REDUCE MILITARY SPENDINGS, one issue is to pull the hell out of Iraq or start pulling troops out and reduce military spendings. The fact that the US will spend around 700 billion alone in 2008 for military spending. The US spends 48% of the worlds total spending in military. If that isn't saying something then wtf seriously sigh.

Oh btw by reducing military spending we will be able to allocate the money else where, that said it doesn't really mean all the time that they will actually spend it in the right direction though. God I hate this government. We need to go back to the 70s when there were protests everywhere and actually made a difference.

QFT, reducing military spending would save us a lot of money, that and reversing a lot of the Bush tax cuts.  We can all see how much good they did for the economy.  Taxes were higher under Clinton yet those years were wrought with prosperity.

I agree with reducing the size of the military. We need to get out of the worlds business, and get back to defending ourselves. I think Iraq requires us to stay, but once that war is won (and we are VERY close to wining), we need to refocus our military position. The Defense Department needs to get back to defending, and not attacking :p

As for Taxes, lowering them was a win-win. People payed less in taxes, and the government collected more in revenue. Lowering taxes always increases revenue. The issue is spending, not tax collecting.

I'd probably do the bailout thing, only because I don't want to see huge bank like Wells JP Chasemorganstanley bank of America Mutual to buy everything up and be a giant monopoly. So keep in mind that I want to bust up potential monopolies and maintain at least a little competition.

So with the bailout thing, I would have them either:

1) Bail them out and wait for them to get all their stuff together and get back on their feet, or
2) find an investment group (preferably not part of JP Chasemorganstanley bank of America or whatever) that would be able to foot the bill, buy out the loans in question, and take it off of the government's hands.

Iono, other than that, the gov't can't really tell people how to spend their money. If everyone decided to buy into the Nigeria Royal Heir scam and send billions of dollars in Cashiers checks to Nigeria, is it really the government's job to bail them out?

Now where will the government get the funding of 700 billion dollars? I think one option is floating a bond.

Now where would we pay the interest generated from that bond? I'm not sure what bond rates go for nowadays, but assuming its like 4%; 4% of 700 billion is like 28 billion/year.

This interest I think should be paid in a the form of a "foreclosure tax" that will be levied on anyone who walked out on a home and let it go into foreclosure. This tax can be simply taken out of the persons paycheck (withheld, sort of like FICA). The amount will be dependent on the price of the house and will be pro-rated so he pays it off a little at time over the course of the bond (which may be as long as 10 years or whatever). If things are REALLY bad, you can apply for forbearance or deferment of the foreclosure tax, but when things start picking up again, then you'll have to start paying it off.

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The idea of the bond is to have people who have extra money (and who want to invest in something more stable than the stock market) to foot most of the bill, and the idea of the "foreclosure tax" is to put the interest payments on the backs of those who were responsible for the housing crisis.






reducing military spending is one option, but that opens another huge can of worms I really don't want to touch right now.

@coolestguyever: I really hope you realize that the "Invisible Hand" perception of economy have stopped being believed since 1929.

Forget about this whole money thing. Abstract human constructs begone!

put ron paul in charge of the federal reserve

I would get somebody who knows what they are doing to handle it instead of me.

Either that or I would take all the money and buy an island in the Caribbean and become a pirate. Yarr.

woot ron paul

1-take the 700 billion and not bail out the companies that did the bad loans but rather take half and give to the people and half to the banks

After all the reason most of the companies are in trouble are b/c of the bad mortgages and loans they let out

COND1—the companies will be placed under tighter restrictions so they cant get themselves into the current situation again

COND2—for the individual to be able to take this money they have to agree to mandatory educational course that will teach them the basics of money management and a sign contract, punishable by law that they must follow

2--Crank up the difficulty and punishments for bankruptcy, limit it to 2 , after that see below

3—Bring back debtors prison, have them work to pay off the debt owed, making American made products that the sale of will go to the companies owed



Since the root of the current problem seems to be the lack of education on both parts about what to do with money and what it means to take out a loan this is a two step process to stop, then reeducate to solve the problem

Also by bringing harsher restriction about you help “put the fear of god” into people and can avoid most problems, I know a family that has been able to file for bankruptcy y &…yes & times with no penalty at all!