Armads said:
But let's see $785 billion divided by 313 million equals $2507.99 per american citizen. That's not really that much dough to throw around. You could argue it would have stimulated the economy more but at the least I think it would have simply prolonged the oncoming forclosures for many families. Bush tried a similar approach in which he gave anyone above eighteen years old a check for 500 dollars. I believe you also had to have been employed though so it was much less money spent, but it had no stimulating effect on the economy. Granted it's one fifth of the size of Obamas bill, but do you really think it would have made much of a difference? |
Why are you dividing it per American citizen?
I said divide it among the 3 million jobs created.
Because said jobs no doubt pay less.
Unless the average pay per job was $262,000.
My point isn't that the bill had no effect. It's that for the amount of money spent... the effect was pitiful... and pointless and damaging in the longrun.
Also the FED using QE had nothing to do with the stimulus money to my knowledge. The FED doesn't require congressional support. So really, it's more like $500,000 per person.
They're planning yet another 500B of quantitive easing for november.
Spending Trillions of dollars to save millions of jobs... is just a bad idea.









