Jason Welker
Blogger James Wexler summarizes McCain and Obama's strategies for dealing with America's housing crisis:
"Sen. Obama has suggested $10billion in government funding to help homeowners sell their homes of modify their loans to avoid bankruptcy or Foreclosure.
Sen. McCain feels like this is a bailout. He feels struggling homeowner and borrowers should share the responsibility and if helped should share equity (if there is a gain) with the lender and Federal Government.
Obama wants the government to lend money to struggling home owners. Money which usually comes in the form of higher taxes
McCain has pledged to eliminate (AMT ) taxes. A break that many Americans want (and need). However AMT tax cut with other extended tax cuts leaves less money for such help to home owners. Unless, other government programs are sacrificed. A move, most do not want."
economics housing prices recession fiscal policy
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