An August Surprise from Obama?

Renae · Aug 5, 2010

Main Street may be about to get its own gigantic bailout. Rumors are running wild from Washington to Wall Street that the Obama administration is about to order government-controlled lenders Fannie Mae and Freddie Mac to forgive a portion of the mortgage debt of millions of Americans who owe more than what their homes are worth. An estimated 15 million U.S. mortgages – one in five – are underwater with negative equity of some $800 billion. Recall that on Christmas Eve 2009, the Treasury Department waived a $400 billion limit on financial assistance to Fannie and Freddie, pledging unlimited help. The actual vehicle for the bailout could be the Bush-era Home Affordable Refinance Program, or HARP, a sister program to Obama’s loan modification effort. HARP was just extended through June 30, 2011.

The move, if it happens, would be a stunning political and economic bombshell less than 100 days before a midterm election in which Democrats are currently expected to suffer massive, if not historic losses. The key date to watch is August 17 when the Treasury Department holds a much-hyped meeting on the future of Fannie and Freddie.

An August Surprise from Obama? | Analysis & Opinion |

But the real key part of this bribe for votes?

. Many in the White House thought the unemployment rate would be dropping sharply by this point in the recovery.

But that is not happening. What is happening is that the president’s approval ratings are continuing to erode, as are Democratic election polls. Democrats are in real danger of losing the House and almost losing the Senate. The mortgage Hail Mary would be a last-gasp effort to prevent this from happening and to save the Obama agenda. The political calculation is that the number of grateful Americans would be greater than those offended that they — and their children and their grandchildren — would be paying for someone else’s mortgage woes.

Obama's contemplating using the Federal Gov't to bribe voters to keep Dem's in power, the ultimate slushfund! (Yes, I'm aware both parties have done this to one extent or another for decades however, scale is what is important here people. Scale and the damage this could do).

MaggieD · Aug 5, 2010

MrVicchio said:
An August Surprise from Obama? | Analysis & Opinion |

But the real key part of this bribe for votes?

Obama's contemplating using the Federal Gov't to bribe voters to keep Dem's in power, the ultimate slushfund! (Yes, I'm aware both parties have done this to one extent or another for decades however, scale is what is important here people. Scale and the damage this could do).

If this is intended to be a bribe for votes, I doubt if it will work. It will anger as many people as it helps. The ones that help won't necessarily rush to polls and vote, but the ones who see it as a ridiculous reward will most certainly rush to the polls. The rabble-roused, in general, are more opt to vote "against" than the mollified are motivated to vote "for."

About the program itself? I just can't believe it. Outrageous. We already have a program in place to help people who are under water. ENUF already.

liblady · Aug 5, 2010

MrVicchio said:
An August Surprise from Obama? | Analysis & Opinion |

But the real key part of this bribe for votes?

Obama's contemplating using the Federal Gov't to bribe voters to keep Dem's in power, the ultimate slushfund! (Yes, I'm aware both parties have done this to one extent or another for decades however, scale is what is important here people. Scale and the damage this could do).

i have to think about this one.

VanceMack · Aug 5, 2010

MrVicchio said:
An August Surprise from Obama? | Analysis & Opinion |

But the real key part of this bribe for votes?

Obama's contemplating using the Federal Gov't to bribe voters to keep Dem's in power, the ultimate slushfund! (Yes, I'm aware both parties have done this to one extent or another for decades however, scale is what is important here people. Scale and the damage this could do).

I can see them talking about it but I doubt it will work or be carried out. Not enough cache in swinging voters. I think we will be far more likely to see them granting amnesty and voting rights to illegals and federally mandating restoring voting rights to felons.

liblady · Aug 5, 2010

VanceMack said:
I can see them talking about it but I doubt it will work or be carried out. Not enough cache in swinging voters. I think we will be far more likely to see them granting amnesty and voting rights to illegals and federally mandating restoring voting rights to felons.

why shouldn't felons who have served their time be able to vote?

danarhea · Aug 5, 2010

Damn, when I saw the words "August surprise", I thought Obama would be doing the antler dance, naked on the White House lawn. That would have been a surprise. This thread did not live up to it's billing. :mrgreen:

VanceMack · Aug 5, 2010

liblady said:
why shouldn't felons who have served their time be able to vote?

Oh...I dont know...something about a natural consequence of violating societies laws-losing voting rights and firearm ownership. Not my law really...but...something the states seem to feel strongly about...

VanceMack · Aug 5, 2010

danarhea said:
Damn, when I saw the words "August surprise", I thought Obama would be doing the antler dance, naked on the White House lawn. That would have been a surprise. This thread did not live up to it's billing. :mrgreen:

that might happen in 2012 with his approval ratings in the 20's...right now he's not THAT invested in things...its not his election on the line...

