OpEdNews - Diary: Alternative way to spend $700 billion

September 24, 2008 at 13:46:21 Permalink
Alternative way to spend $700 billion

Diary Entry by Joel S. Hirschhorn (about the author)

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How about spending that sum to directly help ordinary Americans and the economy?

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Here is an example of how to spend $700 billion in an intelligent way to help ordinary Americans and the economy without bailing out the few that have stolen too much from too many.

Allocate $120 billion for special unemployment payments to those that have lost jobs because of poor economic conditions; $24,000 per person maximum for 12 months. This could help 5 million people.

Provide $120 billion for mortgage assistance to help people cover mortgage payments for up to 12 months.

Designate $300 billion for the nation's physical infrastructure, both maintenance, repair and new construction, including public rail and bus systems; provide it to states based on $1,000 per state citizen. Require that at least 50 percent be passed on to local governments.

Provide $160 billion for a special federal fund that offers fast, low interest loans to small businesses and small farmers.

Joel S. Hirschhorn is the author of Delusional Democracy - Fixing the Republic Without Overthrowing the Government (www.delusionaldemocracy.com). His current political writings have been greatly influenced by working as a senior staffer for the (more...)

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