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Monday, 22 August 2011

image for President Obama Unveils Latest Plan to Resolve the US Debt Crisis
A Modest Transaction Fee

Washington DC: The White House released a draft of President Obama's latest plan to resolve the US Debt Crisis. It was written on the back of a napkin bearing the logo Blue Heron Farm, Martha's Vineyard MA.

The president consulted with FED Chairman Ben Bernanke and Bernard Madoff a noted Wall Street financial advisor, via battery powered cell phones, from the 18th hole of his vacation resort golf course. The new plan is to employ Keynesian Obamanomics. All agreed the Republicans in Congress will love it, as no new taxes are involved.

The 14 million unemployed Americans will be provided $2,000 per month in unemployment insurance money. The FED estimates that it costs the Bureau of Engraving and Printing one cent to print a dollar bill. The federal government will collect a modest transaction fee of 11 cents on each dollar spent. A single dollar may go through 50 transactions, the federal government accruing 10 cents per transaction. Employing this financial methodology the US national debt of $15 trillion can be paid off in nine years.

President Obama when he returns from vacation plans to ask for the resignations of his Council of Economic Advisors and Treasury Secretary, who could not come up with such a simple plan. Some of the prospective appointees are only known by their leaked Secret Service code names of Moe, Larry and Curly.

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The story above is a satire or parody. It is entirely fictitious.

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