Tonight I was watching"Hannity and Combs", and of course the topic of the evening was the $700 billion bailout plan. There are some of the details of this plan that are just so disturbing. One of the biggest things that is driving me so crazy about the democrats is that they want to renegotiate people's mortgages who are in foreclosure. This bothers me because, what about all of those people who have been responsible by paying their mortgage's on time every month and have been hit just as hard as anyone else has been by this economy. There are lots people just like my parents who have lost lots of value in their homes but are not in foreclosure. These people are paying higher gas prices too, they are paying higher grocery bills as well, and they have watched the value of their homes plummet. So my question to Capital Hill is, are these responsible people going to be brought to the renegotiating table along with all of those irresponsible people, so that they can get a lower mortgage payment as well.
When I here these democrats talk about this issue it almost sounds like they think home ownership is an entitlement and not a privilege. This way of thinking is what got us into this mess to begin with. The reason the financial institutions are failing is because poor people bought houses they could not afford. Now, the taxpayers are being asked to solve these people's problems. I don't even own my own home, so why should one dollar of my tax money go to help someone else buy their home. It's just not fair. They should loose their homes and learn a valuable lesson. And that lesson is, don't borrow more than you can payback. Next thing you know, this bill will include paying their credit cards.
The next part of the bill that I don't like at all, is that the government is going to buy all of the bad paper. All that is going to do is increase the size of our government. The new branch of government will be the real estate department and they will be in charge of selling these houses. Come on people, wake up!!! The government is inefficient in every way. There will be tons of waste which the money will never get back to us and there will be lots of back door deals.
The government can set up an insurance fund for these companies. The companies can pay a premium to the government. Also the government can provide these companies with loans to get them through these hard times which they can pay back to the government with interest. And the banks should keep the bad paper!!! They should cancel out capital gains tax in order to attract more investment which will stimulate the economy and create more jobs.
I don't believe Nancy Peloci's totally out of line speech that she gave right before the vote, is what caused the failure of the bill. This bill goes against our capitalistic country and that is why the republicans did not vote for it. Actually the democrats are playing games because they have the majority which means they can pass the bill without the republican vote. They want to take credit if the bill works and if it is successful but they also want to be able to blame the republicans if it does not work. That is why they want the republican vote so badly.
So with all the games they playing they are still pointing fingers. Amazing!
http://www.youtube.com/watch?v=UVVVzEKauzY
http://www.youtube.com/watch?v=D-n5nkRKsWk
http://www.youtube.com/watch?v=usvG-s_Ssb0
http://themountainsage.wordpress.com/2008/09/17/mccain-called-for-reform-of-freddie-mac-and-fannie-mae-in-may-2006/
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment