I have worked up a budget bill that will guarantee that this country will not have to bailout any financial institutuions but it will bailout the unemployed. I will be present my bill in a day or two to my local congress and senate reprensative and hopefull it will be forward to President Barrack Obama to review and pass. He might think it will need tweeking which it might but it will benefit all working and unemployed americans in years to come. The bill i am proposing is a secret only because i do not want someone to steal my idea Remember President Kennedy, Ask not what your country can do for you but what you can do for your country. In somewhat at that time it was true but not now. We must do everything to ensure our survival as working and unemployed americans as we unite under a new president. The new phase shoud be: We the people to whom are united in the United States of America has called upon ourselves in all likes and forms to unite in to the survival of our country to protect current and future generations to come.
In seven days, the torch will be passed and the torch will always flickered as long we stand togeather and not defeat ourselves with self greed. To all whom who will read this blog. I called upon all americans on the day President Obama is sworned in: When night falls upon our nation regardless what time zone we are in. We should all light up a candle or shine a flashlight into the sky to show the world once again that we are united so that when all foreign satellites are passing over the United States on the night President Obama accepts. The world will know that the United States will be the light for Freedom and Peace.
God Bless President Obama, Vice President Joe Biden, and Secretary of state Hillary Clinton
You have asked for suggestions to repair the mess we’re in. It seems strange that nobody in Washington seems to remember what brought on the Great Depression and how FDR got us out. I was born in 1923 and was a recipient of the Harding-Coolidge-Hoover debacle in 1932. My father was a skilled radio technician who lost his job when RCA was allowed to gobble up Victor. My father walked many, many miles in search of any kind of work to feed his family. Finally, FDR came up with the WPA. My father was not too proud to apply his skill to the end of shovel for $50 a month with which my mother managed to feed a family of six. Not only did my father and others like him have employment but created something of use. Years later when we traveled that road my father would smile and say, “I built this road.” My suggestion to you is WPA.
Financial institutions must take responsibility for their role in causing the financial crisis and must now take steps to keep people in their homes. The government needs to take the lead in mortgage reform to put an end to deceptive lending practices. Banks cannot be trusted to regulate themselves. In the interim, here are a few ideas: Foreclosures: 1. Require financial institutions receiving bailout monies to renegotiate mortgage terms (fixed-rate only) of homeowners facing foreclosure. Afterall, many of these people shouldn't have been given a home loan in the first place! 2. Require lenders to rent foreclosed properties at a fair market rate until they can be sold. Consider renting certain properties to qualified applicants as a lease option to buy. This will help prevent further depreciation of home values and neighborhoods.
Mortgage reform: 1. Income verification must be obtained by lenders to ensure potential homebuyers don’t spend more that 35%-40% of their income on their mortgage. 2. Require lenders to provide all first-time homebuyers with a homebuyer education course when they apply for a home loan to ensure they understand the homebuying process and can afford their mortgage payments. 3. Adjustable-rate mortgage contracts must disclose potential increases in mortgage payments to avoid surprises.
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