General Question

kevbo's avatar

How much of our $9.7 trillion bailout do you think you'll see trickle down?

Asked by kevbo (25644points) February 10th, 2009

http://www.bloomberg.com/apps/news?pid=washingtonstory&sid=aGq2B3XeGKok

With the implementation of the most recent stimulus package, that’s how much money the U.S. will have thrown at the bailout since Sept 2008. It’s enough to pay off 90% of all U.S. mortgages or to give $1,430 to every man, woman & child on the planet.

If only I was smart enough to understand why they can’t do more to get the economy back on track.

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14 Answers

loser's avatar

Oh… zip.

eponymoushipster's avatar

well, i got that much back on my taxes. but as for the bailout, i’m thinking we’ll all get a free dr. pepper, just like we got from Chinese Democracy. or maybe, like $19.99.

aprilsimnel's avatar

@eponymoushipster – You got a free Dr Pepper for buying Chinese Democracy? Hahahaha!

Seriously, though, unless I become the mistress of some high-flying banker, which is unlikely, the tax rebate this year and the stimulus check I got last year is it for my share. I’m about 20 degrees of separation from the money in this current plan.

eponymoushipster's avatar

@aprilsimnel didn’t you?

as an aside, do you think Axl delayed the album as a commentary on the state of democracy in China?

Noah_D's avatar

75ยข?

wundayatta's avatar

Well, if it creates 1 million jobs at 50K each, that 50 trillion dollars in people’s pockets. Even if it only creates 500 thousand jobs earning 25K each, that’s 12.5 trillion. Not bad return on a 9.7 trillion investment.

kevbo's avatar

That’s a great point (lurve), although I’d split hairs with you and say $36 trillion to $10.1 trillion after taxes (28% to 19%).

But, we’ve already lost at least a million jobs since 2008, so the best we can hope for using these parameters is to break even on jobs, and we’re still out $9.7 trillion. Even if we subtract the cost of the war, we’re down roughly 8.9 trillion.

Mizuki's avatar

We are all screwed. Anyone have a cardboard box they want to rent out?

cookieman's avatar

I’m with @daloon. If it translates into a better job market so my wife can get back to work – I’ll be thrilled.

All the other items (some I love, some I like) are frosting on the much needed cake of job stability that we need, IMHO.

wundayatta's avatar

@kevbo: when I first set up my little spreadsheet, I said 3 million jobs, but I didn’t want to make it too unbelievable. What I’m trying to show is that the 9.7 trillion doesn’t have to do much to get a good return on investment. However, it could well get a much huger return on investment that we can imagine. Of course, it could also be smaller.

The point is, no one knows. To say it should create 500 thousand jobs at only 25K per year, it seems to me, is being very conservative. I think that it will create far more than that. I sure hope so.

eponymoushipster's avatar

howsabout we all move?

Thegary's avatar

HA! Do you really believe it will create all those jobs? It will sink into the pockets of the execs that screwed it up in the first place. I think if we are going to bail out these corporations, we should force the people who ran them to take a SERIOUS pay cut. (I doubt my idea of jail or public flogging will fly).

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