Instead of $700 billion, why don’t we take a ground up approach to the foreclosure crisis for a mere $421 billion?* According to Foreclosure.com, there are 2,036,934 properties they show in some sort of distressed situation – “pre-foreclosure”, foreclosure, Sheriff’s sale, bankruptcies, and tax liens. As of August 16, 2008, the median home price was $206,500. For a mere $421 billion, the People’s Republic of the United States could own them all. There, I just saved the American people $279 billion. That’d be a great down payment on another war!
[*] Disclaimer: I don’t know any more about the economy than John McCain.
How about this for an idea: Obama calls McCain to suggest they privately agree on a set of principles and show leadership on the issue. McCain, after meeting with a billionaire heiress of some kind for a few hours, holds his own public press conference to announce he is suspending his campaign, and asking Obama to do the same. He also suggests cancelling the presidential debate on Friday.
What a desperate, reckless man. And to take Obama’s idea of cooperation, pivot unilaterally, and play pretend statesman shows once again this is not a man of honor. He has the instincts of a fighter pilot forever leaving his wingman, flying too low too fast, and going off without a map or (moral) compass.
Last week the fundamentals of the economy were strong. This week the economy ate his debate prep. The guy’s a loon. Over the rainbow. Coo coo for cocoa puffs.
Now Doug, you are thinking sensibly. Sensible people have no business running government.