Posted by
Casper on Wednesday, October 01, 2008 3:51:42 PM
Let's not kid ourselves the bailout's initial cost will be around $500 billion. The final cost will more than likely be closer to the $2 trillion mark.
So I propose a radical new strategy. Instead of bailing out Wall Street, why not send the money to the people who will use it wisely? Why not pay off every American's mortgage? By the time lawmakers finally finish parsing out the dough, the cost will be less to pay off every American'smortgage than it would to buy off Wall Street.
Think of the benefits. Americans free from the mortgage begin spending like crazy. Retail stores pop up every where, new jobs are created and you would save billions in lost revenue tohomeowners who write off the interest on their homes.
If Obama was half the democrat he thinks he is he would propose such a radical strategy. Bail Out America, give us our fair share. Isn't that what Obama's all about anyway? Wealth redistribution?