C
confused
Guest
OK, so perhaps some of you have heard proposals for a different way to spend 700 billion dollars, and perhaps you have heard this one in particular, but does it not make more sense? Use the 700 billion dollars that the government is proposing to spend on busted lenders to pay off all of the outstanding residential mortgages in the country (which if I'm not mistaken pans out some where rather close to 700 billion dollars). If you pay off mortgages, then the money goes straight to the lenders to be loaned out again. In addition, you have a large number of Americans who were burdened by monthly payments that now have additional cash in their pockets. What will they do with that money? Spend it. Economic stimulation and salvaging of lenders in one step? As a side note, I don't support any government plan that spends 700 billion dollars on this mess, but this seems at least a little more logical than what they are trying to do now.