Stimulus we can believe in
Yesterday, my wife told me about one of the financial talkers on cable and a proposal that he made. I think it was Jim Cramer of CNBC, but since I have seen neither a video clip nor a blog where he makes this proposal, I will not attribute it to him.
There is no doubt the economy is in trouble. If I had my way, we would be doing massive tax cuts to stimulate the economy, along with reasonable spending reductions until we come out of this. Unfortunately, the Obama/Pelosi/Reid axis of fiscal evil does not believe in tax cuts. While I want Obama’s policies to fail, I do not want America to fail. We need a stimulus and this is one that would work.
One major part of our current economic disaster is the housing market. One in nine are believed to be either behind on their mortgage or facing foreclosure. So far, the only proposals for bailouts from the Obama/Reid/Pelosi axis of fiscal evil have been to bail out the cheats and the deadbeats. For these people, it does not matter if you give them a 4% mortgage and bail them out. They still can not pay. All they are doing is rearranging deck chairs on the Titanic.
How about something for the rest of us? How about something those of us who played by the rules? How about something for those of us who did it right?
The proposal is simple. Everyone who has a mortgage can qualify for a 4% government backed mortgage. This would work wonders for the economy. For most middle class people, this would lower their payments by hundreds of dollars a month and give them at least one month where they would not have to pay a mortgage. Where would this money go? Some of it would probably go to pay off bills. Some of it would go into the economy to buy things. People will buy cars, appliances, have their houses remodeled. They will do any number of things, but the money will go into the economy and help keep their neighbor employed!
This is a stimulus for Americans who work hard and do as they are told. This is a stimulus we can believe in.