Tuesday, February 03, 2009

Senate GOP

Useless:
In the Capitol, Republicans said their goal was to change the bill, not to block it. "Nobody that I know of is trying to keep a package from passing," said Sen. Mitch McConnell of Kentucky, the Republican leader.

"We need to fix housing first," he said. Republicans are expected to seek a vote on their proposals this week as part of the debate on the overall stimulus measure.

Officials said the GOP was coalescing behind a proposal designed to give banks an incentive to make loans at rates currently estimated at 4 percent to 4.5 percent. Fannie Mae and Freddie Mac, which were seized by the federal government in September, would be required to purchase the mortgages once banks have made them to consumers.

Officials said loans to credit-worthy borrowers on primary residences with a mortgage of up to $625,000 would qualify, including those seeking to refinance their current loans.

Separately, Republican officials said they intended to press for a $15,000 tax credit for home buyers through the end of the year. Current law permits a $7,500 tax break and limits it to first-time home buyers.
You don't know whether to laugh or cry. These guys aren't interested in what's best for America or any real pain or sacrifice, they just want to find the easy way out and re-inflate the bubble.

It would be really cool if I could vote for a party that represents the Constitution and the free market.

Update: Thomas Sowell with similar thoughts.

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