Imagine, if you will, if our government were to use this money to payoff 90% of the mortgages in our nation. Ahh, feels good doesn't it? You can use that money for what ever you wanted - and it wouldn't be going into the deep pockets of CEO's who pay for $68,000 trash cans in their office. Ridiculous!
Please read the following post from our friends up North in Alaska...
The news de jour today is that the US Senate is voting on yet another proposed economic stimulus package. Well, pardon me if I don't break out my pom-pom's and kazoo and shout hallelujah. I actually feel more like sitting on the curb, putting my head in my hands and saying a prayer the Capitol will suddenly fall into a giant sinkhole never to be seen again.
When do we say enough is enough?
"The stimulus package the U.S. Congress is completing would raise the government’s commitment to solving the financial crisis to $9.7 trillion, enough to pay off more than 90 percent of the nation’s home mortgages..." from Bloomberg this morning.
$9.7 trillion! Enough to pay off more than 90% of the nations home mortgages?! Give me a break! We've already thrown countless trillions down the drain and yet we're no better off than we were before the first nickle was spent... some would say we're in worse shape.
We're borrowing against my grandchildrens generation... and at this rate their grandchildrens generation, to pay for a bill that will do NOTHING to stem the financial crisis.
It all began with housing and any recovery efforts need to be laser focused on housing. We can not and will not fix the financial crisis until the HOUSING crisis is addressed...
In the meantime our fearless leaders are focused on growing the size of the federal government and spending money like drunken sailors on shore leave. Forget giving the money and incentives to small businesses... you know, those folks who are the actual economic engine of this country.
"I'm from the government and I'm here to help" Yea, that's should work.