"Meet the Press" host David Gregory did an honest job this morning in blowing holes in the Obama banking and home foreclosure plans -- providing more credence behind the growing public outrage over the administration's incompetency.
For example, as with the Obama plan to modify mortgages in foreclosure, Gregory cited statistics showing than an incredible 50 to 60 percent of all mortgage modifications still end up in foreclosure. So taxpayers are being asked to waste money on a process that mostly fails.
Florida's governor, an early supporter of the Obama housing plan, voiced concerns about it this morning on the program.
Then there is the Obama response that saving at least some of these homes preserves neighborhood property values. That offers little in today's world. Actually, declining values serve the taxpayer better. Lower property assessments will bring lower taxes. And property taxes will be going up around the country.
Gregory countered the White House's lambasting of CNBC's Rick Santelli that he needed to read the Obama plan before criticizing it. Santelli called the plan a way of rewarding bad behavior at the expense of the 92 percent of Americans paying their taxes and bills on time.
Greogry said he has read the plan, and he understands why so many Americans have found favor with Santelli's comments.
As with banking, Democrats continue to point toward nationalizing banks at least for the short term. That would eliminate the value in all common stock owned by investors in the banks.
And it is investors who are expected to invest and spend to turn the economy around, Gregory said.
Is President Obama listening? I don't think so. He is losing control of this country.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment