Wow, the struggling homeowners are excited. All that government help for those being threatened by foreclosure is on the horizon. The incredibly liberal NPR reports that Obama's Phoenix proclamation is a Forclosure Solution.
A Solution!
Let's break this baby down, shall we?
$75 billion. 9 million people.
Let's divide that $75 billion by the 9 million people and see what we get.
That comes out to $8,333.33 per person. So, folks, how much of a dent in your mortgage will a little more than eight thousand bucks make?
The numbers don't add up to providing any serious relief, and Obama knows it. He said 9 million people because he wants those that played by the rules to feel like they aren't left out. But he knows you will do what you always do: Pay your mortgage, play by the rules, and do whatever it takes to survive. You are the achievers. You are the prudent ones. You don't need any help. And for this, you must be penalized.
Those folks that took loans they can't repay, however, screwed up, so they are up against the wall, and that group of people numbers between two and three million. These are the Americans that will benefit (I use that word loosely) from the mortgage bailout. The losers are being bailed out, and the achievers that played by the rules are getting the shaft.
In Obama's Speech on the home mortgage situation (crisis is a word being used way too much by the Dems - notice, everything is a "crisis") President Obama said: "Banks and lenders must be held accountable for ending the practices that got us into this crisis in the first place."
You know who he was addressing there, right? He was calling out those horrible predatory lenders. Problem for Barry is, there were no predatory lenders, and their lending practices were not their idea. They were doing what the government told them to do. The liberal mentality that everyone has a right to own a home, and that by not loaning to high risk candidates the banks were somehow being discriminitory in their lending practices, was to be corrected by the Community Reinvestment Act so that everyone can have a home. In other words, the liberal government agenda that is trying to fix this situation, caused it in the first place with regulations that pressured the banks into poor lending practices.
Obama is telling the banks and Wall Street to live up to their responsibilities, when it was government that created the problem in the first place. Also, think about this: The real cause of this economic downturn, as we are being told, is that people were taking on debt they cannot repay; yet, the government is going to attempt to fix the mess by taking on more debt than they can repay any time soon. But of course, the government is exempt from blame - unless the government is under the GOP's watch, of course, then everything is their fault. Just ask Obama, Pelosi, Reid and Dodd.
Fine, Mr. Obama, make the people feel like you are giving it the ol' college try. But what about the people that already lost their homes? Where is their bailout?
This has nothing to do with bailing anybody out, or saving the economy, and every last one of those elitist, liberal politicians know it. This is a power grab for the Democratic Party, and the liberal mindset.
In reality, the free market is responding just as it should. The housing market has too many houses for not enough buyers, which is driving prices lower. That is how the market works. And as the market adjusts, the people who made bad decisions obtaining loans they had no business signing for should lose their homes (leaving them with bad credit for seven years, and stuck in an apartment or living with family for the time being), and the prudent people should benefit by being able to buy homes at lower prices, thus, eventually moving the prices back in the upward direction, but at a rate that is natural to the free market, rather than rapidly upward because of false stimulus and loans that should never have been given.
In other words, the market was finally beginning to work properly after the government screwed it up with their manipulation - and now they want to manipulate it more, which will reward the losers and penalyze the prudent buyer, and artificially adjust the market again. With this government intrusion the prices won't come down to where they belong to be back in line with where they would be if there had never been government manipulation in the first place, which will then also penalyze the first time buyer who, with the lower prices, would have been able to qualify to buy a home.
The Democrat's plans, in the end, enourages bad behavior by helping those making bad decisions. This, in my opinion, is a glaring sign of an irresponsible government.
And this is just during the first thirty days of Obama's Presidency - what is coming next will really be radical.
As Newsweek proclaimed (and then erroneously blamed it all on George W. Bush): We Are All Socialists Now.
I beg to differ, however. The government under liberal rule may be becoming socialist, and Hollywood under the direction of liberal elitists that don't understand what work is all about may be a bunch of socialists, but the American People are primarily center-right, and are hardly ready to embrace socialism.
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