Crunch · Aug 5, 2010

liblady said:
why shouldn't felons who have served their time be able to vote?

Depends on which State they are in...

State Felon Voting Laws - Felon Voting - ProCon.org

Renae · Aug 5, 2010

liblady said:
why shouldn't felons who have served their time be able to vote?

Don't commit felonies. Sorry I support not giving voting rights to convicted felons. Call it added deterrence not to commit crimes.

Renae · Aug 5, 2010

danarhea said:
Damn, when I saw the words "August surprise", I thought Obama would be doing the antler dance, naked on the White House lawn. That would have been a surprise. This thread did not live up to it's billing. :mrgreen:

Gee, Dan not taking a thread seriously and posting off topic and inappropriately? Color me surprised.

jujuman13 · Aug 5, 2010

liblady said:
why shouldn't felons who have served their time be able to vote?

I too have often wondered why this should be so?

jujuman13 · Aug 5, 2010

MrVicchio said:
Don't commit felonies. Sorry I support not giving voting rights to convicted felons. Call it added deterrence not to commit crimes.

However if they have served whatever sentence they were given and have also behaved satifactorily during their probation period, would they still be prohibited from voting?

Renae · Aug 5, 2010

jujuman13 said:
However if they have served whatever sentence they were given and have also behaved satifactorily during their probation period, would they still be prohibited from voting?

Do you really want someone who committed a felony voting? I mean, let's be honest here. They are either too smart, or too stupid for their own good, and have a lack of judgment. Granted they "Served their time", they are still felons.

Would you let a child molester open a day care after he's served his time??

VanceMack · Aug 5, 2010

jujuman13 said:
I too have often wondered why this should be so?

I have often wondered why people of the liberal bent dont more often open these felons into their homes...invite them to hang out with their family and children...

I mean...I know why I dont...Ive WORKED with them...hell I actually even LIKE a lot of em...but I wouldnt let them near my family. All, some, or none...sorry...thats what ya call a "reality".

MaggieD · Aug 5, 2010

MrVicchio said:
Do you really want someone who committed a felony voting? I mean, let's be honest here. They are either too smart, or too stupid for their own good, and have a lack of judgment. Granted they "Served their time", they are still felons.

Would you let a child molester open a day care after he's served his time??

Oh, yeah, that's a great comparison. Even you must be laughin' your *** off. ;-)

Renae · Aug 5, 2010

MaggieD said:
Oh, yeah, that's a great comparison. Even you must be laughin' your *** off. ;-)

Actually, it was a rather valid comparison.

Voting is power, do you want to give Felon's power?

TurtleDude · Aug 5, 2010

liblady said:
why shouldn't felons who have served their time be able to vote?

do you think they should be able to own guns after doing their time?

MaggieD · Aug 5, 2010

Would you let a child molester open a day care after he's served his time??

Hmmmmmm, why do I fail to see a valid comparison?

Only 14 (not sure on this...conflicting info) states deny voting rights to felons who've served their time. Personally? I don't understand why they can't vote in all 52. Hahahahahaha. j/k, don't get all crazy on me. ;-) But, seriously, why shouldn't someone who's served his time be allowed to vote? I fail to see a connection. Served your time? Good as gold. 'Til next time.

Overview and Summary Losing the Vote: The Impact of Felony Disenfranchisement Laws in the United States

MaggieD · Aug 5, 2010

TurtleDude said:
do you think they should be able to own guns after doing their time?

Personally, I think their civil rights should be restored. Why should we abridge the civil rights of felons who've done their time? Give me a good reason, and I might change my mind...

If I remember correctly, Turtle, you're a staunch proponent of the right to bear arms. Why should one lose that right because of a drug conviction (example) that's been bought and paid for?

apdst · Aug 5, 2010

liblady said:
why shouldn't felons who have served their time be able to vote?

Because if there are enough of them, they can elect some real assholes into the government. This is one of those common sense things.

Renae · Aug 5, 2010

MaggieD said:
Hmmmmmm, why do I fail to see a valid comparison?

Only 14 (not sure on this...conflicting info) states deny voting rights to felons who've served their time. Personally? I don't understand why they can't vote in all 52. Hahahahahaha. j/k, don't get all crazy on me. ;-) But, seriously, why shouldn't someone who's served his time be allowed to vote? I fail to see a connection. Served your time? Good as gold. 'Til next time.

Overview and Summary Losing the Vote: The Impact of Felony Disenfranchisement Laws in the United States

So did the child molester, so you gonna take your kid to his day care?

