$700 billion dollars. The number 7 with 11 zeros attached. $700,000,000,000
To put some context on things, I've grossed about $470,000 in my entire working life. (And most of that's been taxed, of course, so I don't see half of it.) The government is spending about 1,500,000 times the amount I've made in my entire life to bail out these corporations.
If the government changed their mind and decided to give that money to US citizens, they could write a check to every US citizen for $2,325.58. Yes, over $2000 per US citizen. And that's counting children. Counting only US adult citizens over 18, it'd be 2 or 3 times that amount.
I don't know about you fine blog readers, but I could sure use 2 grand. Bail me out! 
I'm there,Judah. :) 2 mill for you, 2 mill for me.....how how happy, happy, life can be!
ReplyDelete:)
Emily
Only 2 thousand, Em, and don't get your hopes up! :-)
ReplyDeleteJudah,
ReplyDeleteI heard an analogy that went like this. If dollars are compared to seconds then 700 billion seconds would be equal to 325 centuries. I'm not smart enough to check that out (or maybe to lazy) but I know that my great grandchildren will probably still be paying for this one. However, the monetary loss is not the one that troubles me the most. I am trouble by the freedom we are losing as our government is barreling head-long into socialism. I'm sad watching my retirement dollars disappear in the stock market but I am enraged at our ellected officials for selling us out in the name of protecting us from financial loss. It was socialism in the form of Fannie Mae and Freddie Mac that initiated this mess and now they are proposing that socialism will bail us out. I hardly think so.