For providing a mechanism to allow every man, women and child regardless of income level, race, background, education level, etc.. to realize the American dream in the form of home ownership? Where is the love?
This mechanism provides huge debtorship, not homeownership. Huge debt(mort-gage) = you don't own the home.
Well jesus, what more do you want? For wall street to buy homes and give them away for free!?! Who pays cash for a house? What the heck are you talking about?
Oh the Democrats are definitely complicit in the subprime. And so are the Republicans. http://www.whitehouse.gov/news/releases/2004/08/20040809-9.html It's one big happy party! President Bush's Policies Promoting the Ownership Society * More Access and More Choices in Health Care. The President's goal is to ensure that Americans can choose and afford private health care coverage that best fits their individual needs. The U.S. health care system can provide the best care in the world, but rising costs and loss of control to government and health plan bureaucrats threaten to keep patients from getting state-of-the-art care. The President's agenda includes: o Health Savings Accounts (HSAs), which combine low-cost, high-deductible health insurance with tax-free savings accounts to pay for health care expenses. The President has also proposed to make insurance premiums associated with HSAs tax deductible. o Association Health Plans (AHPs) to give America's working families greater access to affordable health insurance. By allowing small businesses to band together and negotiate on behalf of their employees and their families, AHPs would help small businesses and employees obtain health insurance at an affordable price, much like large employers and unions. o em>Strengthening Medicare. President Bush signed legislation in 2003 to establish a prescription drug benefit under Medicare. Under this plan, private health plans will compete for seniors' business by providing better coverage at affordable prices--helping to control the costs of Medicare by using market-place competition, not government price-setting. And seniors will be able to choose the health care plan that best fits their needs--instead of having that choice made by the government. * Expanding Homeownership. The President believes that homeownership is the cornerstone of America's vibrant communities and benefits individual families by building stability and long-term financial security. In June 2002, President Bush issued America's Homeownership Challenge to the real estate and mortgage finance industries to encourage them to join the effort to close the gap that exists between the homeownership rates of minorities and non-minorities. The President also announced the goal of increasing the number of minority homeowners by at least 5.5 million families before the end of the decade. Under his leadership, the overall U.S. homeownership rate in the second quarter of 2004 was at an all time high of 69.2 percent. Minority homeownership set a new record of 51 percent in the second quarter, up 0.2 percentage point from the first quarter and up 2.1 percentage points from a year ago. President Bush's initiative to dismantle the barriers to homeownership includes: o American Dream Downpayment Initiative, which provides down payment assistance to approximately 40,000 low-income families; o Affordable Housing. The President has proposed the Single-Family Affordable Housing Tax Credit, which would increase the supply of affordable homes; o Helping Families Help Themselves. The President has proposed increasing support for the Self-Help Homeownership Opportunities Program; and o Simplifying Homebuying and Increasing Education. The President and HUD want to empower homebuyers by simplifying the home buying process so consumers can better understand and benefit from cost savings. The President also wants to expand financial education efforts so that families can understand what they need to do to become homeowners.