Earlier this month after JP Morgan Chase Bank and Ally Financial Inc. put a halt to evictions of property owners in default on their mortgages after rumors surfaced in several states that alleged that bank officers/employees were signing documents that may have contained errors. Bank of America soon followed suit and halted all property seizures as well.

In a statement release by Bank of America this past Monday, "Our initial assessment findings show the basis for our foreclosure decisions is accurate."

"Although the Moratorium was short lived, it did have an impact on the Las Vegas housing market as it made potential buyers uneasy about home purchases and Title Companies a bit skittish about writing Title Insurance." according to Las Vegas Realtor Laura Arcuri of the Realty One Group.

Ms Arcuri went on to state "Although Nevada was not listed as one of the 23 states the effect of temporarily putting the brakes on any foreclosures will send ripples throughout the already devastated real estate industry and will delay a full recovery.”

What this Las Vegas Real Estate Veteran is referring to is the fact that in order for the market to stabilize foreclosures are a necessary evil. Home owners simply cannot remain in homes that they cannot or will not pay their mortgages.

"It was the Housing Sector driven by out of control politically initiated Sub-Prime and "Liar" loans that caused our current recession. The economy simply cannot recover until the real estate industry does. It is time to finish the healing process." according to Ms Laura Arcuri.

You would have to be blind not to notice all of the Commercial Real Estate vacancies here in Las Vegas. Driving through town with every turn and on almost every block we see vacancies for offices, retail and specialty stores.

What amazes me is that there is still new construction taking place on commercial property.

As we see more and more businesses closing every week the vacancy rate continues to climb. I can’t be the only one that sees this.

This will defiantly be the next big hit on the economy here locally. Why do the banks continue to loan for new commercial projects with such a high vacancy rate? Do they just assume that the Tax Payers will bail them out again?

Perhaps it is time to use some common sense and consider a moratorium on new construction permits. As much as I appall Government intervention into the private sector someone needs to display some leadership. I much prefer the idea of a moratorium on new construction permits than I do another round of bank bailouts.

I am not suggesting a moratorium on casino construction. That is an entirely different class of commercial property and I realize that casino operators are taking advantage of reduced building costs.

We have not yet recovered from the busting of the “Housing Bubble” and when the commercial sector implodes it will send shock waves through the economy unlike we have seen yet. The devastation will be compounding as it will cause even more businesses to fail. The difference between the “Housing Bubble” and the “Commercial Real Estate Bubble” is that the commercial sector has the potential of being more destructive to the economy.

Is this treat of the “Commercial Real Estate Bubble” a local phenomenon? No it is not. You can see similar rates of commercial vacancies nationally.

Do I believe a permit moratorium would stop the pending collapse of the commercial real estate market here? No I do not, but at least we could lessen the blow. Las Vegas Foreclosures already leads the nation in home foreclosures. Do we really want to lead the nation in commercial foreclosures too?

It is not a question of “if” the commercial real estate sector will collapse but “when?”.

For anyone looking to invest in Las Vegas now is certainly the time. Many investors from all over the nation and Canada are honing in on the “steals’ in real estate in the southern Nevada area. All around Las Vegas and many of the master planned communities in Summerlin, Rhodes Ranch and Henderson are seeing foreclosures, just like other places all over the United States. What this means for investors, is that these luxury homes are now selling for so much less than anyone can imagine. Investors, whether looking for long term or short term profit are flocking to the Las Vegas area in ensure they get a piece of this sought after real estate.

The housing market is steadily making a change for the better, which means that all the homes that are now in foreclosure are practically all gone. Yes, individuals and investors knew a good thing when they saw it and purchased these homes, which is helping the housing market here in Las Vegas, start recovering. The problem for investors is that if they do not get in now before all the Las Vegas foreclosures are gone, the inventory will be very low. Once the inventory is low, prices will rise as there will not be enough Las Vegas investment properties on the market for those looking to buy.

The bottom line in the housing market in Las Vegas is that inventory has decreased drastically the last couple of months, interest rates are still wonderful, and prices are so below the norm that you may faint at what you can get for your money.

At the time of this writing, Fannie Mae is offering a Non-Owner Occupancy loan for investors with terms of 10 percent down at 7 percent. The program is called HomePath, but there are only a few lenders that are registered with Fannie Mae to process these loans. You may not believe this, but all over Las Vegas, the median price for a home is $142,000 with many more at $100,000, meaning you can obtain a great rental property for only $10,000 down.

