The feds are prepared to lend 7.4 Trillion dollars... What if that was divided between american citizens?

The money would be squandered and wasted by most. Why not put the money into banks as planned. Anyone making $50,000 or less with a bad mortgage on their "primary" residence and facing foreclosure could apply for a new fixed rate mortgage at an extremely low rate. Say 4%. The first payment would not be due for 3 months giving the desperate homeowner time to fix his/her finances. The bank of course could easily analyze the borrowers financial obligations to determine if they are in need of further govt assistance. If warranted/qualified the bank could also consolidate the eligable homeowner's other bills at a low fixed rate, to include automobile, credit cards, etc. Each bank would receive a 1% administrative fee from the govt's money and now have an investment with the new customer. Two percent of the interest would go back to the govt and 2% to the bank. On a $200,000 mortgage this would be substantial profit for the bank and the govt would be easily repayed. Each person taking advantage of this govt assisted program will know this is the one and only time they will be eligible for such assistance. They would be required to take a financial mangement class through the lender. If they screw this up they are on their own forever. Of course this would only be for homeowners with mortgages going into forclosure through bad lending pratcices.

The govt can also use some of this money to shore up social security, which is not really that big of a problem. Congress reallocates money from social security for other programs creating the problem. Something they hide from the public and can be made to stop.

I agree with you. If anybody gets welfare it should be the people. Let the bad businesses die, and let new ones take their place. Families that have an income of less than $100k and single people with incomes less than $45k should get the money.

The money to pay for this will come from China, who will just put it on our tab.

If you give everyone a bunch of unearned money, prices will go up dramatically. To the point where that $20,000 check will only get you a new pair of shoes.

Besides, lenders don't WANT the debt all paid off early - lenders make money by you paying interest on the loan. If you pay it all off early, they don't make any money.

Inflation. Massive unemployment.

Drop 7.4 Trillion Dollars of liquidity into any economic model and watch what it does to inflation. That's why.

Just imagine how many people would quit their jobs if they got a big fat check? What do you think that would do for the economy?

It would devalue the currency more than it already is. Sounds good, but in reality, not such a great idea.

Send it to only those of us who actually pay federal taxes. That eliminates 40% of the American families ..mostly Obama voters.

They'd waste it all on drugs and hookers.

and really big SUV's.