So, in your stimulus package you plan on using 800 billion dollars to help the economy. What exactly is going to be done with this money? Were you prepared for the burst of the housing bubble? I currently read in an article that, Lowering the Interest rate and extending the payments on the house would help? Since you are proposing to get billons are you willing to put some of that money towards helping families in need? I read in a current article, “As many as 13 per cent of U.S. homeowners with mortgages could lose their homes to foreclosure.”
In a article I read they talk about how the housing market."Buyers borrowed too much money and cannot pay the interest. Now there are mass foreclosures, and Congress is taking $700B of your money to pay the mortgage investment losses for bank. The plan is to overpay the banks for bad mortgages, claiming that this will support the housing market. It will not work, since bank profits have nothing to do with housing prices" There are so many articles that all seem to have their own thought about where the money is going towards, like in the quote pulled above from an article they say that 700 Billion dollars is going towards paying mortgage investments. Is that 700 billion dollars from you stimulus package?
In a article I read they talk about how the housing market."Buyers borrowed too much money and cannot pay the interest. Now there are mass foreclosures, and Congress is taking $700B of your money to pay the mortgage investment losses for bank. The plan is to overpay the banks for bad mortgages, claiming that this will support the housing market. It will not work, since bank profits have nothing to do with housing prices" There are so many articles that all seem to have their own thought about where the money is going towards, like in the quote pulled above from an article they say that 700 Billion dollars is going towards paying mortgage investments. Is that 700 billion dollars from you stimulus package?
What happens if your plan fails, do you have a backup plan? Is their going to be any negative effects of this 800 billion dollar stimulus package? You once said,
"Because if we don't move swiftly to put this plan in motion, our economic crisis could become a national catastrophe," Based on that quote who are you referring to as ‘We”. Do you mean we the people, of the United States? If so how do we as individuals in America act upon this economic crisis, do we even have any control over this crisis?
"Because if we don't move swiftly to put this plan in motion, our economic crisis could become a national catastrophe," Based on that quote who are you referring to as ‘We”. Do you mean we the people, of the United States? If so how do we as individuals in America act upon this economic crisis, do we even have any control over this crisis?
“But Obama and Rep. Barney Frank, D-Mass., chairman of the House Financial Services Committee, have agreed on the rough outlines of a plan to direct some of the remaining bailout money to foreclosure prevention, said Steve Adamske, a spokesman for Frank.”Is this true, are you only planning on using some of the money towards helping the housing crisis? So, what is the main purpose of your 800 billion dollar plan?
Sources
- Mullins, Luke . "How President Obama May Attack the Housing Crisis - The Home Front (usnews.com)." US News & World Report - Breaking News, World News, Business News, and America's Best Colleges - USNews.com. 5 Nov. 2008. 9 Feb. 2009 http://www.usnews.com/blogs/the-home-front/2008/11/5/how-president-obama-may-attack-the-housing-crisis.html?s_cid=etRR-0203.
- Dickson, David M. . "Budget deficit will soar above $1 trillion." The Washington Times. 7 Jan. 2009. 8 Feb. 2009
. - Killelea, Patrick . "Housing Crash Continues, Bubble Pops." Housing Crash Continues, Bubble Pops. 9 Feb. 2009
No comments:
Post a Comment