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?
Comments
Leo:
Oh no, it's going to get better...I mean WORSE, no make that bett...aww, you know what I mean.
;)
Oh just wait boys and girls, we're going to see some real interesting and creative "plans" for sure.
I actually think it would be cheaper if we just gave every schmuck with a lousy credit history a check for $100,000. I mean we've essentially been doing it already by proxy buy paying for the home itself, let's just give 'em the dough instead. Hell, a trillion here, a trillion there.
Less paperwork.
Hey, Tim...give ME that $100K (even with MY credit rating nicely in the 800s) and watch HOW FAST I burn rubber OUTTA this burg...heh, heh, heh.
And everyone here can go KMPWA!
(if they can catch UP to me, that is)
;)
Not to rain on anyone's mud feast/happy-face parade, gentlemen, but as I read on in the article Leo has pointed to, it related a few additional facts pertaining to the program in question:
(1)
Michael B-P, All due respect to Councilman Jarvis etal:
1. (1)