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$700 billion
Sep. 20th, 2008 09:08 amI own my home. Buying a house was a struggle for us, but one that was worth it. When we signed the mortgage, and every other mortgage or home loan since, we were always very paying meticulous attention to how much our notes would be, what costs we were incurring, and how the loan rate affected the payments. In other words, we read between the lines before signing away 30 years of our life.
In this new era of hyperinflation, it's become harder and harder to make each paycheck last. Maintaining the house is more expensive, coupled with the rise in groceries (feed three growing kids for a month and you'll see), gasoline, power bills...yada, yada, yada. Our savings has shrunk. Our disposable income is disposed. But we still make that house payment each month because we knew, ahead of time, what our responsibilities would be in the long term.
The thought of almost three quarters of a trillion dollars to save not only the mortgage industry, but every individual(s) that has either defaulted or is defaulting on their home loans, is mind boggling. I understand that a whole lot of these lendees are people that would struggle to make the payments promised by unscrupulous institutions that never cared about the long-term consequences. But some of these loans were for homes much larger and tonier than my own, for loan amounts that dwarf my own, to owners that probably make a lot less than I do.
My tax dollars, the money that is ripped from my hands every single paycheck, are going to save their homes. While I do not relish the thought of millions of people being kicked to street, and some already have, I also harbor a very selfish complaint: where's mine? Greedy, perhaps. Insensitive to those who are losing their homes, maybe. But why did you sign a contract you couldn't fulfill? I was very responsible with my business, but since they weren't I have to pay for their blunder.
Yes. I will be bitter about this. Very. The White House feels an immediate need to save the homes of millions of homeowners that weren't savvy enough to know what they were getting into but signed on the line anyway. The White House seeks to clean up the mess it created. By dipping into my bank account. I'd rather be funding the tens of thousands of people that lived around me, or at least they used to. And I can't do a damned thing about this, no matter who I vote for.
/resentment
In this new era of hyperinflation, it's become harder and harder to make each paycheck last. Maintaining the house is more expensive, coupled with the rise in groceries (feed three growing kids for a month and you'll see), gasoline, power bills...yada, yada, yada. Our savings has shrunk. Our disposable income is disposed. But we still make that house payment each month because we knew, ahead of time, what our responsibilities would be in the long term.
The thought of almost three quarters of a trillion dollars to save not only the mortgage industry, but every individual(s) that has either defaulted or is defaulting on their home loans, is mind boggling. I understand that a whole lot of these lendees are people that would struggle to make the payments promised by unscrupulous institutions that never cared about the long-term consequences. But some of these loans were for homes much larger and tonier than my own, for loan amounts that dwarf my own, to owners that probably make a lot less than I do.
My tax dollars, the money that is ripped from my hands every single paycheck, are going to save their homes. While I do not relish the thought of millions of people being kicked to street, and some already have, I also harbor a very selfish complaint: where's mine? Greedy, perhaps. Insensitive to those who are losing their homes, maybe. But why did you sign a contract you couldn't fulfill? I was very responsible with my business, but since they weren't I have to pay for their blunder.
Yes. I will be bitter about this. Very. The White House feels an immediate need to save the homes of millions of homeowners that weren't savvy enough to know what they were getting into but signed on the line anyway. The White House seeks to clean up the mess it created. By dipping into my bank account. I'd rather be funding the tens of thousands of people that lived around me, or at least they used to. And I can't do a damned thing about this, no matter who I vote for.
/resentment