TurtleDude · Aug 5, 2010

MaggieD said:
Personally, I think their civil rights should be restored. Why should we abridge the civil rights of felons who've done their time? Give me a good reason, and I might change my mind...

If I remember correctly, Turtle, you're a staunch proponent of the right to bear arms. Why should one lose that right because of a drug conviction (example) that's been bought and paid for?

I don't think people who are convicted of drug crimes should lose their rights because I don't think the government has any business banning drugs.

but to answer your question-I think those who are convicted of victimless crimes, non violent crimes etc should not lose the RKBA

I don't think any misdemeanor should be sufficient to strip someone of a constitutional right either.

Chappy · Aug 6, 2010

Excerpted from “An August Surprise from Obama?” By James Pethokoukis, “Political Risk,” Reuters, AUG 5, 2010 00:26 EDT
[SIZE="+2"]M[/SIZE]ain Street may be about to get its own gigantic bailout. Rumors are running wild from Washington to Wall Street that the Obama administration is about to order government-controlled lenders Fannie Mae and Freddie Mac to forgive a portion of the mortgage debt of millions of Americans who owe more than what their homes are worth. An estimated 15 million U.S. mortgages – one in five – are underwater with negative equity of some $800 billion. Recall that on Christmas Eve 2009, the Treasury Department waived a $400 billion limit on financial assistance to Fannie and Freddie, pledging unlimited help. The actual vehicle for the bailout could be the Bush-era Home Affordable Refinance Program, or HARP, a sister program to Obama’s loan modification effort. HARP was just extended through June 30, 2011.

The move, if it happens, would be a stunning political and economic bombshell less than 100 days before a midterm election in which Democrats are currently expected to suffer massive, if not historic losses. The key date to watch is August 17 when the Treasury Department holds a much-hyped meeting on the future of Fannie and Freddie. …

“The administration is not considering a change in policy in this area.” — Treasury spokesman Andrew Williams

Rumor or truth? Would this impact you? Millions of American homes are underwater.

Excerpted from “Negative Equity Breakdown” by CalculatedRisk on 7/31/2010 11:40:00 AM
[SIZE="+2"]A[/SIZE] few key points, as of Q1 2010:

There is almost $2.4 trillion mortgage debt for homes in negative equity.

The total negative equity is $771 billion.

There are 4.1 million homeowners with more than 50% negative equity (they owe 50%+ more than their homes are worth).

And, remember this from the greatest hits of 2009?

“… How about this, president and new administration? Why don’t you put up a website to have people vote on the Internet as a referendum to see if we really want to subsidize the losers’ mortgages; or would we like to at least buy cars and buy houses in foreclosure and give them to people that might have a chance to actually prosper down the road, and reward people that could carry the water instead of drink the water?

“How many of you people want to pay for your neighbor’s mortgage that has an extra bathroom and can’t pay their bills? Raise their hand.

“… We’re thinking of having a Chicago tea party in July. All you capitalists that want to show up to Lake Michigan, I’m gonna start organizing.”

— Rick Santelli, CNBC, Feb. 19 2009

MaggieD · Aug 6, 2010

TurtleDude said:
I don't think people who are convicted of drug crimes should lose their rights because I don't think the government has any business banning drugs.

but to answer your question-I think those who are convicted of victimless crimes, non violent crimes etc should not lose the RKBA

I don't think any misdemeanor should be sufficient to strip someone of a constitutional right either.

The nonviolent crimes caveat would fly with me okay. Misdemeanors? Yeah, I agree. I don't think that's an issue though. It's "convicted felons."

MrVicchio said:
So did the child molester, so you gonna take your kid to his day care?

Yikes! Go ahead, pick the one crime (pedophilia) that's a crime as well as an incurable addiction. That's not fair. ;-) To answer your question, "Uhhhhhhh, hmmmmmmm, no."

An August Surprise from Obama?

Renae

MaggieD

liblady

pirate lover

VanceMack

Less like the tiger...more like the lion.

liblady

pirate lover

danarhea

Slayer of the DP Newsbot

VanceMack

Less like the tiger...more like the lion.

VanceMack

Less like the tiger...more like the lion.

Crunch

Renae

Renae

jujuman13

jujuman13

Renae

VanceMack

Less like the tiger...more like the lion.

MaggieD

Renae

TurtleDude

warrior of the wetlands

MaggieD

MaggieD

apdst

Renae

TurtleDude

warrior of the wetlands

Chappy

User

MaggieD

An August Surprise from Obama?

pirate lover

Less like the tiger...more like the lion.

pirate lover

Slayer of the DP Newsbot

Less like the tiger...more like the lion.

Less like the tiger...more like the lion.

Less like the tiger...more like the lion.

warrior of the wetlands

warrior of the wetlands

User

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