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According to Bloomberg, the Federal government has committed itself to $9.7 trillion worth of bailouts. Only a small portion of this has actually been paid out yet, but that is what the government says it will pay out if the big banks need it.
http://www.bloomberg.com/apps/news?pid=washingtonstory&sid=aGq2B3XeGKok
If the banks are in trouble because of bad mortgages, then why not just pay off all of the bad mortgages in America? $9.7 trillion is enough to pay off 90% of ALL the mortgages in America, including all the "good" mortgages.
That way, people get to own their houses free and clear and don't have to make payments at all. It would cut down on a lot of unemployement and welfare payments. Those whose salaries get cut will still be able to afford to live on less income.
The current spending bill disguised as a "stimulus" package is like a machine gun shooting all around the target but missing it entirely. It's really just an excuse to enact all those social programs that have been rejected over the years as too costly.
Dr. Stephen Jones has been writing blog posts since 2005 on a variety of topics from Bible Studies to World News, and he has been writing books since 1992. Dr. Jones' most important writings came after God brought him back into the full-time ministry in 1991. It is here that all his earlier years of searching the Scriptures began to come into clear focus. He combines a knowledge of the Old and New Testaments with a personal revelation of God that began and developed during the "wilderness" period of his life, which he often refers to as God's True Bible College... Read More
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