Homeowner Rescue Bill To Become Law
SmartMoney.com 5 Housing Markets That Have Further to Fall By Sarah Morgan Jun 30th, 2009 Excerpts: Think twice before buying a house in these cities any time soon. Home buyers looking for a bottom in the real estate market may have been encouraged by housing data released earlier this week. Sales of existing homes rose 2.4% in May, according to the National Association of Realtors. The increase was a little less than most analysts had expected, but it represented the second straight month of improvement. Meanwhile, sales of new homes dipped 0.6% in May, continuing a trend of fairly flat months so far this year, according to data released by the Commerce Department. Don’t get too excited – it’s still too early to say the housing market bottomed out, analysts and economists say. Distressed properties still account for about a third of all sales, and 29% of sales were to first-time home buyers, who are currently benefiting from an $8,000 tax credit.More from 10 Things Your Home Insurer Won’t Tell You The Tax Implications of Foreclosures Moving on the Cheap: 6 Tips for Cutting Costs and Hassles The sales trends are telling. “You’re not really seeing a lot of move-up buying,” says Richard F. Moody, chief economist and director of research at Forward Capital, LLC. “There are so many vacant homes and so many foreclosures that [there’s] not the normal trade-up pattern that you would have traditionally seen,” Moody says. Full article Sarah Morgan SmartMoney.Com NRO NATIONAL REVIEW ONLINE Lured to Disaster What is the “problem” that politicians claim to be solving when they talk about creating “affordable housing?” By Thomas Sowell Behind the housing boom and bust was one of those alluring but undefined phrases that are so popular in politics—“affordable housing.” It is hard for me to know specifically what politicians are talking about when they use this phrase. But then politics is about evoking emotions, not examining specifics. In looking back over my own life, I find it hard to think of a time when I didn’t live in affordable housing. Full article NATIONAL REVIEW ONLINE Excerpts: Congress approved the rescue bill on Saturday. It is hoped this plan will calm jittery financial markets and bolster the sagging economy. President Bush said he would sign it promptly, despite being dissatisfied with some aspects of the bill. The measure, called highly significant housing legislation, by many, purports to let those who cannot afford their payments refinance into more affordable government-backed loans rather than losing their homes. The bill has many skeptics who believe that speculators and others who acted irresponsibly will now get a bailout from already hard-pressed taxpayers who are seeing more and more of their earnings redistributed to others. The measure also offers a temporary financial lifeline to troubled mortgage companies Fannie Mae and Freddie Mac.Those two companies have been involved in highly questionable transactions with many Clinton administration officials right in the middle of it all. You can bet your life the Mainstream Media will not touch this anywhere near the way it did the Enron scandal because the Media thought they would have something on Republicans which they didn't, but they were non-stop with the power of suggestion. It appeared as though a showdown between the White House and the Democratic-led Congress was ready to ensue. Opposing sides differed over how far the government should go in rescuing homeowners. Eventually the matter turned into a bipartisan effort. In Saturday's session, the Senate voted 72-13 to send the bill to the president; the House passed it Wednesday. Bush had changed his mind earlier in the week on his veto threat , over $3.9 billion in neighborhood grants. The president felt the money would benefit lenders who helped cause the mortgage meltdown, encouraging them to foreclose rather than work with borrowers. Tony Fratto, deputy White House press secretary, said "Because of the Democratic Congress' delays and the need for action now, President Bush will sign this bill when he receives it, despite our concerns with some provisions, including nearly $4 billion to help lenders, not the homeowners this legislation is intended to serve." Several Republicans welcomed the bill. Treasury Secretary Henry M. Paulson's request for the emergency power to rescue Fannie Mae and Freddie Mac helped push through the measure. The measure also included the creation of a regulator with stronger reins on the government-sponsored companies. Republicans have sought regulation over these two giants for a long. Democrats were most satisfied with the aid for homeowners, a permanent affordable housing fund financed by Fannie Mae and Freddie Mac, and the neighborhood grants. "This is far more than sending a bill to the president's desk for his signature. It's sending a message to the American people that the Congress of the United States — despite an alternative reputation — can actually get things done, and can work together to achieve a good result," said Sen. Christopher J. Dodd, chairman of the Senate Banking, Housing and Urban Affairs Committee. President Bush is not expected to hold a White House signing ceremony, because of his deceded unhappiness with it. Many Senate GOP leaders were likewise not pleased. In the House, over 75% of Republicans voted against the bill. The FHA can now insure $300 billion in mortgages, which would be available to homeowners who showed they could afford a new loan. Banks would first have to agree to take a large loss on the existing loans in exchange for avoiding an often-costly foreclosure.T Another feature of the bill would permanently increase to $625,000 the size of home loans that Fannie Mae and Freddie Mac can buy and the FHA can insure. Those two agencies could also buy and give backing to mortgages 15 percent higher than the median home price in certain areas. The measure allegedly tries to prevent blight. It provides $3.9 billion to blighted neighborhoods to buy and fix up foreclosed properties. NRO NATIONAL REVIEW ONLINE Lured to Disaster What is the “problem” that politicians claim to be solving when they talk about creating “affordable housing?” By Thomas Sowell Behind the housing boom and bust was one of those alluring but undefined phrases that are so popular in politics—“affordable housing.” It is hard for me to know specifically what politicians are talking about when they use this phrase. But then politics is about evoking emotions, not examining specifics. In looking back over my own life, I find it hard to think of a time when I didn’t live in affordable housing. Full article NATIONAL REVIEW ONLINE Excerpts:
NEEDED: 25-35 year old men or women elected to congress.
