Wednesday, June 25, 2008

One Bill to Kill Us All

**Warning: I am about to ignorantly bash a political issue that hardly concerns me, so if you get offended or otherwise upset with me, please click the little red X on the top right hand side of your screen and do not post your comments here. If you politely and intelligently disagree with me or would like to inform me of something, then your comments are more than welcomed... if you make it to the end of this very long post.***

I've gone back and forth about if i wanted to post the whole article here or how i wanted to do this, but I've decided that you need to devote some time to this issue and read the whole article yourself and then you can read my blog and i wont have to explain myself. Click here to read the article. Please don't read the following without having read the actual article.

Now that you have read the article, I'm going to say some things that you were probably already thinking.

First off, i am glad that the article admitted in the first paragraph that this whole thing is a re-election scheme, and i am glad that Bush doesn't support it and plans on vetoing the bill.
Democrats and Republicans both eager to claim election-year credit for helping hard-pressed homeowners.
"Hard-pressed homeowners" are a large, desperate consumer audience full of people who made bad decisions or are out of luck and will vote for anyone who will help them out of their pickle despite its long term or large scale economical effects on those who planned ahead and bought what they could afford.
We need to demonstrate to people in this country that have lost an awful lot of faith in almost everything, but certainly in (Congress), that we can get something done, that we can put aside differences and make a difference in their lives.
That is just bad parenting. If people are suffering because they couldn't afford their homes then they need to suffer and do what they can to get into a home they can afford. What a novel concept, but it doesn't get votes.

Still, conservative Democrats known as "Blue Dogs" are concerned about how to pay for the measure, and members of the Congressional Black Caucus call it unacceptable, arguing it doesn’t do enough to address the needs of black Americans.
Is it only the conservative Democratic "Blue Dog" who is worried about how to pay? Geez, who isn't? And who are these Congressional Black Caucus leaches milking this "good deed" for all its worth, wanting their own, undeserved piece of the "freebie pie." Don't they know that their race cards are expired? These beggars also demand more than offered. Read it in the article.

The limit for these loans is projected somewhere between $625,000 and $730,000. Holey moley! If you bought a $700,000 house that you couldn't afford... you need to live on the streets for a little while and learn some valuable life lessons. Beans on toast, my friend: one can and two slices will feed your family dinner.

"We have been working closely with them to try to change the bill in a way that we think that it could be something that the president could sign," Perino said.
"Just word it differently guys... he might fall for it."

It would provide a $14.5 billion array of tax breaks, including a credit of up to $8,000 for first-time homebuyers who buy in the next year.
Another $14.5 billion? Where is this money coming from? Aren't we already in a deficit? Why are politicians running this country and not business men?

"They expect the federal government to turn their backs on responsible lenders and borrowers and renters waiting — waiting — to become first-time homeowners, and support those groups that have pushed our housing market into decline with bad loans and bad investments," said Sen. Mike Enzi, R-Wyo. "This bill is a federal government bailout."
I think that is a wise statement and it took me a minute to understand what he was talking about. There are those good lenders and borrowers who are getting squashed as the government forks out money to bail the irresponsible ones out of their own debt. This is bringing the value of the houses down for those who worked for what they have, and this bill represents the government trampling their needs under their feet.

There is so much more I'd like to say about this bill because it represents a lot of things which i despise about politics and society.
1) Re-election schemes
2) The archaic, and outdated, Robin Hood method of taking from those who earned it and giving it to those who squander.
3) Quick-Fixes to problems that "wont come back to bite us... the next guy will deal with is" attitude
4) Someone tries to do something nice and is taken advantage of (Congressional Black Caucus)

I've done a lot of bashing, so it's only fair that i present an alternative. Ever wonder about the practical worth of a typical academic education? What if with math, English, science, and history, a new, basic, and commonly required subject was Practical Economy or some other clever name where people learn how things work that they will have to deal with in their lives like credit and financing... mortgages and how to budget. These kinds of things that we have to learn from experience or from out parents. What if our parents bought loads of stuff they couldn't afford? We'd do it too because we wouldn't realize that it wasn't normal. I don't know why this has to be novel. This is basic stuff that i would have loved to know about.

Also, why don't we provide a way for these people to get into houses they can afford or encourage them to get what they need to have a better paying job... That way, everyone wins and no one has to drag these useless moochers around all the time.