Sunday, December 13, 2009

The War at Home on Two Fronts Paralizing Our Recovery. Thank You GOP and Wall Street Banks.

Congressional Republicans are paralyzing the countries progress in health care, Wall Street regulation and stimulating the economy by bogging down the system, creating uncertainty on every front. Consumers and business are acting pretty much like a deer in the headlights. Banks don't want to loan money to keep businesses open or lower mortgage rates for families chomping at the bit to save hundreds of dollars a month. Without the saved money, American families won't be able to help stimulate the economy by buying goods and services. Thank you free marketeers.

On Meet the Press Jim Cramer and Alan Greenspan were in agreement that right now, the governments uncertainty in dealing with the major issue of the economy is holding off the recovery.

NY Times:
Mortgage rates in the United States have dropped to their lowest levels since the 1940s, thanks to a trillion-dollar intervention by the federal government. Yet the banks that once handed out home loans freely are imposing such stringent requirements that many homeowners who might want to refinance are effectively locked out. Refinancing could save owners hundreds of dollars a month, which could be spent, saved or used to pay down debts. Extra spending would help lift the economy, and lower payments might spare some people from losing their homes to foreclosure.

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