Barack Obama`s Savior-Based Economy


President Obama is back in messianic campaign mode. It
is unbecoming. When he`s not snarling at conservative
opponents of his endless spending programs, he`s
pandering to supporters as the nation`s community
organizer-in-chief.

At a stimulus rally in
Ft. Myers
,
Fla.
, on Tuesday, a woman named
Henrietta Hughes stood up to decry the mortgage crisis
and ask Obama for his personal help. Choking back tears,
she
implored
: "I have an urgent need. … We need a home, our own kitchen, our own
bathroom."

If she had more time, she probably would have remembered
to ask Obama to fill up her gas tank, too. The
soul-fixer dutifully asked her name, gave her a hug and
ordered his staff to meet with her. Supporters cried,
"Amen!" and "Yes!" A
young McDonald`s worker named Julio Osegueda bolted out
of his seat and

exclaimed
:
"It is such a blessing to see you. Oh! Gracious God,
thank you so much! Ungh!"

The event turned into a full-blown revival meeting when
Obama announced that the Senate had passed his massive
stimulus plan. Audience members erupted into applause.
Tongues of fire descended from the sky. Loaves and
fishes (or rather, pork and Kool-Aid) multiplied
miraculously into trillions for all.

GOP Gov.
Mark
Sanford
of South Carolina didn`t
know how right he was when he warned over the weekend:

"We`re moving precipitously close to what I would call a
savior-based economy."

Like
Mighty Mouse
, President Obama is

here to save the day
. The government is here to
help—and it is your patriotic duty to pay for it all
without preconditions. Hughes didn`t explain the

cause
of her financial turmoil. Obama didn`t ask.
And if we conservatives dare to

question the circumstances
—and the underlying
assumption that it is government`s (that is, taxpayers`)
role to bail her out—we`ll be

lambasted
as cruel haters of the downtrodden.

Woe unto ye unbelievers in Big Government who cling to
what Obama derided as
"ideological
rigidity
."

Well, pardon my unbending belief in fairness and
personal responsibility, but why should my tax dollars
go to feed the housing entitlement beast? At his
fear-mongering press conference Monday night, Obama
lamented that homeowners
"are
seeing their property values decline."

Countrywide crony Sen. Chris Dodd successfully stuffed
$50 billion into the just-passed stimulus package for
Treasury Secretary Tim Geithner to spend on
"mandatory loan modifications" for homeowners deep underwater on
their mortgages. That`s in addition to the $20 billion
already allocated by the House last month for the same
purposes.

Banks have been engaged in these
"Mo Mod"
programs over the past year. Democrats want to
accelerate the pace and use the power of government to
essentially provide a blanket amnesty for borrowers and
lenders who made bad financial decisions. Yes, there are
many responsible borrowers out there having trouble
negotiating loan modifications. But this $50 billion
giveaway to the banks—on top of the upward of $2
trillion more from the Treasury department, on top of
the $700 billion in original
"TARP"
funding—is throwing more bad money after bad.

This massive expansion of government meddling in the
housing market—yet another attempt to get federal
bureaucrats in the business of rewriting loan contracts
and reducing principal—will just delay the inevitable. A
report released by the Comptroller of the Currency in
December showed that more than half of loans modified in
the first quarter of 2008 fell 30 days delinquent within
six months. And after six months, 35 percent of people
were 60 or more days behind on their payments.

Where`s the fairness in forcing prudent homeowners and
renters to subsidize people who bought overpriced houses
and rescue the banks that lent to them?

Tellingly, Obama chose
Ft.
Myers
to drum up support for his wealth
redistributionism. The area has been one of the
hardest hit by foreclosures,
as the president was
quick to point out.

But many of those homes are
second or third homes and investment properties
. And
low housing prices are not a catastrophe for everyone.
They`ve created opportunities for Americans who haven`t
been able to buy in an artificially inflated market. The
median sales price of a home in the
Ft.

Myers
area fell 50 percent
to $106,900, from $215,200 in December 2007.
Bargain-priced home sales are up 146 percent from a year
ago.

It`s sacrilegious to say it in the Age of Obama, but it
needs to be said: Home ownership is not an entitlement.
Credit is not a civil right. Your property-value
preservation is not my problem.

Can I get an
"Amen!"
?

COPYRIGHT

CREATORS SYNDICATE, INC
.

Michelle Malkin [email
her] is author of

Invasion: How America Still Welcomes Terrorists,
Criminals, and Other Foreign Menaces to Our Shores
.
Click

here
for Peter Brimelow`s review. Click

here
for Michelle Malkin`s website.
Michelle Malkin`s latest book is "
Unhinged:
Exposing Liberals Gone Wild.
"