BernieHund: The Political Watchdog

Hillary Clinton has called for $30 billion in aid to stall the foreclosure mess many homeowners are facing.  Last March Barack Obama joined several senators in asking for $10 billion to head off the housing fiasco.  The plans are basically the same, but like Penelope on Saturday night live Hillary is twisting her hair and one upping her opponent.  Except in this case, Hillary is chasing the dragon.  An ounce of prevention…. and all that.

There is one small caveat.  Perhaps, both candidates don’t think “Joe Six-Pack” would understand the plans, or maybe neither has thought them through.  It seems that tossing out figures in the billions is the way our government appeases the citizens.  Anyway, I would like to know more particulars.  Who would benefit?  How would we benefit?  Who would administer the plan?  Is it a band-aid or a solution?

Remember the “stimulus package”?  The $160 billion?  When we look at the big number it looks huge.  We all cheered that Congress and the administration had come together on something.  I’m not knocking a few extra dollars in the pocket these days.  But, let’s get real.  Exactly what will $600 do for us? 

Most of us have suffered through the winter watching gas prices rise, bread and milk increase in price by 20% or more and heating bills… well, I don’t even want to mention those.  We have struggled since last December, some before then, and now that we can plant gardens, turn off the heat and entertain ourselves in the great outdoors.  It is predicted that some time in May we will be getting those stimulus checks. 

So, what will you do with the $600?  Pay the oil bill that you still owe from February or make a one time over the minimum payment on a credit card?  Or maybe, you will put that $600 with some of your own money and try to make up a house payment to keep the family put for another month or two.

That leads me to the question of the $10 billion or the $30 billion, or whatever amount.  How will it be used if it is approved?  Let’s get the breakdown. 

Looking at the McCain plan,

“I will consider any and all proposals based on their cost and benefits,” the certain GOPpresidential nominee, who has acknowledged in the past that the economy is not his strong suit, told local business leaders south of Los Angeles.

Grab a copy of Wealth of Nations.  That’s McCain’s economic background.  But, what about his approach?

“I have always been committed to the principle that it is not the duty of government to bail out and reward those who act irresponsibly, whether they are big banks or small borrowers,” McCain said. “Government assistance to the banking system should be based solely on preventing systemic risk that would endanger the entire financial system and the economy.”

We all know from the present administration that anything related to “small borrowers” is not systemic.  And, anything relating to the “banking system” always prevents ”systemic risk that would endanger the entire financial system and the economy.”  Looks more and more like John McCain is a George Bush clone. 

Perhaps, we are tired of hearing the billions being tossed around.  Let’s just get down to the “small borrowers”.  What exactly will any plan mean to them?  Of course, we all know that McBush’s plan means… $0.