion? Probably a bit too much money creation, even for the Federal Reserve.

    Hey, I got here via the "next blog" button with the new "same language, same subject" feature. Pretty cool.

    Anyhow, yeah, My thinking is to have the Fed print ONE trillion and divvy it up equally, maybe 10 grand per family or something, and apply the money to paying off people's debt. The money goes into the banks just like before... the Creditors get their money back... the Debtors get some relief... everybody's happy.

    Plus, lending (or borrowing) creates money, and paying off a loan destroys that money... So I think if we print money and use it to pay off debt, the money is destroyed and it is not inflationary...

    Some argument, huh?

  2. This is idea is bullshit. $1 mill x 40 mill = $40 trillion! That is a hell of a lot more than the current bailout amount.

    My idea: Instead of bailing out Wall St, the should have divided the money to give to the working class American people. I think it would have been around $150,000 - 200,000. Allow them to use this money to pay off their mortgages, student loan debts, credit card debts, start a business, etc. The banks regain their money and are able to start lending the money again.

    Obviously my idea can be tweaked, but it is a starting point.


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