The Big Yellow Book

Seeing the World from Both Oculars-- a Bananaslug's Journal


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Dear Mr. President--- how one engineer would fix the economy
bigbananaslug
bigbananaslug
Dave Harrold is a golfer. But before he became a dedicated golfer, he was an engineer, sales rep and writer/editor. He still pays for golf by writing...sometimes for me. He posted the following on his Facebook page today:

Dear Mr.President, Patriotic retirement: There's about 40 million people over 50 in the work force. Pay them $1 million apiece severance with three stipulations: 1) They leave their jobs. Forty million jobs created. 2) They buy a NEW american brand car. Auto industry fixed. 3) They buy a home or payoff their mortgage. Housing industry fixed.

I reeally like this idea.

I wonder what we would have to do to really get it adopted?

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Oh, please - make it $3 Million, non-taxable. $120M is still cheap for a bailout, and I'll be able to afford to live in that house and drive that car, if I can afford the insurance on it.

Um. 40,000,000 people, times 1,000,000 each, does not come to $40,000,000. It comes to $40,000,000,000,000. That's $40 trillion, with a T. (Was the math the "April Fools!" bit I'm too literal-minded to notice?)

At the moment, the current supply of US dollars is a little over $8 trillion, so the cost of this plan is roughly five times the current money supply. While the government could do it (there are no Constitutional limits on how rapidly the money supply expands), I suspect the readily predictable inflation that follows would be difficult to live with.

Check your math. 40,000,000 times 1,000,000 equals 40,000,000,000,000

$40 trillion

$120 million total across 40 million retirees would be $3 apiece, not $3 million.

Ummm, guys? That engineer needs to get his ass whooped for not getting his math right. 40 million people times $1 million equals $40 _trillion_ dollars, not $40 billion.

5x the public debt?

(Anonymous)
Just add 40 trillion to the current 11 trillion and you're done.

http://en.wikipedia.org/wiki/United_States_public_debt

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