Stimulus #2 in the works.

[Weekday Warrior]

As if Stimulus #1 didn't pizz you off enough, stimulus bill #2 supposidly is in the works..

I think this will take up where #1 left off and completly socialize America.

Rumor has it "universal healthcare" IE: Socialized Medicne is the focus of this bill.

Also, look for it to possibly bring aministy to illegals.

 

[Crazy 8]

There's been some mention on here about it, and I've joked about it before, but could we possibly see another civil war? It's starting to look more like reality and less like a joke everyday. Somebody's gonna take Big-O out I'm afraid. Pelosi needs a hollow-point to the noodle as well...:mad

 

[Weekday Warrior]

http://www.cnn.com/2008/POLITICS/10/10/democrats.stimulus/index.html


http://www.bloggingstocks.com/2008/...ats-talk-up-second-economic-stimulus-package/





housing aid in the works too
http://money.cnn.com/2009/02/18/news/economy/obama_foreclosure/?postversion=2009021812


auto manufacturers got their hands out yet again
http://www.bloomberg.com/apps/news?pid=20601170&refer=home&sid=ayGVSediQY2s

 

[bobback]

Hey all you Obama supporters...please explain to me where this money is coming from, and what effect it will have on the value of our dollar?

Also, if you sallies give me a negative rep, SIGN YOUR NAME you cowards!!!

 

[Sidehiller]

already done

I hate the stimulus crap as much as anyone, but if you look at the date on the first article (Oct 10, 2008) I think the second package is the one BO just signed. The first was the one last year.

http://www.cnn.com/2008/POLITICS/10/10/democrats.stimulus/index.html


http://www.bloggingstocks.com/2008/...ats-talk-up-second-economic-stimulus-package/




housing aid in the works too
http://money.cnn.com/2009/02/18/news/economy/obama_foreclosure/?postversion=2009021812

auto manufacturers got their hands out yet again
http://www.bloomberg.com/apps/news?pid=20601170&refer=home&sid=ayGVSediQY2s

 

[Ollie]

I believe what is labeled as stimulus 2 was rolled into the stimulus bill just passed.
If you look at the dates, that is back in oct.

The housing rescue is what is next.
They will lower the prices on the houses and lower the interest rates so the people in forclosure can afford to keep their houses.

Of cource that means if are good with your money and live within your means, you are screwed because you house value is going to plumet but the price you are paying for it will remain the same.

The ony way you will qualify for it is if you are a complete and utter moron. The dems want to reward stupidity all over again.

 

[woodzy]

The dems want to reward stupidity all over again.

Gotta take care of their own....

 

[2XM3]

There's been some mention on here about it, and I've joked about it before, but could we possibly see another civil war? It's starting to look more like reality and less like a joke everyday. Somebody's gonna take Big-O out I'm afraid. Pelosi needs a hollow-point to the noodle as well...:mad

Yup......this is total bull-sh1t

 

[ruffryder]

I believe what is labeled as stimulus 2 was rolled into the stimulus bill just passed.
If you look at the dates, that is back in oct.

The housing rescue is what is next.
They will lower the prices on the houses and lower the interest rates so the people in forclosure can afford to keep their houses.

Of cource that means if are good with your money and live within your means, you are screwed because you house value is going to plumet but the price you are paying for it will remain the same.

The ony way you will qualify for it is if you are a complete and utter moron. The dems want to reward stupidity all over again.

Sometimes I am amazed at what comes out of your mouth...err... hands...lol Did you even read it?

The plan is to KEEP HOUSING PRICES FROM PLUMMETING FURTHER!!!!! They are not going to lower the prices on the houses.

 

[Ollie]

Sometimes I am amazed at what comes out of your mouth...err... hands...lol Did you even read it?

The plan is to KEEP HOUSING FROM PLUMMETING FURTHER!!!!! They are not going to lower the prices on the houses.

WRONG.
Obama stated he wants the following.
Forclosure judges to be able to lower the value of the house and set interest rates as to allow the home owner to stay in his house.

He wants banks to re-evalute the property and lower the value to better reflect the current value and re-organize (i.e. lower the interest rates) of the homes to keep people from going into forclosure.

http://money.cnn.com/2009/02/17/news/economy/foreclosure_preview/index.htm

http://detroit.about.com/od/neighborhoods/a/Obamaforecl.htm

You say your are amazed at what comes out of my mouth (keyboard), the amazing part is................... It's true.

 

[ruffryder]

WRONG.
Obama stated he wants the following.
Forclosure judges to be able to lower the value of the house and set interest rates as to allow the home owner to stay in his house.

