The Mogambo Guru says the proposal by two Congressmen to provide a tax credit for some homeowners facing foreclosure is “beyond insane.” Encouraging Americans to borrow and spend beyond their means is the reason the US economy is now staring recession in the face. Now the government wants to give overborrowed consumers (and the banks that offered up so much easy credit) another bailout? Some way to use taxpayers money…

It is reported that the twin idiots in Congress, Christopher Dodd and Barney Frank, are actually proposing a tax credit for buyers of particular houses to prevent foreclosure! I am stunned!

This is not some puny tax deduction, where you don’t have to pay income taxes on part of the money you spent, but an actual Tax Credit, where you get back a part, or all, of the money you spent! Hahahaha! You spend it, the government gives it back to you, and you spend it again! This is the government’s plan! This is end-stage insane!

This is actually beyond insane, even for lunatic liberal Leftist morons like Dodd and Frank! I can’t believe what I am reading: The government is giving taxpayer money to people, with which to buy houses that are too expensive for them to buy, because the banks lent them too much money compared to their income, and now the busted homeowners need to be bailed out so that the banks don’t foreclose, thus saving the banks!

And don’t hand me any of that crap about “helping people own their own home as part of the hallowed American Dream”, because if the Congress actually wanted to do that, they would simply pass some laws preventing the banks from pursuing these walk-away-from-the-mortgage people, and then enact some more laws to prevent future lenders from even considering the fact that these deadbeats walked away the last time they bought a house, and they stuck the banks (and eventually the taxpayers, after the inevitable bailouts) with huge losses.

And this is not to mention that Senator Dodd was the go-along-to-get-along, see-no-evil chairman of the Banking Committee for the last couple of years that the banks were doing this crap, and a Senator the whole time the banks were doing this! And more! And without complaint from Dodd! Hahaha! And now this! Hahaha! This is beyond lunacy! This is freaking surreal!

I go to the window and I shout, “I’m as mad as hell, and I am not going to take this anymore, and the people of Connecticut owe me, our children and the United States a huge, huge, HUGE apology for electing the egregious Christopher Dodd!”

Source: Sleeping Through a Catastrophic Economy