Don’t worry. I’m sure health care will work out much better

From The Hill:

The Obama administration’s $75 billion program to help homeowners risks failure by, “merely spreading out the foreclosure crisis,” a top government watchdog said Tuesday.

Neil Barofsky, the special inspector general over the $700 billion financial rescue package, slammed the administration’s housing program for having ill-defined metrics and for helping far fewer homeowners than originally proposed.

“The program risks helping few, and for the rest, merely spreading out the foreclosure crisis,” Barofsky said in a report. The program encourages companies to modify the terms of home loans so that borrowers can attempt to avoid foreclosure. Mounting foreclosures continue to weigh heavily on a weak housing market, which began declining more than three years ago.

The administration’s program has produced 170,000 permanent home loan modifications, which represents roughly 13 percent of the total trial offers extended, according to the latest data.

Barofsky’s report said it is possible the program only benefits half of the three or four million homeowners originally envisioned.

62 comments Add your comment

Peadawg

March 24th, 2010
12:40 pm

You forgot to mention the “jobs” bill that gives $1,000 tax credit to small business owners if they hire a new employee. Brilliant idea!!!!!!!!!

No More Progressives!

March 24th, 2010
12:44 pm

The question, Kyle, is “better than what?”

Peadawg

March 24th, 2010
12:46 pm

“The question, Kyle, is “better than what?””

Better than the other crap Obama has pushed through that didn’t do what they were supposed to do.

Jefferson

March 24th, 2010
12:46 pm

The rates are too low. This caused the problem and will remain until rates increase. Interest penalizes overpriced goods, as it should.

Intown

March 24th, 2010
12:53 pm

Even a program that helps less than what was envisioned is better than no program at all.

Republicans are sounding alot like a bunch of crybaby sore losers these days.

Peadawg

March 24th, 2010
12:57 pm

“Republicans are sounding alot like a bunch of crybaby sore losers these days.”

Expecting the CBO, Obama, etc. to be right on their projections isn’t crying. Maybe not 100% right, but more than 50%, ya think?

Ragnar Danneskjöld

March 24th, 2010
12:58 pm

Why shouldn’t the American taxpayer subsidize underwater risk-takers without limit? As our redoubtable VP would remind us, this is an f-ing big deal!

JF McNamara

March 24th, 2010
1:18 pm

Isn’t the “failure” of the program what you want in this case? The taxpayer money is not being allocated, so its effectively a saving. Shouldn’t you be happy it has a low take rate? Doesn’t that mean that the foreclosure problem wasn’t as bad as originally thought, and the banks see no reason to modify the loans?

I don’t grasp what point you are making. You just posted a blurb from someone else with no original thought of your own other than a poorly thought out headline.

HIQ

March 24th, 2010
1:21 pm

“The rates are too low. This caused the problem and will remain until rates increase. Interest penalizes overpriced goods, as it should.”

I hope you people are realizing why hardcore people get slammed in the media. It’s really easy.

No More Progressives!

March 24th, 2010
1:24 pm

Intown

March 24th, 2010
12:53 pm
Even a program that helps less than what was envisioned is better than no program at all.

Like the infamous Ponzi scheme Social Security, Medicare, AMTRAK, the Post Office et al?

The Anti-Wooten

March 24th, 2010
1:31 pm

Poor Kyle, I’m pleased to hear that the AJC maintenance staff didn’t have to clean up the newsroom from your head exploding when the Presidnet signed this into law.

I’m also pleased to note that AG Baker has declined to join the other states AG’s that are wasting taxpayer’s money with frivolous lawsuits saying that he doesn’t believe that GA has a claim against the US. Get over it, get used to it. Obama and the congress have done something that’s of benefit for a great many American’s and the Republic’s just can’t stand it.

joan1

March 24th, 2010
1:38 pm

If the legislature were to give the problem of the economy to a Masters program class at Wharton, Washington U, or any other business graduate school, they could probably come up with something like a viable, workable solution to the economic ills. Congress runs around passing legislation without understanding, or perhaps even thinking about, what the consequences will be. If a business lawyer negotiated the kinds of deals Congress does, he would be sued for malpractice.

