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Nov. 13, 2008

Dear President-elect Obama:

First, let me congratulate you on your historic victory. I (voted/did not vote) for you, (and/but) like you, I want only what is best for our nation and the American People.

Having said that, I must admit to being more than a little confused over this whole ("bailout"/"rescue") business. On the campaign trail, you repudiated the idea of “Trickle-down Economics,” yet it appears the government is doing little more than helping the upper echelons of the corporate and banking sectors at the expense of the 65 million Americans who voted for you and the 57 million who voted for your Republican opponent, Sen. John McCain.

So here’s an idea -- as long as we’re getting another dose of trickle-down, why not add some “Growing-up Economics” to the mix? In Growing-up Economics, the American People – real flesh and bone human beings – receive financial breaks, too.

Instead of rushing to (“bail out”/”rescue”) the auto industry, or (“bailing out”/“rescuing”) the credit card industry, I want to join the growing chorus of support for the Personal Bailout/Rescue Act of 2009 – the cornerstone of Growing-up Economics.

The first step in the PBRA is the allocation of liquidity on an as-needed basis, up to $350,000 per married couple or $160,000 per individual, to help get Americans out of debt and boost consumer spending. By paying off debts and going on a government-subsidized shopping spree with the money, the economy will “grow up” as more people have less debt and more discretionary income for making big-ticket purchases.

A good starting point would be an $80,000 tax-free, no-application-required lump sum for every American taxpayer, whether they make more than $250,000 a year or less than $10,000. This would stimulate consumer spending like no other government program in history while simultaneously lifting untold millions out of bondage from debt. The banks and the big corporations are going to end up with the money in the long run anyway, so why not invest at the bottom so more people can “grow up” along the way?

Couple this one-time investment in the American People with the ("bailouts"/"rescues") already in progress or being planned for the future, and everybody wins.

I do not expect a personal reply and will be checking the news for updates, but it would be nice if we all had the money by at least six weeks before tax time 2009. I know you have a full plate even before taking office, but passing the PBRA needs to be a top priority – even if Treasury Secretary Paulson doesn’t think so.

Many Thanks for Your Timely Action,

Zane E. Punditty, prop. (your name & organization here)

The Punditty Project

http://www.punditty.com