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That's what happens when Obama and Congress don't make jobs a priority and focus instead on pushing an agenda that promises to be way too costly to those who provide the jobs.
Uh, Obama has been pushing for the bill in question and the Republicans have been filibustering it.
Thanks to President Bush's push to open mortgages to people not financially prepared to cover the loans through their duration, we have the worst economic downturn in fifty years. The result is that banks hold more housing assets than home-owners hold, nation-wide.
Most cities revenue streams are based on property taxes. It was a strategy that worked historically, because there was a large portion of Middle Income Americans. That began eroding long before this Mortgage Bust, and became worse when it burst.
Everything in life is connected. I could draw a line from how we stopped supporting education back in the 70s, and show how it led us to much of our current problems, but you haven't the interest, and I don't have the time.
If we are going to solve this mess, we have to WAKE UP, participate in our political processes as they were designed (become INFORMED voters), and act like members of our community (caring for others in addition to ourselves).
Do you think you can do that? I know I can.
please do some research before you make yourself look like a fool
1995 President Clinton, advanced an agenda which they called, The National Homeownership Strategy: Partners in the American Dream. (Do a Web search.) In short, it encouraged mortgage lenders to loosen-up their requirements for those seeking mortgages, thus making home ownership available to those who otherwise wouldn't qualify - in other words, for those who couldn't afford it.
The government, as a result, relaxed requirements for the federal guarantee on those mortgages: lowered income to payment ratio, relaxed income verification, reduced (or eliminated) down payments, etc. Mortgage lenders, as ones who issued those government backed loans, were encouraged - or possibly directed - to follow suit. (I say directed to follow suit because those lenders had to follow government rules if they wanted to continue to be able to issue FHA loans.)
2000: The National Homeownership Strategy: Partners in the American Dream, is a "..... public-private partnership working to dramatically increase homeownership opportunity in America. Under the directive of President Clinton, the Partnership was formed in 1995 by nearly 60 national organizations that care about homeownership. Today, the Partnership consists of 66 members representing lenders, real estate professionals, home builders, nonprofit housing providers, and federal, state and local governments.
HUD Secretary Andrew Cuomo said: "The good news as we mark National Homeownership Week is that homeownership in America is at record levels. But the bad news we face is that many of HUD's homeownership and other programs are under attack by some members of Congress. The success of our homeownership initiatives proves that HUD in combination with local organizations can further our goal of even more homeownership and fulfill our commitment to liberty and equity for all."
Where did you get your information? Bush forced banks to give loans to people who couldn't afford them? Really?
That is what I was thinking. It was congress that voted in Fannie and freddie and then democrats who refused to audit it. Barney Frank even sadi in refusing to go for it;we can always bail then out if need be. Well taht is what happened.Its the same as the breu8x committeee on medicare i whcih Democrats refused to impliment any proposals to help solve medicare fundig problwem. Hiallry there was nothing that needed done as it was secure until 2040.
The cities will simply spend the money and then be back for more. Some day, cities will not be able to borrow money and the government will not be able to borrow because they will not have the tax revenue to pay it back.
I'm not convinced that cities and municipalities have cut to the bone like they could. All too often I read in the newspaper of some obscure non-profit that the city provides grants to of which only a handful of people actually use the services. When non-essential non-profits are cut off, then and only then will I believe that cities have performed fiscal due diligence.
I say no more handouts unless it can be proven that there are no more pet project/non-profit bullschit on the legers. And this is only ONE area in which I would demand to see proof.
Where did you get your information? Bush forced banks to give loans to people who couldn't afford them? Really?
Right! It was Barak Obama who was one of the lawyers for the "Community Organizer" movement that took this issue to court to "force" the government "Fannie May and Freddie Mac" to make these bad loans, GWBush sent at least 3 requests down to Congress to "fix it" or bad stuff would happen, Barney Frank, Chuck Schumer, Chris Dodd, Maxine Waters (and many more Dems) blocked any reform since the Republicans didn't have enough of a majority in the Senate to get anything done that the Dems wanted to block...and the story goes on.
Put the blame where it belongs. Clinton (as clearly said above) and Barak Obama and his fellow "stupid" lawyers forcing an agenda that was a disaster and then Dems in Congress that blocked taking any action!
Right! It was Barak Obama who was one of the lawyers for the "Community Organizer" movement that took this issue to court to "force" the government "Fannie May and Freddie Mac" to make these bad loans, GWBush sent at least 3 requests down to Congress to "fix it" or bad stuff would happen, Barney Frank, Chuck Schumer, Chris Dodd, Maxine Waters (and many more Dems) blocked any reform since the Republicans didn't have enough of a majority in the Senate to get anything done that the Dems wanted to block...and the story goes on.
Put the blame where it belongs. Clinton (as clearly said above) and Barak Obama and his fellow "stupid" lawyers forcing an agenda that was a disaster and then Dems in Congress that blocked taking any action!
Uh, Obama has been pushing for the bill in question and the Republicans have been filibustering it.
...because Obama and the Dems won't cut spending to pay for it. PLUS, federal revenue keeps declining because Obama and the Dems continue to chase jobs away.
The cities will simply spend the money and then be back for more. Some day, cities will not be able to borrow money and the government will not be able to borrow because they will not have the tax revenue to pay it back.
We're pretty much already there...
With their job-killing agendas and policies, Obama and the Dems have backed cities, states, and the fed gov into a corner. They're just really slow on realizing that. The 'Oh sh_t' moment is coming...
Location: Moose Jaw, in between the Moose's butt and nose.
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This is the same congress (even though they are democratic, which I prefer over Repukes) that took only 1 hour to approve 33 billion for the wars last week.....
however, can't get this thru? Now really......
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