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US Is Giving a Bigger Bailout For Unemployed Homeowners
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US Is Giving a Bigger Bailout For Unemployed Homeowners

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US Is Giving a Bigger Bailout For Unemployed Homeowners

It was part of the recently signed financial reform bill, but today the Obama Administration announced it would be sending another $1 billion to unemployed borrowers to help them pay their mortgages.

More on CNBC...

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You mean hard working Americans are going to have even more of their money forcibly taken and have it sent to non-working Americans? That should do wonders for the economy. :P Better to just inflate the money supply so that we pay for it every time we spend... & that way the American people won't even realized they are getting screwed.

<rant>
Inflation is a tax, BTW. Most people assume it's normal for prices to rise. They believe that the cost of goods and service naturally gets more expensive with time. The truth is that in a society where the money supply is not inflated, prices do not generally rise. They can only fluctuate is response to supply and demand imbalances. So just looking at the last 100 years, about 6% of what we spend is on the actual cost of a good or service... 94% is "inflation tax" due to the govt. spending money that doesn't exist. There was zero inflation for the 100 year period prior to 1900, as the govt. was prohibited from counterfeiting.
</endrant>

Too bad the banks couldn't use any of the $544 billion of the people's money they were loaned to actually help the people. They were too busy spending it on cheap assets at the bottom of the market crash (that THEY created) so they could post those record profits.

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