Tuesday, June 22, 2010

No Surprise There

Some recent headlines should not surprise anyone.

"Borrowers Exit Troubled Obama Mortgage Program". More than one-third of those who enrolled in the $75-billion mortgage bailout program have dropped out--and will see their homes foreclosed upon. It turns out that the people who never should have been given mortgages in the first place never should have been give mortgage bailouts either. The problems include: refusal to turn in the paperwork required by the bailout program, the inability to meet even the lower payments negotiated with the banks and a lack of proof of income. I guess the only surprise here is that the dropout rate is only one-third--although analysts fully expect the vast majority of those enrolled in the program to still go into foreclosure because THEY CANNOT AFFORD TO OWN A HOME!!

"Republican Tax Cut Promises Pose Challenge". Independent budget observers believe plans proposed by both of the Gubernatorial candidates--to roll back the five-billion dollars in tax increases approved as part of the last budget cannot be achieved immediately. That would be true, if we continue to increase state spending by ten percent--which was also included in the last budget. I know the idea of actual spending cuts--not reductions in the amount of increases--is a foreign idea in Madison, but it can really be done.

"PETA Wants States to Charge BP With Animal Cruelty". You knew it was just a matter of time before the most media-attention-hungry group in the nation started jumping in front of the news cameras demanding their 15-minutes. PETA's argument is that BP is abusing animals, fish and birds by continuing to spill their oil in the Gulf of Mexico. Good thing for PETA the oil spill didn't take place in Wisconsin--where running over deer with snowmobiles is considered hunting under the law and not animal abuse.

"French Soccer Team Threatens to Quit World Cup". How can anyone be surprised--much less not bust a gut laughing--by the French walking away from a challenge? No wins in your first two games? Time to wave the white flag!! And neither of those games involved Germany. Bonus points for the country choosing a chicken as its mascot for the footballers as well.

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