Archive for October 29th, 2009
October 29th, 2009 | 
Author: 
Jeanette A asked:
What if, instead of the government doing a 700 billion dollar buyout, they gave every American a million dollars to pay off their credit and invest the money in the market? What if they gave each person an assigned financial advisor that would account for all of the money, down to the penny to be sure that it is spent towards its designated purpose? Then the government would in turn save $400 billion and the need for welfare would be obsolete, in turn saving money from that as well? The Americans who are in debt could pay their bills and there would be no need to bail the banks out of failed mortgage loans. Even if they couldn’t pay it all off there would still be a substantial reduction in debt. The money that doesn’t need to be paid in debt would go back to the economy, giving it a boost? What if it wasn’t even a million dollars, what if it was $500,000 or $100,000? Or what if they only gave enough to cover each persons debt? The debts would be paid and both creditors and debtors would be happy? And the government essentially saves money? What would happen?
Troy Therrien
What if, instead of the government doing a 700 billion dollar buyout, they gave every American a million dollars to pay off their credit and invest the money in the market? What if they gave each person an assigned financial advisor that would account for all of the money, down to the penny to be sure that it is spent towards its designated purpose? Then the government would in turn save $400 billion and the need for welfare would be obsolete, in turn saving money from that as well? The Americans who are in debt could pay their bills and there would be no need to bail the banks out of failed mortgage loans. Even if they couldn’t pay it all off there would still be a substantial reduction in debt. The money that doesn’t need to be paid in debt would go back to the economy, giving it a boost? What if it wasn’t even a million dollars, what if it was $500,000 or $100,000? Or what if they only gave enough to cover each persons debt? The debts would be paid and both creditors and debtors would be happy? And the government essentially saves money? What would happen?
Troy Therrien
Posted in Current Events | 
Tags: Banks, Creditors, Debtors, Dollar Buyout, Economy, Million Dollars, Money Market, Mortgage Loans, Saving Money, Welfare | 
5 Comments »