Posted on 04/03/2010 10:55:19 AM PDT by bronkburnett
On March 2, 2010, the federal government put another bailout program in place. This one is for homeowner mortgage relief. The government claims that it is meant to help those homeowners who cannot make their mortgage payments and to encourage payments by those homeowners who are deliberately not making them because what's owed is more than the value of their homes.
Of the 6 million people who qualify for the program, only 200,000 have registered for it to date. According to Kiplinger, mortgage companies and the federal government are very disappointed that more homeowners are not taking advantage of the program. Why would mortgage companies be disappointed?
This is another scam on us taxpayers – and it causes more dependency on government.
Just like the real beneficiaries of the health-care insurance bill are the insurance companies, the real beneficiaries of this mortgage bailout are the mortgage companies.
We taxpayers are paying for the bailout of these mortgage companies in the guise of homeowner help. It is just like how the health-insurance program helped insurance companies in the guise of providing health care to 32 million additional citizens.
Those citizens who are financially sound are penalized for financial discipline, while those who are financially irresponsible are rewarded for their irresponsibility – and that includes the irresponsible mortgage companies that made these loans.
(Excerpt) Read more at wnd.com ...
Just like Barney Frank and Christopher Dodd, Barack Hussein Obama caters to Fannie Mae, Freddie Mac, AARP and the rest of the financial/insurance industry.
These mortgage companies made the loans to high-risk borrowers. They made the appraisals that caused hyper-inflation of real estate. They made lots of money in loan origination fees. So why should we taxpayers pay for their mistakes?
Maybe America needs a good rainstorm in the financial/insurance industry. Instead, the federal government keeps protecting it with health-care insurance reform, mortgage bailouts and bank bailouts with monies collected in higher taxes from the rest of us – and telling us all the while that it is doing it to help us citizens, which is bull!
It is time for more tea parties! It is time to implement freedom – freedom to succeed and freedom to fail. That is the American dream.
He's doing it, people know he's doing it, and there's nothing that can be done to stop him it seems.
Pure as the driven snow, Barry Obama?
Everything he does is for the good of our sovereign nation and by the Constitution.
Using tax funds to pay off friends would be wrong and self serving.
Barry would never EVER do anything wrong, I just know it!
What I find most disturbing is that 40% of the people living in this country do not have a problem with the corruption coming from the BO administration. That’s why it’s never a good idea to allow a segment of the population to get away with NOT having to pay taxes.
I don’t think Obama is owned by anyone but the Soros class of people. Unions, Mortgage companies are means to an end. If they outlive their usefulness he will dump on them as well. Anything to help him attain what he wants - ultimate power for him and his puppet masters (who, will dump him at the drop of a hat as well).
Porkulus was a payback to election supporters too. A huge percentage of the money went to keep public employees like teachers on the payrolls. A lot of these folks are represented by unions (read NEA) who spent bazillions of dollars getting Obummer elected. By keeping them on the payroll, the union dues keep flowing, replenishing their coffers so they will have $$$ for the 2010 elections.
Lots of porkulus $$ also went to academia, which probably supported him even more overwhelmingly than unions. The claim that porkulus was to create jobs was just bulloney.
Now we find in the Obamacare law there is a provision that will automatically deduct money from your paycheck for long term home health care unless you opt out. Now why would the gummint do a sleazy thing like that? You dont suppose it could have anything to do with the fact that a lot of home health workers are represented by Andy Stern’s SEIU do ya?
That’s why I am for dropping all taxes but a flat consumption tax of a maximum of 20%. (Including, State, Federal and Local). If you have say 10% on anything you purchase, everyone pays the same percent - including illegals.
“That’s why I am for dropping all taxes but a flat consumption tax of a maximum of 20%.”
This results in double taxation for those living on Soc Security and pension. Income tax on Soc Sec and pensions were paid during the earning years.
Don’t be “vitriolic and troublesome” by criticizing our Barry, albeit indirectly with sarcasm.
how does that stop how the government spends the money? the issue is that Obama is using the funds to pay off his donors. and claiming all the while that he is helping the citizens. he is deceitful about this like he is about being transparent and yet not providing his passports, his college documents, nor his long form birth certificate.
Brilliant, smart, really-really intelligent, all-knowing, intellectual, compassionate, superior Democrats don’t do things like that!!!
How dare they cast aspersions.
/s/
IMHO
TEAPOT DOME....
we need a flat tax with credits for dependents, healthcare insurance, education, and charitable donations. then everyone would be concerned about taxes and the government could be shut down from making hand outs for political gain since individuals would be the ones giving to their favorite charities ... and not the government (i.e. Acorn, AARP ... sarcasm).
That's exactly what I told Senator Shifty Brown (Dumbass - OH) in response to his email trumpeting what a great program this was for everyone, because my home value wouldn't go down if my neighbors home didn't fall back in the hands of the mortgage lenders.
So when are we going to stop sitting on our hands and kick this Kenyan bastard out of our “House that is White,” the term some black racist used a few months ago. I don’t recall his name.
I can’t help it. I’m going to have to live WITHOUT what I paid in to all of these years because it is going to be spent by the time I get there. I’m in my 40s. We all will have to sacrifice to get America back where she needs to be. I’m for dropping Property tax on those over 65 as well so, I doubt many seniors would be opposed to my plan.
Fixed!
The government will still have to fund the things they are constitutionally required to fund. If State, Federal and local are all going to come out of that same pot of 20% cap, then they will have to make decisions on what they fund. If they don’t meet their constitutional role, then we vote them out and put people with better priorities in. It frees up our money to out spend the Unions and all of the others he is redistributing our money to.
We sat around for far too long squabbling amongst ourselves and letting the leftists muddy the water and confuse the important issues for us, while the wolves were surrounding the camp. We groaned but did little else while our schools were overrun by leftists — NO closet Marxist snakes! — while the media collusion and corruption continued and escalated. We beared it all until this scumbag broke the camels back. This is our wakeup call, let’s pray and hope we can keep our resolve and save the country and the constitution in the end. There is time, but we MUST stop squabbling w/ each other. At this point I’ll take ANY RHINO over leftist Democrat. I will NOT let third party nullify my vote. I will not allow leftist media propaganda machine to distract me w/ Republican v Republican, divide and conquer ruse. I will focus on ONLY two things: voting leftists out of congress — taking obummer’s power away. AND activating for 2012 and getting the scumbag out of office. THat’s IT.
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