Investors that are serious about buying investment property at a great price and receiving more than they bargained for, should check out Las Vegas before all the properties are gone. Today, investors can find single-family homes, condos, townhouses, golf homes, luxury homes, and other properties that will surely put them in the profit column in a short amount of time.

Investors should talk with our Las Vegas Homes experts to learn all the possibilities available in the Las Vegas area. With a professional Las Vegas real estate Agent by your side, you will be able to find the Las Vegas investment property you desire and save money in the process.

Today, more and more Canadians are investing in Las Vegas property whether for a second home or for investment property. At one time, Canadians looked for homes and investment property in the state of Arizona; however, with prices of homes drastically lower than ever in the Las Vegas, many are now looking to buy in the Las Vegas area.

Canadians like other investors in the US are realizing that now is one of the best times to find a wide array of properties in the Las Vegas area at prices that are practically stealing the property. A matter of fact, finding awesome properties that at one time sold for $400,000 is now selling for $200,000, what investor in his right mind would not jump on the chance to buy investment property in Las Vegas.

For anyone looking to purchase investment property in Las Vegas including Canadians, you will need the expertise of a local real estate agent that will be able to show you all the communities in and around Las Vegas that are available. Some of these homes are in sought after communities such as Summerlin, Green Valley, Henderson, Lake Las Vegas, and Seven Hills, to name a few. Not only will an investor be able to choose the location of their rental properties but also the style the property they desire including ones on a golf course, age restricted, ranches, condos, townhouses, and gated communities.

As you look for your second home in Las Vegas, you will need an experienced Las Vegas Realtor that will be able to find the home that fits your lifestyle along with all the amenities you deserve. For any investment property search, you need a Las Vegas real estate agent with talented negotiating that will stay one-step ahead of your competitors. Owning investment property in Las Vegas is an excellent opportunity as many people have the desire to live in the area where they are quality educational opportunities, fun family activities, several employment options, and summer like weather year round.

Canadians are looking for property in Las Vegas for all of the above reasons. Dennis Smith, the president of Home Builders Research stated, “I think we are getting more Canadians than in the past simply because of the affordability,” …“I have been talking with some of the sales and marketing people of builders, and they tell me more Canadians are looking at properties.”

Smith went on to explain that the “median price of resale homes in Las Vegas in February was $145,000, which as stated by Smith numbers is down $10,000 from January and $90,000 from February 2008. That contrasts with the $120,000 median resale price in Phoenix.”

D.R. Horton a builder in the Las Vegas area stated, “Affordability has put Las Vegas back in the picture,”…“For a long time, I think, when (Canadians) think of Arizona, they think of desert and warm weather. When they think of Las Vegas, they think of casinos. They forget about the warm weather and desert.”

Tom Deinet, a Realtor with Century 21 Barrett stated that, “Properties are selling for half what it would cost to build them,”…“You will never see this again.”

By his own admission the President has not read the 1,000+ page legislation which has become a Washington DC trend. President Obama also blamed Republicans for attempting to block the bill. Now unless I have missed something the Democrats hold a 2-1 majority in the House of Congress and a 60-40 majority that is filibuster proof in the Senate. The President does not need a single Republican vote to get healthcare reform passed into law. So why more Republican bashing for the President that ran and won the presidency on “a new kind of politics in Washington” and, “change you can believe in”?

According to a July 16, 2009 article on Smart Money, “More than $1 trillion will be needed to pay for the Obama administration’s ambitious health-care reform plan. To come up with the money, the president has pledged to trim fat from the Medicare and Medicaid programs. But when all is said and done, it may be consumers who end up paying the price.”

So why would this information be on a real estate website that sells Las Vegas homes and other property here in the Valley? Simple, healthcare represents 1/6 of our economy and the government wants to take it over. The market for real estate in Las Vegas is just now beginning to see signs of recovery. If we hand over healthcare to our government you will see taxes skyrocket and small businesses forced out of business. Since small business employs 99% of Americans this will send shock waves through the private sector and add to the escalating unemployment rate. This bill will hurt the Las Vegas economy and tank the Las Vegas real estate market if it becomes law.

Michael Steel: Obama Healthcare is a Reckless Experiment

Record sales of single single-family Las Vegas homes, condominiums, and town homes were announced in June in Las Vegas. The record set back in June of 2004 was at 4,414, but now in 2009, the Greater Las Vegas Association of Realtors reported a new all time record of 4,702.

