What Does It Really Cost YOU??

Like you, I have been sitting listening to the news mention various bailouts, loans, and other prop-ups to mismanaged companies, purportedly to help or save our economy or even that of the world.

Bear Stearns, AIG, Fannie, Freddie, FHA ... you have heard it also. I felt that I needed to do some math to see what was really happening. It was an eye-opener!

According to the 2000 census, there are 105 million households in the US. Each household represents an average 2.6 persons. So things will change if you have 3 kids or if you are single, but start your calculations with these estimates.

I started by wondering what it meant when I heard the word "Billion." So I divided one billion by 105 million and computed that every 'Billion' actually means a real $9.52 to your household.

I was onto something, and looked up what has been reported in the government rescue funds for the Wall St. fat-cats. (Please note, that reports vary and I chose not to fight the noise and took the first source I found that showed all five companies: Bear Stearns, Fannie Mae, Freddie Mac, AIG, and FHA.

http://money.cnn.com/2008/09/18/news/economy/bailout_tally_taxpayer/index.htm

[COMPANY] [PROP-UP (in Billions)]

Bear Stearns	29
Fannie	200
Freddie	200
AIG	85
FHA	300

Then I added the prop-ups and applied YOUR $9.52 to see that we have spent, loaned, or committed $814,000,000,000 and that means $7,752.38 of your household's money. Feel like coughing that up tomorrow? Next week, month, or maybe next year?

This is a single big bill, but I went on to wonder about something else: Iraq.

There are conflicting numbers of $10-12 Billion per month spent in Iraq. (SUPPORT the troops, this is not about the troops, this is about your household monies!)

Every month that we spend $10 Billion, your household is being indebted to the tune of $95.24 and if it is $12 Billion, your bill is 114.29 per month! That means that your annual bill for Iraq is $1,142.86 to $1,371.43.

Makes a person think that they actually have a tangible part in these happenings.

Peace someday.
-jb

Open Question to Obama/Biden Ticket

Gentlemen, Last week I asked some questions to the GOP ticket and this week it is your turn. This will have to be quite short, so you will temporarily receive brief questions and I will come back and edit them by adding more context dialog, expanding on the questions to be fair with both parties.

1. With all the financial 'bailing out' such as with Fannie and Freddie, should not someone go to jail? My question is who and why?

2. The last 8 years has seen drastic erosion in several of the Rights we have expected from our Bill of Rights. Which will you completely restore to us, when and why? Which will you not restore completely, and why?

3. Will you make an absolute public stand against any and all torture, and live up to it?

4. We have a large group of 'detainees' - I want them to get justice and if guilty be punished. When will this happen?

As I said, I will expand and expound on these questions, but this is probably sufficient to get some answers...

-jb