Obama's campaign surrogates try to hoodwink the public that McCain-Palin have no sympathy for, and no plans to help those struggling to keep their homes, or to those that have already foreclosed on a home. We are to believe that Sen. Obama has a plan of how to keep people in their homes, but his Senate voting record isn't just thin on the subject, it just isn't there. (www.votesmart.org)
At the encouragement of Alan Greenspan and many Senate Democrats, President Bush lowered the prime interest rate in '02, enabling people to get mortgages that would have never been able to do so otherwise. Poor choices were made by some, including refinancing to consolidate high credit debt, or refinancing on 5 year ARM's. Some simply got into a home mortgage that had no business doing so for a variety of reasons. For others, homes were lost due to circumstances beyond their control and not because they were a risk up front. No matter the circumstance, interest rates in the neighborhood of 5% vs the previous 8 to 10% were seductive and real estate investment soared. Of course, the Bush Administration is soley to blame now should we be inclined to believe the Obama mania crowd. They fail, however, to mention their annointed leader's own track record:
Feb. '08 Economic Stimulus Plan HR 5140 No Vote for Obama
Apr '08 Energy Tax Credits Amendment to HR3221 No Vote for Obama
Apr '08 Housing Bill w/ Energy Tax Credit Extensions HR 3221 No Vote for Obama
May '08 Optional Wind Damage Insurance Amdt 4719 No Vote for Obama
June '08 Housing Foreclosure Assistance Program Amdt 4983 No Vote for Obama
July '08 Housing Bill w/ Energy Tax Credit Extensions HR 3221 No Vote for Obama
This is a crisis of major proportion and consequence. He has time to talk about it all day long on the campaign trail, but has no time to show up and vote.
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