$900B in the hands of the same greedy folk will produce the same greedy result: grief.
Greed will always bring grief. (Proverbs 1:19)
Giving to the poor is a loan to God. He repays. (Proverbs 19:17)
What if we took that $900B and gave 9 million productive middle-class citizens $100,000 each and told them, this money must go towards a savings that can’t be spent for 2 years, a mortgage, credit card, student loan, food, or some community organization that is helping people during this crisis? They would also have to volunteer 300 hours of community service over the next two years. Would that not stimulate the economy?
February 7, 2009 at 1:25 am
And it’s thinking like this, sir, that makes us all think you need to run for office some day.
February 7, 2009 at 12:42 pm
I have looked over your blog a few times and I love it.
February 7, 2009 at 1:24 pm
I suppose that giving $100K to 9 million middle class Americans could stimulate the economy if we were able to ensure that they spent that $900B in a broad enough sense through various economic sectors.
People tend to purchase “staples” first, then move on to clothes, electronics, cars and perhaps homes…and dining out. So, I think that some sectors/industries would see more of an immediate benefit, however other sectors probably wouldn’t. Thats’ my guess.
February 7, 2009 at 1:35 pm
Yes. That’s why we would impose strict use of the money – mortgage, paying off (or on) loans, charitable giving, or whatever else we thought made sense.
How we regulate the spending, is the challenge.