I would rather be exposed to the inconveniences attending too much liberty than to those attending too small a degree of it.

- Thomas Jefferson

Your Government to the Rescue!

Treasury Secretary Henry Paulson said Monday that an agreement was near on a proposal to help thousands of at-risk homeowners avoid foreclosures by temporarily freezing their mortgage rates. [Read]

The government will once again do what it can to help those who have made poor decisions at the expense of those who have been responsible. And, like all such programs, the problems caused by the poor decisions are now going to be compounded by the government's involvement. The mortgage market will take longer to correct; the housing woes will be protracted; and, the cost to society will burden us all--at least they demonstrated their care, right?

Here is a simple question: When you face difficulty would you like to confront all of the ugliness quickly and move on or relish in the misery? The government has decided you must relish, and is guaranteeing a protracted downturn in the economy.

P.S. Will anyone ask the candidates about this?

posted at 13:06:02 on 12/03/07 by clearpolitics - Category: Economics - [Permalink]

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