Even though the Congressional Budget Office (CBO) found that a stunning 35 percent of the loans refinanced through the bailout program will eventually default anyway. And banks will use the program to offload their “highest-risk loans” to the taxpayer. But, that’s apparently good enough for Congress.
Well, I have a question for the Government to ponder after they continue the bailouts. Where are you going to get the money after the defaults? Hmm…let me guess, you are going to raise taxes to the point where you are going to drive us into bankruptcy.
President Ronald Reagan once said, “The most terrifying words in the English language are: I’m from the government and I’m here to help.” It is sad but true, because every time the government wants to help, they do it through raising taxes or placing more restraints on the way I live my life.
