« Anyone home at the White House? | Main | 'Nation of cowards' my ass (Updated) »
February 20, 2009
Subsidizing bad behavior with wealth redistribution
Topics: Political News and commentariesIsn't this what those that did not vote for Obama already know?
President Obama's massive mortgage-bailout plan is nothing more than a thinly disguised entitlement program that redistributes income from the responsible 92 percent of home-owning mortgage holders who pay their bills on time to the irresponsible defaulters who bought more than they could ever afford. This is Obama's spread-the-wealth program in action.We're talkin' $275 billion in new debt to give losers money that they didn't earn and don't deserve!Team Obama is rewarding bad behavior. It is enlarging moral hazard. It is expanding its welfarist approach to economic policy. And with a huge expansion of government-owned zombie lenders Fannie Mae and Freddie Mac, Team Obama is taking a giant step toward nationalizing the mortgage market.
Posted by Hyscience at February 20, 2009 7:23 AM
Articles Related to Political News and commentaries:
- Subsidizing bad behavior with wealth redistribution - Feb 20, 2009
