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Originally Posted by Guest
We do agree that many of those asking for loans simply cannot afford to own a house. We also can agree that the government is shifting this burden to taxpayers.
What is little talked about are those deeply underfunded public pensions plans . The liabilities are enormous and if responsible political leaders continue to do nothing they will again shift the burden to taxpayers
Personal Best Regards:
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Yes, it was Bill Clinton that started all of this with his "everyone should own a house." And then we ended up with those that were stupid enough to take out Adjustable rate mortgages and decided they no longer wanted their home when the worth of the home fell. They simply walked away from their obligation.