At Least It Sounded Like A Good Idea

Posted: October 2, 2008 in Commentary, Economy

Found this suggestion from a reader over at tcpalm.com to sound like…well…common sense.

Here’s an idea: Regarding the $700 billion bailout, we are told if things continue as is, a crisis could mean no credit availability and no spending and thus our economy could come into a recession or, even worse, a depression.

So, why not consider the idea that the government could more wisely spend that $700 billion by giving it back to those of us who make less than $250,000, rather than Wall Street?

Then people will be able to pay their bills, get their homes out of foreclosure, etc., and start spending again, thus leaving Wall Street to deal with the messes they themselves created.

Sounds more logical to me.

Patricia Connor

Let’s think about this some more. I think it is safe to conclude that most folks would NOT spend their government-issued checks reducing debt. In fact, it would create more debt.

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