I read in the paper this morning that the Federal debt will cost every household something like $577,000. Now, I'm not going to sit here and argue over who got us here, Republicans or Democrats, or muskrats. It really doesn't make any difference after the ship hit the iceberg, who might have had a little too much rudder one way or the other. My comment is on that number-$577,000. I have confidence in the powers that there are some bright people in the right places that have legitimate degrees in finance and economics from known colleges that are low enough on the GS pay scale to still have to pay their own bills and are really thinking this was the best thing to do. I get that. I want to throw my two-cents in because, well, this is my blog and I can.
I want the money.
Now, I don't have a degree in Finance, Accounting, or Economics. Those degrees, frankly, would have caused me to paint my walls with grey matter a long time ago. Nope, I have no idea what I'm talking about. But I do have some common sense and sometimes even a blind pig will find a walnut or however the saying goes. Track with me and see if you don't say "Hmm, the white boy may have somethin', Maude."
You give me the $577,000 (hereafter referred to as the $$). I turn around and clear all of my debt. Now, for some of us, that won't be enough but I figured if you are that high in the debt ratio, you don't need it in the first place and your house in the Hampton's can just wait for that extra coat of paint.
If I take the $$ and pay off the mortgages, I am clearing my bank's debt; I have just relieved their receivables and AIG's obligation to insure it against default. That debt can now be reinvested back, via the bank, to another investment opportunity, maybe creating jobs-reemploying people. Now, that money I got from the Feds, maybe part of it is taxable and counted as taxable income. That means they get some back. Whatever money I don't use, I turn around and beef up my 401, thereby investing in the stock market, almost ensuring my retirement plans or at least making them and me feel better about retirement and not becoming a ward of the state or living in a friends garage at 80.
Now, there's always someone who will take that money and go to Vegas, bet it all on red at the roulette table. Those are members of the "herd" we will always have and need to be thinned but what can you do? The rest of us, however, the farmer rebuilding that John Deere, the baker replacing that Vulcan oven with a newer one, the candlestick maker--well, you get what I'm saying, will buy crap we need, employing more people. I think we, the people, would allocate that money pretty well. If we did, we would all win. Even those that mis-spent their allotment would feed the system, like a dead carcass starting the food chain with the flies and worms. They bet on the ponies at one of the local Indian casinos. Obviously, the casinos benefit and hire more people. The individuals who just lost their money, drink their problems away, stimulating those depressed areas in Kentucky to grow more grain for Jack Daniels. On the drive home, they run off the road and into a tree, destroying the tree thereby stimulating the dramatically hurt landscaping industry. The investigation and subsequent arrest help my son's-in-laws and promote hiring more police, thereby employing my son. The driver, is transported to my daughter's hospital, ensuring her job and helping out the gauze and bandage industry. We all win.
All we need for this to happen is for us to get our check. Of course, we can only get it with a valid driver's license, an original birth certificate, and one credit card with our picture on it.
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