“Today, default/delinquency/foreclosure rates continue to skyrocket and soon there will be more prime mortgages in arrears than subprime ones. More than 25% of all homes are now ‘under water.’ Millions more families are at risk. Foreclosures continue to rise. The housing crisis at the center of the financial crisis has not been ‘fixed.’”
Continue to think about that figure: “25% of all homes.” In this (undeniable) Second Depression, what would happen to the individuals and families in those homes if they were hit with an additional (Mandatory) Monthly BILL? If 14 million are headed to (or already on) the streets now because of this (ENRONesqued) crisis, how many more millions might end up there because of an Individual Mandate (without a “Robust” Public Option to compel meaningful competition on the private insurer monopolies)? Moreover, regarding the “new homeless” that are still working, how might they feel about not only getting run out of most public areas (“no camping”), but also having to face new IRS fines and “criminal” labels for not fulfilling their personal/family health care purchase responsibilities (8% of income / NOT A TAX)? : “Hey kids, we may not have a house or enough food to eat, but, at least we have the comfort of forced coverage by Blue Shield!!” Too fat? Canceled. Too skinny? Canceled. Homeless? We just increased your subprime premium by 189%. Why? Because there are special diseases out there for people who live like that (not enough showers), and simply, because we can. Petition your government for another subsidy, and we will be happy with the difference.
“These are the stock-in-trade tactics of the ‘power elite’ that C. Wright Mills wrote so poignantly about back in the 1950s.”
Again, Thank You, New Majority.