So now we’re going to bail out Fannie Mae and Freddie Mac? That’s just wrong. I pay my mortgage on time every month, sometimes it’s pretty tight but it gets paid. I applied for a loan that was within my means. Now I know things happen to people and sometimes life events change things in such a way that people become unable to pay for things. I’m not talking about those few people that this happens to. However several years back so many people jumped on the variable interest rate loan knowing full well that they were going to have to go to the higher fixed rate and that their payments were going to go up to an amount that was way beyond their means of paying back. So now that this has happened it’s up to us as taxpayers to bail these people out? Worse yet, we’re not bailing out the people that took out the loans, we’re bailing the banks out that lent them the money!!!! WTF???  The real reason we have to fix it it because 1) It’s an election year and politicians will buy votes. 2) More importantly, a lot of this mortgage debt is held by foreign companies. If we don’t pay it the value of our dollar will plummet. It wont be worth the paper it’s written on.

 

So all you taxpayers that go out, buy a home you can afford, pay all your taxes, and live within your means, buckle up, you’re getting ready to get hit with yet another tax bill to pay for those that choose not to. Woooo!!!