If you're a little ticked over the idea that responsible home owners are being treated like suckers while the irresponsibile ones get bailed out, you'll love this:
Mayor Bill White yanked a controversial plan Tuesday that called for the city to use taxpayer funds to pay off some personal debts for first-time homebuyers, following a flood of outrage and criticism from across the city and beyond.
“I don't think we ought to be in the business of paying off someone's debt so they can buy a house,” White conceded during an impassioned City Council meeting. “Paying off people's credit cards is ridiculous.”
Many council members expressed “embarrassment” over the idea, which received national media attention after the Chronicle wrote about it in Tuesday's editions. The story appeared to strike a nerve among taxpayers already angry over the recession, the housing meltdown, and federal bailouts of banks and automobile companies.
You think that's as outrageous as this is going to get before it's all over?