Homeownership Push is Rethought

Neither candidate for president has said that the government's basic goal of expanded home ownership is a mistake. George Bush said in April of 2004 "I proposed that mortgages that have FHA-backed insurance pay no down payment...What we're trying to do is make it easier for someone to own a home,. and there's practical ways the government can help."

John McCain said "In the future, Fannie or Freddie or any government organization should never insure a loan which the homeowner doesn't have enough of his or her own capital in the investment."

Obama called for amending the federal bankruptcy law to allow judges to force mortgage lenders to take a loss on their loans as part of a Chapter 13 settlement. Obama and Biden voted for a law to make it easier for lower and middle classes consumers to file for bankruptcy.

If the government had any responsibility to the potential homeowners, they should have been marketing the fact that "buyers" had to have enough money for "operating costs" and a fallback money in case of illness or job loss. Many homeowners should have never put themselves in that position in the first place.

I have no sorrow for the speculators. That was a risk of doing business.

I look at this months wreck of the stock market and the panic and turmoil surrounding some lower, middle-class and upper class people caused by the government aided and abetted FALSE ASSUMPTION that "everybody is happier owning their own homes".

Sure, myself and many others tried to tell people of the disadvantages of owning their own homes but they had already bought into the socialist dream of fiscal equality. What is that philosophy? "If you have it I should have it too; and now". Then they want the government to bail them out when they found out you need more than the ability to make the payment, the overlooked operating costs.

And the "why work hard", greed and "equality" being taught in our liberal high schools and colleges, has become so widespread that our whole society is asking "what's in it for me", "if I don't take, it someone else will" and "I want it now, and "if we can borrow the money, why wait".

What a mess this society has become. Never have so few turned this country into this mess that is being magnified today at the detriment of so many others.

Obama and his ilk have a philosophy of take from the rich and give to the poor. If you think the economy of this country is in bad shape now wait till four years of Obama and Biden.

Please don't overlook the fact that both houses of Congress are controlled by the Democrats for the past 20 months. Also, don't think I have been letting the Republican politicians off the hook. Read my archives.

However, I see a glimpse of smaller bureaucracies, less wasteful spending, and less government interference under a MCCain/Palin administration.

I have lived a long time as a teacher, coach, worked 8 years for one large corporation and spent 28 years owning my own business. No bankrupt or default. When times where bad, I had a government "small business loan" which I paid back on time. Otherwise it was sink or swim. If I was to survive I had to swim.

I swam.

The first commandment of government is to do no harm. The harm being done by government these days is immeasurable.