Showing posts with label mortgage foreclosure crisis. Show all posts
Showing posts with label mortgage foreclosure crisis. Show all posts

Monday, January 31, 2011

Where are the jobs, Mr. Boehner?

Just what are the leaders of the GOP doing with their new-found Congressional majority? We all know they took the symbolic vote to repeal the Patient Protection & Affordable Care Act (PPACA or sometimes just ACA) complete with a provision explicitly naming their own bill "Repealing the Job-Killing Health Care Law Act" without proposing any alternative. We all know the majority of U.S. citizens like the reforms, and the savvy have noticed that the only part being challenged in the courts is, in fact, the mandate inserted to win GOP support in the first place and protect insurance company profits -- and that they managed not just one but two responses to the President's State of the Union.

But what are GOP leaders actually doing?

OK, fair enough, House Speaker John Boehner did take to the airwaves on Sunday, to warn FOX viewers that it, "would be a financial disaster not only for our country, but for the worldwide economy," if the U.S. defaulted on its debt, because, "You can't create jobs if you default on the federal debt." That could happen, according to some estimates, sometime between March and May due to - what? Inaction by Congress. So he's talking to pundits, which isn't exactly doing nothing.

But neither this rhetoric nor talking to pundits is creating one job. Meanwhile, Rick Ungar of Forbes and others argue that the repeal they voted for would actually be a job-killer itself. The ironies seem lost on most who fashion themselves as speaking on behalf of GOP voters.

Here's an excerpt from Ungar's Policy Page at Forbes:
"The primary, most enduring complaint of the opponents of the ACA has been that the law is deathly bad for small business.

Apparently, small businesses, and their employees, do not agree.

The next argument has been that the PPACA is a job killer.

If these small businesses found the new law to be so onerous, why have so many of them voluntarily taken advantage of the benefits provided in the law to give their employees these benefits? They were not mandated to do so. And to the extent that the coming mandate obligations might figure into their thinking, would you not imagine they would wait until 2014 to make a move as the rules do not go into effect until that time?

Of course, there is the nagging banter as to how Obamacare is leading us down the road to socialism.

Let it go, folks."


Rick Ungar,

So the pundits are permitting the politicians - particularly those leading the GOP - to play familiar partisan games, posturing for the cameras while criticizing every nuance of the President's stance and efforts, but what's the impact? Wasted time.

What does the country need? What do we want our elected leaders to actually do? Act responsibly, behave like adults, get to work and fix the problems for Main Street like they did for the fat cats on Wall Street who contribute to their campaign coffers - we need jobs.

There are millions of us, millions of hard-working citizens - and voters - out of work watching jobs move overseas and foreclosures ruin our neighborhoods, yet the politicians prefer to pretend that what matters most are symbolic votes, the profit margins and bonuses on Wall Street, and criticizing without proposing solutions, or even alternative initiatives? What's next, Mr. Boehner, holding your breath until your face turns blue?

It's enough to make a grown man cry.


Thomas Hayes is an entrepreneur, former Democratic Campaign Manager, strategist, journalist, and photographer who contributes regularly to a host of web sites on topics ranging from economics and politics to culture and community. You can follow him as @kabiu on twitter.

Tuesday, February 24, 2009

Mitt "PAC man" Romney sends checks to GOP Reps who voted "NO" on stimulus

Wish I was so rich I could afford to play games with America's economy.

Former Governor Mitt Romney’s Free and Strong America PAC today sent $1,000 checks to a group of House Republicans for their votes against the $800 billion stimulus bill. Romney's obviously not worrying about making his mortgage or utility payments, let alone balancing state budgets, any more than the GOP millionaires in D.C., who he so desperately wants to be pals with.

Must be nice to be able to throw around the kind of money that shows you're a PAC leader. Of course, we all know he basically financed his own campaign out of what amounts to petty cash even though that amount would stagger any normal family in the U.S.

I'm not suggesting that this merits the sort of scrutiny that it would if there was evidence it was pre-arranged paying for votes, but consider this: Can you imagine how he'd be reacting to the current fiscal and economic situation if we'd elected smiling Mitt to be our President? Rhetoric about tax cuts for the rich providing a stimulus, maybe. While millions lose their jobs and face foreclosure, worrying about paying for meals and losing their health coverage, Romney's paying for deliberate obstructionism, not offering ways to make the bill or the situation better.

Wednesday, February 18, 2009

Obama's visit to Mesa brings hope to fearful AZ home owners

U.S. President Barack H. ObamaPresident Obama has people paying attention and engaged -- and Dawn Teo's covering both sides of the story for Huffington Post:

Dueling groups of anti- and countering pro-Obama protesters were setup in several "free speech zones" near the high school, smaller groups were scattered across sidewalks and street corners for several blocks, where former Governor Janet Napolitano's departure to take over as the new United States Secretary of Homeland Security gave Republicans full control of Arizona's state government.

Ms. Teo wrote:
"According to Housing and Urban Development Secretary Shaun Donovan, who spoke to the press before the event, about 6 percent of Arizona mortgages either are in foreclosure or are more than 90 days behind today. Across the country, nearly 10 percent of mortgages are behind, and in December, close to half of home sales across the country were "distressed" sales. Donovan says he expects about 6 million more foreclosures over the next 3 years."
The Obama administration is supporting legislation that, if passed, would allow judges to write down the principle and/or interest of mortgages when mortgage holders file for bankruptcy, and will be releasing new mortgage guidelines, which go into effect in 2 weeks that will standardize the mortgage loan process, including the appraisal process.

"Eyes brimmed with tears, attendees described the bleak outlook of being uprooted from their homes, a common fate in the Valley of the Sun. Besides the obvious transition from pre-election rallies to stately policy talks, today's topic -- the foreclosure crisis -- was sobering for the Mesa crowd."



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