[SaxxonWoods]

Getting rid of market distortion is difficult. We did it with credit cards, so we can do it with mortgage interest.

Homes will lose about 15% of their value. How many more forclosures will that mean? Also, rents will rise.

The only way to do the deed would be to spread it out over quite a few years, lowering the deduction a little each year. Of course, it would probably be best to wait for the housing market to stabilize and start improving before giving it another whack.

[Dr. Sivana]

Getting rid of market distortion is difficult. We did it with credit cards, so we can do it with mortgage interest.

Homes will lose about 15% of their value. How many more forclosures will that mean? Also, rents will rise.

The only way to do the deed would be to spread it out over quite a few years, lowering the deduction a little each year. Of course, it would probably be best to wait for the housing market to stabilize and start improving before giving it another whack.

I don't favor eliminating the MID, but I appreciate the fact that you have thought through the consequences of doing it all at once. What this (or any other) economy does not need it furious careening by wildly spinning the steering wheel while stomping on the accelerator. When you are going this fast, even the brakes have to be applied judiciously.