No More Progressives!

March 24th, 2010
1:53 pm

I’m also pleased to note that AG Baker has declined to join the other states AG’s that are wasting taxpayer’s money with frivolous lawsuits saying that he doesn’t believe that GA has a claim against the US. Get over it, get used to it. Obama and the congress have done something that’s of benefit for a great many American’s and the Republic’s just can’t stand it.

That’s because it’s un-Constitutional. Never thought of that, did you?

Stuart

March 24th, 2010
1:53 pm

Since when did “Copy & Paste” from elsewhere become a requirement of an editorial journalist at the AJC?

The udder side!!!

March 24th, 2010
2:03 pm

No More Progressives!

March 24th, 2010
1:53 pm

OK….What about this law is unconstitutional??? And When did YOU become a Constitutional lawyer>>>>

Swede Atlanta

March 24th, 2010
2:24 pm

I’m no economist but I would rather try something if it helps at all. We may have to try various approaches to this enormous problem. But to do nothing is to admit defeat.

As for AG’s decision not to pursue a lawsuit to stop enforcement, good for him. Even if you are opposed to this legislation, most legal scholars agree there is little to no chance these challenges will be successful. So why waste taxpayer money on something that is unlikely to go anywhere.

retiredds

March 24th, 2010
2:25 pm

The udder side!!: It is unconstitutional because the Republicans (probably got their push from Rush et. al.) say it is. I have read some articles by some constitutional scholars over that last day or so that basically say it will be a very tough fight as it seems to fall within the precedents of past global legislation passed by the Congress. If one of these suits make it to the U.S. Supreme Court and the health care legislation is found to be not unconstitutional, the Repubs won’t be dismayed. They will then call the Supremes “activist justices”.

The Tar and Feathers Party

March 24th, 2010
2:41 pm

I see Nutty Nancy forgot to include the mandatory coverage of sick children in the health care bill, now the sick puppies have to wait till 2014 to leach off our health care premiums. ha ha ha, stupid nancy, should have read the bill before you passed it, huh?

Ragnar Danneskjöld

March 24th, 2010
2:42 pm

I am both an economist and a Constitutional scholar. The conservatives are right, that the government dictation (of quantity of limited capital resources that shall be dedicated to health care) is inherently less efficient than the free market would provide. The biggest problem with health care in the United States is that for more than 50 years the various governments have been interfering with the market, compelling industry to embrace their petty prejudices. The same is true of ObamaCare.

As to the Constitution, Congress lacks power to compel any individual to purchase any product. Justice Kennedy generally favors the individual over the power of the state, so the heart of Obamacare is doomed. The individual penalty will not be upheld, even if construed as a “tax” assessed against the middle class.

The Tar and Feathers Party

March 24th, 2010
2:46 pm

Yo, Nutty Nancy, when re distributing other people’s wealth, it helps to read your decree prior to issuing same. Ah hear the Dictator is going to start ruling by Executive Order….Hail Dictator Obama…

The udder side!!!

March 24th, 2010
2:57 pm

Ragnar Danneskjöld

March 24th, 2010
2:42 pm

Kinda like when we are compelled by law to purchase auto insurance….I understand that you are beholden to pray at the alter of the ” Free Market” but I have spent the better part of 25 years first working for and for the past ten years owning a small business deveolpment firm, and I say with confidence, the Free markets fix alot of things, but to harp on the ability of free market factors to fix this thype of issue is at the very least dishonest. We can go back and forth regarding Free market theory vs practical application, but in order for that to happen, you must at least be honest regarding real application. Based on your daily comments, I am not sure you are prepared to do that.

Swede Atlanta

March 24th, 2010
2:59 pm

Ragnar,

You may be (or may not be) a Constitutional scholar. But you are one individual. The consensus I have seen from scholars, both conservative and liberal, is that the challenges have little likelihood of success.
But that is for the courts to decide, not you or I.

Of course the free market is more efficient. With limited regulation, freedom to charge what they will, provide what services they want and to whom and kill whom they want, of course from a purely economic perspective a free market is ideal.

But we are dealing with health care, not the manufacture and sale of shoes. The government has a compelling interest in ensuring individuals are treated fairly and compassionately. The private insurers do neither.

Finally in this bill the insurers are forced to do something they don’t like to do – pay for care. No more excluding someone because of a pre-existing condition. No more lifetime or unreasonable annual caps. No more cancellation of a policy because someone gets sick.

For too long insurers have been able to cherry-pick who they wanted to insure – the young and healthy. But those aren’t the individuals that need care. It would be like an automobile insurer who insured drivers that didn’t own a car.

The only other option I see to ensuring every individual has insurance is to agree as a society that if you have no insurance you get no care unless you can pay for it in advance. If you show up at the hospital in an automobile accident and there is no evidence of either insurance or assets to cover the care, just wheel the gurney to the side. If they recover that’s great. If not just let em die.

That is not what my America would do. But clearly many think that’s a grand idea.

@@

March 24th, 2010
3:05 pm

I don’t know how long Obama can play at being president and get away with it. Some politician’s have tunnel vision….Obama has rectal vision. But HEY! No home? No job?

CONGRATULATIONS! You are a prime candidate for Obamacare.

Alfred E. Nueman

March 24th, 2010
3:24 pm

What? Me worry? Right….the same Imperial Federal Government that gave us The Post Office, AMTRAK, Social Security, Medicare….

Joe (Gimme a second, I'll say something reeeeally stupid) Biden

March 24th, 2010
3:28 pm

Hey! What’s the big f***kin’ deal? It’s only money! It’s the Government’s money! You can only have what Obama says you can have!
Still don’t understand why ya’ll give Palin a hard time—hell, she’s never said the dumb s**t I do!!

Randall

March 24th, 2010
3:32 pm

Swede

“The government has a compelling interest in ensuring individuals are treated fairly and compassionately.”

Wasn’t the Constitution written to limit the powers of Government?

John Birch

March 24th, 2010
3:41 pm

Not sure what criteria were used to determine who got modifications, which was a very important point. Early on it was estimated that if all the mortgages in default were made right, that is marked down to the new market value, 35% of them would end up in default again. That estimate was also low as 50% of the workouts went back into default. This is just one of the manifestations of the failure of underregulated capitalism.

HopeForChange2013

March 24th, 2010
3:41 pm

In 1967, the House Ways and Means Committee predicted that the new Medicare program, launched the previous year, would cost about $12 billion in 1990. Actual Medicare spending in 1990 was $110 billion—off by nearly a factor of 10.

Is it unconstitutional?
1. Chief Justice Marshall, in the 1824 Gibbons v. Ogden case, ruled that the Federal Government had no authority over health laws; that they solely belonged under the jurisdiction of the States.

2. Add to that subsequent rulings by the Court in 1837 (New York v. Miln), 1937 (NLRB v. Jones & Laughlin Steel Corp. ), 1941 (United States v. Darby), 1942 (Wickard v. Filburn), 1943 (American Medical Assn. v. United States), 1952 (United States v. Oregon State Medical Society), 1971 (Perez v. United States), 1995 (United States v. Lopez), and 2000 (United States v. Morrison, Et. Al.). In each case, the Court cited the ruling from Gibbons v. Ogden as grounds for denying the Federal Government from interfering with the sovereignty of the States with regard to the regulation and safety of their citizens.

3. And, most interestingly, An opinion that won’t be overruled easily: Roe v Wade

Supreme Court case (Roe v. Wade) in which the Court, through Justice Blackmun’s opinion for the majority, stated, “Several decisions of this Court make clear that freedom of personal choice in matters of marriage and family life is one of the liberties protected by the Due Process Clause of the Fourteenth Amendment… It was from this decision that the right of a woman to choose whether or not to have an abortion was freely established; and, ostensibly, the right of every American to choose how to care for their person, even if that includes not purchasing health insurance”.

