Obama, in the interest of “fairness” and to help those who are down on their luck is going to give some folks (some animals are more equal than others, apparently) reduced interest mortgages down to 2%..
I’d really like to see my mortgage reduced to 2% too.
So people who are a bad credit risk get the lowest rate of interest courtesy of those who are still solvent and pay taxes. How much longer will those who are frugal and realistic in their purchases of homes be able to support the burden of those who aren’t? How much longer will the folks who are productive be willing to carry those who aren’t? And eventually, they are gonna ask, “Why should we” ?
How long can this go on? When will we take the rope and trees and pitchforks and the politicians and assemble them properly?
I guess that all those who said that he was a communist/socialist/Maoist were right……