An Alternative Bailout Plan

How about instead of giving a couple trillion dollars to the financial institutions, instituting a financial holiday — something like FDR created — and use the trillions of dollars to create infrastructure and affordable housing?
We could also raise some more money by ending the wars and cutting back military spending.

Some of the money would be left over to create national health care, alternative energy, and tuition support.

If we needed more money beyond that, we could raise taxes.  With all the spying on ordinary people, the NSA must certainly know where the fat cats are hiding their money in tax shelters.

Sure, there would be problems.  People would need access to their money to get groceries and the like before the jobs were online. But the plan suggested here seems no more outrageous than rewarding the felons for their crimes.

Something patched together by the Treasury this quickly is sure to do more damage than any outrageous suggestions made above.

2 comments so far

  1. John Petty on

    This is a copy of a letter that I have sent to Sen. Obama:
    I agree with most of your policies, however I do not agree with any type of bailout for Wall Street because:
    1. It will increase our national debt and make it harder to achieve the goals that you want during your term in office.
    2. It will weaken the Dollar, cause inflation, and could hurt our credit rating.
    3. It will not restore confidence. It will only show people how bad things are.
    4. Our tax money should not be used in such a manner.
    5. This problem manifested itself in the lower & middle class; and a bailout would be trying to repair it by giving money to the upper class.
    I don’t want to just complain without offering a potential solution. I suggest that instead of another stimulus package; that the $700 Billion be spent on GREEN Energy. Fill the empty abandon factories with workers making wind turbines, solar parts, electric cars, etc. This will create jobs; stimulate investments; and curb global warming. Lenders will be more likely to lend to these projects if the U.S. is involved. You could also sell “Energy Bonds” instead of war bonds. A free check from the government is nice, but the money doesn’t go too far. People want to stand on their own two feet; not receive handouts. It would give people a sense of accomplishment; a common united cause. Once workers started making money, credit would once again free up. The problem with the bailout is that if it does not work, we are out of bullets! It could be the straw that broke the camel’s back!

  2. javier hernandez miyares on

    excellent proposal and john’s letter speaks for me.


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