We hear how potential buyers are afraid to buy homes and just how many homes are sitting on the market, but then we see a report of record-breaking sales in Las Vegas, what is the real truth.

Realtors in the Las Vegas area sold 3,785 single-family homes during June, which is up 16.3% from May and a whopping 70% over June of 2008. Condos and town homes have tripled from sales last year at this time to 917 in June.

A decrease is now seen in the single family homes of 11.9%, bringing homes on the market to 20,613 and condos on the market is at 5,416 decreasing 2.2%.

Sue Naumann president of the Realtors association stated, “I think it’s significant that we sold a record number of homes last month… We’ve been closing in on this mark for a few months now.”

Single family homes in Las Vegas are at a median price of $140,000 which is the same as May. Condo prices are edging up a bit to $66,000.

Inventory in Las Vegas is a bit down and prices are going up or stabilizing which is good sign for the housing market across the US. Las Vegas was one of the first to feel the bubble burst and will be one of the first to see a change for the better.

Broker David Brownell of Keller Williams Realty stated that closings are up from last year as well as pending sales.

Broker and Team Leader for Realty ONE Group Konnel Peterson said, “Figures on closed real estate transactions for June 2009 signal that the market did reach bottom this spring and that Las Vegas real estate may well be on our way to recovery.”

Las Vegas is beginning to see buyers both investors and families, however, everyone is still a bit concerned about the future when it comes to job security. However, with housing prices going down and those wishing to buy a new home for an affordable price, this is a great time to buy. Many of the homes on the market today are foreclosures, which allows you to buy at a considerable lower price than the home is actually worth.

If you want to know how soon the housing market will rebound across the nation, keep a sharp eye on Las Vegas. As Las Vegas heals so, will other states.

The anxiously awaited launch of iJango takes place here in Las Vegas, Nevada on August 1, 2009 at the recently opened Encore Hotel. This revolutionary business allows the general public to capitalize on Internet traffic.

iJango Launches in Las Vegas

At the official launch of iJango in Las Vegas, the infant Internet Portal will reveal a new web 2.0 design and will then have the ability to register new customers. While Independent Representatives and Directors have been feverishly signing up, no customers will be allowed to participate until the official launch.

This innovative Internet business does not sell any products. Yes it is a form of Network Marketing program however customers simply do what they normally do on the Internet. So no, you don’t have to sell soap to Aunt Sara. Aunt Sara simply uses the iJango Internet Portal and does her usual surfing, emailing and Instant Messaging and you profit. Additionally, negotiations are ongoing to get your Aunt Sara discounts with many nationally known businesses on products and services she already uses. And what is the cost for Aunt Sara to use iJango you ask? Nothing, zero, zip, zilch, nada. iJango is 100% free for dear old Aunt Sara.

How iJango Works

So how do you as an Independent Representative or Director make money? The fact is that over the past decade advertising dollars for businesses have made a major shift to the Internet and away from conventional

media such as newspapers. We hear almost daily about major newspapers and other printed media failing or transitioning to digital media. Better known as the Internet.

According to The Business Insider, Google is poised to surpass the mammoth Microsoft in 2009.

Advertising income is responsible for most if not all of Google’s annual multi-billion dollar revenue stream according to The Industry Standard. Gross profit for Google exceeded $16 billion in 2008 with a phenomenal net profit exceeding $4.2 billion. Advertising dollars support other Internet Portals like Yahoo, MSN and Bing. These portals have revenue sharing programs that split revenue with website developers that carry these ads and content. This part of the equation is nothing new and has been going on for years. What is new is that iJango offers to build and host your portal for you. You don’t need to be a webmaster or Internet Guru to get in on this action. You simply promote YOUR portal and encourage users to continue to surf the Internet as they do anyway.

Summary

The comedian Dennis Miller recently stated on his syndicated radio program that he always seems to get in on Network Marketing programs “just in time for the Pyramid wrapping party”. It seems that most us do basically the same thing. We tend to get in too late to actually profit. Here is a business that you can get in on the ground floor. The iJango official launch of August 1st is still over two weeks away. This is your opportunity to be a part of something that almost everyone in the civilized world uses… the Internet.

If you are interested in attending the Official iJango Launch at the Encore Hotel here in Las Vegas, you MUST register soon. Space was limited and there were only 1,000 seats available so you need to RSVP to reserve your seat. And yes, I will see you there because iJango too!

