That is a lot of zeros. my calculator doesn't even go that high. You could buy 3 1/2 million houses with a price tag of $200,000 each.
Honestly, I think that would be a much better investment. They could then turn all of those homes into investment properties and collect rent. At least they'd get a yield.
You wont believe this, and do not tell anyone ,, but they actually gave a name for it,, billions. i would enjoy a nice recession , depression, good excuse to be lazy no?
The number is not that large in relation to the US economy. If the plan isn't passed, the US economy will likely get quite a bit smaller.
Think of it this way - you could make/win/be given 1 Million dollars every single day, and you still would not be at 700 Billion after 1,900 YEARS.
Says who? Bernake/Paulson? Don't you believe in capitalism, it got us this far. When big, bureaucratic, crappy companies go out of business, smaller better, smarter companies come in to take their place. I call that progress.
if this is in fact acts of financial terrorism... as many government officials have declared then use defense funds to shore up and protect our interests. President already has powers and authority to unilaterally order defense funds to protect wall street. 600B just slid out the back door yesterday for defense spending. Use the defense budgets... A bunch of high tech planes and a Billion dollar radar system in europe does no good here. This damn iraq war costs 2.7 trillion dollars and who receives this benefit? $48K per man, woman and child. http://money.cnn.com/2008/06/11/news/economy/iraq_war_hearing/index.htm?cnn=yes