Posted by: endithinks | June 24, 2008

On the Housing Problem

I just read an article today about the senate scrambling to be a savior.  The article is here and I must say I am dissapointed with the direction that they are going.

Now I’m a liberal through and through in fact I wear it as a badge of honor, which you can probably see if you look really close and kinda squint your eyes and do the thing where you twist your head to the side like a very very confused Cocker Spaniel who just heard a colorful noise, but I disagree with “bailing” people out of their poor decisions in the manner in which congress is moving.

I do think that it is important that we help people who made poor decisions when it comes to their housing, after all many of them were so caught up in the American Dream of home ownership they failed to read the fine print, failed to think deeply about the fact that many of them were turned down for credit cards yet they could somehow qualify for a mortgage loan, and of course the worse blunder of all, trusting a salesperson to give you straight talk.

What we should do is somehow assist the people who are underforeclosure with education, training and perhaps a “helping hand” type of financial assistance that will help alleviate not eradicate their spending problem.  I do not think it is the countries best interest to completely “get out of jail free” style of assistance will help us in the long run if people do not at least have a component of financial responsibility training.

Another problem is where is the money going to come from?  We have just received a silly stimulus package that was funded mostly through taken out more debt and we also have less money coming in due to the brilliant idea of Bush to cut taxes of the wealthiest of us (a practice McCain wants to copy).  How are we going to pay for this action?

I do feel terrible that people have been swindled, but they were the ones who signed that dotted line.  Let the buyer beware.  I hope that we can resolve the problem without throwing money at it.  That is not a very effective way of teaching.

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