Bush Is an Idiot

[erpowers]

I know many people have thought Bush was a idiot for many year and for many reasons. However, I contend the way he is handling this mortgage/housing collapse is just stupid and dangerous. I realize that the economy will most likely survive this issue and make a come back later, but more should be done now to make the problem more bearable.

A few days ago Bush rejected the idea of helping home owners overcome this mortgage slump by giving people money to help pay for their mortgages. Bush's rejection of that idea was stupid. I realize some people look at the situation and say it was the people responsibility to know whether they had a loan they could pay for. Now that they cannot pay for those loans it is their fault and their loss. However, I reject that by looking at the fact that Countrywide, one of the biggest loan companies in America, may declare bankruptcy due to all the loans that cannot be repaid. The problem with Countrywide and other companies like it is that these companies have an effect on other industries like the pension industry. So for me the issue is the chain reaction that could come about as a result of Countrywide and other companies declaring bankruptcy.

I contend it would be much better to provide help to people who are losing their homes. By giving these people help in keeping their homes companies like Countrywide might not fall into bankruptcy and pensions and other industries most likely not be effected. Therefore, the impact on the economy will be less and less people will be hurt.

There is another reason I hate the fact that Bush will not provide any help to people losing their homes. Bush is willing to throw away money on all types of silly projects, but refuses to help people keep their homes even when it is possible that helping these people will help our economy.

[acmavm]

1. It was stupid of anyone to ever expect this administration to do

anything to help the people of this country in the first place. If you're not a part of the upper 5% of the population they don't feel that you're good enough to even lick the mud off their shoes.

[BOSSHOG]

2. Faith Based Mortgages - More conservative values injuring our country

[jmp]

3. This must be the "ownership society" he kept talking about.

...

* Expanding Homeownership. The President believes that homeownership is the cornerstone of America's vibrant communities and benefits individual families by building stability and long-term financial security. In June 2002, President Bush issued America's Homeownership Challenge to the real estate and mortgage finance industries to encourage them to join the effort to close the gap that exists between the homeownership rates of minorities and non-minorities. The President also announced the goal of increasing the number of minority homeowners by at least 5.5 million families before the end of the decade. Under his leadership, the overall U.S. homeownership rate in the second quarter of 2004 was at an all time high of 69.2 percent. Minority homeownership set a new record of 51 percent in the second quarter, up 0.2 percentage point from the first quarter and up 2.1 percentage points from a year ago. President Bush's initiative to dismantle the barriers to homeownership includes:

* American Dream Downpayment Initiative, which provides down payment assistance to approximately 40,000 low-income families;

* Affordable Housing. The President has proposed the Single-Family Affordable Housing Tax Credit, which would increase the supply of affordable homes;

* Helping Families Help Themselves. The President has proposed increasing support for the Self-Help Homeownership Opportunities Program; and

* Simplifying Homebuying and Increasing Education. The President and HUD want to empower homebuyers by simplifying the home buying process so consumers can better understand and benefit from cost savings. The President also wants to expand financial education efforts so that families can understand what they need to do to become homeowners.


http://www.whitehouse.gov/news/releases/2004/08/20040809-9.html

[screembloodymurder]

4. This from a guy who always got bailed out by daddy

or one of his rich friends. Don't expect to hear from him, he's gone fishin.

[OneBlueSky]

5. that's a headline guaranteed to not generate a whole lot of controversy . . . n/t

.

[screembloodymurder]

6. Even Kudlow, a supply side nut case,

referenced fiddling while Rome burns.

[ashling]

7. Note my sig line

that is all

[truth2power]

8. No, it's not about being an idiot... at least in this case..

Aside from the fact that helping homeowners out makes good economic sense, understanding the plight of the homeowners requires a certain amount of empathy.

Empathy is an emotion that's not available to Bush, you know, like not wired into his brain. It's because of his illness. Seriously.