More Americans own their home than ever before. Nearly 70 percent of American's are homeowners. So it is a good time for us to asses the positive impacts of homeownership on families, communities and on the nation's economy.
quote by Randy Neugebauer
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We are shrinking the size of the federal government as a percent of our economy from over 21 percent of the economy to 19 percent of the economy. At the same time, we're growing the private economy.
quote by Franklin Raines
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We have been blessed with a healthy, growing economy, with more Americans going back to work, and with our Nation acting as a positive force for good in the world.
quote by Jim DeMint
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In fact, there are more homeowners today than ever before in the history of our Nation and more minority homeowners than ever before in the history of our Nation.
quote by Todd Tiahrt
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As you know, in this country Anglo-Americans are about 75 to 76 percent home ownership in this country, where Hispanics, African Americans are less than 50 percent.
quote by Alphonso Jackson
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A comprehensive national energy policy is critical to our nation's economy and our national security. Energy expenditures account for about 7% percent of our total economy and influence pricing in the much of the rest of the economy.
quote by Heather Wilson
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Today, our economy is divided: fifty percent is the public economy and fifty percent is the private economy that includes small companies employing from 4 to 200 workers.
quote by Ibrahim Rugova
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America needs every one of us to lend our energy, our talents, our ambition to making our nation better and stronger. I believe that with all my heart. That's why “Stronger Together” is not just a lesson from our history. It's not just a slogan for our campaign. It's a guiding principle for the country we've always been and the future we're going to build. A country where the economy works for everyone, not just those at the top. Where you can get a good job and send your kids to a good school, no matter what zip code you live in. A country where all our children can dream, and those dreams are within reach. Where families are strong… communities are safe… And yes, love trumps hate. That's the country we're fighting for. That's the future we're working toward.
quote by Hillary Clinton
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Most Americans are more concerned about the economy and job creation. And they can't understand why the Obama administration or the Democrat majority in Congress wants to pass a bill like the cap-and-trade tax that will cost us jobs, that will hurt our economy, that will drive up costs for families, as well as for small businesses.
quote by Haley Barbour
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It is our responsibility as Americans to provide for the families of those who have died to defend our nation. Raising the military death benefit is not a Democrat or Republican issue - it is an American issue.
quote by Brian Baird
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Spam & Eggs?
Middle class are now social dregs
Using food stamps instead of cash
Give up steak for spam & eggs
Soon may forage dumpster trash
ROTMS
Huffington Post
10/22/2010
“Lillie Gonzales does whatever it takes to provide for three ravenous sons who live under her roof. She grows her own vegetables at home on Kauai, runs her own small business and like a record 42 million other Americans, she relies on food stamps.
With more than 1 in 8 Americans now on food stamps, participation in the program has jumped about 70 percent from 26 million in May 2007, while the nation's unemployment rate rose from 4.3 percent to 9.2 percent through September of this year.
'We've seen a huge increase in participation due to the economic downturn, ' said Jean Daniel, a spokeswoman for the USDA's Food and Nutrition Service. 'That's the way this program was designed.'
poem by Ray Lucero
Submitted by Poetry Lover
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Everything depends on a good job - strong families, strong communities, the pursuit of the American dream, and a tax base to support schools for our kids and services for our seniors.
Our seniors have worked long and hard to better the economy, raise families and serve their communities. They deserve to live independent and active lives in their golden years.
quote by Christopher Dodd
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For students today, only 10 percent of children from working-class families graduate from college by the age of 24 as compared to 58 percent of upper-middle-class and wealthy families.
quote by Patrick J. Kennedy
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According to the Gallup Poll, 24 percent of American adults exercised regularly in 1961, and 50 percent after 1968. The peak was 59 percent in 1984, dropping off to 51 percent last September.
quote by Kenneth H. Cooper
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My top three priorities for my first term in Congress are growing our economy; providing for quality, affordable health care; and keeping our nation and communities safe.
quote by Cathy McMorris
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African Americans make up about 13 percent of the U.S. population but comprise 32 percent of patients treated for kidney failure, giving them a kidney failure rate that is 4.2 times greater than that of white Americans.
quote by Xavier Becerra
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We are here knowing that we are at an inflection point in the history of our world. We are at an inflection point in in the history of our nation. We are here because the American Dream and our American democracy are under attack and on the line like never before. We are here at this moment in time because we must answer a fundamental question: Who are we? Who are we as Americans? So, let’s answer that question. To the world. And each other. Right here. And, right now. … We can heal our nation. We can give our children the future they deserve. We can reclaim the American Dream for every single person in our country. We can restore America’s moral leadership on this planet. So let’s do this. And let’s do it together. And let's start now.
quote by Kamala Harris
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I will cut taxes - cut taxes - for 95 percent of all working families, because, in an economy like this, the last thing we should do is raise taxes on the middle class.
quote by Barack Obama
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It's a disgrace that we have millions of people who are uninsured, but at the same time too - in the eyes of the American people, in my judgment, it looked as if that somehow become more important than the main attack which was to fix the economy and get the Americans working again.
quote by Colin Powell
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Life in Paradise: 21st Century Style
2000-2001
The “dot com” bubble bursts
Recession
9/11/2001
America attacked!