Many so-called industry experts are quick to point the finger at the Bush Administration for failing to stop unrestrained sub-prime lending. What amazes me is that until we recognized what actually led to this economic disaster we have little, if any hope of recovering from it and stand a good chance of repeating it again, in the future.

The simple truth is that President Bush and his administration called for congress to enact stiffer regulations of Freddie Mac and Fannie Mae on multiple occasions dating all the way back to 2001 only to be blunted by stiff opposition from the Democrats. The liberal lending practices of Freddie Mac and Fannie Mae were supported by Democrat leaders in both houses of Congress and were forced upon many legitimate lenders with threats of withholding funds by the Treasury. Freddie Mac and Fannie Mae have long enjoyed the status of the Democrats “sacred cow” and still do, even after their mismanagement and lack of regulation was the catalyst for the Wall Street collapse in 2008.

For those that continue wagging the finger of blame at President Bush I would suggest a refresher course in Civics. Congress holds the purse strings and is responsible for legislation and regulation, not the Executive Branch. In the 2006 election, the Democrats seized control of both houses of Congress. Two years later, Wall Street imploded and Bush got the blame.

Congress continues to shoot the American Tax Payer in the foot with an accelerated liberal agenda. Mammoth legislation is passed without being read in an effort to sneak in legislation that has been on the liberal’s wish list for decades. Billions of dollars from the treasury are being hastily spent on projects such as Acorn and Planned Parenthood in the name of “Economic Stimulus”.

Has an emergency been created to enable the “Left” to enact long desired legislation, further a liberal agenda and feather their supporters nest with billions of tax payer dollars? And they have the nerve to blame Bush? Do they really think that all of us are that naive?

Now, the Obama Administration is stating that they are not ruling out another “Stimulus Bill”. We were told that the first stimulus package was hastily passed to avoid further economic woes and to keep unemployment under 9%. With unemployment now reaching 10% I think we can agree they failed. The $700 billion dollar Tarp Fund, the $787 billion dollar Stimulus Bill and the pork laden $410 billion Omnibus spending bill have seen little to no results in affecting the economy in a positive manner other than the economy of Obama and Democrat supporters. We did not keep GM or Chrysler from going bankrupt and we did not stabilize the housing industry and we did not keep unemployment in check. I have no doubt that a “Stimulus II” would have the same affect.

I also have no doubt that if the same events and actions were taken in the private sector, as we have witnessed from our government, the Attorney General would have launched a full blown investigation and the term “corruption” would flow through the liberal main stream media like a tidal wave. Tony Soprano could take lessons from our Commander in Chief and Congress.

Repairing the Economy

Enough of what hasn’t worked, let’s discuss what will work. It was the housing industry that led to Wall Street’s collapse in 2008. So that is where we need to start the repair work. The sub-prime lending fiasco in the real estate industry is only a small part of the current problem. An article on The Wall Street Journal’s website reiterated what I have stated for some time now, that the largest percentage of foreclosures (51%) are conventional (prime) loans, NOT sub-prime loans, where borrowers have negative equity in their homes and choose to walk away. This negative equity occurred due to home prices plummeting resulting in homeowners owing more on their homes than it currently appraises for.

Economists at the University of Chicago, Northwestern University and the European University Institute state that an estimated “26% of U.S. homeowners who stop paying their mortgage may be doing so intentionally, not because they can’t make the payments but because they don’t want to put money into a house that’s worth less than what they owe.”, according to a Times article.

With all of this said, it is obvious that the Obama administration is on the wrong track attempting to help homeowners afford their mortgage payments. However, last Wednesday’s announcement by Freddie Mac offering loan-to-value ratios on home mortgage refinancing of up to 125 percent for qualified borrowers does have some merit. Many homeowners that have seen their home value drop are unable to seek refinancing primarily due to the home’s inability to appraise for the existing mortgage. By increasing the loan-to-value ratio from 105 percent to 125 percent it will allow some distressed homeowners to reduce their mortgage payments. This will only affect a very small percentage of homeowners however.

California and Nevada are two of the hardest hit states, Las Vegas real estate was especially impacted negatively. Given the resilience of Las Vegas, we have started to see a modest recovery due in most part to the First Time Home Buyers Tax Credit and investors capitalizing on bargains.

What Our Government Can Do

Our Government must be completely honest with it’s’ citizens and let them know that the Calvary is NOT on the way. Let the free market work. If you are making $15 an hour and participated in a “liar loan” and were able to finance a $250,000 home, start packing. The government is not going to bail you out and let you stay in a home that you can not possibly afford. The longer we prolong the inevitable of foreclosures to homeowners that should never have received financing the more we negatively impact the values of homes owned by their neighbors.

