Posted By:
Fred CSOCIALIST?
Well I'm back in the US, back in the US, back in the USSA.....
USSA = United Socialist States of America
You guys shouldn't have sucked me into this conversation....
I'm sorry, please forgive me if I have a hard time sympathizing with people that are overdrawn or economically strung out because they can't manage a budget. Let me see... I make so much money in a month or year and my expenditures are limited to that amount. What's so frigging hard about that? Oh, the banks took advantage of people... I think not... I think people need to learn a few basic principals in math. Addition. I add the amount of money I make to what I already have. Subtraction. I make sure my expenditures do not exceed what I have on the plus side of my bank account.
Socialist is when the government is going to lower not only the interest rate but the PRINCIPAL amount of the mortgage for someone that wasn't too good at economic planning (addition/subtraction). Socialist is having me, the responsible tax payer, pay for the reduction in home mortgage principal by having to pay taxes that will not go towards services that might have otherwise been available. I live in the San Diego area. Each foreclosure on a recently made loan is making hundreds of thousands of dollars evaporate, poof, gone. The government needs to let the market correct itself. Providing a bridge until the unevitable foreclosure occurs is not a bright way to spend our money.
Ok, I'm going to stop before I go into cardiac at the key board just thinking about it.
As was mentioned earlier. I would hope that all parties slow down and create a common goal of figuring out how to fix this mess. Who ever becomes president had better take a hard honest look at the books and they better start on the road to recovery by taking 12 steps back and saying "yes, we screwed up in the past, here's what we did wrong and lets not repeat it".
Well I'm back in the US, back in the US, back in the USSA.....
Sorry about that....