This article to me shows that the government just does not get it or they do in fact want our country to fail. Obama is pushing the bankers who stole a bunch of money from the American taxpayers to loan money back to us. This entire problem in our economy started with banks loaning out too much money to begin with. They made bad loans to people who could not afford them. I blame both the Government, the banks and the people who took these loans. These people who made 30,000 a year were buying 450,000 houses and the math just does not add up. The people were dumb and the banks were even more stupid. The unconstitutional government agencies such as freddie and fannie mae who began pushing these ridiculous loans for lower income people. These people set themselves up for failure by being stupid for accepting these loans. I myself got approved for over double the amount that I actually took for my condo. I told the loan officer he was nuts and I could never afford what he was offering as the math just did not make sense. I could not pay 40%+ in taxes and fees of my paycheck, utilities, and the mortgage they were explaining to me. He would not answer me when I asked if the banks were doing this to everyone. I knew there was a housing issue and that is why I bought a condo with less risk instead of a house at that time.
Obama wants more of the same and more and more Americans will be hurt by this prompting, especially lower income people who jump at cheap money with little risk. What Obama should be pushing is real economic investment in the form of lower taxes to bring capital back into the US from other countries and actually be competitive. We could be a lot more competitive with a lower tax rate than China for instance. Currently we are the 2nd highest tax rate of any other country. We collect more taxes in the US than the entire GDP of all but 5 other countries in the entire world. Next time the left wants more money for this or that just bring up that we give more money to welfare programs in our country than all but 20 other countries total GDP each year. If that is a sign that it doesn't work and we are headed in the wrong direction than I don't know what is.
People we need to lower taxes and the deficit by one mean alone and that is drastically cut government spending by at least 50%. Homeland Security Gone, Patriot Act GONE, at least Half of the IRS gone, CIA gone, 2 large scale wars gone, medicare gone, most of welfare gone, FDA (that passes everything that is bad) gone, USDA gone, ACF gone, ATF gone, HUD gone, EPA gone, Education Dept (each state provides it's own and is useless nationally) gone, FCC (free speech should not be infringed) gone, FEMA gone, FDIC gone, Federal Reserve GONE, NSA gone, Social Security Administration gone, Selective Service administration gone, tricare management gone, Sell off AMTRAK for a half trillion dollars and start putting a dent into our national debt. Sounds to me like if we stayed within the constitution we wouldn't be into to much debt right now doesn't it.
