Because some people never learn the first time around! Witness Obama trying to prop up the housing market — again — even knowing that HIS policies the last time actually hurt the housing market! Mr. Obama has to learn that no one, even America, can BUY its way out of recession by using taxpayer dollars.
Unbelievably, in a desperate search for votes, President Obama is promising home owners in certain circumstances that the American taxpayer will again subsidize their mortgage. AND, HE IS WILLING TO ELIMINATE CONGRESS IN THIS DECISION. Why? Because he knows it is fiscally irresponsible to interfere in the housing market. And, so does Congress which is why they don’t support him on this issue.
Mr. Obama had no experience in finances, world affairs, domestic affairs, business, or anything else when he came into office. Apparently, he hasn’t learned from his mistakes either. So, be prepared for another million speeches in a self-serving attempt to make us believe what he WANTS to believe, NOT the reality of our economic plight.