The Bailout Plan places additional debt on every American. An baby born today – an American citizen – is in debt. The Bailout Plan calls for $700 billion. How was it decided that this was the number to rescue the economy:
“…”‘It’s not based on any particular data point,’ a Treasury spokeswoman told Forbes.com Tuesday. ‘We just wanted to choose a really large number.'”
link: What Bush Left Out
It is like when a parent asks you how much money you need. It is best to take a shot at a real big number and hope for the best. In this case, the government picked $700 billion. If it is a ‘guessimate’ and not based on the data available, what determines whether this is sufficient? Down the road, is there a Bailout Plan – Version Two?
Catherine Forsythe