Sen. Chris Dodd (D-Conn.) could have prevented a media firestorm by giving a simple explanation about why Congress couldn’t stop AIG executives from receiving lavish bonuses — and about his role in the ongoing brouhaha.
But the confusing way in which the Banking Committee chairman has handled an issue that has turned into political nitroglycerin has many people on Capitol Hill scratching their heads — and venting their anger at Dodd.
Blame it on Bush.
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When I was out of a job, and no work was to be found, late 1970-early 1980s.
Wondering how I was going to feed my young family and pay the mortgage.
It NEVER crossed my mind to have the government to pay my mortgage.
And it NEVER crossed my mind to ask for help from the state, or anyone.
At the time I was paying VA loan of 7.5 %, mortgage rate. Now it is below 5%, something I could only dream of back than. The mortgage rate in the late 70's was over 10%. So, I thought I was doing good with what I had for a mortgage rate. When people say they can't make their payment because the rates are too high I can't understand it. Maybe it's I don't want to understand it.
I was looking for a job doing ANYTHING!
I had a four year apprenticeship under my belt and over ten years of experience.
I would have done anything legal and semi moral to feed my family.
But I couldn't find any work. The thought of moving was on my mind.
For five years I had more time not working than working.
But things did get better. And I did feed my family and pay my mortgage.
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The Federal Reserve is going to extraordinary lengths to push down long-term interest rates, including home-mortgage rates. But those hoping mortgage rates will fall sharply from current levels, already historically low, may be disappointed.
Mortgage firms Thursday were quoting rates averaging 4.75% on 30-year fixed-rate mortgages, according to Zillow.com, a real-estate information service. That is down from more than 5% two days ago and about 6% in mid-November. But further big declines will be hard to achieve, partly because the mortgage-lending market has grown less competitive in the past year as hundreds of small banks and independent mortgage lenders have ...(wsj)
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WASHINGTON – President Barack Obama's budget would produce $9.3 trillion in deficits over the next decade, more than four times the deficits of Republican George W. Bush's presidency, congressional auditors said Friday.
The new Congressional Budget Office figures offered a far more dire outlook for Obama's budget than the new administration predicted just last month — a deficit $2.3 trillion worse. It's a prospect even the president's own budget director called unsustainable.
In his White House run, Obama assailed the economic policies of his predecessor, but the eye-popping deficit numbers threaten to swamp his ambitious agenda of overhauling health care, exploring new energy sources and enacting scores of domestic programs.
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