Quote:
Originally Posted by Brujah
Similar to this maybe?
In fact, a Forbes.com article at MSN Money spells out other possible uses for the $700 billion contained in the latest bailout proposal:
* The nation's bridges need $180 billion in repairs.
* Rail infrastructure needs $185 billion in maintenance.
* $150 billion would provide every American with private health insurance, and also pay for a universal automated health-information system.
* The government could pay off the $500 billion cost of the war in Iraq. "Unlike investments in distressed assets, paying for the Iraq war won't produce a return, but $700 billion would stem the government's future debt obligations to its creditors," the article says.
http://articles.moneycentral.msn.com...00Billion.aspx |
How can you "pay off" the $500 billion cost of the Iraq war by borrowing $500 billion? The fact that they went on to add that it would "stem the government's future debt obligations to its creditors" is even more stupid.
The $150 billion would only buy one year of universal health coverage for every American.
It's not like the govt had 700 billion just sitting around and now the President wants to use it on this financial bailout instead of something else.
We have to borrow 700 billion because it's an emergency...the whole idea of "we could do this or that with the money instead" is pretty ridiculous.