A President's Job Is Never Done

by Joe?Pulcinella

I just spotted this on the Mises Institute blog. James Bovard (always a must-read) wrote in Barron's about George Bush's initiative to close the gap between rich and poor. I can't even start to comment on it. Here are some clips:

* A White House Fact Sheet issued June 17, 2002, declared that Bush's agenda "will help tear down the barriers to homeownership that stand in the way of our nation's African-American, Hispanic and other minority families. ... The single biggest barrier to homeownership is accumulating funds for a down payment."

* Federal Housing Commissioner John Weicher said in January 2004 that "the White House doesn't think those who can afford the monthly payment but have been unable to save for a down payment should be deprived from owning a home," National Mortgage News reported.

* While zero-downpayment mortgages have long been considered profoundly unsafe (especially for borrowers with dubious credit history), Weicher confidently asserted: "We do not anticipate any costs to taxpayers."

Although Barron's is a pay site, the full text of the article is on the blog if you scroll down a little. I just have one question that Bovard leave's unanswered: Did we indeed elect Al Gore in 2000?

Didn't we blog this before? And wasn't it obvious that something this insane would never be passed? So much for sanity and the obvious.

FoxSnooze.com (http://www.foxnews.com/story/0,2933,105880,00.html) provides little reporting on it and absolutely no criticism that I could find. The brief sentences were intermingled with news of other, equally insane bills signed that day.

I find this unbelievable. This supports the theory that neo-cons have left the tradiitonal R or conservative party. My word - this is the basis of the success of free markets and capitalism, if you dont have $ for something, you work harder and GET the money, not wait for a handout! *sighs*

A President's Job Is Never Done

Comments

Post a Repsonse

Main Menu

Name:
Comment:
?