Thursday, October 02, 2008

Strange bedfellows on the bailout bill

The Senate passed some behemoth bailout sell-out bill to bolster their buddies on Wall St. DWT posts on the Congresslizards that rose above reptilian self-interest to push for protection for the people, unfortunately to no avail. Meanwhile, Michael Moore posts his own plan that is pretty good.

But that's not the strange bedfellows I'm talking about. Much to my shock, my co-blogger at Detroit News, with whom I've agreed with on exactly nothing in four years, posted an excellent suggestion that I completely endorse. How about we just give every adult American a couple hundred thousand dollars and let them spend it here to restore the economy?

I don't see a downside to this idea. Most people would get the money, pay off their debts and put the bulk of the remainder in the bank, restoring liquidity and establishing a sorely needed savings account base that is currently lacking in the system. People would be able to keep their homes and spend their income on the useless crap like wide screen TVs that has been driving the economy right along. It wouldn't solve the greater problem of over-consumerism, but as a short term fix, what's not to like?

[More posts daily at The Newshoggers and The Detroit News.]

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