One depressing aspect of following the exploits of the American political class is that you rarely get to experience bold steps, great government programs, and direct resolutions of problems.
- The October 14, 2011 issue of The Week contained a story about the failed Federal government program on mortgage support and relief for struggling homeowners.
* Although funded with a billion dollars to help unemployed homeowners with their underwater mortgages, the program closed after a year with only half of its budget spent. Imagine that: a government program that did not spend all of its budget, you know that it must have been a bad program.
* A Dallas consumer credit counseling center helped more than 1,000 homeowners file the necessary paperwork, only to see about 80% of the needy homeowners get rejected by the program’s strict income guidelines, i.e. in order to get government help for mortgage relief as a result of the homeowners did not having a job, they needed to adhere to strong income requirements, which they could not because they often did not have a job.…




