Americans’ income and spending drop, despite stimulus

Webmaster's Commentary: 

Look at where the stimulus money went! It went to Wall Street. And what did Wall Street do with it? They wrote themselves huge bonuses with it!

It is estimated that the sum of all spending related to the bailouts has reached $27 trillion (with a 't'). That's about $180,000 per taxpayer.

Now, had the government simply handed every taxpayer $180,000, people would have paid their mortgages. No housing crash. Had the government simply handed every taxpayer $180,000, people would have paid their credit cards. No credit crash. Had the government simply handed every taxpayer $180,000, Americans would have bought new cars. No big three automotive bailout needed. Had the government simply handed every taxpayer $180,000, we would have continued to buy TV sets and other toys. No retail crisis.

But the government shifted the money in the wrong direction. They transferred the wealth from the poor and middle classes to the already-wealthy. And as a result, our economy has gone totally out of balance and commerce has ground almost to a halt. Offering to loan us more money won't fix the problem if we have no jobs with which to repay those loans. More wealth, rather than more debt, is what the people need and what will get the economy moving again.

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