Thursday, July 22, 2010

Obama and Congress Throw Citizens A Bone

With the increasing joblessness and homelessness now increasing across the nation, and outrage of an increasingly dissatisfied electorate with both mainstream political parties and their agendas bypassing both Constitutional provision and restraint, Congress and the Obama Administration threw the American people another bone.

Unemployment benefits checks will be reinstituted.

And just how much is unemployment - about a third of most citizens former take-home pays, over another third less than their former paychecks even after withholding?

Although, of course, this does nothing for the small businesses that have gone under during this banker, Wall Street and political economic recession, or those homeowners who are still in danger of losing their homes due to the illegal loans which were sold in the West and Southwest primarily, since nothing has been done to address the causes of the foreclosure tsunami, just the symptoms.

Loans which have no fundamental basis in our Constitution, based on foreign currencies (the British LIBOR) which were sold to unsuspecting homeowners during the boom who were forced into refinances due to rising costs of ownership.

Especially in the border states which had also seen increases in insurance rates for both autos and homes go off the charts, and whose property taxes were tied into their home valuations.

The predatory lending practices of these banks have simply been promoted by this Administration, pushing Americans to refinance into these same "foreign" based loans, and now even kids for college tuition increases which also have gone off the charts.

Sallie Mae's funding is weighted toward also promoting these London banking index rate loans, and seems to be that this is why Mr. Obama has been on the "get re-educated" and "refinance" bandwagon - to trap the American people who thus far have not been affected and still have their homes, and now even our youth then also into these adjustable foreign based loans.

Seems the "change" which has occurred has been a "change" in the face behind the podium, but not at all the agenda.

Wall Street, the "global" economy and New York profits at the cost of the rest of the country and citzenry.

Since due to those excessive salaries of our "misrepresentatives," they seem to be the heaviest investors in this "global" economy which is being promoted at the cost of America's own.