In case you fear, as I do, the determined encroachment of the nanny-state into areas of our lives in which it doesn't belong, this should disappoint you just a little.....
WASHINGTON (AP) -- President Bush dropped his opposition Wednesday to a broad housing package aimed at bolstering the sagging economy, despite his objections to including $3.9 billion for neighborhoods hit hardest by foreclosures. The House was expected to vote on the bill Wednesday, and it could become law as early as this week.
Under the bill, the government would help struggling homeowners get new, cheaper loans and would be allowed to offer troubled mortgage giants Fannie Mae and Freddie Mac a cash infusion.
For you government school graduates, propping up private companies with taxpayer cash is not a proper constitutional function of government. Nor is bailing out citizens who've made poor financial decisions. By caving in to democrats, Bush has shown us that he's just as much of a nanny-Stater as they are. Give the people fabulous cash and prizes, paid for by the productive class, and they'll not only like you, they'll keep voting for you. That's the democrats' re-election mantra. Under Bush, it's also the GOP's mode of operation.
I'm sorry, if you are too dumb to figure out whether or not you can afford your mortgage payment, you are probably too dumb to be a home owner in the first place. There's too much daily responsibility involved in maintaining a home. Likewise, if you run a huge mortgage company, and you lend billions to people who you know cannot maintain the payment schedule, just because the current President urged you to, you deserve to go bankrupt.