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On Thursday (Feb 2), the Chief Nay-Sayer of the House, John Boehner, took to the airwaves for his latest condemnation of anything, anything at all that President Obama proposes to help America. This time, Boehner was talking down Obama's proposal to require banks to roll over mortgages so home-owners can take advantage of current low interest rates. Here's what Boehner said:
"All it does is delay the clearing of the market. As soon as the market clears and we understand where the prices really are -- [that] will be the most important thing we can do in order to improve home values around the country."
Setting aside for the moment that this is a bald-faced lie on it's face (It won't delay improvements in the housing market, and in fact, will help a lot.) we should analyze the interesting phrase:
clearing of the market
Just what do Republicans actually mean by that? It's a classic example of Republican doublespeak.
It actually means that Republicans want every homeowner that can possibly get foreclosed to hurry up and get it over with. They're saying to these homeowners, "Quit trying to hold onto your future. Just give up and move into an apartment, a cardboard box or whatever. Declare bankruptcy. Give your home back to the banks, already!!" But they try to make people think it means something else.
Keep in mind that President Obama's proposal would only apply to people who are currently paying on their mortgages. The only difference is that under Obama's proposal, people would get to keep more of their own money because they would have a lower, current market rate, mortgage. The Party of No wants the banks to get that money instead. These people are desperately trying to hang onto their homes. But the Party of No isn't interested in helping them.
Is it any wonder that banks and investment companies are funding Romney's campaign!!
