My grandfather knew how to solve an economic crises like this. So does my father. It’s quite simple.
QUIT SPENDING SO DAMN MUCH MONEY
People in this country have lived well – well beyond their means – for many years. That’s fine, if you can keep up the payments and live on your credit cards.
Fannie and Freddie are one thing – but this is yet another.
No one forced any of us to live off our credit card minimum payments. Americans have lived beyond their means for years. I’ve learned the heard way, you live beyond your means, you end up paying for it. (Why the heck do you think I kept the smaller condo and did not go out on a limb, and debt to buy the larger one that was in forclosure?).
You learn to live within your durn means.
Thing is – if individuals need to do that so do communities, cities, counties, states, and the Feds. If you can’t pay for it you don’t do it.
You cut the blasted programs that cost blasted money you don’t have.
Wow – what a bummer.
Nah, it will never work.