Our way of life is threatened
Fear sets in
Financial institutions vulnerable!
Economy in a nose dive
What to do?
Everybody fly the flag from your home.
Save housing - Save the economy!
First, everybody needs a home.
The madness begins.
2002-2003
Create laws to increase minority homeownership
California gives birth to the ARMs* and NINJA** loans
Accounting irregularities at Fannie Mae (FNMA) & Freddie Mac (FDMAC) ***
Doors open for Wall Street to invest in Main Street
Without those pesky government regulations
Homeownership increases
...“After all ever since the Great Depression, home values have ALWAYS gone up
And everybody pays their mortgage ”…
WARNING! WARNING! DANGER! DANGER!
AREN”T HOME PRICES INCREASING FASTER THAN INCOME?
…...“No problem; it only takes a little creative mortgage financing and Wall St loves those high yielding mortgages…..
HIGHER RISK - HIGHER YIELD!
Pension funds love high yield.
Buy more and more....
…...“After all ever since the Great Depression, home values have ALWAYS gone up
And everybody pays their mortgage ”…..
WARNING! WARNING! DANGER! DANGER!
AREN”T PENSION FUNDS ONLY ALLOWED TO BUY AAA RATED INVESTMENTS?
...“Problem solved...banks pay the salaries at the Rating Agencies and Ratings Agencies in turn lower the standards to obtain a AAA rating”...
WARNING! WARNING! DANGER! DANGER!
WHO’S WATCHING THE “HEN HOUSE” WHO’S MINDING THE STORE?
...“Who cares?
Everyone is happy
Millions of new jobs created
Millions of new homeowners
Millions of dollars for bankers
Millions of dollars for Wall St
And everyone owns a home on Main St
Money is flowing
Everyone wins! ”…
WARNING! WARNING! DANGER! DANGER!
AREN”T HOMES BECOMING LESS AFFORDABLE?
2004 -2005
...“Pressure Government to create more creative loans and even lower down payments with even higher yields and make more bucks”…
A new mortgage is born, Euphemism: THE PAY OPTION NEGATIVE AM ARM Loan
...Easy to sell… You chose your own payment! You chose your interest rate! ...
WILL WALL ST BUY THESE LOANS?
….“You bet! Wall St loves these high yield mortgages. They package these loans as CDOs***** and sell them to Pension Funds, Municipalities, Foreign Governments etc
Spread the risk - Harvest the yield! …
Now Fannie Mae & Freddie Mac want back in on the action
...“After all ever since the Great Depression, home values have ALWAYS gone up
And everybody pays their mortgage ”
Everyone wins! …
The country is now infected with AFLUENZA
...“We need even more mortgages. Pressure Government to lower credit qualifications, raise borrowing limits, allow less equity positions. Let homeowners use their homes as ATMs+++”...
WARNING! WARNING! DANGER! DANGER!
WHERE IS THE SEC? WHERE IS THE FED? *****
...“Banks will police themselves” says the SEC
“Homeownership is up.
The Standard of Living is up
It is good” says the Fed...
...“After all ever since the Great Depression, home values have ALWAYS gone up
And everybody pays their mortgage ”...
CAN THIS LAST? WON”T HOMES PRICES HAVE TO COME DOWN OR INCOMES GO UP? .
2006 – 2007
Prices too high.
Average home unaffordable
Fewer home buyers.
Prices sinking
ARM’s resetting
Sub prime borrowers defaulting
Ninja loans failing.
Banks taking in less
Fewer dollars to lend
Layoffs beginning
Homes over-mortgaged
Appraising for much less
Equity gone
No equity - No sale
The downward spiral begins
Existing incomes static
Mortgage payments climbing
Homes losing value
Appraising lower
Jobs being lost
Unemployment rising
Banks failing
Wall St collapsing
Investment yields disappearing.
No way out!
2008 –2009
Elect a new administration with a RESCUE PLAN!
….“Spend more money Acquire more debt”….
WARNING! WARNING! DANGER! DANGER!
*ARM: Adjustable Rate Mortgage,
** NINJA loan: No Income, No Job or Assets
*** FNMA & FDMAC: Federal National Mortgage Corporation & Federal Home Loan Mortgage Corporation
**** CDO Collateral Debt Obligations
****** SEC: Securities & Exchange Commission & Federal Reserve System
+++ATM: Automated Teller Machine
poem by Nancy Chambers
Submitted by Poetry Lover
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