Deficit Record in February and Foreclosures Increase (Again): Obama Fiddles (with Health Care) While America Burns

Yes, the February Federal DEFICIT set a new RECORD of 220 BILLION dollars--beating the record of last February.


The deficit remains out of control. At the same time, FORECLOSURES rose 5%. Foreclosures are also out of control. Yes, the DISHONEST AP put out a dishonest headline on the foreclosure data. That headline said this was the smallest INCREASE in four years.


Why is that headline dishonest? First, at some point the INCREASE in foreclosures has to slow down because so many houses have ALREADY been foreclosed. However, that does ot even appear to be what is really going on here. If you read the actual AP story, instead of the headline and lead paragraph, you will see that "analysts" believe that most of those borrowers under "evaluation" for one Federal (or lender) "program" or another will eventually end up in foreclosure. Those various loan "modification" and "grace" period programs are DELAYING foreclosures. Therefore, the lesser percentage increase is more disturbing than not--since the INCREASE occurred despite all of these government and private programs presently stopping foreclosures that would ordinarily have occurred. In other words, MANY more people are not current on their loans, but actual foreclosure has been delayed (while analysts still believe most of these homes WILL go into foreclosure as time goes on).


While this is happening, what is Obama doing? Oh, you know this one. This is my "summary": "Obama fiddles with health care while America burns." (reference is to Roman Emperor Nero). You will recall that--even if the terrible bill is passed--the health care bill will not go into full effect for FOUR YEARS. Even if you believe me incorrect on how bad the present proposed bill is, ask yourself where we will be in FOUR YEARS (especially with the added uncertainty the process of implementing the massive health care bill will bring to the economy).