Congress voted today to extend the $8,000 tax credit for first time homebuyers, to extend unemployment benefits, and to provide tax refunds to companies losing money. It wasn't a controversial bill in the least. It passed the Senate 98-0 (and I don't think you could get a unamimous Senate vote on a bill that said it's November.) And of all the crazy wingnuts and teabaggers in the House, only 12 were vindictive enough to vote against this bipartisan and badly needed bill. One of those 12 was Tom McClintock.
McClintock's district is being hit hard by the economic mess. Its unemployement rate is among the worst in the country, recently over 20 percent, and still between 12 and 15 percent. It also has some of the worst foreclosure rates and depressed house prices in the country. Yet, when McClintock's constituents need his help, he turns his back on them.
Maybe if McClintock actually had any ties to the district he represents he would vote for the things his constituents need. But instead, he serves his masters at the Club for Growth.
This is going to be an anti-incumbent election – Brown vs. a career politician in McClintock could present a great match up.
Depressed home prices are a bad thing???
Why do so many of you loathe market corrections? Housing getting cheaper helps the poor and lower class yet you support government programs to keep them high???
If you get foreclosed on you have access to the best market of rental inventory in years and that foreclosed home becomes a bargain for a prudent saver. Win win!
I know market it is a four letter word to some of you but please let it work. Deflation helps the poorest immensely and that seems to be ost upon some of you.
Foreclosed houses are not just ‘market corrections they are families out of a home. They also represent a drop in revenue for localities.
Yes it means that new people with lower incomes and lower revenues can come in to a place, but the net to the community is still negative.