If The Government Gives Me $6,500, It All Goes to Bills
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The Great American Debt
With the $819 billion stimulus bill passing in the House (with 0 Republican votes) and moving to the Senate, many Americans are curious as to where exactly that money is going to go. The chances of every taxpayer recieving $6,500 is ridiculously small, but it's a nice concept to think about.
$6,500 would not last long, and not because it would be spent on minor household items or food. Like most Americans right now, I am up to my ears in debt and am looking for a way out.
The average American household is $9,200 in credit card debt, which is staggering compared to my measely $700, but debt is debt. I want to get it paid off and not have to think about it ever again. I also have over $2,000 in medical bills from the past two years along with an extra $1,000 for various others.
Most Americans are in the same situation that I am in, but to a greater degree. I do not believe that I would be the only one to put that money towards bills, then save the rest for the future.
So how long would it last in my hands? If I paid off all of my debt and kept the rest for backup, at maximum a year. But in the hands of most of America? A month, tops.
jdnyc 3 years ago
Thanks for the reply! I agree that it would be nice to pay off the debt and have a fresh start. It would be even better if we could all learn from our past mistakes and challenges and save some money to cover those unexpected costs, as well as reducing our unecessary spending. And it would be even better if the federal government would lead by example, but it seem that the idea is they can take on debt without it affecting the nation... we'll see what happens! I'm hoping for the best in all of this.