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My Bailout Letter to Congress

Dear Congress:I have student loan debt.  I dutifully make my payments each month.  This needs to change, at least if you want the American economy to survive.You see, I am sending all of this money to banks.  They are not loaning any money to anyone.  There's a credit freeze.  They are just keeping my money.  This must change.If you cancel my study loan debt, I will spend my money on consumer goods instead.  This will be on a dollar-for-dollar basis.  In other words, every dollar I would have sent my student-loan provider will be sent to Amazon.com, Barnes & Noble, Borders, Best Buy, Circuit City - you name it!You can even audit me to ensure I'm spending what would have been my loan payments.  Even better: We'll set up a special debit card.  Each month you guys will be authorized to transfer, say, $1,000 a month from my bank account to this special debt card...continue to full post

Full post as published by Crime & Federalism on November 13, 2008 (boomark / email).