NObama!!

TIME AND TIME AGAIN WE'VE LEARNED THAT THIS MAN IS A MAN OF WORDS ONLY AND MANY GROSSLY EXAGGERATED STATEMENTS!

1.  Obama claims "Over the next two years, this plan will save or create 3.5 million jobs.  More than 90% of these jobs will be in the private sector – jobs rebuilding our roads and bridges; constructing wind turbines and solar panels; laying broadband and expanding mass transit."

I've been talking about this stupid job creation for a while now!  One time it was 3 Million jobs, the next time he inflated it to 4 Million jobs and now this time it is 3.5 Million jobs!  He has no real clue what the results are going to be!  Yet, he doesn't have any data or statistics to show this will be true!  These are all guesses and rhetoric I'm tired of from Obama.

2.  Obama has "launched a housing plan that will help responsible families facing the threat of foreclosure lower their monthly payments and re-finance their mortgages.  It’s a plan that won’t help speculators or that neighbor down the street who bought a house he could never hope to afford, but it will help millions of Americans who are struggling with declining home values – Americans who will now be able to take advantage of the lower interest rates that this plan has already helped bring about."

What is the definition of "responsible families"?  Once again no guarantees! He has no plan behind this action...how many loans were given to homeowners that lied on their applications about their income?  Are these the same people that Obama plans on helping?  Lying on an application is irresponsible, yet many people did to qualify for their mortgages even "good" homeowners...

3.  On the Auto Industry:  As for our auto industry, everyone recognizes that years of bad decision-making and a global recession have pushed our automakers to the brink.  We should not, and will not, protect them from their own bad practices.  But we are committed to the goal of a re-tooled, re-imagined auto industry that can compete and win.  Millions of jobs depend on it.  Scores of communities depend on it.  And I believe the nation that invented the automobile cannot walk away from it. 

Everyone already knows he's mistaken about the "nation that invented the automobile" but what actually pushed our automakers to the brink?  Poorly made vehicles!  Vehicles made without thought of the consumer at times!  Hell if the Ford F-150 and the Chevy Silverado are the top selling vehicles than why don't they stick with making Trucks instead of a bunch of other junk! 

4.  His claims of the Oil Imports are more today than ever before are false!  If you look at the facts found Imports peaked at 2005 levels and have been declining since!

5.  "We've already identified two trillion dollars in savings over the next decade."  Why don't you at least tell us the savings over the next 4 years or 8 years Mr. OBama?  Is that because you know that your $2 Trilliion can't really be saved?  Where is the actual "Identifications" of this savings at?  Can you show the American Citizens?

Sorry this is a quicky I've got a busy week!!!! More comments to come in the coming days and weeks!

From the Whitehouse Website:

http://www.whitehouse.gov/the_press_office/Remarks-by-the-President-on-the-mortgage-crisis/

"In the end, all of us are paying a price for this home mortgage crisis. And all of us will pay an even steeper price if we allow this crisis to continue to deepen," President Obama said today in Phoenix, AZ. "But if we act boldly and swiftly to arrest this downward spiral, every American will benefit."

He laid out the four key elements of the Homeowner Affordability and Stability Plan:

1. refinancing help for four to five million homeowners who receive their mortgages through Fannie Mae or Freddie Mac
2. new incentives for lenders to modify the terms of sub-prime loans at risk of default and foreclosure
3. steps to keep mortgage rates low for millions of middle class families looking to secure new mortgages
4. additional reforms designed to help families stay in their homes

"The plan I’m announcing focuses on rescuing families who have played by the rules and acted responsibly," the President said, "by refinancing loans for millions of families in traditional mortgages who are underwater or close to it; by modifying loans for families stuck in sub-prime mortgages they can’t afford as a result of skyrocketing interest rates or personal misfortune; and by taking broader steps to keep mortgage rates low so that families can secure loans with affordable monthly payments."

PROBLEMS WITH THE HOUSING PLAN:

Brad A. Blakeman states "The President’s Homeowner “Rescue” Plan is yet another socialist policy that rewards bad behavior and treads on the free market. Sure there are Americans who are legitimately in need and they should be helped, but, there are an awful lot that were as greedy and negligent in managing their finances as we have seen on Wall Street. So, I guess the plan is now that we will bail out Wall Street and Main Street, regardless of fault, incompetence or greed. It’s no longer a matter of personal or professional responsibility, it has become a matter of entitlement."

Steve Steckler states "Praising Obama and his fellow Democrats for the plan is like paying your kids to clean up their rooms. While it may be the best of bad alternatives, it reinforces the fact that the mortgage mess (as opposed to the Wall Street mess -- they overlap, but are not identical) is largely a Democratic one. The huge number of people who are "under water" on their mortgages -- the primary targets of the plan --is a direct result of Fannie Mae's and Freddie Mac's willingness to buy almost any mortgage issued under almost any terms.       

Despite warning signs as early as 2003, Barney Frank and his fellow Democrats (and a few Republicans feeding at the same campaign troughs) fiercely supported Fannie and Freddie as they over-leveraged themselves and recklessly facilitated easy-money mortgages for people who could not afford the homes they were buying. Now Obama is putting taxpayers on the hook to keep people in those unaffordable homes and backstop Fannie's and Freddie's lunacy (at a cost of between $66 billion and $400 billion) in a manner almost identical to the much- loathed October bank bailouts. However noble was the cause of expanding home ownership, it's useful to remember who the original sinners are here and who will bear the cost as Democrats struggle to clean up a mess of their own making."

Sen. Richard Shelby of Alabama, the ranking Republican on the Senate Banking, Housing and Urban Affairs Committee, blasted the plan, saying it “appears to help those who least need it, and doesn’t help those that do.”

He objected most to the main theme of the foreclosure plan – using monetary incentives to spur lenders and borrowers to do the right thing.

“The biggest outrage is that the president’s plan actually will use taxpayer money to pay people to do what they are already supposed to do – pay their mortgage,” Shelby said. “It also uses taxpayer money to pay banks to do what they should already be doing – modifying mortgages.”

I FOR ONE AGREE that this plan is highly unneccesary!  It only benefits Americans who failed to do what they were supposed to do right!  Where is the benefit for all the Good Americans?  The ones who work hard and didn't jump into the same predicament?   I'm not saying some of the current homeowners don't work hard...I'm just saying with proper financial planning, with proper ability of a down payment, without cheating the system to get into homes they couldn't afford or loans that were going to spiral out of control...It's like gambling or investing you are always taking a risk, isn't that why they call your home your largest "investment" that a person makes?  All investments have risks!