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.
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62 comments Add your comment
hryder
March 24th, 2010
5:46 pm
Anyone with a modicum of rationality knows that this is another means of achieving two desired aims by those who designed the program: A) redistibuting funds, and B) purchasing votes to remain in power politically.
Jefferson
March 24th, 2010
6:24 pm
Make the best of a situation and plan is what I was taught.
Miller
March 24th, 2010
6:25 pm
Hryder has got it exactly right. Easy to see, take from one, give to the other and get a vote. Same old Chicago game going on.
JTK
March 24th, 2010
6:54 pm
Whoever made the comparison about the mandate to buy healthcare insurance to the mandate to buy car insurance just doesn’t get it. You are not FORCED to buy car insurance unless you CHOOSE to drive a car. If you don’t drive, you don’t have to buy car insurance. This is the complete opposite of the healthcare mandate. You are FORCED to buy it even if you don’t want it. BIG DIFFERENCE!
The udder side!!!
March 24th, 2010
7:16 pm
Joe (Gimme a second and I”ll say something reeeeally stupid) Biden
March 24th, 2010
5:36 pm
Oh yeah…We should be afraid of the real me like Sara the terrible and Glenn “big baby” Beck, Or Rush and Sean!!!! There is a couple of real tough guys right there!!!! oh and if all else fails, You guys can turn to the toughest guy of them all, Ann ” Man Hands Coulter!!!! LOL
The udder side!!!
March 24th, 2010
7:18 pm
JTK
March 24th, 2010
6:54 pm
Stop splitting hairs….. If You choose not to buy health care pay the fine and thats it!!! I own several cars and I would like to own them without buying insurance. If I hit something let me figure out how to make it right. You cant have it both ways, bro…. if you are opposed to mandates, don’t pisss around trying to defend them!!!
irishmafia
March 24th, 2010
9:54 pm
So the government requires the American people to purchase a product from the marketplace
So what’s to stop the government requiring people to buy a car to help the auto industry and improve transportation?
Or require everyone to take one flight a year to help the airline industry?
Unlikely comparisons? ten years ago would you have thought the federal government would require you to buy health insurance supervised by the IRS?
irishmafia
March 24th, 2010
10:00 pm
So if a person doesn’t buy insurance in the future they will be fined a maximum of 1% of their income. So if I’m making $60,000 I can be fined $600 -but my insurance is $4k to $ 6K so I pay the fine. If I ever get ill –insurance companies cannot turn me down so I buy the insurance after I get sick! Not much of an incentive to make me have health insurance. And how do you think insurance companies will afford covering people who only buy insurance after they are sick?
irishmafia
March 24th, 2010
10:05 pm
So the economic impact of the “health care” bill will be felt quickly. Buried in the bill all fast food outlets diners etc are required to have calories contents on all their menus, in store overhead menus and even on their drive thru menus –Who will pay for this? The consumer of course with higher prices to cover the cost of complying with the new law. Only the start on how everyone will face increased costs across the board to pay for Obamacare
Glenn
March 25th, 2010
8:52 am
@ swede Atlanta
This 15 billion shouldn’t have been needed for any program involving foreclosure help . The only reason the banks are operating is because the tax payers bailed them out . At that point there should have never been any reason for the banks not to be forced to renegotiate any property that was subject to negative equity . That should have been part of the deal once they accepted the money . I stand by what I said . It would have been smarter to have socialized the banking system . Borrowing money from a communist country with interest & giving it to the banks so they can balance the books & loan us back the rest with interest is silly . It is the hybrid mix of public & private policy that is the biggest harm to our system & will do more harm to healthcare . Actually it is the biggest reason we need to have it overhauled . If employers didn’t subsidize healthcare I would bet policies would become much lower over night .
As far as whatever you are going for with the gun comment , that is what I feel . Once the state government wants to put laws in place that allows people to carry guns in bars , churches & the airport I would hope that the federal government would just step in & remove them all. No one should have the right to carry a gun into a bar .
No More Progressives!
March 25th, 2010
9:45 am
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>>>>
I’m not qualified to be a lawyer. My parents were married.
There is no article, clause or paragraph in the Constitution that allows the Federal Goverment to MAKE you purchase anything. It also violates the 10th Amendment.
Show me otherwise.
No More Progressives!
March 25th, 2010
9:48 am
You know what the definition of a cow that couldn’t make it is?
An udder failure.