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 now wants to add Long Term Care

Obama, once again, is trying to expand the role of government.  The article states it best.

Moving to broaden the scope of the proposed healthcare overhaul, President Obama threw his support yesterday behind the creation of a program to help families struggling with long-term care costs.

The voluntary insurance program, sponsored by Senator Edward M. Kennedy of Massachusetts, would pay a modest daily cash benefit of at least $50 that people could use for a range of in-home services or nursing home expenses.

If you do the math, this could cost tax-payers $18250 per person per year.  Once we offer a benefit like this, we won’t be able to take it away.  Now how much do you suppose the government is going to charge for such a benefit?  A measely $780 per year.  And I bet there’s a provision in there that if you can’t afford to pay that, you won’t have to pay anything at all.

Obama is expanding the welfare society.  I always thought that social security was supposed to take care of these types of things.  Most retirees collect about $18000 to $24000 a year from social security.  The purpose of social security was to be social insurance to protect people from financial hardship.  Why do we need another bill that does the exact same thing?  If you’re disabled, you get disability from Social Security.

How viable is this plan?  It’s not viable at all. Look at the example we have in Social Security.  It’s completely underfunded.  If Obama pushes for this Long Term Care proposal, it will also be underfunded.  Like all politicians, Obama over promises and will under deliver.

Since the government version would only cost $780 per year per person, it is much less than private insurance which is currently around $2000 to $5000 per person per year.  What else does that tell us?  It means that the government is not collecting enough to cover the costs.  The only reason they give us the low price tag is for all of the sheeple to say, “Oh, there is an affordable solution.”  The problem is that it’s just not sustainable.

Obama continues to weaken the economy.  He’s taking a very micro-economic approach.  He needs to look at the macro aspect.  He is hurting business, and in turn, hurting individual people.  He may think he knows all, but he’s just 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 Forced Healthcare

This country was founded on freedom. Freedom of speech, freedom of religion. Freedom to do pretty much whatever we want. With our government becoming more socialistic, we are losing freedoms every day. The loss of freedoms has been gradual over many years. You have to pay taxes. You have to have car insurance. You have to submit to the harassment of the TSA at the airport. The latest in the long line of rights lost will be the requirement to purchase health care.

Under the Senate’s new proposal, those that refuse to sign up for health insurance will be fined $1000.  What happened to personal responsibility?  What happened to freedom of choice?  If someone doesn’t want health insurance, they should be able to take care of themselves.  They should accept any consequences of their actions.  Instead, we have the government, once again, playing nanny to the public.  Here is a quote from the article.

In a revamped health care system envisioned by senators, people would be required to carry health insurance just like motorists must get auto coverage now. The government would provide subsidies for the poor and many middle-class families, but those who still refuse to sign up would face fines of more than $1,000.

The details were unveiled Thursday in a health care overhaul bill supported by key Senate Democrats looking to fulfill President Barack Obama’s top domestic priority.

What if I want to self-insure?  Do people like Warren Buffet really need to have health insurance?  They can pay for it themselves.  It should be an individual choice.  With the push for required health care, the government might as well require other things.  Why don’t they require that congress spend within it’s mean?  That is the kind of legislation we need.  Legislation that promotes responsibility rather than enslavement to the state.

Is Obama more like a Communist or Capitalist?

Since Obama has taken office, he has been many things to many people.  The touts great ideas but when things don’t go his way, instead of taking responsibility, he tries to place the blame on someone else.  We’ve seen in the past that instead of keeping government in check, Obama is expanding government.  Government is taking over every little big in our lives.

I was recently pointed to the following video.  It’s a cartoon from 1948.  This is the stuff we should be teaching in our schools. It’s about 10 minutes long but after you watch, you can decide.  Is Obama more Communist or Capitalist?

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