Wednesday, February 25, 2009

Mortage Bailout: Just to be clear on what is being proposed

Here is how I see the mortgage bailout affecting me and other responsible people:

First, those of us who saved and invested by foregoing conspicuous consumption lose half of our retirement and other investments due to governmental policies encouraging the over consumption of housing which caused the bubble.

Second, the government forces us to bail out the reckless banks which loaned the money and the entitlement-minded people who bought too much house.

And thirdly, what little we have left in investments and savings will be destroyed by the coming inflation due to the reckless stimulus bill intended to prop up a system that caused it all.

In other words, the responsible will pay three times to bail out the irresponsible.

Here is what Michelle Malkin has to say on the subject:

There are two Americas. One America is full of moochers, big and small, corporate and individual, trampling over themselves with their hands out demanding endless bailouts. The other America is full of disgusted, hardworking citizens getting sick of being played for chumps and punished for practicing personal responsibility. Michelle Malkin

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