It seems that each day I receive more and more emails with ideas for solving our economic crisis. Other emails describe the government stimulus and bail-out programs.  Then there are the newsletters from elected officials, detailing their efforts, their support or their opposition to the various proposals and programs.  

 

Among all of these very serious messages, I periodically receive a light-hearted proposal.  Certainly many individuals and families are struggling to make ends meet with lay-offs, reductions in pay and benefits; businesses are trying to woo customers back into their stores, looking for ways to reduce costs, and bidding much more competitively on jobs.  I know that for me a sense of humor and a willingness to laugh help relieve the stresses of difficult times.  That’s why I want to share this email letter to our President as it contains a proposal for solving our economic crisis.  Some of you may have gotten it in your emails, but for those who haven’t, here’s an idea that may revive our economy.  Or at least bring a smile to your face!

 

 

 

“Dear Mr. President:

 

 

 

Please find below my suggestion for fixing America's economy. Instead of giving billions of dollars to companies that will squander the money on lavish parties and unearned bonuses, use the following plan. You can call it the Patriotic Retirement Plan.

 

 

 

There are about 40 million people over 50 in the work force. Pay them $1 million apiece severance for early retirement with the following stipulations:

 

 

 

First, they must retire. Forty million job openings; unemployment fixed. 

 

 

 

Second, they must buy a new American Car.  Forty million cars ordered Auto Industry fixed.

 

 

 

Third, they must either buy a house or pay off their mortgage. Housing Crisis fixed.

 

 

 

It can't get any easier than that! If more money is needed, have all members of Congress and their constituents pay their taxes...”

 

 

 

What’s missing is whether or not taxes would have to be paid on the $1 million dollars received.  If it’s tax-free, I might just be interested in applying.

 

 

 

On a more serious note, many local small businesses may soon be eligible for interest-free loans under a new program created by the American Recovery and Reinvestment Act (ARRA). The newly launched “America’s Recovery Capital” (ARC) program allows small firms to take out loans of $35,000 to pay down existing business debts.  Borrowers pay no interest on the ARC loans and repayment does not begin for one year.  Any small business that has been in business for at least two years, been profitable for at least one of the last three years and is currently having difficulty meeting current obligations should plan on attending a free seminar on Monday, June 22, 2009 at Washington State Community College from 4:00 PM to 6:00 PM. 

 

 

 

“For businesses that are struggling with cash flow, it can defer current debt obligations so that no payments need to be made for 18 months.  Then business will have 5 years at no interest to pay off the amount of the ARC loan.  This should free up funds to meet other expenses that the business currently have,” said Pamela Lankford, Director, Ohio Small Business Development Center at Marietta.  “I strongly encourage any business that is facing cash flow difficulties to attend.”

 

 

 

The seminar is being co-sponsored by Senator Sherrod Brown and the US Small Business Administration.  SBA will go over other new and enhanced SBA loan programs designed to help small businesses during these troubling times.  In addition, other speakers from other federal and state agencies will explain their small business counseling services.