So the federal government is planning on spending $700,000,000,000 to bailout the failing banks.
$700,000,000,000
There are 303,824,640 (July 2008 est.) people in the US.
That's $2303.96 per person. That's every man, woman, and child.
There are 242,677,893 people age 15 older.
That's $2884.48 per person.
Let's break that down a little further.
Currently there is $10.5 trillion in mortgage debt in the US. $10,500,000,000,000. The average mortgage debt is $250,000, so let's assume there are 42,000,000 mortgages in the US. Instead of bailing out the banks, why not give that $16,666.67 to each person with a mortgage. Apply it directly to the mortgage to help pay down the principal, thus bringing back some of the home's equity, allowing people to more easily refinance their idiotic home loans (interest only, arms, etc).
Ah, but not everyone needs that $16,666.67. Only about 30% of the mortgages on the market are subprime. So, 30% of the 42,000,000 total mortgages is 29,400,000. That's $23,809.52 for each subprime loan. That would definitely help!
Now remember ladies and gents, these total numbers of mortgages are estimated pretty high, so likely the dollar amounts would be much higher.
Imagine that, the government could chose to help damn near every American citizen, but is instead choosing to bailout a few banks.
Still have faith in our government to do the "right thing"???
And for those already opening up Snopes, I just wrote this. This isn't a spam email forward or any shit like that.