RAMBLE ON!!!

March 24th, 2010
3:47 pm

Well, at least he got his math right with his 900 billion dollar stimulus that save us from 8% unemployment.

All Hail King Obama!!!

Swede Atlanta

March 24th, 2010
3:51 pm

Randall

That was clearly one of the objectives of the Constitution.

But remember that corporations and the protections they having using our corporate law mean that they exist only at society’s discretion. We could completely eliminate legal protections for corporations if we wanted to. As such, activities of corporations are subject to state and federal regulation.

If the insurance companies wanted to give up the legal protections of liability offered by the corporate or one of the limited liability forms, they would have much greater latitude. But even then they may be subject to other regulation that falls under the jurisdiction of the Commerce Clause.

Peter

March 24th, 2010
4:04 pm

What about Bush’s math Kyle……. Huge deficit, But the wars were not being taken into account.

Peter

March 24th, 2010
4:06 pm

I think the Cable bill, and how it just goes UP……..is indication of Free markets, and the lack of real competition.

Algonquin J. Calhoun

March 24th, 2010
4:23 pm

It’s a Republinazi Heil Fest!

Glenn

March 24th, 2010
4:31 pm

Its not Obama’s fault banks are evil . We should have socialized them . It would have been a better deal for the taxpayer . I just hope he has enough time to ban all guns .

Swede Atlanta

March 24th, 2010
4:40 pm

Glenn,

What are you talking about? The TARP program was initiated by GWB. Could it have been managed better by the Bush or Obama administrations? Sure. But the reality is this program of bailing out the banks was initiated by Bush’s Treasury Secretary.

The assistance given to GM and Chrysler was fully appropriate given the circumstances. I see no job in Obama in owning majority interests in both companies. But what was the alternative? During the worst economic downturn since the 1930s, allowing one or both of them to go under would have put hundreds of thousands of Americans out of work and would have marginalized the U.S. as a major auto manufacturer.

What else are you referring to? There is absolutely no government takeover of health care under the current reforms. Aside from those on Medicare, Medicaid and the VA, individuals will be in a PRIVATE insurance program. There will be increased government oversight and regulation but to suggest this is the government’s takeover of healthcare if laughable.

He may not have enough time to ban all guns but I’m sure he will be sure to have some of his goons stop by and confiscate yours.

RAMBLE ON!!!

March 24th, 2010
4:40 pm

I like St. Obama’s math on the 3000% savings we are going to get from our employer.

http://www.youtube.com/watch?v=tY0ve87vQMs

Look at the moonbat idiots in the background clapping.

Well, that was 3 days ago, so he’s probably got another lie I haven’t heard about yet.

When do I get my raise?

Love

March 24th, 2010
4:41 pm

If you are taking part of any of this hatred and bitterness that’s going on right now I say shame on you!!!!!!!!!!!!!!! Why the name calling and the spitting on people…This represents very very sore loosers. Is this what you want to teach your children and your children children? If this is what the Republican party represents then it’s a very sad day in America. Wow what a world we live in. All of this was bottled up inside and know it’s coming out and if you all only knew where behavior like this will take you. Wow again!!!! I know the world is coming to a end because it has come full circle. Watch out Republicans,Right wingers these are not the same Black people you all dealt with back in the day! Let me just say I know many people who are white that are not in this mess and want no part of it. It’s just a few who have had their way for so long and now there’s a new Sheriff in town and they can’t have their way anymore. I told you the last laugh would be on you.

TRUTH

March 24th, 2010
4:43 pm

No matter what you say to these Obama haters they will never appreciate what he’s doing for this country. Their hate is in the way. Everything will benefit all Americans and you never know when or if you are someone in your family may profit from this Healthcare bill.

RAMBLE ON!!!

March 24th, 2010
4:45 pm

RAMBLE ON!!!

