Calls grow for U.S. to bail out homeowners, prevent foreclosures
Proposals gain traction in Congress as the housing crisis roils the economy.
Proposals to shore up tottering home loans with taxpayer money are gaining traction in Congress and moving to the forefront of presidential politics.
"If we can extend a $30-billion lifeline to avoid a crisis for Wall Street banks, we should extend at least $30 billion in immediate assistance to at-risk communities and families facing foreclosure," Clinton's campaign said in a statement.
"If we can extend a $30-billion lifeline to avoid a crisis for Wall Street banks, or give away $30 billion in tax cuts to the rich, or throw away $30 billion every three months in Iraq, then we should extend at least $30 billion in immediate assistance to at-risk Indian communities and families whether they're facing foreclosure or some other financial hardship."
This news item suggests why I laugh whenever conservatives complain that Indians get welfare or the reservation system is a "failed experiment in socialism" (James Watt). If non-Indians are suffering economic hardship, they expect and demand the same kind of "handouts." And politicians rush to help them.
There's no difference between bailing out struggling non-Indians and struggling Indians. Oh, wait...there's one difference. We actually owe Indians government support because of the treaties they signed. We don't owe welfare-seeking non-Indians anything. Not legally, anyway.
For more on the subject, see The Myth of American Self-Reliance.