Ahh, yes. With a correction in housing prices badly needed, and prices sky high in colleges, where, due to things like Pell Grants, the gubment has prompted far too many kids to go to school, the Obama Administration now plans on skirting Congress and acting through already-existing federal agencies to re-finance home loans at lower interest rates (thus stealing from the banks or taxpayers who gave the original loans) and increasing the number of people who get handouts for college.

Let's face it, housing prices need to drop. Because of federal policies going back thirty years, because of the gubment's creation of Fannie Mae and Freddie Mac, and because of the Federal Reserve (which doesn't really HAVE anything on reserve), far too many houses were built, and people who couldn't afford mortgages got them. Those people who cannot pay should lose the homes, the prices should drop to more closely relect their values, and the people owed money and people who can use the homes at lower prices should be able to move into the market. But the gubment won't allow that. Instead, it defrauds those owed money and the taxpayers by REFINANCING mortgages? Bad mojo, man.

And then there's college. People seem to wonder about why college prices are so high. The vast majority of Americans blithely disregard the massive amounts of subsidies the gubment has handed to potential college students, thus increasing demand. In a proper economy, people who want to go to college would approach a bank or private investor, and would have to show that potential investor how much promise he or she as a student had, what the prospects for pay back with interest looked like. Now, the government instills in people this grand mythology that everyone should go to college, and that everyone DESERVES to go to college. No one in government can tell anyone if anything or anyone is deserving of money, because only those with the money have the ability to place a value on it, and only those people with the money have the moral prerogative to place the value on it.

And don't forget, even IF Congress were to be the area of gubment to initiate this action, it would STILL be unconstitutional. Simply put, this kind of spending power is not given to any branch of the federal gubment.

Here is the news piece!

http://www.reuters.com/article/2011/10/24/us-obama-economy-idUSTRE79N0J9...

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