The American homeowner needs tough love - not handouts
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Why should any other person be forced to help you pay for your house? It's a simple question that no one seems to be asking - or thinking about - during all the hyper-ventilating about the bailout of Wall Street.
Why should the government create entities such as Fannie Mae, Freddie Mac and who knows what else to lessen your load? Why should the IRS allow you to write off your taxes and interest on April 15?
No one else incurred your debt - yes, your debt - so why should other taxpayers be forced to subsidize it?
If you cannot otherwise afford a home unless you can snag an adjustable rate mortgage, save your money so you can afford a bigger down payment, assuming you needed any down payment to get in the home you are in, and possibly, in over your head.
Why should the Fed continue to print money that cannot be backed by gold or other tangible worth so more near-worthless dollars can be used by people to purchase homes they have no business owning?
Why should those of us who pay our bills, don't go into debt and drive old cars (my Ford has 203,000 miles on it) now have to pay for the excesses of people who should be attending Debtor's Anonymous meetings?
We should welcome what Wall Street likes to call a correction, so we can finally see what our homes and money really are worth.
If we don't, the next bailout will be more costly than the one being discussed now.
Living within your means means being responsible.
At least one presidential candidate believes in tough love.
New York Times and Politico agree. . . Bob Barr wins! September 30th, 2008 by Russ Verney
Yesterday’s vote in Congress confirms to me that only Bob Barr is in touch with the American people, and both the Democrats and Republicans are following Bob’s lead!
The New York Times reports:
But a majority of the House voted along with Bob Barr, the Libertarian who said, “We need to make Wall Street take the hit for its irresponsible investment decisions. . .”
And the highly read Politico.com slams both McCain and Obama saying:
There was, however, one presidential “contender” who got on the right side of this issue: former Georgia Congressman Bob Barr. Barr called today’s bill “the bailout from hell ” and warned it would make HenryPaulson “an economic dictator, empowered to re-engineer the economy as he sees fit.”
http://campaign.blog.bobbarr2008.com/2008/09/30/56/
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