Obama wants to bail out homeowners

Obama is being dumb again.  This time it’s even more asinine and mind blowing.  According to the new plan, those that have fallen behind on their mortgage would be able to stay in their homes and pay rent instead.  This means that the bank will repossess the home but the people get to continue living there.  This part isn’t so bad.

Under one idea being discussed, delinquent homeowners would surrender ownership of their homes but would continue to live in the property for several years, the sources told Reuters.

One thing I don’t understand is why they would want to still live in the same home.  Generally, rent for a home is more than the mortgage payment.  If they can’t make a mortgage payment, what makes the government think they can make the rent payment?  The only way this would work is if the government is charging rent that is less than market value.  But the following is what really blows my mind.

Officials are also considering whether the government should make mortgage payments on behalf of borrowers who cannot keep up with their home loans, tapping an unused portion of a $50 billion housing aid kitty.

As part of this plan, jobless borrowers might receive a housing stipend along with regular unemployment benefits, the sources said.

So now the government wants to start paying the mortgage, too?  That just doesn’t make sense.  That continues to compound the problem.  That’s the same as giving free money to those that are not responsible.  While we don’t know the details, it probably means that the irresponsible get free equity in their home.  They get to continue to free-ride on society.

And then, those that lose their jobs will also get a housing stipend?  What?  I knew we had welfare for those that really needed it, but this is pushing it too far.

In summary, according to this plan, if I’m behind on my mortgage and then I lose my job, the government is going to pay my mortgage and then also pay me a stipend for all of my troubles.  There’s a big freakin’ problem here.  If the government is going to bail us out every time we have a problem, where’s the incentive to work hard and succeed?  Combine this with the 5.4% proposed surtax on wealthy individuals.

Obama’s administration is really starting to turn into an Obamanation.  Obama needs to learn about economics a grow a brain.  This plan to bail out homeowners is just plain dumb.

Obama’s Team Misreads Economy

Many people wonder why Obama selected Biden as the vice-president.  Biden does not bring much to the table.  When it comes to speeches, Biden seems to be full of gaffes and embarrasses the administration.  If you Google the words Biden and Gaffe, you end up with 350,000 results.  I believe Obama picked Biden so he could test out policies with Biden.  If the policies are successful, they are attributed to Obama.  If they are unsuccessful, the blame falls to Biden, and Obama can still be seen as the savior of the world.

Today we read an article where:

Biden acknowledged administration officials were too optimistic earlier this year when they predicted the unemployment rate would peak at 8 percent as part of their effort to sell the stimulus package. The national unemployment rate has ballooned to 9.5 percent in June — the worst in 26 years.

The Obama administration has had a history of underestimating a problem.  The above quote is not a surpise to many conservatives.  When Obama first took office,   Obama underestimated the changes needed to accomplish his goals to change the Whitehouse website.  Obama underestimates the financial impact of his Cap and Trade program.  Obama underestimates the detrimental effects his Health care plan will have on the economy.

In other words, Obama is full of himself.  He thinks he is all knowing where instead,  he proves how incompetent his is at his job.  Instead of being the executive and leader that we need, he continues to be the apologetic socialist, blaming the problems on someone else.

Obama promised to effect Change.  But the Change he brings is Change for the worse.  Since he took office, we have had the worst employment in a long time, a weakened dollar, and poor international relations.  If Obama continues on his course, he will bankrupt the United States.

Obama’s Cap and Trade Bill and Light Bulbs

The passage of the new climate bill is a terrible thing as it is the largest tax placed on Americans.  While the concept might seem great, the cost of cap and trade is passed on to the consumer.  The purpose of the bill was to help us get away from  foreign oil.  It will actually do the opposite.

When oil producers have to pay a tax, it increases their costs.  Those costs get passed on to us.  Once the costs get too high, the only thing the domestic producers will be able to do is shut down refineries and reduce production.   This bill is going to raise the cost of oil so much that we’re going to start importing oil again.

