$10,000 15-year, $0 interest loans
A new phenomenon has hit the US since the Covid 19: minivans filled with families are lined up for blocks asking for food. They are driven by people used to be making $100,000 a year, and now they don’t have food for their kids. Their businesses have been shut down or they have run out of customers. Workers are laid off from their jobs. They have no way to make a living. In the meantime, the bills keep coming: the mortgages, the car payments, the health insurance bills.
In a social paradox, many “poor” families in the country don’t have the same problem. The are in government financed housing, they get food stamps, they have Medicaid, and they get welfare cash on their credit card each month.
One way President Trump and his fellow geniuses are dealing with situation is by following President Reagan’s philosophy: Deficits don’t matter. That is, give out free money, charge the national credit card, and let the kids handle it in the future (when all us geniuses are in nursing homes or in the grave).
Loans for everyone
Here is RG’s policy – another political genius. Hand out millions of $10,000 loans to individuals and businesses to be paid back 15-year $0-interest payments, not to start until after a vaccine is produced.
Granted, many loans won’t be paid back, but this is infinitely better than handing over trillions of dollars more of debt to our kids.
But instead of loaning money, the government is shoveling out cash, as if they can print any amount they want without inflation and without screwing our kids (talk about child abuse!)
Here’s some math:
For every $1 trillion given out to businesses and individuals, the government could have lent 100 million people $10,000 each.
For every $1 trillion given out, the government could have lent 10,000 people and individuals $100,000 each.
In this way, the government would get most of the money back, hopefully the economy would be more stable, and individuals and businesses would be abler to use their reason and creativity on how to deal with this crisis on an individual level.
And adult citizens will be in a debt, which they can handle, rather than our innocent kids.