Another Failed Obama Policy– Obama’s Foreclosure Plan
Unless you are Joe Biden or the president himself, or a card carrying Kool-aide drinking Obamabot, you know that Obama’s trillion dollar stimulus bill is a failure. The debate is over and it is settled science, to quote Al Gore on another subject. The stimulus bill was a trillion dollar fraud.
But another President Obama initiative, while slightly less costly at “only” $50 billion, has also failed. That is what happens when you have a regime that is “guessing” on the economy. Joe Biden’s term, not mine.
President Obama’s plan to curb foreclosures has also failed miserably. Home foreclosures are rising and are expected to keep rising despite the president’s plan to slow the rate of foreclosures and eventually stop them altogether.
The president is doing what he does best– blaming everyone else for the problem that he has failed to alleviate, in this case the president is blaming the mortgage companies for failing to implement his policies. But there are some prominent members within his party that realize the truth about the president’s failed policies.
Chris Dodd called the administration’s efforts to stall foreclosure rates “disgraceful.”
Another Democrat,Sen. Jeff Merkley, had the following to say about Obama’s failed policy:
It’s just hard to explain to the working families in America how it is we could move so fast with extraordinarily complicated deals with the huge financial institutions, and we are moving so incredibly slowly, mired in paperwork, in rules, in talking to banks back home
He hit on the crux of the issue with the first part of his statement when he said, “how it is we could move so fast with extraordinarily complicated deals.” The fact is that in order to implement his radical agenda the president pushed these bills through the process much too quickly. Nobody was allowed to read the bills, nobody knew what was in them, and nobody had the time to analyze them to decide whether the bills were good legislation. We are now learning that these bills were not good legislation and the mortgage foreclosure bill has cost the taxpayers another $50 billion.
How have some Democrats reacted to the failed stimulus bill, Joe Biden included? By claiming that we need to enact a second stimulus bill to try to save the first stimulus bill. Does that mean that we now have to consider a second mortgage foreclosure bill to try to “bailout” the first one?
There is an old saying about throwing good money after bad, it seems as if that is the policy of this administration.
America's Watchtower 
As for the stimulus bill being a fraud, I think this phrase would be appropriate: “Never attribute to malice that which can be adequately explained by stupidity” It just shows that democrats can’t even use a blank check properly.
As for the foreclosure program, the banks were able to water that down so much that it was destined for failure. Who do you think really runs Washington?
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Fraud was probably the wrong word, I will go with stupidity.
“Who do you think really runs Washington?”
With all of the special interest groups there is nobody out there representing us any more. It is so frustrating to watch what is happening and not being able to do anything about it.
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The stimulus has been and will continue to be a failure. For the government to step in and help those who cannot afford the house they live would be another mistake. I they can’t afford them today chances are they won’t be able to afford them tomorrow. Nothing the government can do will change that, short of increasing their pay. Maybe thats next.
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DOn’t give them any ideas.
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Unless the actual plan is to destroy the economy, the Obama regime and his lock-step congress has shown an ineptitude I didn’t think was possible. At what point does stupidity become a crime?
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He does seem to just be winging it, doesn’t he? This is what the people wanted and now we have it.
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I think in this case, they are throwing fake money after bad. If anyone is a big Seinfeld fan, this making it up stuff reminds me of Mr. Kruger. “I’m not too worried about it.”
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Monopoly money. Maybe “Yen” is more like it!
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Is it really true Obama is knocking down 40% of US cities?
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Those who don’t study history are doomed to repeat it. This was tried in the 1920’s by two Presidents. First a Republican then a Democrat, yet the economy still collapsed. Right now before our very eyes, history is repeating itself.
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It’s very hard to see that Obama’s plan is going down. People believed in the ‘black president’, hoping that he can solve the problem of foreclosure. Up to now, situation just got worse. What I ask is: people will wait more? what a about that hope? Obama still Can?
questions that the answer only will come in the future
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