Tulsa Topics

So let me get this straight.... we give a bunch of taxpayer money to financial institutions interest free.  They in turn loan it out to taxpayers with interest.  They might pay back the money?

Is it just me or does something seem fishy about this convoluted thinking?  I know there's more to the EESA than I state above, but in a nutshell that's basically the crux of the situation.

Although President Bush was trying to shotgun this one through the political machinery, the House defeated the EESA v2.0 by 23 votes (228 NO, 205 Yes).  Oklahoma's representatives voted as follows:

District 1 - John Sullivan (R) - No
District 2 - Dan Boren (D) - Yes
District 3 - Frank Lucas (R) - No
District 4 - Tom Cole (R) - Yes
District 5 - Mary Fallin (R) - No

For a couple of days I have been trying to get my head around the magnitude of the proposed bailout.  The first step was trying to determine exactly how much a billion with a "b" was.  I billion is 1,000 million or 10^9.  This would be $1,000,000,000 which by itself is an absurd amount of money.  700 billion with a "b" would equate to $700,000,000,000, which is even more absurd.

Based on the CIA Fact Book the US has approximately 303,824,640 men, women and children that live here.  Divide 700 billion by the population and you get approximately $2304/person.  That's how much a bailout would cost everybody in the US.  The CIA Fact Book also breaks down the Demographics of the population into age groups, i.e. 15-64 is 67.1% of the population.  This is the age spread which is most likely to be turning a buck, and paying into our wonderful tax system.  If you divide the number of people that fall into that sector into the bailout price, it's approximately $3434/person.

In comparison the so-called Tax Stimulus Check that my wife and I received earlier this year was only a measly $1200.  I'm thinking the check was just some lube for what is to come.  Relax, lean back, and take it because resistance is futile.