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GOP Platform: No Government Bailouts!

From the 2008 Republican Platform:

Economy – Rebuilding Homeownership

Homeownership remains key to creating an opportunity society. We support timely and carefully targeted aid to those hurt by the housing crisis so that affected individuals can have a chance to trade a burdensome mortgage for a manageable loan that reflects their home’s market value. At the same time, government action must not implicitly encourage anyone to borrow more than they can afford to repay. We support energetic federal investigation and, where appropriate, prosecution of criminal wrongdoing in the mortgage industry and investment sector. We do not support government bailouts of private institutions. Government interference in the markets exacerbates problems in the marketplace and causes the free market to take longer to correct itself. We believe in the free market as the best tool to sustained prosperity and opportunity for all. We encourage potential buyers to work in concert with the lending community to educate themselves about the responsibilities of purchasing a home, condo, or land.

Republican policy aims to make owning a home more accessible through enforcement of open housing laws, voucher programs, urban homesteading and – what is most important – a strong economy with low interest rates. Because affordable housing is in the national interest, any simplified tax system should continue to encourage homeownership, recognizing the tremendous social value that the home mortgage interest deduction has had for decades. In addition, sound housing policy should recognize the needs of renters so that apartments and multi-family homes remain important components of the housing stock.

Sigh.

This article was posted by Steve on Saturday, October 4th, 2008. Comments are currently closed.

3 Responses to “GOP Platform: No Government Bailouts!”

  1. U NO HOO says:

    “Homeownership remains key to creating an opportunity society…In addition, sound housing policy should recognize the needs of renters so that apartments and multi-family homes remain important components of the housing stock.”

    So, do we want people to own or rent their living spaces?

    How about this, we let the people decide.

  2. gipper says:

    Watch out. With all of the foreclosures, people will be flocking to apartments or rental homes. Then, Democrats will pass all sorts of laws in favor of tenants (e.g. a fair rent law, eviction restrictions, creation of tenant courts). The “evil, greedy” landlords will, in turn, go bankrupt. Real estate values will be even less than they are now. Ta-da! A renter’s crisis is created. Congress will feel the need to fix this, so they’ll create a bailout bill where they throw $1.4 trillion away. The bill will be loaded with pork like support for fish exports from Guam or funding a study for how many licks it takes to get to the center of a Tootsie Pop.

  3. DGC says:

    Ya, right. Repub platform. Until they (along with the Dems) can load it up with pork.

    Disaster in the country? There’s a politician to blame. This isn’t a gov’t BY the people. It’s the best gov’t money can buy.

    I DO NOT want a bailout. They rolled the dice, they lost. Tough shit. Let them all leap out of windows & take the pols with them.


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