ENTRENCHED POWERS IN BOTH PARTIES KEEP SPENDING MORE and MORE We can and must find 25-35 year olds, who will sacrifice by setting examples with their own salary, perks, and staff costs, while rejecting pork, earmarks, and obligations to lobbyists. The Constitution has been badly abused for the last 8 decades, replaced, in many cases, with illegal government regulations and wildly excessive taxation. We must get young CONSERVATIVES to insist on following the CONSTITUTION again. We must end redistribution by keeping earned dollars with those that earned them. We must cut heavily into the share now confiscated by the federal government, from responsible "net taxpayers" and redistributed mostly to irresponsible, "net tax receivers"
color The overarching goal is to reduce federal spending to 17% of GDP, by 2021.color For decades, 18-22% of GDP (far above what it should have been) has been spent. In just days, President Obama has taken it to a whopping 28.5%. This is a true danger, and an enormous violation of the CONSTITUTION. Our own Government Accountability Office declared in 2007, that the $53 trillion dollars of future entitlement obligations, cannot be met, and must be curtailed. Those obligations are now well over $60 trillion added to whopping deficit spending which will undoubtedly clobber economic growth. Instead of reining in entitlements, this president is expanding them at a breathtaking rate. No literate person should accept this blatant and enormous deceit, that can only result in unimaginable debt and limited growth. How much does the federal government take now? The proposed fed budget is $3.6 trillion, an unthinkably huge increase of 17%, an amount never before seen in American history. Held to 17% of GDP, the budget would be $2.4 trillion. Every worker in America would earn thousands of dollars more for doing exactly what he is now doing. Many studies, the world over, have shown that when national spending is held to 14-17% of GDP, per capita income increases dramatically, as do jobs, living standards and freedom. To see: 1. The steps 2. The slogan 3. The 15 point plan to follow--as well as the means--to reach those goals--please visit: CONSERVATIVE-POLITICS-INFOFIND.COM
We must return to putting America's interests first. This is far more essential than advancing either party's interest, or of having an IVY League education or an elitist mentality.
ENTRENCHED POWERS BOTH PARTIES SPENDING MORE and MORE Getting reelected has become the priority of most members of congress today. Chairmanships, from too many years in congress, (seniority) result in, most congressmen/women voting: 1. For what will get them reelected 2. What the party leader insists they must vote for or be deprived of pork to send back to their district 3. Obtaining power & wealth, increasing power & wealth, maintaining power & wealth.
Voting records from the three best known taxpayer watch dog groups show that only about 6-10 in the Senate (my estimate) and 30-40 in the House, clearly put the needs of America above their reelection. All three watchdog groups assign a score to every pork bill /earmark voted on by every House and Senate member, then apply an exact percentage to those who vote for and against these measures. Far too many members, not only score poorly, many finish with zeroes, meaning in most years they vote for at least 50 out of 50 pork bills. Although this tilts heavily toward Democrats, a few Republicans receive zeroes also.
2. ADHERING TO THE THE CONSTITUTION 3. RETURNING TO HOME RULE AND LOCAL CONTROL
Add American common sense, a solid high school education, and a background of personal responsibility, mostly-showing up for work-every day, for several years and making mature, responsible decisions. This will tell us most of what we need to know in seeking young, promising candidates.
The Entrenched Powers CONCENTRATE Virtually 100% On Gaining Committee Chairmanships
REDUCE FEDERAL SPENDING TO 17% OF GDP BY 2021 PRESIDENT OBAMA HAS RAISED IT FROM A HEFTY 23% TO AN OUTRAGEOUS AND UNBELIEVABLE 29% IN JUST DAYS
Increasing federal spending, above GDP growth allows congress to spend your yearly increase which you worked and produced for. Your wages may rise but they've stolen your purchasing power. Because of tax cuts, under President Bush clear wages per capita rose $3800 before Democrats gave us the housing meltdown.
