Effor.com

Looks like Bush is looking for new ways to spend your money.  He’s already turned record surpluses into record deficits, he’s wasted billions on the “war against terror” on Iraq, and he’s stood by and done nothing while watching the biggest bubble in recent history grow to the bursting point.  Now this from:
http://money.cnn.com/2008/01/25/news/economy/preview_sotu/index.htm?postversion=2008012618

“Look for a pitch for tax-related provisions, such as opening the door for states to use tax-free bonds to help homeowners refinance out of unaffordable subprime [adjustable-rate mortgages],” said Jaret Seiberg, senior vice president at the Stanford Group, a Washington policy research firm.

So now Bush wants everyone to pay for the bad decisions of the idiots who bought more house than they could afford.  I guess he figures that if he can spend other people’s money (that he doesn’t have) why can’t everyone else? 

I’ve said it before, but you can’t borrow your way out of debt.  This plan would shift the existing debt burden to responsible taxpayers, which simply encourages more irresponsible behavior.  I think he’s just trying to postpone the inevitable crash until after he’s gone to protect his “legacy”- which will just make it that much worse.  

The same goes for his “stimulus” rebate package.  The only thing it’ll stimulate is more borrowing.  And I really want to know how it can be called a tax rebate plan if you give a rebate to people who don’t pay taxes….  Come again?

gk