From Reuters:
McCain turns to economy with housing, job proposals
By Jeff Mason
NEW YORK (Reuters) – Republican presidential candidate John McCain, criticized by his Democratic rivals for being soft on economic issues, lays out a set of proposals on Thursday to address the U.S. housing crisis and ease the burden of unemployment.
Let us get this straight at the outset…The president does absolutely NOTHING in terms of curbing unemployment. The economy does that.
McCain, an Arizona senator who has wrapped up his party’s nomination to run for the White House in the November election, will propose a system that allows struggling homeowners to “trade a burdensome mortgage for a manageable loan that reflects the market value of their home,” according to excerpts of the speech seen by Reuters.
“trade a burdensome mortgage for a manageable loan that reflects the market value of their home.” What?!?!?! In other words, we’ll force the banks to forgive your current loan and interest rate, re-value your home at current prices, make you a new loan at current (much lower) interest rates, and forgive (read – let the tax paying citizens pay for it) the difference.
“People decide if they need help, they apply for assistance and, if approved, the government under my HOME Program supports them in getting a new mortgage that they can afford,” he says.
“Supports them…supports them”…yeah I keep reading that out loud, but all I hear is “wealth redistribution, wealth redistribution.
The houses involved will have to be people’s primary residence and eligibility will require that they be able to afford new mortgages, he says.
Shit, those were the criteria to get the mortgages that they have now that they can’t afford. Who defines “able to afford?”
The program would result in homeowners having a 30-year mortgage and an equity stake in their home, while the new lender would receive a federal guarantee of the mortgage.
Where do we line up? You know – the people who actually have made the right decisions in life, put off immediate gratification to buy a house we could actually afford, read the fucking contracts before we signed them (and sorry if you’re too stupid to read a standard mortgage note, then you’re too stupid to own a house – or procreate).
His comments come a day after President George W. Bush proposed expanding a program to help homeowners meet mortgage payments while Democratic lawmakers pressed ahead with a broader plan, setting the stage for a political showdown over how best to aid the housing market.
Now the government is going to actually make their payments for them – with my tax dollars. Holy shit, that is the very definition of socialism – from each according to his abilities (cuz you tax payers don’t really need all that money you make) to each according to his needs (cuz Bubba needs a new house to hang his 42” plasma TeeVee and a new driveway in which to park his boat)
Democratic candidates Barack Obama, a senator from Illinois, and Hillary Clinton, a senator from New York, also have laid out housing plans and accused McCain of ignoring the problem.
Translation: The three assholes running for POTUS are trying to out-do each other with how much money they can give away and how many votes they can buy…
Bush approved a plan that would insure mortgage loans for homeowners who may have missed payments, were facing the prospect of higher interest rates, and whose homes had decreased in value.
That’s why they call it an ADJUSTABLE rate motgage dumbasses – the rates ADJUST to current market conditions. You rolls the dice, you takes your chances. Again, why are we rewarding poor choices while punishing those who meet their obligations?
McCain, a Vietnam War veteran – Wow I never knew that! Really? I wonder if he might have been a POW too? - who has focused his candidacy largely on his support for the war in Iraq, calls for a task force to look into “potential criminal wrongdoing” in the mortgage lending and securitization industry.
Hey asshole, here’s an idea…why don’t you staff that task force with the same jerkoffs from Government who threw the racism card on the table starting about 15-20 years ago? You know, the ones who screamed about mortgage lenders “redlining” minorities and about creating “affordable housing?” The same people who threatened legal action (kind of like you are implying now dickhead) if these same lenders didn’t start getting creative and finding ways of lending money to people to buy houses they HAD NO FUCKING WAY OF AFFORDING?
He was scheduled to deliver the speech later on Thursday.
To address rising energy prices, McCain says the United States should stop filling the Strategic Petroleum Reserve to weaken demand for oil and urges Americans to cut back on their energy use.
How about urging OWLGORE to quit pushing his personal agenda on Glow Bull Wormening so we can begin to become energy independent? How about pushing for building new refineries considering we haven’t built a new one in over 20 years because of pandering to tree-huggers and Gaia Worshipers? How about advocating drilling for oil in the Gulf of Mexico (where China! is currently drilling – WTF???) and drilling in ANWAR, and more drilling off the coast of California?
He also pushes for a program that would use taxes to help people who are unemployed. (emphasis mine)
We tried that once Dumbass – it was called WELFARE. It didn’t work then and it won’t work now. Econ 101 – people will consume unlimited quantities of a free resource – namely my tax dollars. Sheesh and this guy wants to lead the free world?
“I propose that we build a new system so that as women and men work, their taxes help to build up a buffer account against lost earnings,” he says. “Then, if they are unfortunate enough to lose a job, they will be able to better meet their obligations.”
That would be called a SAVINGS ACCOUNT. In which we could all more quickly and successfully “build up a buffer” if you assholes in Washington would quit taxing us so Goddamn much. And by the way – I am the ant in this story – I really don’t give a shit if the stupid, non-hacking grasshopper spent all summer wasting money on pimping his ride and buying cigarettes instead of saving it. If he can’t meet his bills and gets thrown out on his ass, Harley Davidson and all, it ain’t my fault nor problem, nor is it the problem of any other tax payer, so leave us out of it!
McCain says in the speech he will lay out a plan for long-term economic growth next week.
[Shaking my head] Once again, The president has NO direct effect on the economy. Tell me one thing that you will do as president that will have a direct effect on the economy…Create Jobs? Uh, no. Lower inflation? Nope. Create demand for American goods and services overseas? Huh uh. Make the dollar stronger relative to every other currency that is kcicking our ass right now? Didn’t think so. So STFU on the economy – only the dimwit unionists believe you can bring their $90,000 a year jobs back from Mexico and China, and they’re all already voting for Obama…
“Let me make it clear that in these challenging times, I am committed to using all the resources of this government and great nation to create opportunity and make sure that every deserving American has a good job and can achieve their American dream.”
No, no. You didn’t read it closely enough. It says “Life, Liberty and the Pursuit of Happiness.” It does not say “Job,” “American Dream,” “Two Car Garage,” or “Free Cheese.” It’s equality of opportunity, not equality of outcome you frickin’ communist. And nowhere in the Constitution does it say that you get to “us(e) all the resources of this government” to guarantee someone (a) income they didn’t earn or (2) assets they didn’t pay for. You get to use what limited resources we decide to give you to build bridges and tanks. That’s it, and that’s all.
Political pressure is building for more dramatic government intervention to prop up a housing market that has pushed the U.S. economy to the brink of recession, if not into one, threatening global growth.
Political pressure…Not pressure from your constituents – who elected you to represent them. Not pressure from the greater public at large. Not pressure from mail-in campaigns, e-mail campaigns, petitions, polls or even a Ouija Frickin’ Board – but Political Pressure. In other words, it doesn’t matter what the peon tax payers want or think or suggest. It’s all about political power and maneuvering. H. L. Mencken was right – “Democracy is the theory that the common people know what they want and deserve to get it good and hard.”— Even though this isn’t a Democracy, every day it seems less and less like a Constitutional Republic.
