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Edited on Wed May-06-09 02:28 AM by provis99
I just made a quick calculation: the Bureau of Labor Statistics (BLS) states that in March, there were 13.2 million unemployed in the country. Likewise, the BLS says the US median wage for 2008 was $32,390. The financial sector bailout has cost $700 billion plus. Yet if instead of a bailout, we had simply had the government give every unemployed person the median wage for a year, wiping out unemployment and kicking the economy into overdrive through increased consumer spending, that would only have cost us $428 billion.
We could have ensured zero unemployment immediately, and pulled ourselves out of the recession immediately, for $300 billion less.
Now can someone explain to me why don't we do something simple like that, rather than blow the money on millionaire financial CEOs and bankrupt corporations?
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