Obama's Unwelcome Mat

[Reason]

http://www.cato.org/pub_display.php?pub_id=14051

In his State of the Union address, President Obama let us know that he will be "sending this Congress a plan that gives every responsible homeowner the chance to save about $3,000 a year on their mortgage, by refinancing at historically low interest rates."

What he failed to tell us is that such a push would do nothing to turn around either the housing market or the broader economy. In fact, by continuing his trend of confusing redistribution of wealth with its creation, the effort will likely hurt both the economy and the housing market.

Read the rest @

http://www.cato.org/pub_display.php?pub_id=14051

[hazek]

"Obama's Unwelcome Mat" is something I'd never want because I don't want to protest the man in charge of a broken system but the system itself.