"Brother, can you spare $25,541.05?"

Maybe I have made an error with my math.  I hope so!  You tell me.

According to this article, the U.S. government is prepared to dole out more than $7.76 trillion of taxpayers' money after guaranteeing $306 billion of Citigroup debt.  The pledges, amounting to half the value of everything produced in the nation last year, are intended to rescue the U.S. financial system.

Let's see: "$7.76 trillion" is 7,760,000,000,000 ... divided by the total U.S. population of 303,824,640 ... equals $25,541.05 for every man, woman, and child in the country.  Babies.  Grandmas.  Blacks.  Whites.  Asian-Americans.  Everyone, no exceptions (illegal aliens notwithstanding).

Now then, I am the sole breadwinner for a family of seven.  So my family's share of this train wreck is $178,787.34 ...

Just for fun, let's say I finance that amount at the rate of inflation (~3%) and extinguish the debt at a level of $1800/month -- which is the amount of my current mortgage.

How long will it take me to pay off the debt?  114 months, or 9.53 years.

Seems cheaper to emigrate.
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Comments

[Mom]

Don't tell this stuff to Dan; he'll cancel Christmas -- which he threatens every year anyway. He's not a good little boy; he always gets coal in his stocking -- which he thinks is a good thing b/c he enjoys burning it more than his money. Come over and bring your children. I miss them! And tell Columbia Sportswear that your mommy is a YKKer.