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Friday, July 29, 2011
US bail out
IF American financial institutions are so worried about the USA defaulting on debt, why dont they offer the government a bailout? Sure, they will never see the money again, it will not completely take away the negative effects, and some treasury official might get a bonus from it, but, it only seems fair. It's only fourteen million million after all.
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2 comments:
A "Bailout" would entail bond holders selling their bonds to the US treasury for $0.
A lot of social security investments and 401(k) investments (the US equivalent to Australian superannuation) are tied up in US Bonds. For the market to "bail out" the government would essentially mean reducing the savings of investors.
A good way to bailout would be for legislation to be passed so that the government can take away part of people's incomes and savings and use it to pay off debt. This would be called "taxation".
;)
Yes, that was the kind of bailout I was thinking of. Actually. Paying. Your. Tax.
Why 'peoples' rather than 'businesses'?
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