I was watching Jon Stewart last night at 8 (because I'm totally in love with him, but that's for a different post :-) Anyway, he stated something that I have been thinking about for a few months with regard to this 800 billion stimulus package (not to mention the 750 billion that went to the banks) -
What if the government gave that money to the taxpayers and ensured that they would ONLY pay off their debt? He called it the "trickle up economic theory". This way, the banks get the money they need while our income is freed up to pump back in the economy in the form of purchases.
Do you think it would work? If you were handed a large chunk of cash to pay off your debts, would you? Or would you go buy yourself a new jet? :-)
I'd pay off my debts. And if i had any left over, I'd have some fun with it. A jet? Not so much. But stock my freezer with food? You bet.
Answer by christaberk at 8:16 AM on Jan. 29, 2009
Answer by grlygrlz2 at 8:17 AM on Jan. 29, 2009
Answer by grlygrlz2 at 8:23 AM on Jan. 29, 2009
Answer by missv66 at 8:23 AM on Jan. 29, 2009
Answer by missv66 at 8:24 AM on Jan. 29, 2009
I"ve kinda thought about this one myself. My theory was if the government instead of just handing over billions of dollars told the banks to divide the money to go into two phases first phase take all the customers behind 30 or more days on a loan and pay the back owed amounts then renegotiate the terms of the loan so the payments would be lower and they could make the payments you cure one problem. Then phase 2 take the current people and according to what they make re adjust the loans so that they would be lowered and the people would have an easier time making those payments. Then the bank would be getting the money and the people would have an easier time with the loan payments.
Answer by babyfat5 at 8:28 AM on Jan. 29, 2009
Answer by LoriKeet at 8:30 AM on Jan. 29, 2009
Answer by LoriKeet at 8:38 AM on Jan. 29, 2009
Answer by grlygrlz2 at 8:41 AM on Jan. 29, 2009
Answer by driftwood at 8:54 AM on Jan. 29, 2009