"The Obama administration will announce a major new housing
initiative that will directly tackle the problem of
the millions of Americans who owe more on their houses than
they are worth. The government will buy loans from investors
at the current value of the house in an effort to stabilize
the market, people briefed on the plan said. The government
will also increase incentive payments to lenders that cut the
principal of borrowers in modification programs. And it will
require lenders to cut the monthly payments of unemployed
borrowers for a minimum of three months."
It happens when we're not paying attention. We can't even imagine the plans that materialize when we're looking the other way. This is not a Democrat/Republic issue. Undoubtedly every administration has flushed bills through the system before we realized it, then we wondered how it happened. It happens because we let it. We have many venues where we can voice our approval, mistrust, dismay, anger, praise, and opinions. It's the internet, the press, Blogs, public meetings, letters and emails to our legislators, speaking to neighbors, educating our young voters.
This spending spree of this administration is more frivious and wayward than any I've known in my 60 years. Learn how much the deficit has increased and ask yourself where the money is coming from. Then ask your legislators where the money is coming from. If you don't approve, ask them to speak on your behalf. WE are the one supporting these bills and bailouts.
It's not the governments role to own banks, auto manufactures, and loans. We need to ask questions, demand honest answers, and speak up!