This should come as no surprise, to anyone who’s ever read the Communist Manifesto and/or the Democrat Party political platform:
The Senate moved against the worsening mortgage crisis Friday, voting to make it easier for thousands of homeowners with ballooning interest rates to refinance into federally insured loans.
The legislation, approved 93-1, would allow the Federal Housing Administration to back refinanced loans for borrowers who are delinquent on payments because their mortgages are resetting to sharply higher rates from low initial “teaser” levels.
The bill also tries to make FHA loans more attractive than risky subprime loans by accepting lower down payments and expanding the eligibility for counseling for homeowners having difficult with their mortgage payments.
An estimated 2 million to 2.5 million adjustable-rate mortgages are scheduled to reset in the next year, jumping to much steeper rates that could cost borrowers their homes. The wave could crest during the presidential and congressional election campaigns next year, and politicians have been wrestling with what the government’s response should be.
The Senate’s proposed changes are especially important now, given the credit crisis that has made it much more difficult and more expensive for people to refinance or get financing to buy a home. Private lenders have been reluctant to make new loans.
Allowing the federal government to insure more and bigger loans should help provide some relief and ease the credit crunch.
Of course it provides relief. It’s a public welfare program for stupid people too lazy to read the terms of their mortgage contracts. It’s Communism by another name, the idea that the State is supposed to take care of everyones’ problems no matter how stupid or minor or trivial, or no matter how culpable the person is for them. Leftards want Big Brother to bail them out of every crisis, without fail.
It’s not unusual for Democrat voters to feel entitled to MY tax dollars when they do stupid things, nor is it unusual for pandering RINOs to go along with such measures for propoganda purposes. What IS unusual is for Senator Brownback to endorse such a shameful, Socialist, unAmerican measure.
I’m trying to figure out what God is making Senator Brownback do, here. Does God want to punish the American people for not flocking to Brownback’s standard as readily as they now swarm to Huckabee’s? Or is something else going on here? Is this Brownback being weighed in the balance, and found wanting? Or am I misreading things entirely? Am I being weighed in the balance, and found wanting?
I must pray on this. Please pray for me, and for Senator Brownback. And for yourselves, America.
UPDATE: I forgot to mention my praise for Senator Kyl. Kudos to the good Arizonan, and those who voted for him. You’ve got a great Senator there, Arizona.