Tag Archive: housing crisis market stock obama acorn mccain obama ba


We Are Moving!!!!! And Changing…

we are moving you can find our new blog here..http://americanindianteapartynation.wordpress.com/ or you can click the link in the right of this page!!! Don’t worry the only change that has been made is our name and new blog!!!
The name of our blog and group will now be

AMERICAN INDIAN TEA PARTY NATION


This is not a secret. I’m not revealing some great truth here. This has been known for a long time by a lot of people, including those whose job it was to report such things to you during the 2008 primaries and general election. However, they chose not to. They were afraid, afraid to be called a racist and afraid that their vision of a liberal utopia would be destroyed and a cranky old white man would get elected.

Obama’s past is littered with radicals and crazies who served as his mentors, advisors and pastors. His mind has been polluted by terrible ideas since boyhood. We shouldn’t be surprised at what we see today.

His youth in Hawaii was spent in an almost father-son relationship with an avowed communist, Frank Marshall Davis. Do you think Davis was teaching Obama about the greatness of America and the merits of dynamic capitalism?

For 22 years his pastor was Rev. Jeremiah Wright, a racist America-hater whose rantings caused the Obama campaign some minor embarrassment but little real trouble since the mainstream media refused to show the incendiary sermons that “damned” America. Obama claimed to have sat under his preaching for all those years yet never heard anything like what was found on the excerpts that surfaced during the campaign. Was Wright counseling the young Chicago politician in the inherent goodness of the American people and the exceptionalism that makes America a shining light in a dark world?

His neighbor and good friends were William Ayers and Bernardine Dohrn, unrepentant domestic terrorists who tried to kill cops and military personnel when protesting the Vietnam War. Many suspect that Ayers was the actual author of Obama’s first book and the puppetmaster behind the Obama’s rise in politics. What do you think Ayers and Dorhn love most about America and how they might have passed that love on to their community organizer neighbor Obama?

His wife Michelle proclaimed during the campaign that for the first time in her adult life she was proud of her country? What kind of twisted view of America has she contributed to the president?

Obama is the classic academic liberal, long on book knowledge and theory but lacking in practical experience. The books say how things should work in a liberal utopia, and the coffeehouse discussions explain how it will all work, but there is no practical evidence of truth based on actual experience. It’s all a pipe dream.

Obama has been raised to believe that America is not exceptional and a beacon of freedom and hope, but in fact is the source of most evil in the world today. America is an arrogant superpower and until she can be brought down to the level of the rest of the world we’ll never be able to solve global warming, bring peace throughout the nations, and live in a world where there are rainbows and unicorns for everyone.

To accomplish this America must be weakened. Our economic system must be damaged beyond repair, our military neutered, and our people subjugated by the government to ensure that no one prospers and starts thinking for themselves. Americans must be dependent on their government so America can take it’s rightful place among failing socialist democracies.

Americans must be taxed at levels designed to punish achievement and reward sloth. Those who achieve must be forced by regulation and threat to give their bounty away to those who have done nothing to earn it other than breathe and vote for Democrats. A minority of Americans must pay the bills for the majority. With 47% of households not paying ANY income tax, we’re getting very close to that liberal ideal.

Obama’s life-long hatred of America, developed and nurtured over the years by the radicals and crazies he was drawn to, is now being played out in real life. It’s no longer an academic exercise, but a real and growing tragedy for this country.

And it was all very predictable. Maybe if he hadn’t been a “clean and articulate” liberal black man who could give a good speech the media might have done its job and vetted him with the intensity they applied to Sarah Palin. Maybe they would have discovered his past full of lefties, loons and really dangerous people and would have reported it with the same earnestness they reported Palin’s daughter’s pregnancy.

Yeah, and maybe this is the week I’ll get my rainbows and unicorns.

