$7.7 trillion.
This week, I finally had the time to sit down and do the math and all I can say is that the argument for bailing out the banks, and not the people of the United States directly, is bullshit.
Every single American.. from the oldest to the newly born, would have received over 25 thousand dollars if the federal reserve was actually interested in helping main street Americans and not their Wall Street chums. Instead, we're still in a recession, the jobless rate is at a staggering 16% (I don't pay attention to the seasonal addition of 120 thousand workers that was added last month, because at least half of them will be fired in January), our infrastructure is crumbling, our schools are failing, we're losing our homes, our savings, our traction in the global economy. All so that banks could climb out of the ditch that they dug for themselves by themselves.
Let's just be realistic about what each American would have done with their $25k. Mortgages would have been paid off, cars and other consumer goods purchased, homes remodeled, medical procedures paid for, student loans paid off, savings accounts padded, etc. Am I missing anything? Or does it seem that every single one of the things that Americans would have done with their money have helped not just the banks, but our small businesses, our big businesses, our schools, our fellow Americans?
So, what would you have done with 25 thousand dollars?
"We are against a system that gives more tax cuts and affords tax loopholes to billionaires and millionaires and increases fees on the lower classes. We are against a system that passes laws to deregulate industries and gives corporate welfare in free rent, under-market prices for mining rights, military projects we don’t need to help contractors profit off of our tax dollars while they target cuts to Social Security, Medicaid, education and other social programs that help the vast majority of the people. We are against the selling off of valuable assets that only benefit the 1% such as the Rosemont Copper mine in Arizona and we are against the selling of our education system for profit while damaging that system." - Tex Shelters
