A Modest Proposal
Feb. 25th, 2009 09:09 pmObama et al. are printing several trillion dollars/getting us into several trillion dollars more debt. This is going to satisfy bank shareholders and mortgage-holders. In my hopelessly simplistic economic understanding, printing that much money leaves us vulnerable to inflation, and, quite conceivably, hyperinflation. So, if we're going to suffer the ill effects in the form of worthless money and higher future taxes, why stop there? Why not print enough money to make everyone whole? Why not return IRAs to their June, 2008 values, provide salaries for companies to re-employ their laid-off workers, and re-fund pension plans hamstrung by the market? For that matter, let's replenish Social Security and Medicare until 2081! China may pull the plug, but it may be in too deep, too.
Just a thought.
Just a thought.