Because your suggestion is an unprecedented and very anti-typical-American policy.
If you sat a bunch of economists in a room who focused mostly on tax policy, banking, and the US Economy, and asked them what the biggest and longest lasting thing we could do for the US Economy, it would be combining the two things we mentioned and forgiving all that debt overnight. Just paying it all off overnight.
Similar to what they tried to do in Fight Club but instead of destruction, it would be economic benefits.
The $1200 a month a middle class family pays for their unsecured debt obligations each month does little to boost the economy. If all of those funds went directly into purchasing goods and services, it would have a giant impact short term and long term, on the economy. This is such a crazy idea that I want to see it happen. I want to see the government run a beta program in a city to see what happens.
Try Detroit, first: large enough city with enough poor people problems that it could make a huge difference. Only those living in the city 5 years or more could qualify for your idea.
I want to see a study done. 🙂
Originally posted by BrolyBlack
The tax payers bailed out Wallstreet. **** is let’s bail out the kids now.
ahahahaha
haermm
Someone did the math on that. They added up all the bailtouts and calculated how much money each American would get. It was a lot. The often touted $700 billion wasn't the only bailout given and it's a red herring. That one site I linked that Robtard could not get to work had all bailouts listed since the financial crisis and it was a lot. I wish that site was still up.