The report neglects to mention the affect artificially low interest rates resulting from Bernanke’s ZIRP policy is having on interest income on the Trust Fund’s balance.

“Say you get a $50,000 principal reduction as part of the settlement. Without an extension of the Mortgage Forgiveness Debt Relief Act, you would have a tax bill in 2013 of as much as 35% on that $50,000 in “income.””

Point #1: Anyone in the 35% tax bracket can easily afford their mortgage payment and should not be getting a principal reduction.

Point #2: In so far as someone has actually been the victim of some kind of mortgage/foreclosure fraud I have no problem with them receiving compensation. I do have a problem with people getting a writedown simply because they stupidly overpaid for their houses, which from what I have seen, is most of those benefiting from this. I stupidly overpaid for some stocks during the dotcom bubble. No one has offered to reimburse me nor would I expect it.

“One problem is that the CFTC’s agency budget has been clipped over the past year making it difficult to implement anti-speculation rules.”

What does the budget have to do with creating new rules. It cost nothing to create rules. Once law, these rules would/should be enforced by the Justice Department.

I consider the current system to be corporate communism.

So you think it may be only the mandate which is thrown out with the remainder of the law left intact ?

Does anyone have any thoughts on the following:

1.) If the individual mandate is ruled unconstitutional, what is the probability of the entire thing being thrown out ?

and

2.) If only the mandate is thrown out what will be the affect of retaining the rest of the law ?

The ACA is such a cluster-f*ck I’m having difficulty sorting this out.

I’m amazed at how so many people look to the Fed for solutions to a problem the Fed had a major role in creating. The major cause of the housing bubble, and inevitable crash, was the Fed’s cheap, easy money policy. The same policy is responsible for the current bubble in the bond, stock, and commodity markets and played a major role in the NASDAQ bubble of 1999/2000. And yet, the answer is to continue more of the same. I’m also amazed how many progressives continue to support the front organization for the kleptocracy.

I don’t consider myself fortunate. I worked my ass off and failed many times but I kept going. You are right about the disease thing though, but, there are very, very few people in this country who owe their misfortune to disease or some physical/mental handicap. Ms. Fluke appears to be a spoiled child of the suburbs who thinks she is owed. It is her type I despise.

Yeah I was. My oldest brother got a college deferment and missed the worst of it. He served in the navy after and missed the fighting. I do feel sympathy for the people who were conscripted at gun point and sent to Vietnam. I know the options weren’t easy. I remember Walter Cronkite giving out the previous week’s death count every Thursday night on the evening news. I also have sympathy for people who were forced into the Iraqi military by Saddam Hussein. I just don’t see why I should have more concern for the former group simply because I was born in a geographic area over which the same government claims jurisdiction.

They do have my sympathy but they had other options. They could simply have refused to go.

No disagreement at all.

They fought THEIR wars for their own reasons. They did not do it for my family’s benefit or at my request. Most people in the military today either do it for career reasons or because they have Rambo fantasies. Those who truly believe they are protecting the freedom of Americans by killing Muslims in their own countries have pathetically succumbed to brainwashing.

Ivory Tower ? You’ve got me pegged totally wrong. I supported myself and paid by own way through college. My parents would have, as they did my two brothers, but I refused because I wanted to succeed on my own. I started my own business when I was 22 and have been at it since. I financed the business with money I earned working at menial, minimum wage jobs. I haven’t asked or accepted anything from anybody though there have been a lot of ups and downs. That is why I have such little sympathy for people like Ms. Fluke.

I do kind of agree with the second part of your post. Life is unfair and some people are born into/luck into good fortune. I just think modern liberalism encourages an entitlement mentality and many, many people game the system. I put bailed out bankers and executives of failed corporations at the top of the list.

No offense intended to you. I was responding to newcarbuy who implied that people who disagree with his views are selfish. Where am I wrong though ? Your belief in charity tells me you don’t think people should be responsible for their own situation in life.

It’s been nice talking with you. On the next thread the odds are we will be in agreement.

True conservatives are people who want to get what they earn and earn what they get. They expect others to do the same. That is why they are not liberals.

You have a higher opinion of homo sapiens than I do. Generally, when people say they can’t afford something they usually mean they would rather spend their money on something else. If you’re willing to assist someone whose situation you are unfamiliar with I commend you for that.

First of all I don’t think any private organization/individual should be forced to pay for someone else’s health insurance simply because they employ them, anymore than they should be forced to pay for their cable TV subscription. I’m a libertarian not a progressive. Regardless, if the employer is paying for the insurance I don’t see how the insured is paying for any of it. Wasn’t that the whole point of the Health Care Reform law, to force employers to cover their employees. If the employee is paying for part of it, he/she should be able to determine the coverage. That works both ways though. If the coverage is optional and affects the premium I have no problem with contraceptives or Viagra being covered.