March 24th, 2010
4:47 pm

Jefferson

March 24th, 2010
5:02 pm

Now what do you modify? Term, Rate or Principal?

Interest rates/credit is a lot like drugs, when they get cheap they cause problems.

Chris Broe

March 24th, 2010
5:05 pm

I understand the president’s math just fine, I don’t know what Kyle is talking about. Kyle obviously never heard of the Pathagobamarean Theory.

Maybe if Kyle had paid attention when they went over the math in middle school instead of startign spitwad fights behind the teacher’s back, he would be more well rounded.

RAMBLE ON!!!

March 24th, 2010
5:05 pm

Your right TRUTH.

I couldn’t see what our Messiah has done. The unemployment line was blocking my way.

Love, the name calling and spitting are just another lie your party and media has made up. Probably a SEIU plant doing it if there was any. Liberals are so shameless. Another fake hate crime, you should be ashamed of your self and apologize immediately.

Just because Comrade Cindy wants to write an article based on lies, doesn’t make it true. That’s why she has block comments. The only freedom of speech that applies with her, is what comes out of her racist mouth.

Learn to think for yourself, please.

Have a nice day. All Hail, King Obama!!!

Will

March 24th, 2010
5:08 pm

These pro-free loader republicans that want to allow people to “opt out” of purchasing health insurance to cover the needs of their family have lost my vote.

I would only support that “opt out” measure if it also carried the following waiver – “I hereby opt out of my responsibility to provide health insurance for my family. I also understand that, in the event of medical care needs for my family, I will not be allowed to received any form of taxpayer funded “free” care and will be responsible for the total cost of medical care and/or any expense related to medical care”.

Piso Mojado

March 24th, 2010
5:11 pm

Exactly – TARP was the brainchild of George W Bush. You folks remember him, don’t ya? The guy you elected to office TWICE? Overwhelmingly, if memory serves me. Go look in the mirror and pat yourself on the back because you’re the folks who got us into this mess.

Joe (Gimme a second, I’ll say something reeeeally stupid) Biden – it’s “y’all”, not “ya’ll”. Idiot homeboy can’t even get that right.

What a bunch of Einsteins we have in this state. Ranked 40th out of 50 in people who graduated high school (including GEDs), and going nowhere but down.

Kyle Wingfield

March 24th, 2010
5:14 pm

Piso, and others: This program was part of “TARP II,” passed after Obama took office.

Joe (Gimme a second and I"ll say something reeeeally stupid) Biden

March 24th, 2010
5:26 pm

Piso

Hey brainchild! See Kyle’s previous post. And if you had “any” brain, you would know that most of TARP I has been repaid. And Mr “Einstein”, your dear Dems have held the purse strings since January, 2007.
Dayum boy–you’re dumber than me!

The udder side!!!

March 24th, 2010
5:27 pm

Do the weirdos on the right think that they are the only ones that have guns and are prepared to use them if it comes to that????

Joe (Gimme a second and I"ll say something reeeeally stupid) Biden

March 24th, 2010
5:33 pm

The udder side!!!

March 24th, 2010
5:27 pm
Do the weirdos on the right think that they are the only ones that have guns and are prepared to use them if it comes to that????

Hey! There’s just sooo many more weirdos on our Dem side!! Reeeall crackpots……Pelosi, Reid, Schumer(they know he doesn’t have a gun), Farrakhan, J Jackson, J Wright, Sharpton, Boxer (Call me Senator) Robert Byrd..C Tucker, C McKinney, Bill Campbell…gee, udder side…teehee….ya know we got some reeeall looons on our side!

Joe (Gimme a second and I"ll say something reeeeally stupid) Biden

March 24th, 2010
5:36 pm

Uder side

Hey, don’t forget me! Ya just never know what’s gonna come out of the ol’ Biden pie-hole! Oh, and Impeached Judge Rep. Alcee Hastings (D-FLA)..just loved what he said the other day ..”There ain’t no rules aroun’ heah!….We jus’ makin dem up as we go!” Hahaha—-whhheeew– that was good-un!!