$700 billion could fund people’s needs

Instead of the U.S. government’s $700-billion (that’s $700,000,000,000!) giveaway to the banks passed by Congress in late September, this money could have been used to bail out the people in the U.S. immediately. How? There are numerous ways, but here are ten examples based on the Columbian Journalism Review, Associated Press and Women’s eNews (Washington Bureau):

* Reimburse home owners, local governments and banks for nearly 9 million foreclosures and prevent 200 million more foreclosures.

* Totally rebuild Katrina-devastated New Orleans and the Gulf Coast three and a half times!

* Guarantee universal health care coverage for six years.

* Pay off the $550 billion in outstanding student loan debt to both government and private lenders.

* Allow 5.4 million students to attend a public university.

* Fund low-cost health care clinics with a full range of family planning services, including access to contraceptives, counseling, testing and treatment for sexually transmitted infections—all for just $759 million—one percent of the bailout.

* Upgrade the most dilapidated bridges four times over, along with coastal levees.

* Pay close to six times the amount of current social security benefits in one year.

* Spend nine times more on education than in 2007.

* Pay the wages of 22 million workers for a year based on the average nonsupervisory, non-agricultural wage of $612 a week in August 2008. (U.S. Department of Labor)

—Monica Moorehead