Sunday, January 3, 2010

Obama Fosters More Foreclosure Misery

Quoting Rasmussen Reports:
“The New York Times reports that ‘the Obama administration’s $75 billion program to protect homeowners from foreclosure has been widely pronounced a disappointment, and some economists and real estate experts now contend it has done more harm than good.’…

The New York Times quotes one expert as saying the administration plan has ‘simply slowed the foreclosure pipeline, with people staying in houses they are ultimately not going to be able to afford anyway.’ The newspaper adds that ‘desperate homeowners have sent payments to banks in often futile efforts to keep their homes, which some see as wasting dollars they could have saved in preparation for moving to cheaper rental residences. Some borrowers have seen their credit tarnished.’…

But then most voters for months have had more confidence in their own economic judgment than in that of the president or the average member of Congress.”
Click the image & read the rest:
Click the image & read the rest

At the core of every Socialist is the false assumption that government bureaucrats are better equipped to run your life than you are. This is just one of countless examples proving the abject stupidity at the core of the Socialist ideology.

You’re doing one heck of a job Barry!
Remember, government primarily created this mess.
As always, the government “solution” ONLY made things WORSE.

I can hardly wait for the (next) government “solution” to health care.
P.S.) Government intervention created our present health care mess!

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