05.12.2010 0

The Latest Obama Scam: Cash for Mortgages

By Adam Bitely –

In four U.S. States the unemployed or underwater may soon be seeing cash for mortgages that they cannot afford. The bailout cash comes courtesy of the U.S. taxpayer.

In Arizona, California, Florida and Michigan, state lawmakers are considering using Obama handouts to help stop foreclosures in their respective states according to a CNNMoney.com article.

It appears that no one in government has learned from the continuing fiscal crisis. At a time when people should be truly understanding their responsibilities, the government believes that the only way to solve the problem is through redistribution of capital from producers to those that squander. What will happen when the money from this welfare program runs out? Who will then foot the bill for these mortgages?

While the program will not bail everyone out of their mortgage trouble, who will draw the line? Do lesser Americans exist who will be denied taxpayer bailouts for homes they cannot afford, while others reap the benefits of looting their neighbors? Who will make these tough decisions?

The fact that the nation is nearly two years deep into an economic crisis and the politicians have yet to learn a single lesson on fiscal responsibility should be the most troubling lesson that Americans take away from the drama that has unfolded since the Fall of 2008. Politicians in D.C. have time and again neglected fiscal responsibility and chosen what has become a routine route of bandaid fixes that have further sank the nation in debt.

Like the age old question of who watches the watchmen, who will provide bailouts for the bailouteers when the time will surely come?

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