He wants banks to re-evalute the property and lower the value to better reflect the current value and re-organize (i.e. lower the interest rates) of the homes to keep people from going into forclosure.

http://money.cnn.com/2009/02/17/news/economy/foreclosure_preview/index.htm

http://detroit.about.com/od/neighborhoods/a/Obamaforecl.htm

You say your are amazed at what comes out of my mouth (keyboard), the amazing part is................... It's true.

Neither of your links talked about lowering the principle, and the second link was from april of last year.... I have yet to read anything that has been posted here that talks about reducing principles of loans. That wouldn't help housing prices, that would only hurt them, as you have mentioned.

 

[Blu Du]

they better start working on #3 & #4 too. because we are in a world of hurt

 

[Ollie]

Neither of your links talked about lowering the principle, and the second link was from april of last year.... I have yet to read anything that has been posted here that talks about reducing principles of loans. That wouldn't help housing prices, that would only hurt them, as you have mentioned.

"Massive foreclosures and their contagion effects formed the epicenter of the financial crisis," said John Taylor, head of the National Community Reinvestment Coalition, who was among those meeting with the administration last week. "We need a plan that meaningfully reduces loan costs through interest rate cuts [/SIZE]4"]and principal loan reductions"[/SIZE]

Principal loan reductions??
Explain that to me. If that doesn't mean reducing the home loan amount, what does it mean. If it does mean reducing the loan amount, wouldn't they have to devalue the home to do it?

 

[ruffryder]

"Massive foreclosures and their contagion effects formed the epicenter of the financial crisis," said John Taylor, head of the National Community Reinvestment Coalition, who was among those meeting with the administration last week. "We need a plan that meaningfully reduces loan costs through interest rate cuts and principal loan reductions"

Principal loan reductions??
Explain that to me. If that doesn't mean reducing the home loan amount, what does it mean. If it does mean reducing the loan amount, wouldn't they have to devalue the home to do it?

Dang, you got me on a quote from some John Tayler talking about what he thinks should be done. Though, I would argue that he is not talking about Obama's plan, just one he thinks we need. I would not take that as specifics of the plan... that is a stretch my friend, you got me, but that is a stretch..

No mention of principle reductions...

 

[ArcticBoy]

I believe what is labeled as stimulus 2 was rolled into the stimulus bill just passed.
If you look at the dates, that is back in oct.

The housing rescue is what is next.
They will lower the prices on the houses and lower the interest rates so the people in forclosure can afford to keep their houses.

Of cource that means if are good with your money and live within your means, you are screwed because you house value is going to plumet but the price you are paying for it will remain the same.

The ony way you will qualify for it is if you are a complete and utter moron. The dems want to reward stupidity all over again.

Ollie, it's no problem. Just quit paying on your mortgage and after 3-6 months poof you qualify. It is happening.

 

[Rubi]

Sometimes I am amazed at what comes out of your mouth...err... hands...lol Did you even read it?

The plan is to KEEP HOUSING PRICES FROM PLUMMETING FURTHER!!!!! They are not going to lower the prices on the houses.

I just listened to all of Obama's speech. He said that mortgages that are in default are going to have THE PRINCIPAL ADJUSTED to match current market value instead of the value of the loan. Then interest rates will be adjusted also to make the mortgage payment equal to 31% of the homeowners income.

This is complete and utter bullsh*t!!! Why should my tax dollars go to readjust someone else's mortgage because they can't make their payment?? If they can't make their payments, it is because they bought something they couldn't afford, or signed a contract that they couldn't fulfill. Why is that MY problem? I saved for years to get a downpayment, and I bought a crappier house than everyone else because I knew I could afford it even if my income went down. Now my taxes are going to go up to reward the irresponsible behavior of others?? If not paying your bills results in financial gain, the solution is simple; I'm going to stop paying my bills!

 

[ruffryder]

I just listened to all of Obama's speech. He said that mortgages that are in default are going to have THE PRINCIPAL ADJUSTED to match current market value instead of the value of the loan. Then interest rates will be adjusted also to make the mortgage payment equal to 31% of the homeowners income.

You mind hooking me up with a link??

 

[Rubi]

^^You could probably find it as easily as me. I watched it live on TV.

 

[snowmobiler]

geeeez.your hero was just on tv flapping his lips and you missed it

 

[Ollie]

Ollie, it's no problem. Just quit paying on your mortgage and after 3-6 months poof you qualify. It is happening.

AHH, but that's not the way it works.
You see, you would have to quit or find some way to take a pay hit.
I am willing to bet you make too much to qualify. You see, you have to be a complete deliquint to get this. You have to have bought a house WAY outside your ability to pay for it and then you need to cry like a little baby that somebody else would be able to stay in the house they could afford. Then and only then will the lord and master, the sainted Obama come to your rescue.

If you are responcible, you are screwed.