Back in September, when Bush appeared with the Treasury Secretary Henry Paulson, urgently needing 700 billion dollars, or rather just some “big” number to bailout our economy – my first thought was that this is a parting gift to Bush’s financial friends. (As if he hadn’t done enough already!)
My first instincts are usually right, though I don’t always listen.
What we have seen is that that is just what it turned out to be. $200,000 bathroom renovations, a new corporate jet, big bonuses to the very people who claimed how desperate the economic situation was, and the very people responsible for the situation!
Merry Christmas and Happy New Year, Love George W. Bush.
What color is the sky in their world?
And the people who were supposed to be helped by this? Still waiting.
The situation for most of us regular Americans is dire. However, the financial industry simply doesn’t care. As long as they get their bonuses and can buy their jets and renovate their luxury bathrooms, why should they?
We are the peons, they are the princes.
Now, four months later, the new recovery plan is for almost one trillion dollars. Thinking about just how much a trillion dollars is, I was curious to know what that would mean if we, the people, who are the ones who have to pay this back, would get if it were divided up and given to us.
One trillion is a 1 followed by four sets of three zeroes.
$1,000,000,000,000.00
According to one source, the population of the United States is about 303,824,640. If you gave the money directly to each one of us, that would be $3,291.37.
If you used the number of households, which according to one source stated there was 111,162,25 households in the US in 2007, then each family would receive almost $9,000.00. ($8995.86 to be exact.)
I don’t know about you, but I definitely could start to stimulate our economy with my share.
However, for most people, we would just be giving it back to the banks anyway. By the time you get your mortgage up to date, and pay up your credit cards, there’s nothing left to spend, except by using your up to date credit cards.
The banks are going to get it, one way or another.
And just remember, if we include this current “recovery” plan along with the original bailout, we would get almost double.