Market to $810 billion bailout plan: Yawn

Hard working Americans have been punished enough by this administration. We are faced with a higher cost of living, high energy prices, higher taxes, our jobs have been exported, and our country is almost bankrupt. Remember, before Bush took office, we had a $560 billion surplus, he was the president that was going to boost our economy, look at us now, we are facing a trillion dollar deficit.

This bill turned into a big handout, and even touched the music and movie industry. These leaches had to attaches tax breaks, incentives and everything to it in order to get the bill passed. The “if you want my vote, what’s in it for me” vote disgusts me.

The rich will be fine; we, as Americans have been bailed them out. They have millions in profits that they took from these Wall Street institutions. These millions should have been used to use to offset the losses, they weren’t profits at all.

What about the working class, you have left us holding the bag. You exported our jobs, you gouged us in energy, and you shifted the income tax to the states that in turn increased our property taxes, every day you take a little more from us until you force us into bankruptcy. This is our future; this is this administrations legacy http://www.BuyMyHouseBeforeTheBankTakesIt.com!

Our economy is just as important as our national security. These politicians should be ashamed of themselves. We need changes and we need a leader to step up to the plate and redefine the way America does business. We need to address outsourcing and imports, we need to ask America to join together and support our communities and make this a better place for all.

"We need changes and we need a leader to step up to the plate and redefine the way America does business. ..."


McBush?

There was a bill that had no pork.

It was defeated.

It's the way things get done, and to be frank, I'm sort of sick of people bellyaching about it.

I live in a state that does not have a state income tax. We get deduct property tax and sales tax from our federal income tax.

Either one or both of those deduction has expired and was not going to be available on April 15th. To buy off the votes of the Texas nays, they added that to the bill.

To save the financial system, that seems pretty smart.

It was going to get added to something anyway.

HOW TO SAVE THE ECONOMY!!!!!!!!!!!!!!!

Does $700 Billion dollars worth of toxic assets sound absurd to you?

Look no further.

What the Federal Reserve is imposing IS NOT the only way to solve this crisis. Instead of shutting Main Street out of the equation, this proposed plan lifts the heavy weight of mortgages off of homeowner’s backs temporarily while covering all mortgages (Freddie, Fannie, Bear Stearns, Lehman, WAMU, etc.).


It’s a plan where the Government and the Homeowner work together to funnel revenue back into the economy.

1. Revise mortgage loans at 75% of the original value, with a new 30 yr, 6.5% fixed interest rate.(Current average monthly payment: $1,389)

2.The Government pays the difference of new mortgage and old for 7 years (NEW average monthly payment for YOU: $846)

3. Original debt held by Government as a second note. Then a 40 year note with payments starts after the seven years. You can pay this debt off at anytime, but can not refinance without paying down.

It’s simple.

It gives the economy 7 years to recover. It relieves the heavy mortgage debt on YOU. It cost CONSIDERABLY less on YOU and the Government than this $700 Bailout plan. Think about it. Less cents equals MORE SENSE!!!!