Quote:
Originally Posted by TheDoc
We haven't spent 700b, yet.... and not all of it was for jobs and it's other purpose was to save jobs, which it did do, hell it saved entire States school systems from failing. Point being, it was much more than just a job bill.
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That's something I've asked myself over and over.
They took that stimulus money and bailed out banks. And they helped save teachers jobs (though some of those are questionable lol)
The root of the problem was the housing industry failing and houses being foreclosed on.
Property taxes pay for schools.
Instead of just giving banks a big bailout loan that ultimately did nothing to help the housing crisis which started it and didn't long term save the school jobs...
Wouldn't it have just made more sense to take that 700 billion dollars and pay off all the single family home mortgages?
That would have more than "saved" the banks. People would have kept their homes. Property taxes would still be pouring in to pay for the schools.
Instead...people are still losing their homes in record numbers, schools are now beginning to make the inevitable cuts because of less property taxes (less homeowners), and the banks won't loan shit to anybody.
