Is your wallet feeling a little lighter? I'm not referring to your latest trip to the gas pump. President Bush just signed the gargantuan $300 Billion mortgage bill that bails out the stupid, the ignorant and the greedy. As a bonus, your government has now also shouldered a large percentage of mortgage failure risk. Plain language: They just acted as cosigners for millions of home loans that are already in trouble. Is it any wonder our federal debt is approaching $10 Trillion?
My favorite senator, Dr. Tom Coburn, likes to remind us that spending other people's money is not generosity. Congress has a 9% approval rating while Senator Coburn's is around 60%. Hmmm...
Even the most flint hearted fiscal conservative agrees that we must help the wounded veteran, the aged, infirm and truly needy. But the goomer who bought too much house does not belong on that list.
If the president and our elected officials want to help such people, they should use their own money. After all, our congress has a much higher percentage of millionaires than the general population. Shoot, Teddy Kennedy could probably solve this "crisis" single-handedly with the cash pile he's sitting on. Get the Pelosis and the Feinsteins to kick in some San Fran cash and they could really make things happen! But no, it's so much more satisfying handing out other people's money. The power rush must be incredible.
Bottom Line: I bought a house I could afford; Boy do I feel stupid. You too? The government has a word for people like us: SUCKERS!
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