Monday, February 9

Uncle Sam Wants to Pay Off Your Mortgage

Well, that's not exactly what the stimulus package is supposed to do, but the amount of money that the government is committing to "rescues", "bailouts" and "stimuli" is - according to Bloomberg, which has actually kept track of these things - NINE POINT SEVEN TRILLION DOLLARS. (I think it has a bit more impact when written out like that.) That's enough money to pay off 90% of the mortgages in the country.

Lemme ask a question: Would you be more likely to get out there in the economy and spend money if the government paid off 90% of your mortgage?

Uh huh, I thought so.

That ain't gonna happen, of course. Instead, the money is going to spent so that billionaire bankers don't have to sell their private jets to afford their third vacation home in the Bahamas.

Truly, if you are a banker who is not a miserable greedy lying bastard, you must be embarrassed beyond words. I'll bet you've been considering a job that held in higher esteem, like maybe becoming a used car salesman, or a pimp.

1 comment:

Caroline said...

$1,000,000,000,000.00

Yup, that's what it looks like, 12 zeroes!!!

A billion is a thousand million, and a trillion is a thousand billion.

To provide some perspective on just how big a trillion dollars is, think about it like this: A trillion dollars is the number 1 followed by 12 zeroes. Or you can think of it this way: One trillion $1 bills stacked one on top of the other would reach nearly 68,000 miles (about 109,400 kilometers) into the sky, or about a third of the way from the Earth to the moon.