Mortgage Bill

Oh boy:

The House yesterday approved an ambitious plan to rescue hundreds of thousands of homeowners at risk of foreclosure by helping them trade exotic loans with rapidly rising monthly payments for more affordable mortgages backed by the federal government.

Bucking a White House veto threat, 39 Republicans joined Democrats in supporting the bill, the centerpiece of a broader housing package that represents Washington's most aggressive response to the nation's housing crisis. The measure aims to unfreeze mortgage markets by expanding the Federal Housing Administration's reach and strengthening mortgage giants Fannie Mae and Freddie Mac. It also would create a $7,500 tax credit for first-time home buyers to try to boost sales and slow plummeting home prices.

So basically people like me who rent are being forced to help bail idiots who bought homes they can't afford, thus helping to ensure that such nonsense will be repeated in the future. It really helps to think of the government less as a means of preserving and promoting society and more of a piggy bank that everyone is trying to get their share of -- which is why we should be pushing for limited government.