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It sounds like the lesson here is that if you’re working your butt off and you still having trouble making those mortgage payments, you should lose your job — that way you’ll be able to keep your house (because everything’s ass-backwards in Obamaland):

The Obama administration said Thursday it would require lenders to allow unemployed homeowners to delay their monthly payments for up to a year without threat of foreclosure.

The announcement came a day after the president made a rare admission of a policy misstep, acknowledging that his policies have failed to provide enough support to struggling homeowners and recognize the scope of the nation’s housing crisis.

So true to form, their “solution” to this problem will do nothing but create more of the problem, and maybe that’s the whole point.

Notice that Obama’s only admission of a mistake isn’t for the Democrats’ policies that have crippled the economy, but only for forgetting to bring enough shammies to clean up the “unexpected” bloody aftermath from the victims of those policies. Truly amazing.

If Obama wants to admit a mistake, it should be for the cause, not his reaction to the effect.

Comments

10 Responses to “Obama Administration Admits Housing Policy Misstep; Failed to Correctly Predict How Disastrous Their Own Policies Would Be for the Economy”

  1. SignPainterGuy on July 7th, 2011 6:52 pm

    I just don`t understand it. My leaky boat is sinking faster and faster. It makes no sense, I`m bailing water into it as fast as I can. Maybe I need a bigger bucket !?

  2. zillaoftheresistance on July 7th, 2011 6:54 pm

    Well if they're going to do that, can I have husband quit his job next time they threaten to shut our electric & get that for free too? WTF? People who don't work have it easier than people who do! The price of just about every damned thing in the grocery store has basically doubled in the past year or so, but nobody around here is getting paid any more for their jobs that cost more fricken money every day to get to and from. I try not to hate people, but Captain WTF is making it really difficult! I wish I could speak Spanish because I'd show up at the Social Services office & pretend to be a criminal invader to get some free stuff! They don't even make you do paperwork AT ALL if you're an invader! I bet nobody tries to take their danged houses either.

  3. Marshall_Will on July 7th, 2011 7:08 pm

    "Later, he added that his administration’s efforts to help struggling homeowners were “not enough.”

    “And so we’re going back to the drawing board,” he said.

    The housing issue threatens to loom over Obama’s reelection campaign, with foreclosures piling up and real estate markets in turmoil in ***pivotal swing states such as Florida and Nevada, which voted for him in 2008***.

    Uh huh… If the "housing market didn't bottom as quickly as we expected" ( ever hear of the Case-Shiller Housing FUTURES Mr. pResident? ) They come out every MONTH you know?

  4. Marshall_Will on July 7th, 2011 7:14 pm

    Zilla,

    There's a famous Case Study ( well famous among financial planners anyway ) of a town in OH. It was a Steel-town, almost all Union. They went on strike and it lasted for years. All during the Strike, amazingly no one lost their homes!

    It was later revealed that due to the nature of personal finance, it wasn't until long AFTER that the cracks in the seams showed! The steelworkers were able to keep afloat from savings, tapping ret. accounts ( hitting up relatives ) etc.

    Then, once the strike was finally -settled- THAT is when the foreclosures started billowing in! Virtually everyone in the mkt. who's opinion I respect has said the Second Leg of the Housing Bust is SURE to be worse than the first. This will Obbie's Death Blow. Too bad it came at a dear price.

  5. Granny55 on July 8th, 2011 11:22 am

    O/T but in the same realm of government stupidity – this article from the home town rag.
    http://www.lansingstatejournal.com/article/201107

  6. backwoods on July 8th, 2011 12:34 pm

    If he understood how stuff really worked he wouldn't be a Democrat.

  7. Obama bin Biden on July 8th, 2011 12:52 pm

    great picture!!

  8. Dexter_Alarius on July 8th, 2011 1:04 pm

    "acknowledging that his policies have failed"

    This is where he should have stopped.

  9. SignPainterGuy on July 8th, 2011 1:10 pm

    Hah, it`s the computer`s fault; it does it automatically !

    You can bet that the giverment will spend lots`a dollars to get that 9 cents worth of tax you underpaid !

    My local rag is also a Gannett Publication . The website here is exactly the same layout / format . http://www.citizen-times.com

  10. SignPainterGuy on July 8th, 2011 1:14 pm

    No one would, unless it is carried by telepathic moosquitoes ! Mental disorder / disease and all !

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