Besides this effect, it doesn’t help that 300 pages were added to the bill at the very last minute.  How many of the democratic congress men actually read the bill?  To top it off, Obama’s “Energy Czar” hasn’t even read the bill.  Jimmie, from the Sundries Shack has a nice opinion on that.

WASHINGTON (AP) — Aiming to keep the focus on climate change legislation, President Barack Obama put a plug in for administration efforts to make lamps and lighting equipment use less energy.

“I know light bulbs may not seem sexy, but this simple action holds enormous promise because 7 percent of all the energy consumed in America is used to light our homes and businesses,” the president said, standing alongside Energy Secretary Steven Chu at the White House.

And by “better” the administration means “whatever crappy expensive new lighting General Electric happens to be making that might possibly eke out an infinitesimal energy savings, damn the cost to you or your employer”.

Now Obama wants to regulate your lightbulb. I knew that we would have big government with Obama, but this is more than I would have thought.  If Obama would let capitalism run its course, we would have more efficient bulbs.  It is not government that is the creator of new ideas, it is the entrepreneur.  As Obama and his government get more mixed in with business, they will continue to stifle the economy.

Obama pointed out the following in the article.

He pointed to the state of California as an example of what stricter energy efficiency standards could achieve. In the late 1970’s, California enacted tougher energy policies, which the president said, helped create millions of jobs. Today, he said, Californians consume 40 percent less energy per person than the national average.

Ya, California is an example of all that is good. <Sarcasm>  Does that also include their $24 Billion in deficits this year?  Government should be small.  It should mind its own business and let the people take care of themselves.

Obama tax on work cell phones?

It came out over the weekend that the IRS and the Obama administration are looking to tax the use of work cell phones as a fringe benefit.  This is after all of the talk of Obama wanting to tax health benefits that are paid by employers.  What happened to Obama’s promise to not increase taxes for those of us making less than $250,000 a year?  Obama tells us another lie, and the people keep buying his crap.

We have to look further into the issue.  Why is Obama wanting all of these taxes?  It’s not really a matter of want.  Obama actually needs these taxes.  He needs these taxes if he is going to fund his government run health care program.  All of the sheeple out there think this Obama health care is going to be great.  They think it’s going to be free or less expensive.  While you may not pay money when you visit the doctor, they’re paying for it with higher taxes.  That’s the only way things like this work.

While I generally dislike taxes, this type of tax would be more regressive than progressive, affecting those that make less money.  As Stacey Higginbotham puts it, “Cell phones are no longer the status symbols of the privileged few who work in international finance or software sales.”

Keep your health plan, keep your bailouts, and keep your hands out of my pocketbook.

Obama to borrow trillions, proposes “pay as you go”

Obama has told congress to use the “pay as you go” rule for funding of future projects and tax cuts.  In short, “Congress can only spend a dollar if it saves a dollar elseware.”  This is a change in fiscal policy but I beleive it’s just a bunch of lip-service.  Politicians don’t have the backbone to stand up for what is fair, just, and right for the American people.  The only exeption to this rule is for health-care.

According to the article:

It would carve out about $2.5 trillion worth of exemptions for Obama’s priorities over the next decade. His health care reform plan also would get a green light to run big deficits in its early years. But over a decade, Congress would have to come up with money to cover those early year deficits.

This is an example of Obama’s “do as I say, not as I do” mentality.  He believes the rules do not apply to him.  I’d like to seem him follow his own advice.  How his he going to pay for this plan?  So Congress is supposed to come up with money to cover the early year deficits?  I don’t think that is going to happen.  If Congress can barely aford to cover the costs of every day projects, how and where are they going to come up with the money for this dumb idea?  Most likely they won’t.  They’re going to raise taxes and interest rates and reduce any likelihood of an economic recovery.

As of now, our deficits will continue to run huge.  Washington is out of control.   The Congressional Budget Office predicts the deficit will average nearly $1 trillion a year over the next decade.  We’re currently at $11 trillion.  When Obama is done with us, we’ll be over $20 trillion.  We won’t be able to service the interest on this debt.  Obama is destroying this economy and this nation.

We all thought Bush was bad.  Obama is worse.

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