Congressional Leaders Differ on How to Help Distressed Homeowners
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There’s an interesting article in today’s New York Times about Congress’ renewed vigor to step up to the plate and solve the foreclosure crisis. Republicans and Democrats alike are “competing,” says the Times’ Edmund Andrews, to bail out struggling homeowners.
Having recently spent billions of dollars rescuing banks and insurance companies, lawmakers on both sides of the isle are now attempting to steer President Obama’s economic stimulus proposal toward what many of us have known all along to be at the root of the problem: the housing market.
Republicans in the U.S. Senate think the way to solve the crisis is to offer up to $300 billion in mortgage-related subsidies to attract new homebuyers, while Democrats want to spend up to $50 billion on programs aimed at reducing foreclosures. Whichever side prevails, something needs to be done soon, before another wave of homeowners lose their most valued and prized possession.
For more, read Both Parties Move to Aid Homeowners.
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Ralph R. Roberts, GRI, CRS |
Timely post. Here is a copy of an email being sent out by Sen. John McCain.
Draw your own conclusitons and opinions.
Dear McCain Supporter,
Yesterday, the Senate began debate on an economic stimulus package that is intended to get our economy back on track and help Americans who are suffering through these difficult times. Unfortunately, the proposal on the table is big on the giveaways for the special interests and corporate high rollers, yet short on help for ordinary working Americans. I cannot and do not support the package on the table from the Democrats and the Obama Administration. Our country does not need just another spending bill, particularly not one that will load future generations with the burden of massive debt. We need a short term stimulus bill that will directly help people, create jobs, and provide a jolt to our economy.
I believe we need to evaluate every bit of spending in this stimulus proposal with one important criteria - does it really stimulate the economy and help create jobs - if the answer is no, it does not belong in a so-called stimulus package. Furthermore, the stimulus must include significant direct relief to American workers in the form of payroll tax cuts and programs to help homeowners keep their homes. Finally, we need an end game to this stimulus so that when our economy recovers, these spending programs do not remain permanent and saddle our children with a skyrocketing national debt.
I appreciate the discussions President Obama is having with my Republican colleagues, but the time for talking has come to an end and we must now begin some serious negotiation. But as of yet, Republicans have not been given the opportunity to be involved. The House of Representatives passed a stimulus bill without a single Republican supporting it. In the Senate, the Democrat leadership is trying to jam the existing proposal through regardless of reservations from a number of members. With so much at stake, the last thing we need is partisanship driving our attempts to turn the economy around.
I have long been a fighter against wasteful spending in Washington and long an advocate for a balanced budget — that will never change. I realize we face extraordinary challenges with our economy today, but that is not an excuse for more irresponsibly from Washington. I hope you will join me in saying no to this stimulus package as it currently exists by signing this petition.
Sincerely,
John McCain
Chair, Country First PAC
Paid for by Country First PAC
Not authorized by any candidate or candidate’s committee
http://www.CountryFirstPAC
My only commeent on this is when he says, “… Unfortunately, the proposal on the table is big on the giveaways for the special interests and corporate high rollers, yet short on help for ordinary working Americans.”
Seems to me that the last stimulus package, the $700 billion falls very much into his statement. Kind of the pot calling the kettle black.
The solution for Americans needs to be Non Partisan. Our political parties need to begin to work for the good of all the people and for the good of the country. While we all have different political affiliations or views - which is wonderfully allowed in our country -the fact remains that our problems transcends politics. It is time for our people’s parties to come together for the good of all.
Debbie P…
I’m still pretty sure some people won’t like it……