The key to Job Growth in America which we’ve finally been seeing the last few months. Since the 2008 “Great Recession” started, is to get Economic Growth. Strong Economic Growth and one way to make that happen. Is through strong Consumer Spending, people spending within in their means. But people having money to spend and with the Housing Crisis. With people drowning in debt that they’ve picked up. Since the worth of their homes have sunk under water. To the point that their homes are now worth less then the money they owe on them.
So of course people who are drowning in debt, aren’t going to feel comfortable. Going out and spending money, when they have to put so much money away. To pay their debts, so the way to get Consumer Spending going. Is through Debt Relief but do it in a responsible way. So we don’t add to the National Debt or bail out people who were irresponsible.
The way to bail people out who are drowning in debt for no fault of their own. Is to give them a Tax Credit for them to pay off their debts and so they can have money to spend. And we could pay for this, by taxing banks that took TARP money. But are now profitable and have been profitable by charging people fees, they can’t pay back.
These homeowners have no shot at paying off, the banks that ran themselves into the ground and then were bailed out. At Tax Payers expense and have them work with these homeowners. To refinance their debt, so they can actually pay it back.