Someone asked does anyone know what 780 Billion is and lamented about the burden on his children and grandchildren. It's a real good question. Here's the math, based on 300 million Americans:
** $780,000,000,000 / 300,000,000 = $2600 per man, woman, and child ... **
Now, $2600 each doesn't seem like a huge burden that can't be paid down in a decade, even with interest, never mind passing it down to our children, grandchildren, etc., of course we should run the math based on actual number of taxpayers.
The problem as I see it is whether the government will actually pay down debt when the economy gets better and these businesses pay back their loans .... I haven't seen anything yet, that says what the government is going to do with the repaid money. I think we all need to address that with our elected officials. WHEN the loans are repaid, the gov't should show the taxpayers the tax burden(liability) is shrinking. Otherwise, I can't help but think, the gov't will just take the repayments, and spend like they've hit the lottery ...
I'm sure all our elected officials will WELCOME constructive comments, constructive suggestions, and constructive recommendations. Shouldn't we ask the US gov't for an internet page, showing who is asking for the handouts, where the money went, the interest, and especially the paybacks, etc. ?? Shouldn't we DEMAND that paybacks reduce the total gov't debt, I think we need to demand that the paybacks are used to repurchase the most expensive USA debt based on the interest rate it was floated at. We need to see that the repayments REDUCE taxpayer liability, and the gov't earnings from special stock, stock dividends, and interest paid to the gov't by these borrowers also goes directly to reducing USA total debt.