Biden keeps suggesting he is a “moderate” Democrat. Yet, from the moment he entered office, he has pushed a far-left, socialist agenda. He’s been spending our tax dollars like there’s no tomorrow. His every decision (if he is really the one making decisions) has punished hard-working Americans and rewarded outsiders and people unwilling to work.
But his latest move was the most shocking yet.
Biden’s Federal Housing Agency is pushing a new rule that would hurt every homeowner doing the right thing. It would increase their mortgage payments to bail out folks who aren’t qualified to get a home loan. Biden wants Americans who did the right thing to pay more so people who will default on their loans and keep their houses. So now, twenty-seven states are fighting back.
State treasurers and other top finance officials from 27 states on Monday urged President Biden to end what they said was his “unconscionable” policy of forcing people with good credit scores to subsidize mortgage loans of higher-risk borrowers, and warned Biden’s plan would be a “disaster.” […]
“It amounts to a middle-class tax hike that will unfairly cost American families millions upon millions of dollars. And – at a time when the real estate market has already slowed considerably due to high interest rates – it will further depress home sales.” [Source: Fox Business]
Twenty-seven states have issued a rebuke against Biden’s latest socialist policy. Both Republicans and Democrats have come out against the most left-wing move to date. Biden is forcing Americans with good credit–because they worked hard and paid off their loans–to pay higher mortgage payments to bail out people with bad credit.
Biden will be robbing middle-class Americans and giving that money to high-risk borrowers, i.e.: people who can’t bother to pay off their credit cards, budget, or use their money wisely. Biden wants to punish Americans who did it the right way and reward people who refused.
This is the most shocking attempt at “redistributing” Americans’ wealth we’ve ever seen. Not even Comrade Obama tried this kind of stunt. Obviously, the socialists running Biden’s administration believe high-risk borrowers need help because they are “victims.” And Americans with good credit got it because they are “white supremacists.”
But many treasurers and top finance officers are condemning this move. It will only lead to “disaster” for the housing market. How much money does Biden intend to steal from Americans to bail out high-risk borrowers? It won’t take long before this system collapses, as Biden won’t be able to take enough money to pay for the houses of these losers.
And, in the process, he will be destroying hard-working Americans’ wealth and making it harder for people to buy their own homes.
Don’t be surprised if lawsuits erupt over this scheme.
Author: Kit Fargo