Buying up mortgages?

@Bd200789 (2994)
United States
October 8, 2008 4:12pm CST
Last night at the debate John McCain announced a plan for the federal government to spend $300 billion to buy up bad mortgages. We just spent $700 billion on bailing out Wall Street. How can the country afford to do this? He says he doesn't want to raise taxes, but SOMEBODY will have to pay for this. Many conservatives are against McCain's plan. Do you think this is a good idea?
2 people like this
8 responses
@spalladino (17925)
• United States
9 Oct 08
I have the same questions you do so I don't know if it's a good idea but I can't see how it could be. Putting this country deeper in debt can't be good for the taxpayer. I think there has to be a little bit of a reality check when it comes to real estate, too. People who were convinced that they could afford that huge house with an interest only, low interest rate adjustable rate mortgage still won't be able to afford it unless it's seriously devalued, which effects the entire neighborhood.
1 person likes this
9 Oct 08
Hi bd200789, If McCain says they would spend $700 billion that means they got more so why are we having this problems? where is the money comin from? Tamara
1 person likes this
• United States
8 Oct 08
Crap no! I don't agree with the bailout or rescue or whatever they aren't calling it. I don't want to bail out some idiot who bought a bunch of bad debts and now wants me to pay for them, if that's the case I'm lumping all my debt and bills into this "rescue" and I'm heading for the hills. Dumbama voted for this too because he's trying to buy as many votes as he can, what a way to spend 850 billion, talk about buying an election.
1 person likes this
@Thoroughrob (11750)
• United States
8 Oct 08
If we don't get some jobs in here, there will be no reason to buy anything. I don't know what the answer is.
1 person likes this
@ZephyrSun (7385)
• United States
8 Oct 08
As much as I would like for my mortgage to go down I don't think it's a good idea. I mean if the US government was operating on a surplus I could possibly understand this but, where in the heck is the money going to come from? Are we just going to print more without gold to back it up? That will put us worse off than we currently are. I'm not a conservative but, I could imagine that if they are against more government involvement then they would be against this but then again it is coming from their god so who knows.
1 person likes this
@stephcjh (32328)
• United States
8 Oct 08
Amen to that. I think they have money but they do not know how to use it or spend it. they keep taxing us for it. How do they know which ones are bad mortgages? Why do only a certain few get the help? They are ate up!
1 person likes this
@anniepa (27236)
• United States
9 Oct 08
Desperate people say and do desperate things and if anyone has ever been desperate I thin it's McCain and Palin right now! What will be next - you get a car...you get a car...YOU get a car...you ALL get a car??? (He's not bright enough to realize nobody can afford gas for all those care...lol! Annie
@Bd200789 (2994)
• United States
9 Oct 08
I can't believe the things they have been saying to try to get votes.
• United States
9 Oct 08
we can't afford this-but they pushed it through anyway like i knew they would,and the buck will be passed to us somehow,be sure of that.the thing i don't like is the people who caused it in the first place (banks overextending,etc..)are still in control and will probably do it again while we're still paying for it.