Wednesday, March 04, 2009

What of the $10 Trillion stimulus bailout?

As a result of the nation's largest corporations and banks hitting up and continuing to hit up the U.S. government for trillions in taxpayer dollars, the government is on the hook for close to $10 trillion in assorted bailouts.

As they say on the Hill, "a billion here, a billion there ... pretty soon you're talking about real money."

How real? That $9.7 trillion is more than the U.S. government spent on the Louisiana Purchase, the New Deal, World War II, the Marshall Plan and the Vietnam War -- combined.

Imagine if the government had focused on committing 90% of this toward bailing out ordinary Americans instead, in economic help or loans, and “only” gave a trillion or so to the banks and corporations: Uncle Sam could have sent every single U.S. household a check for $80,000. Now that would have stimulated the economy.

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