Here it is folks. If you think they are just printing money, you were right. Here are the nuts and bolts.
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President-elect Barack Obama’s team is considering a plan to boost the recession-hit U.S. economy that could be far larger than previous estimates and might reach $1 trillion over two years, the Wall Street Journal reported on Saturday. Obama aides, who were considering a half-trillion dollar package two weeks ago, now consider $600 billion over two years “a very low-end estimate,” the newspaper said, citing an unidentified person familiar with the matter.
Simple Math time:
    A.) U.S. Population is 305,890,825
    B.) Stimulus Package could reach 1,000,000,000,000
    Amount per person = B / A (B divided by A)
    $1,000,000,000,000 / 305,890,825 people = $3269.00 per person.
    This sounds great right? Well, if we are in a major recession….where does all this money come from? They are making it up just as if I sat down at my computer and printed $3269.00 on my printer. This is going to in turn continue to weaken our dollar and make things mores expensive. That is called inflation. The amount of money they are pumping into the economy by just printing it is seriously muddying the waters so that it is hard to truely see how bad things are so that the economy can get fixed correctly.
All I can say is if we do all get a big check from the government, use it wisely!
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The final size of the stimulus was expected to be significantly higher, possibly between $700 billion and $1 trillion over that period, it said, given the deteriorating state of the U.S. economy. Officials with Obama’s camp have declined to comment on media reports about the size of the boost his administration might seek to give the economy through increased public spending and tax cuts. |
Tags: money, Obama policy, stimulus
Posted by Richard on Monday, December 15th, 2008 at 10:49 pm.
