Obama is spending $30 billion that WE DON'T HAVE!
Obama is going to sign a document that allows previous owners of forclosed homes to move back in and pay low rates to get back on track with their money situation. He is going to spend $30 billion that we do not have!
Let him do it.
Side Score: 7
|
 |
It's not right!
Side Score: 17
|
|
|
|
|
1
point
Let me get this straight... Congress and that downsyndrome addled president we have just spent 700 billion that we don't have bailing out millionaires. And you have a problem with Obama bailing out people who have lost their homes? We're fighting a completely unnecessary war in Iraq that is costing us literally millions of dollars every single day that we don't have. And you have a problem with Obama bailing out people who have lost their homes? We've given Mexico enough money to make every single Mexican citizen a millionaire under the guise of a war on drugs. And you have a problem with Obama bailing out people who have lost their homes? Even ignoring the fact that the people are still required to pay for the homes, that the only difference is lower payments for the the people who have had to foreclose. The only concievable source I can fathom that has put this move in a bad light, is FAUX "News." Side: Let him do it.
The majority of the population feel like Congress and President Bush have been acting "under their noses" so to speak when it comes to the bailout. Most Americans (especially the ones I've talked to, and apparently everyone else if polls are to be trusted) oppose the bailout packages. That doesn't necessarily mean that this plan is a bad one, it simply means that the American public is sick and tired of bailing everyone and everything out. I do think that this is a good idea in principle. However, one has to wonder how the economy will ever recover if we keep propping it up. Spending is the right way to get out of a recession, but the powers that be need to be a little more discretionary about what they spend taxpayer money on. Now helping bailout the little man will alleviate the individual's suffering but I'm concerned that this might turn into a patch on an already bad policy, that is the idea that everyone is entitled to own a home no matter how bad their credit is. It may sound callous but we wouldn't be in this mess if the economy were allowed to regulate itself, the recession all started with a real estate bubble crashing that eventually led to mortgages collapsing because people couldn't pay. If this bailout is temporary and the purpose is to bring real estate prices back down to a reasonable level then more power to it, great idea. But from what I've been told (I've been a little out of touch news wise the past day or so) this is another case of "look, a problem, let's throw money at it." In either case it'll probably happen, and it'll probably help and I'll probably support it because it probably will help the economy, but I won't like it until I hear someone in Washington give a valid reason for it happening. Side: It's not right!
|
The government is and always shall be ruled by Big Government retards. the competition between Republicans and Democrats is Big Government vs. Bigger Government. what happened to the Lincoln Republicans? The ones who favored Free Market and freedom? Now it's all down the shitter. I mean, yes, i admire the Progressive Party that Teddy formed, but it's gone way too fuckin' far now. the sad part is that it's too late to go back. And of course Bush is gonna agree with Congress on the bail out, he doesn't have a choice anymore. You have to consider the election, everyone was already pissed at Bush for the Recession that he didn't have any power over (it was the Democrats who ruled the House and Senate during the Recession... funny), and the guy has always been a moderate. yes, some big businesses do need a bail out because a strong market is a strong economy, but 700 billion? fuck dude. he rushed into it. but if he asked for revisions, everyone would have just said "BUSH IS A FASCIST WHO WANTS TO RUN THE ECONOMY INTO THE GROUND!!" So Obama is gonna do it to, cause they think nothing of money. Both are Ivy League rich boys who have "bigger" problems. Fuckin' elitist pricks. Side: It's not right!
This country is already in debt as it is and we simply cannot afford this huge amount of money. It simply isn't fair that my generation is going to have to pay higher taxes to repay this money that we never even saw the benefit of. People who have forclosed homes right now have only themselves to blame for not being better prepared. Don't let Obama take it out on future generations for the current generation's mistakes! Side: It's not right!
YOU ALL do NOT GET OBAMA.... what you dont understand that the whole RE market is broken... Maybe some remember in May 2007 2 French hedge funds closed and they stated that " we are not out of business, we just closing for money in and out because we do not know how much papers which we have worse, because there are no buyers on the market". And yes those papers are US Mortgages... I personally would love to see Americans loooose houses left and right so I could buy it for cash and pay less property tax....... Side: Let him do it.
0
points
Altarion...I'd really like to see you back this one up with some hard information that I don't see here. Who, exactly, is getting the $30 billion? The incoming President and the Senate will probably make it possible for thousands of people to get their homes back at reasonable and affordable interest rates, so they will be paying the money they owe on their homes. Can you not see the benefit of watching your fellow citizens get back on their feet, and this time, fairly? Where are you getting your raise in taxes information from on this decision that is absolutely right? Side: Let him do it.
There's nothing wrong with helping people get back on their feet, what I'm concerned about is the exact same thing as Altarion and every American for that matter should be asking "how is this money going to be paid back?" I'm not opposed to spending in a broken economy, the only way to prevent or cure a recession is to invest in infrastructure and spend in general. At the same time we need to consider where the money is coming from and how we'll pay off the debt that we've already had sitting on our laps for decades, but now even more debt from our bailouts. It is entirely logical that if those boneheads in Washington ever get their heads out of their butts that there will be higher taxes. That's the only way that we'll ever pay off the debt. The only question is who will get taxed and how. Side: It's not right!
It may not even be the next generation that will be paying for all of this; financially speaking, we're fast approaching the breaking point and the Country will face economic troubles that will dwarf what we've already experienced. You're right; America does NOT have the money, and there's only 3 methods to raise money. 1) Taxation, which is the most 'honest' method of raising funds, but its politically unpopular so those who raise the taxes jeopardize their re-election, so it's actually only rarely used anyone compared to the other methods. 2) Borrowing, which in a sense is a "tax on the future", as the money will have to be paid back through tax revenues. However we've nearly maxed out our "credit card" as a nation, as China, Japan and all our other creditors that have generously lent us billions over the past few decades are soon going to realize we'll likely never end up paying them back. Plus we've got a huge trade deficit to worry about with many of the same nations, as we give them our paper currency and they ship us their goods and we have much less things of tangible value to ship back to them. But once they decide we're not worth lending to anymore, our money raising technique #3 will result in their holdings in dollars to become worth decreasingly less and they'll use them to buy up plenty of our much-needed goods here. 3) Currency inflation, whereas the Federal Reserve simply prints up the money and gives it to the Government to spend wherever it wants to, which results in every dollar in existence to lose purchasing power, thus resulting in price increases for commodities. It carries the same net effect as taxation, since it takes wealth from everyone else and transfers it to whomever is receiving the freshly printed currency. But this method hurts the poor the most, since they're the ones that spend a larger portion of their income on things like gasoline and groceries, but it does affect everybody. Now since America's been running budget deficits for so many years, the amount the Government has spent has long outweighed the amount brought in from taxes, borrowing and inflating have been the big tools funding the War on Terror, the Bailouts, ect. But NONE OF IT is truly justified to begin with, so that we used those methods so far without collapsing our entire financial system does not in any way justify using it to bail out anybody, no matter how much "in need" that they are. It's sad that lots of people are losing their homes right now, but the fact is our ability to spend money we don't have is running out, and how much better off will they be if the dollar collapses because of the our reckless spending and we end up either owned by China or living like the days of the Wiemar Republic? ALL of our crazy spending, and ALL of our Bailout programs need to cease immediately, or that's the future we'll have, and I can't see how we can keep it up for even 3 more years. Side: It's not right!
|
