610.) President Obama, has his sites set on saving the American Economy. When his second attempt at Kensyian economics was denied by the Senate, President Obama first insulted congress, blamed Republicans, when it was Democrat votes that brought the measure down, and now he has announced that he will use executive power to stimulate the economy without congress. there are several issues that must be addressed here.
The first is the plan itself. He plans on using executive power to work with Fannie May and Freddie Mac, the quasi government agency that created the housing crisis, to find ways to adjust morgate rates. Basically the plan involves allowing people to refinance their home, even if they have little to nothing down. Continueing the bail out state, removing consequences for ones actions. No mater what you hear, about preditory lending, evil bankers, the fact of the mater is that people bought those houses of their own free will. They didn’t do their home work. Now why I understand the pain there in, no good will come from preventing failure, and from making deals with the people who helped create this problem in the first place.