Where our government can help is to financially back (insure) 4% – 30 year – Fixed Rate mortgages to qualified buyers. In addition, to housing values plummeting do to a lack of confidence in the economy, it is a simple supply and demand equation. By offering a government backed 4% – 30 year -Fixed Rate loan the supply of unsold homes would disappear virtually overnight and home values would begin to increase again.

Confidence: We must restore confidence in our economy to stop the downward spiral. A good first step is for Congress to act as good stewards of our money and stop spending like a bunch of drunken Sailors. Our government can stop trying to pass idiotic legislation like the Cap And Trade Bill that serves only special interest.

Education: Education is vital. Too many Americans think in short term only. This trend is growing every year. We have seen it with the stock market and the real estate industry. Real estate cycles but most homeowners do not understand this, when they are told they are upside-down in their home equity, they opt for the easy solution, to voluntarily walk away. We witnessed this with California real estate in the ‘90s and Louisiana in the ‘80s. Homeowners abandoned their homes only to see home values escalate well above their mortgages a couple of years later. Homeowners that stuck it out made substantial gains when they did sell in later years and retained their good credit. Homeownership is much like the stock market with its ups and downs. If you buy when the market is high and sell when it is down you will lose. On the other hand if you just hang on prices will eventually rise again. Paper losses are just that paper. And regardless of what the appraiser says about your home, you still need a place to live. Perhaps educational PSAs would be in order.

Summary

These are only a few suggestions to help put the economy back on track. To revitalize the sector that caused the Wall Street collapse in the first place…. Housing. Our government would have you believe that if you have a headache you should put a tourniquet on your leg. Why not treat the illness at the source?

These suggestions would not cost tax payers anything and will work unlike everything else the government has attempted.

A Democratic icon once said “it’s the economy stupid”. I say “it’s the Housing Sector stupid!”, that we need to fix. If we do this, the economy will start to recover faster than you can say “Term Limits”.

Once again President Obama proves he has no real concern for the housing industry by supporting the energy climate bill despite the fact procedurally the bill should have never been voted on inasmuch as a copy of the bill was NOT in the well of the House. How is this possible you ask? The bill was still being rewritten and no copies we available.

How is it that the Congress of the United States can vote 219-212 on a bill without reading it? While the main stream media kept reporting that House Speaker Nancy Pelosi and President Obama worked diligently to muster enough votes to pass the Waxman-Markey Bill, many reliable sources report Democrat Representatives were assessed and forced or excused to vote for the legislation based entirely on vulnerability for re-election in their prospective districts. This is a clear signal that even the Democrat Party understands the devastating effects on the American public.

This climate bill not only breaks President Obama’s pledge again of not raising taxes on individuals making less than $250,000 per year it will have disastrous effects on the economy and the housing industry. The “Cap and Trade” aspect of this legislation will cause utility rates to escalate for all Americans. The increase cost of doing business will be passed along to consumers on everything we use in our daily lives. Our fuel and gas costs will skyrocket. Businesses that can not justify passing on higher costs due to competition will either go out of business or move offshore. Either way this will have another negative impact on our economy and will defiantly add to our already swelling un-employment figures.

Country’s that experimented with this type of similar tax like Spain experienced devastating unemployment and abandoned it.

Affects on the Las Vegas Real Estate Market

Distressed home owners that can barley make their mortgage payments now will be forced to pay more for electric rates, gas and all goods and services they currently use. It is insane that our government would even consider raising taxes and costs on an already cash strapped citizenry.

There is also verbiage in the bill that forces homeowners to have an environmental inspection prior to being able to market their home. Windows, appliances and insulation will have to be inspected and approved by a government inspector and modifications would have to be made for compliance prior to the sale of your Las Vegas home.

Who Benefits from Cap and Trade?

Many Representatives in Congress and Senators have stock in “Green” companies and are the recipients of attention from numerous lobbyists. And let’s not forget former Vice President Al Gore who most certainly will become the first “Global Warming” Billionaire when his stocks and investments in currently worthless “Green” companies will literally be worth billions overnight. Now there is a real “Inconvenient Truth”.

