Wednesday, February 18, 2009

Obama's foreclosure rescue plan

The NYTimes' David Leonhardt reports on the nature of the likely recipients of Obama's foreclosure rescue plan:

Many took out loans they were never going to be able to afford

Seriously, I live in America?

Have we officially prohibited personal responsibility?

This is beyond ridiculous. I mean, I know some people were hoodwinked... but apparently there were many, many people who knowingly took loans they knew they couldn't afford. And now I have to pay to keep them in their house?!

Tim White

1 comment:

Anonymous said...

Yes...don't you remember Obama speaking about "sacrifice" in his speech on election night? Other rhetoric which comes to mind includes "spreading the wealth." Obama also accused McCain and Palin of making "selfishness a virtue" by not paying more in taxes and helping every U.S. citizen with their problems. Joe Biden said it is our "patriotic duty" to pay more in taxes.

We certainly do have the change Obama promised, however, the change is leading us in to a downward spiral---no one is accountable for their own actions and everyone needs to bailout everyone else. I see no end in sight--or at least until 2010 and 2012.