Mortgages May Drop Lower
In following the national news, it looks like President Barack Obama is hoping to lower mortgage costs through the newly passed $700 billion funding bill that just passed Congress. Not to get too political here, but isn’t it a gamble for the Republicans to vote against it… especially if it works? Nevertheless, the gamble may also be fairly safe because the problems are so huge that perhaps just this first effort won’t be enough to pull us out of the crisis.
Lowering mortgage costs is just one step of many that need to be taken. For example, finding ways to bring jobs back will be a huge component. So many of our manufacturing jobs have gone to other countries in an effort for the big boys to save money on salaries and other expenses. Whoduthunkit that years later so many have left that now unemployment is so high no one can buy anything. If that’s not the biggest backfire ever, I don’t know what else is.
In any case, new Treasury Secretary Geithner is working on a plan to steady the economy,
Obama said Geithner soon would announce a new strategy “for reviving our financial system that gets credit flowing to businesses and families. We’ll help lower mortgage costs and extend loans to small businesses so they can create jobs. We’ll ensure that CEOs are not draining funds that should be advancing our recovery.”
His administration “will insist on unprecedented transparency, rigorous oversight and clear accountability so taxpayers know how their money is being spent and whether it is achieving results.”
Unlike some talk-radio hosts, for the sake of our families and our communities I hope that President Obama SUCCEEDS in his efforts to help restore our nation to economic, job, and financial health. That’s like the old movie where the guy running for president says, “God Bless America and no one else.” and the other candidate says, “God Bless America and EVERYONE else.” Seriously.
Cartoon by the very talented Beth Cravens, of Cravens World. She is a cartoonist/illustrator for the Weakley County Press in Tennessee and happens to have illustrated the covers of two books I published, found on Lulu.com.
