Just when you thought the Obama administration might be running into bailout fatigue, think again.
The latest plan is to spend $35 billion to support lending to lower income people to buy homes.
The government has spent so much money on a myriad of bailouts, "stimulus" efforts, and increases on regular-way government spending, another $35 billion doesn't produce outrage.
But it should, as we perpetuate the policies that brought on the financial crisis: Federal Reserve created super-low interest rates and government subsidies for home buying. And all paid by people who work hard and pay taxes.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment