Friday, February 13, 2009

Do I have this right?


I always like to check the math.

Let's see, there's 780 Billion of borrowed money about to be spent. That works out to about $10,000 per US family (Approximately 75 million families, assuming not everybody has octuplets), right? $10,000, and keep in mind that this is only one bill. The total bill for the year is going to run upwards of $40,000, since we already spend 30,000 of your money every year. But let's say we're talking about just this $10,000. It's all borrowed money.

Okay, and the "stimulus" part is an 800 dollar tax credit. 800 dollars. One time. Tax credit. Now, if we put that 800 dollars in the bank at, say, 10% interest, we can pay back the 10,000 tab in, let's see, it works out to about 26-1/2 years.

So, we need to spend 10,000 to get back 800. Then we have to hear that we are "doing it for the children". My children are smart enough to ask that we don't do them any favors. In fact, I found myself apologizing to the kids over dinner last night for what we were about to do. Hated to make it their problem, but I explained to them that it's what democracies do just before they collapse.

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