Texas Rainmaker

Today, Barack Obama unveiled a plan to address the mortgage crisis:

TOLEDO, Ohio - Democrat Barack Obama proposed more immediate steps Monday to heal the nation’s ailing economy including a 90-day moratorium on home foreclosures at some banks and a two-year tax break for businesses that create new jobs.

For those of you keeping score at home, this means he’s introducing a plan that just this February he called “disastrous“:

Clinton’s solution is a 90-day moratorium for foreclosures on sub-prime occupied homes, and a five-year rate freeze on sub-prime adjustable rate mortgages. … In San Antonio on Tuesday, Obama said that Clinton’s foreclosure freeze was potentially “disastrous,” rewarding “people who made this problem worse” by benefiting banks that profit from high mortgage rates.

It’s not the only disaster he’s planning to unleash on America… but it’s the only one he’s been honest about so far.

Posted by TexasRainmaker |
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