The Business Section of the St Peterburg Times asked readers for ideas on “How Would You Fix the Economy?”. This was the “best” idea:
Dear Mr President
Patriotic retirement
There are about 40 million people over 50 in the work force; pay them $1 million apiece severance with stipulations:
(1) They leave their jobs. Forty million job openings – Unemployment fixed.
(2) They buy NEW American cars. Forty million cars ordered – Auto industry fixed.
(3) They either buy a house or pay off their mortgage – Housing crisis fixed.
Remember: Cheaper than giving away the taxpayers’ money to rich people!
[PduP: But this solution will cost a total of $40 trillion – a bit more than the $12 trillion that has already been committed to the various bailout initiatives!]
Source: St Peterburg Times, February 8, 2009.
