The Foundation
“Entrepreneurs and their small enterprises are responsible for almost all the economic growth in the United States.” – Ronald Reagan
Conservative Talk: What did they say?
Michael Barone | Tea Partiers Embrace Liberty, Not Big Government
Over the past 14 months, our political debate has been transformed into an argument between the heirs of two fundamental schools of political thought, the Founders and the Progressives. The Founders stood for the expansion of liberty and the Progressives for the expansion of government.
It’s an argument that has been going on for a century but was largely dormant over the quarter-century of low-inflation economic growth that followed the Ronald Reagan tax cuts. It’s been raised again by the expand-government policies of the Obama administration and Democratic congressional leaders. Read the entire article HERE.
Lawrence Kudlow | Lower Prices and More Foreclosures Will Solve Housing
With everybody focused on Obamacare, and its new entitlement spending and taxing, the administration has tried to sneak in yet another bailout for housing. Yet again, Team Obama is rewarding reckless behavior, punishing the 90 percent of responsible homeowners who are making good on their mortgages, and setting up a greater moral hazard that will surely lead to an expansion of bailout nation.
I’m talking about an add-on to HAMP, the $75 billion Home Affordable Modification Program, which has been a dismal failure. In fact, the entire foreclosure-prevention effort — including forgiveness of mortgage-loan principal — has been a failure.
The Office of the Comptroller of the Currency reports that nearly 60 percent of modified mortgages re-default within a year. And now comes a new brilliant idea that if you live in your main residence, have a mortgage balance of less than $729,750, owe monthly mortgage payments that are not affordable (meaning greater than 31 percent of income) and demonstrate a financial hardship, the government will subsidize you by offering TARP money to banks and other lenders to reduce your outstanding mortgage balance. Read the entirre article HERE.
