How do you spend $700 B – fast
By now (unless you returned to earth from another planet an hour ago) everyone knows where the $700B figure comes from. Obviously, the financial stimulus package passed by congress awhile back. But, have you given any thought as to how really hard it is to spend $700B even for the federal government, the experts in spending! And remember we need to spend it fast!
First, though, we should calibrate how big $700B really is. Consider the auto makers Ford andGeneral Motors. Based on the latest data, it would take Ford and GM (combined) almost 13 years to lose $700B!
But maybe we need an army to spend that much money fast. However, even the US Army with all its expertise and capabilities to disperse funds would take over 5 years (based on the 2008 Defense budget) to spend $700B. OK, $700B is a big number, so how are we really going to spend it.
Not with an army of bureaucrats but rather 5 guys all under 45 years old supported by a staff of 40 based on 2 page applications from the financial institutions. All true and I haven’t missed a decimal point on any of these numbers. Here are the 5 guys!
How are they doing? Not bad, so far they’ve spent over $125B. I hope it works!
Posted: November 6th, 2008 under General.
Tags: bailout, finance, money, stock market