Too many republican (remember they are responsible for 40% of the NEW STIMULUS) and Dems promote that the free flow of credit and a life-sentence to debt is the lifeblood of our nation (and I believe they speak for all of western society). Not one thing in this stimulus curtails debt. Not one. It's all about extending credit limits further and deeper debt.
I looked to see if ppl with current student loans would be offered lower interest rates? No, only higher loan amounts. Same for the mtg modifications. Everyone pretty much is going to qualify for a 105% loan on their abodes. What about equity?
The number one reason ppl walk away from their homes is bc they have nothing invested in it. Looking over the published foreclosures in my local papers 100% of them involve balances where he principal owed is no lower than 98%. They have put absolutely nothing down, invested nothing, yet want to call them "their homes". Ppl can't just occupy property and call it ownership. There has to be some kind of money transfer, and folks all over the country who HAVE invested and made that monetary transfer into their homes, are not sitting still while the govt demands they pay for those who do not.
It's beginning to look like an accelerated collapse, as both parties thrust it into over-drive by design. Even the most conservative speaking folks are recognizing it.
And the media is hiding the protests of their precious Obama.