When asked Tuesday if Democrats had any responsibility for the current economic crisis gripping the United States, House Speaker Nancy Pelosi had just one word to say: "No."
I'm sorry Nancy, but you have either lost your remaining marbles, or you are flat out lying. The latter is far more likely considering your chosen profession.
The vast majority of today's economic problems stem from the fact that under Clinton, the federal government used their power to force banks and mortgage lenders to make loans to people who couldn't qualify otherwise. Either make these bad loans to people who are not fiscally responsible enough to repay them or we will install so many new regulations, you will be sorry.
So, you now have people armed with their faulty pre-approval letters going out and buying more house than they could afford. And, let's not forget, the mortgage payment isn't the only thing to consider when calculating your monthly expenses as a home owner. You also have insurance, taxes, and up keep. When you were a renter, when the A/C crapped out or the fridge stopped working, that wasn't your responsibility. No landlord to call when you're the owner.
So, these people can't afford their mortgage payments, and certainly cannot afford the upkeep on their homes. Not only is the house falling into disrepair, but also foreclosure. With all these "fixer uppers" in a slumping housing market, they cannot even sell the house for what they owe on the loan. So they have drained their bank accounts and have no equity in their homes.
So, Ms. Pelosi, what say you now? Oh right...don't let the facts get in the way of a good argument. And, if you think that most Americans are stupid enough to actually buy this load, don't forget that this democrat led congress has a FAR lower approval rating than President Bush.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment