Lets see we are going to bailout or rescue Fannie Mae and Freddie Mac and homeowners who in most cases should have never received loans. The deficit for next year is going to be $490 million dollars. Yep, things are just fine. Thank you George Bush. We love you.
Wait, wait, wait. I am hallucinating. We are in deep doo. We should not bail these people out. Let the market correct itself. If this happened then the housing market would correct itself and prices would fall to where they belong. In most markets where the real estate market has been hit bad prices are not falling. Believe me. I see it here in Tampa. Prices have not fallen to any real extent and we have one of the worst markets in the U.S. and there are tons of places that are sitting empty.
As for the deficit that is just inexcusable. We will pay dearly for that in the very near future. The $490 million does not even include the dollars spent on the war. How do we fix that problem? Well I guess we could end the war and direct that money to the deficit.
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