Speaking To Your Audience—You Will Promise:
As a congressman accept only 80% (a 20% reduction) of the salary of $175,000-(2010 projected salary).
Bloated, Expensive Staffs Staff spending averages about $1 million a year, with some individual staff members earning $160,000 a year, before adding in very expensive benefits. Total staff spending absolutely can be shaved to $600,000 a year while still paying very good salaries and more than adequate benefits. No one will exceed $100,000 a year before several years of proven worth to earn a salary that high. Staff Savings in just 1 of 535 districts $400,000.
Set the tone immediately. Those who are here for higher government spending will be wasting their time and you will not let them waste any of yours. If they are lobbying for more efficient government spending, or reduced government spending, they will get serious attention. A 1990's study showed lobbyists in Washington-fighting for higher spending-outnumbered those who are neutral or for lower spending by a whopping 7 to 1 margin.
Earmarks are illegal. Earmarks will be taboo. All Earmarks will get a no vote, pure and simple.
Reduce taxation of all states. Stop taking it, for the bureaucracy, adding federal payroll and new federal programs, especially out of control entitlements, then sending a portion of it back. This is silly.
America desperately needs one of these to end the redistribution thievery that is growing worse each year. The projections for the future, prove beyond a doubt, these entitlement programs cannot be sustained. Our long term debt is now over $60 trillion dollars--that's trillion with a T. Even before the Meltdown, our own Government Accountability Office (GAO) declared flat out, in its 2007 report, that this trend cannot be sustained.(3) It's not an if, we are already obligated to costs of $60 trillion.
DEVISE METHODS TO MAKE THE MEDIA AND CONGRESSIONAL DEMOCRATS STOP LYING ABOUT TAXES
MAINSTREAM MEDIA/DEMOCRATS
The Most Important Number For Taxpayers Real after-tax per capita personal income through October, 2007 rose by 12.7 percent – an average of over $3,800 per person, practically all after the Bush tax cuts, and before the housing meltdown. This was obviously a combination of lower tax rates and phenomenal growth in the economy.
Until Barney Frank, Chris Dodd, Franklin Raines and The Democrat Party caused the Housing Meltdown, through Fannie Mae and Freddie Mac, American workers were making great gains.
8. ENERGY and The Environmental Extremists
NO SPECIAL INTEREST IN AMERICA, President Obama's deceptive words are a cruel hoax. Carol Browner , until recently, a socialist international group leader, is probably the real leader of the president's environmental goals, basically wants to transfer as much of your labor to government as possible. 8. FOSSIL FUELS-TENS OF TRILLIONS OF DOLLARS ARE INVESTED IN VEHICLES, MACHINERY & EQUIPMENT The world economy cannot come close to maintaining present living standards without fossil fuels for the next 25 years, to say nothing of improving the lives of the 3 or 4 billion who now live on less than $2 a day. The extremists in this movement have enormous power over the Democrat Party This movement have planted a seed, that profits, damage the environment, suggesting an uncaring attitude from those who want a reasonable energy policy. We must elect 25-35 year olds who will vote to make us truly energy independent by voting for: Drilling now Nuclear energy Clean Coal Not only can we stop sending $600 billion a year to our enemies, we can add millions badly needed high paying jobs to our economy while increasing revenues to the government from a much broader labor force.
9. Farm Subsidies Eliminate practically all farm subsidies. Most subsidies go to very rich farmers. They cost $24 billion dollars a year.
10. Free Trade Free Trade has huge benefits to the public in lower consumer costs and to 150 million private sector employees, who create 100% of the nation’s wealth and who should not be punished for 11 million union workers.
11. School Choice The Public School Monopoly Is Not Just Stifling Educational Advancement, it is fighting it fiercely for its own gains, and succeeding. 12. English Only--PERIOD The National Language. No political correctness. Americans want English for the national language. Official business, government documents, election ballots, telephone messages, etc. English only. 13. Border Security Not just border security first, enforcement of all existing laws, with-hold all funding from sanctuary cities, do everything that responds to one of the most decisive actions America has ever taken, when it told congress in the most lob-sided manner, that it wanted the entire illegal immigration mess, turned legal, period!!!
9th Circuit - Ninth Circuit Upholds Arizona's Employer Sanctions Law09/18/2008 The Ninth Circuit Court of Appeals on Wednesday (September, 2008) issued a ruling upholding the Legal Arizona Workers Act (“LAWA”). .
To The Required Number and Types Of Workers America Needs Most--Fast No more Political Correctness of letting in an out of proportion number of unskilled workers and high-school dropouts. What the American labor force needs, MUST BE the only consideration for the types of workers legally admitted each year.
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