Why the US government should have bailed out the middle class instead

The recent spate of banks (not to mention the Automakers) rushing to the Treasury should be discouraged by President-elect Obama. Why? For one thing, these banks collapsed because ordinary people who obtained the sub-prime mortgage in the first place were unable to meet their obligation, thus the banks losing their income. The in-coming President should instead offer loans to these borrowers to repay their mortgage (with interests).

And how would they repay their loan? Well that's where Obama's health care plan could take off. Instead of repaying the government, borrowers should instead be forced to purchase health care insurance for themselves and their family. Obama then could reduce the burden of American companies by reducing their contribution to workers' health care.

Obama's tax plan could save the middle class enough money to contribute more to their families' health care or increase their purchasing power. That would bring much needed relief to the local economy already reeling with low consumer spending.

President-elect Obama could then concentrate on pulling troops out of Iraq, hunt Osama bin Laden and his troops, create more jobs to replace those out-sourced, invest in green technology and bring peace to the Middle East.

As for the banks who issued this sub-prime mortgages in the first place, it would be wise for them to resist the temptation of making cheap money in the future. Nor should they securitize mortgages to make a quick buck.