Obama is rolling-out another BILLION dollars (that we have to borrow) in housing relief in order to BAILOUT 27 states! This is JUST SO WRONG!!! These government housing programs are just extending the pain and NOT fixing the problem. The housing market has to correct itself and cannot as long as the Obama BIG GOVERNMENT programs interfere with the natural market!
Recipients
So who are the chosen states to receive Obama's blessings? They are as follows:
- Alaska
- Arkansas
- Colorado
- Hawaii
- Iowa
- Kansas
- Loiusianna
- Massachusetts
- Maine
- Montanna
- Minnesota
- Missouri
- Nebraska
- New Hampshire
- New Mexico
- New York
- North Dakota
- Oklahoma
- South Dakota
- Texas
- Utah
- Vermont
- Virginia
- Washington
- West Virginia
- Wisconsin
- Wyoming
Is Yours Listed?
Why not all 50 States? Who decides which states gets the bailouts and which ones don't? Is this fair to homeowners in the states NOT receiving the bailouts? Just what is the criteria for deciding who gets what? Doesn't his seem unfair to begin with? Why more bailouts anyway?
If you are a homeowner who is not paying your mortgage in one of the listed states, the Federal Government will make your payments for you!!
What about the homeowners who make their mortgage payments? Why should they have to pay for those who don't? There is no logic in this at all. Existing home sales are down 3.8% from a month ago. Past history proved that government bailouts on mortgages didn't help! Why repeat a failed policy?
The Cost
In 2010 we (US taxpayers) paid $80 BILLION dollars to help homeowners. This year we are committed to give deadbeat homeowners $64.1 BILLION more dollars. That's like throwing money away! The government forgets to tell you that of those giveaways, over $500 MILLION dollars was wasted in fraud!!
Proof of Failure
Home prices are still falling despite the billions spent by Big Government's failed policies. The market has to correct itself. These artificial "injections" only prolong the crisis. Some argue that government intervention actually makes the housing markets worse.
The Reasons Behind the Policies
It's a simple explanation. Obama does not want to quit spending and borrowing because then America would have to face reality. Housing prices would still go down and people would loose their homes. Obama does not want to be held accountable so he tries to push the problem to a later date - AFTER THE ELECTIONS!!
These bailouts have to STOP. It's getting easier to believe that Obama is deliberately trying to spend the USA into bankruptcy. If you believe that he is smart, then why does he keep repeating something he KNOWS will fail? This is his way to "Fundamentally Change America."
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