The war in Iraq? Nope.
The lack of jobs which pay a living wage? Nope.
Increased cost of health care and related bankrupticies? Nope.
Credit companies sucking the blood out of struggling Americans? Nope.
Corporate CEOs who rape the retirement funds of their employees? Nope.
The increased cost of gas? food? utilities? Nope. Nope. Nope.
It's ALWAYS been the housing market.
And Larry boy has always known that. He's so smart! And polite too! He didn't want to be rude and point out the obvious a few months ago... it would have embarrassed the Republican presidential nominees who all claimed that our economy was doing SO well! He didn't want to point it out last year... or the year before...
But now it is the right time for Larry Craig to not only explain to America what the real problem is but to also offer the miracle solution!
Are you ready?
No, no, he doesn't support the economic stimulus bill that the House and Senate passed February 7 because it did not address the housing problem.
He also opposed the bill because he felt that it was "fiscally irresponsible to increase our budget deficit by $150 billion just to give everyone a few hundred extra bucks to spend."
Fiscally irresponsible?! I didn't realize he even knew what those words MEANT!! (I happen to agree with him... as much as I will appreciate the money to catch up on our outstanding bills, I know we'll be paying for it later.)
No, Larry's magic potion consists of providing a $5,000 tax credit "to buy homes sitting on the market".
That will not help those who are losing their homes right now... or are behind on their payments.
That will not help the folks who are struggling to pay rent.
That will not help the families living in substandard housing.
That will not help the families who use their full paychecks to pay for gas, food, and medical bills.
That will not help the families whose credit is already so damaged due to wages that can't keep up with the cost of living that they would never be able be approved for a loan.
That will not help the families who haven't even been able to set aside money for a down payment (they put it in their kids' college fund instead... ha ha ha!).
So... who does this help?
- The banks... who have foreclosed on many homes.
- The people who want to sell their $200,000 home to buy a $300,000 home.
- The developers who got greedy and built more homes than the market could absorb.
- The families who need to sell their $200,000 home so they can move into a $100,000 home because they can no longer afford to pay for their $200,000 home.
- The wealthy who need a second/third/fourth vacation home, and another tax break like I need another dog.
Larry closes with this:
"It may help some, but it won't be enough. I believe that because Congress didn't address the housing market this time around, we will be back in a few months doing this again. Next time, I hope Congress gets it right."
Why do I feel like throwing up?
Check out his E-Newsletter... and don't forget to answer his survey question:
Personally, just about everyone I know would is struggling to hold on to the house they already have...own or rent.