CNBC, MSNBC and NBC have been avid backers of President Obama before and after the presidential campaign. Their parent company’s CEO of General Electric (NYSE:GE) Jeff Immelt has been an outspoken advocate of President Obama and his “Green Agenda”. General Electric stands to gain billions with a joint venture to handle carbon trades if the cap-and-trade bill becomes law. In an April 23, 2009 article on News Busters, author Jeff Poor sights Fox News Bill O’Reilly’s claims of corruption by GE promoting cap-and-trade for financial gain. “The level of corruption is so big, it stands to make Watergate look small.” according to Bill O’Reilly.

It seems as though everyone that supports this bill has a clear agenda and is in clear conflict with the interest of the common family in America or the health of the planet for that matter.

Obama promised change and that is one promise he seems to be intent on delivering. Change is all that will be left in our pockets if we don’t become active opponents to this trend of bigger government controlling every aspect of our lives.

Call Your Senator

Our only hope is that bill fails in the Senate. We must let every Senator know that we are against this bill in any form. Take the time to personally contact your Senators and tell them that American’s can not afford this nonsense and we will not tolerate their voting for stripping more income from us to split between special interest groups and the government. Let your Senators know that you will support their opposition in the next election cycle if they do decide to vote for this bill. And yes, that includes you Senator Harry Reid!

Get involved before it is too late Las Vegas and America. Call your Senators today.

The so called Stimulus Bill was printed in the early hours of Friday 13th then voted on by the House only hours later. That left no time for Representatives to read let alone study the largest spending package in American history. So much for your pledge of “transparency” President Obama. Although the American public did not support this stimulus package it was railroaded through by Obama, Reid and Pelosi.

The Stimulus Bill stimulates the size of Government and will do little to stimulate the economy and it won’t take long for Americans to realize that there were more political paybacks in this legislation than there were jobs.

The catalyst for the economic crisis was real estate. Unfortunately most measures that would address that like the $15,000 credit for home buyers were stripped in the final version.

This bill moves us closer to socialism and further from solving the economic crisis while it places more debit on our children and grandchildren. I would not have minded going further in debt if the money was earmarked for programs that would actually stimulate the economy and create economic stability. Unfortunately, this bill fails miserably in accomplishing either.

No Military Spending

What would have been beneficial in many ways would have been spending on military projects. The military has hundreds of projects that are awaiting funding that are needed for the protection of our troops and would enhance military preparedness however, there are NO provisions for spending any of the $787 Billion on our military. Maintenance, equipment upgrades, construction projects and equipment replacement are just a few things that are needed by our military and could create thousands of jobs in the private sector almost immediately. And what about a pay increase for our troops? Does anyone believe they are over paid? If the military were to get an across the board pay increase, would that not stimulate the economy? Of course it would. However our Commander-In-Chief (President Barrack Obama) has decided that Planned Parenthood and ACORN are more deserving of our tax dollars than the men and women of our military.

President Barrack Obama has not only turned his back on our military with this Stimulus Bill he has told the Pentagon that he expects them to reduce their budget by 10%.

Political Paybacks

Obama’s chief of staff, Rahm Emanuel, recently stated, "You never want a serious crisis to go to waste. And what I mean by that is an opportunity to do things you think you could not do before." And that is exactly what the Democrats are doing. We are witnessing decades of liberal wish list spending and pet projects getting funded in the name of “economic crisis” that would not normally stand a chance for funding on their own merits.

Sadly there are so many issues that could have been addressed that would have made a real impact. In that sense it was a wasted crisis.

Unfortunately the Trillion Dollar political payoff won’t be the end of it. President Obama, Senator Harry Reid and Speaker Nancy Pelosi will ask us for even more money this year. Why you ask? Because what they will spend in this bill and the programs they are spending them on will not fix or stimulate the economy.

Legacy

Yes I said it. President Obama has been in office less than thirty days and I dare to mention legacy. He has just pushed through a historical size bill in record time and now he clearly plans to waste the money on programs that simply will not work.

There is no doubt that the current Administration and the Democratic led Houses will continue to blame the previous Administration for the economic woes we face. The truth remains that this crisis was initiated by flawed real estate lending practices that were demanded by and protected by Democrats. Until we make an honest effort to correct the real problem in the economy we will not see improvement. The Administration would have you believe that when your roof is leaking all you need to do is replace the wet carpet. We all know better.

Despite the overwhelming public outcries to not pass this legislation, this bill will become law this week. While President Obama won a major political victory, he now owns the status of this economy. Too bad he is wasting our capital and his political capital to push liberal agendas when he could have been an American hero instead of a Liberal Hero.