So this may surprise many people but I have some issues with the new stimulus package, which I agree is more of a spending bill than a stimulus package. I give much props to Obama for really jumping into the mess of the economy, but I think in his aim to be quick he has thrown many things that do not belong in a “stimulus” check.
My one complaint is this, how about some help for all of us that have been doing the right thing all along. I see this big $8,000 tax credit for people who buy a home this year. That is jazzy and all but how about us who bought a home in 2006-Now who are making our mortgage payments but who bought our homes before housing prices started to hit rock bottom. I have an issue with giving a credit to people who are already getting house at the lowest point in almost a decade. I figure their incentive to buy is the price of the houses now, the fact they can get a house that was 300k two years ago and now on the market for 200k. But no we need to give them more money.
What about me my dear President? How about us whose houses have dropped in value more than 1/3 of the price we paid, whose mortgages are for 60K+ what the value of our homes are. Those of us already at a decent interest rate and who are not at all defaulted on our mortgage but with further fall in the economy could lose a job and then really be in trouble. How do you help us to feel better? Maybe I am being a bit selfish but with all these billions of dollars floating around, nothing is helping me out, nothing.