I do way too much thinking when I'm driving. Really I should be paying attention to the road, but the drive to/from work is so automatic my mind wanders and wanders and wanders.
Tonight I was thinking about the economy...again...and getting freaked out...again. All I had to hear was that the stock market dropped almost 400 points...again...and my mind started spinning...again.
So I started to do the math. Assume there are about 200 million adults in the U.S. population between the ages of 15-64. Then conservatively assume that of those 200 million 50% are actively earning money. So we're down to 100 million potential spenders. Then assume only 50% of them have dispensable income available to them...another conservative figure I would think. So now we are down to 50 million.
Then, assume 50 million people represent say 30 million households - assuming some partnerships, marriages, co-habitation, multi-adult family households, etc. So how much could each of those households spend to equal the $800 billion that equates to our pending stimulus bill?
$27,000 U.S. greenbacks folks...per household.
Now I would consider our household (luckily) still one of those 30 million. But here's the thing. We just bought a car in December for, you guessed it, $27,000. Granted it is financed for a few years, but essentially it has been spent. So, I think we've done our part.
Now since this $800 billion is actually the SECOND stimulus package of this amount to be put in place, you can double that household bill of $27k. And just imagine the hangover THAT will create for all of us when the tax bill comes due. So, before they start adding up number three, I think the rest of you 29,999,999 housholds need to get out there and help out this sickly and sad economy. Buy a car. Buy a coat. Hell, buy lunch. Just get out there and open those fists.
(and in the background I hear my Dad..."save your money!")
This math is making me tired.