Obama’s idea on housing should sound familiar

From ABC News:

A Democrat familiar with the proposal says it will include:

The price tag is $50 billion — from the TARP funds — plus more on top of that from other programs.

Government subsidies for lenders to modify loans to homeowners who are struggling to make payments. The government would subsidize the difference.

A program through Fannie Mae and Freddie Mac for homeowners to refinance their mortgages if they owe more than their homes are worth.

An effort to make loans more affordable through various means — extending loans, lowering interest rates, and other ways.

Remember when we heard this?

I still love the idea that I’m now preparing to pay for the greed of someone who took out a loan they couldn’t pay.

Happy me.


  1. Does “modify” mean mortgage principle reductions? If it doesn’t then they are wasting their time…again.

  2. I see the number is $75 billion now. I think they forgot a zero at the end of that number.

  3. Just as kooky now as when McCain (and then the Kentucky Dipwad) proposed it.

  4. Randy in Richmond says:

    Then Sen. Obama opposed the surge when President Bush put the policy in motion in Iraq. Even after it proved to be so sucessful as to turn the war around, Obama did not recognize it’s successes. Why, because it would not be politically prudent and he didn’t want to be labled a flip-flopper as he remembered the effect that had on John Kerry. Then Senator Obama put politics ahead of country for the sake of his campaign. Well, it worked.
    Now he’s President and here is his first major military move.


    17,000 additional troops being sent to Afghanistan by President Obama. One could accurately call this Bush-Basher a flip-flopper at the highest level.

  5. I thought this yesterday, too. I actually heard a liberal talking head talk about the Iraq war being “won.” Wow.

    Obama the war monger. Who’d’ve thunk it.

  6. Perhaps he’s thinking that if war pulled us out of the great depressions due to the extra demand for goods it created…. maybe war would be a good strategy to try again?

    It seems everyone has a relative, friend, or friend-of-a-friend in the war these days. I saw a news clip about greater numbers enlisting when they cannot find a job in the current economy. I believe they said the armed forces are accepting about 1/3 of current applicants.

    I have heard some express concern for the build-up in military while simultaneously reducing a citizen’s right to bear arms. Some have wondered whether he may be preparing to use the military stateside to enforce agendas with unarmed US citizens.

    I do not find online sources for all of that, but the NRA has some info. This is what was easily found today: