Sunday, January 25, 2009

Billions and Billions Bailed Out

I've heard a few times recently people saying that instead of spending $700 billion on bailouts we should just chop up that money and hand it out to all adults in the country. This citizen bailout would supposedly give everyone $250,000. That would be great if we could all pay off our mortgages, right? Well, it's great until you do the math. It's kind of funny how even reasonably intelligent people get off by a few decimal places and dollar signs immediately start popping up in their eyes.

Well, taking a nice round estimate of 200 million adults in the country, $700 billion evenly spread out gives everyone $3500 apiece. That's not a bad haul, but not quite enough to pay off my house, unfortunately.

The real question, though, ignoring momentarily where we would even get the money from and how we would pay it back at some point, is how many of my faithful readers would be willing to forgo a $250,000 per citizen bailout? Who would be dumb enough to turn down a quarter mil? Well, think of it another way. I'm assuming that anyone who spends their time reading my blog is probably a reasonably intelligent person who would put the money to good use. Chances are you're intelligent enough that you already see where I'm going with this. What about all the people who aren't smart enough to read my blog? Don't we all know someone who would just do something incredibly stupid if they stumbled upon a wad like that? What about all the people you don't know who would do something even more stupider? Wouldn't it be worth giving up your take, knowing that by doing so you're saving us from half a million rednecks having that much money at their disposal?
photo by kb1jl


B Flat Major said...

I want that jacked-up Caddy with the purple pinstripe so bad. So Bad.

Sterling said...

I of course would spend the money wisely. As a matter of fact, I think I would have a party to show of my new jetpack that I bought and hire Corey Feldman to MC.

Actually, if you look at the money which is proposed to establish a "bad bank" and purchase up troubled assets. The money will be earned back at a higher return as the bank is slowly portioned off to investors. However, I don't see those returns making their way back into tax payers pockets. So, yeah... we can kiss that coinage hasta.