No, No, NO!

President Bush threatened to veto the Foreclosure bill proposed by democrats.

This bill created by democrats wants to allocate billions of taxpayer funds to bail out individuals who basically bit off more they could chew. It attempts to prevent foreclosure on homes across the county. Rep. Neugebauer from Texas brings up a valid point. “The American people don’t want to make their neighbor’s payment when they’re having trouble making their own”, which is precisely what this bill would do.

Assuming the bill passes, and homeowners are pulled from the brink of defaulting on their mortgage loan, what makes anyone think these people will be able to afford the TAXES on their homes if they can’t afford the home itself? At which point where they default on paying their taxes, they will again face foreclosure. Then what democrats? Or don’t you think that far ahead? If it’s not the house payment it will be the taxes on the house payment that these people will more than likely default on. I happen to work at a law office that specializes in this area of law and, thus, see this scenario on a daily basis. The point remains that they cannot afford to live in the lifestyle they have chosen and therefor should more than likely downgrade or downsize their spending to accommodate their income; rather than require the federal government to bail them out at taxpayer’s expense.

Additionally, Bush (rightfully) threatened to veto a similar bill that would allocate $15 billion to states to purchase the land and make improvements on the foreclosed land.

Where is the liberal logic (oxymoron, I know) in this?

They claim to be doing this to help the down and out Americans but the only people who would benefit from this is the lending institutions as our President clearly states. He claims it will “reward the lenders who helped cause the housing chaos and could act as an incentive for them to foreclose rather than find ways to help struggling borrowers stay in their homes.”

In all honesty, this is just a political ploy on behalf of the liberals to get in good with the American people prior to the November election. They don’t truly believe that it’ll pass. They were skeptical it would even make it out of the house let alone be signed into effect. Better luck next time.

Stick it to em’ Dubya!