Now today will keep it brief. For some reason or another I think that that 785 billion they just gave the president will be thrown around to fat cats like the first lump sum of said billions asked for by the former President. On the real, I’m been thinking that Obama has that check in his desk drawer and pulls it out every 15 minutes, thinking and saying to himself “dang, $785 billion dollar” and wondering if he should just leave the country. Or that he has already taken Air force One around the country to every check cashing place in the country to cash that joint. Albeit I know he won’t.
But with that said, and the fact he, as the former President has spelled out no plan to use the loot, this is what I would do to stimulate the economy. Yep stimulate, because I have yet to read any form of stimulus, for all I see is spending and just because one spends doesn’t necessarily translate in a stimulus – for spending and stimulus are not the same.
Any who, here is what I would do, from the bottom up, to help stimulate the economy and be reminded, I have only had one class in economics and that was during one semester of my 10th grade of high school. In no particular order:
1] If I did give it to banks, would mandate and stipulate (maybe even sign an executive order) telling banks to refinance all mortgages at the current value of the homes. Banks will get loot and expect folks to pay 300k mortgages on houses with market values of 150k, meaning they get bailout money and the extra loot from a 300K mortgage when the home is not worth such – foul.
2] Offer all small businesses having annual earnings of less than 250k, stimulus checks between 25 and 40,000 dollars. His would encourage spending for inventory and materials as well as research and development.
3] Freeze the requirements of social security and taxes on all business, even pay roll taxes. No explanation necessary.
4] Repeal the marijuana tax act of 1937. This is
5] Require banks that receive TARP funding or any federal monies to use the loot to pay 35% of the mortgage values of homes in or entering foreclosure. This figure would be 45% for those individuals suffering hardship due to recent unemployment.
6] Obviate and repeal the Commodities Futures Modernization Act of 2000.
8] Likewise, provide across the board $5,000 increases in the salaries of teachers working in public sector pre-k through 12th grade.
9] Standardize the credit card industry so they cannot willy-nilly raise, create and change rates at the drop of a hat.
10] Purchase outstanding debt, or mandate that the debt in toxic assets and complex papers be translated or transferred into student loan debt and out right purchased for consumers who have such debt.
I mailed these off to the new administration last week. So what do you suggest?
Addendum: Wonder if Obama smokes