Native Americans Against Obama Radio

http://www.blogtalkradio.com/naao

Native American Veterans Deserve Equal Treatment

I am just a Native American retired army veteran who has a story to tell. It concerns the taxes that most states deducted from the military pay of Indian Veterans. The story is not new but very few know of it. All these veterans deserve this money be returned.
The SSCRA of 1940 was a federal law put in place to protect all servicemen and their property from unfair and shady mistreatment while they wee away from their homes serving in the military.

A section of this act specifically prohibited states from imposing an income tax on the military wages of Native American Indian veterans if these veterans claimed Indian Lands as there homes when they joined up. Everyone knows that if Indians work and live on the reservations or tribal trust lands that they do not pay state and local taxes. The SSCRA states that Tribal veterans will be taxed as if they were still on tribal trust lands.

Even though this federal law was enacted in 1940 our relatives who served in the armed forces were illegally taxed by the state their tribe was located in. The SSCRA mentioned double taxation but DD 2058 ( state of legal residence certificate to determine the correct state of legal residence for purposes of withholding state income tax from military pay) was not available until 1977. This means that states were not only taxing military pay but double taxing in some cases. State governments run off of income taxes.

If a veteran happened to be stationed and earning wages in more than one state in a tax period they were undoubtedly taxed by all states involved. DD form 2058 was invented in 1977 to stop this illegal double taxation however their was no mention of the illegal taxation that states were deducting from the pay of Native American Indian veterans.

These tribal veterans by law were exempt from any state income tax because they did not lose their tribal trust taxation status simply by leaving the tribal lands to comply with military orders. A separate form DD 2058-2(specifically for Native Americans), was not introduced by the department of defense until July of 2002. This form when signed exempted Indian veterans from state income taxes .

Native American Veterans were always exempt from state income taxes through countless treaties with the United States government and the SSCRA of 1940.
A bill HR 5275 ,The Native American veteran Pay restoration Act ,was introduced into the 108th congress to correct this mistreatment and repay these veterans but it went nowhere and was never heard of again.

Simply by introducing this bill the government admits to this broken promise and illegal act .Thousands of veterans deserve that this money be returned.
The stimulus bill resolves a six-decade dispute over their U.S. service
By Amanda Ruggeri
Posted March 13, 2009
Tucked between allocations of $150 million to states for nursing home construction and $90 million for passport agencies, one provision in the 1,079-page federal stimulus bill has nothing to do with creating jobs—but it does settle a 63-year-old battle.

The provision compensates Filipino veterans of World War II, survivors now in their 80s and 90s, with lump-sum payments

of $15,000 if they are U.S. citizens or $9,000 if they are not. The cost, $198 million, doesn’t add to the bill’s total cost because the funds were appropriated last year. Still, some critics complain that this doesn’t belong in a stimulus bill and that the funds should go elsewhere. One better use of the money could have been for underfunded veterans’ programs, says Dennis Cullinan, legislative director of the Veterans of Foreign Wars.

The issue dates back to 1941, when the Philippines was under U.S. control. President Roosevelt conscripted members of the Philippine Army into the U.S. military to fight Japan. By the end of the war, as many as 430,000 Filipinos had fought under Gen. Douglas MacArthur, including 60,000 in the 80,000-soldier Bataan death march. In 1942, Congress recognized Filipinos’ service by promising them benefits equal to those of U.S. veterans. But that was reversed by the 1946 Rescission Act—some say for financial reasons, others say because of racism. “We made a promise, and then we did not carry it through,” says Democratic Rep. Bob Filner, who has fought for the compensation for 17 years.

One sentence in the 1946 act especially smarted: the claim that their service wasn’t “active.” Tell that to Amadeo Urbano. “We were so active in harassing these Japanese,” says the former guerrilla, now 85 and living in Arlington, Va. “But when victory was won, we were forgotten.”

Bills to provide full benefits have been introduced since 1989. All were defeated, including one last year. The one “small victory,” says Ben de Guzman of the National Alliance for Filipino Veterans Equity, was that Congress appropriated the $198 million to be released at a later date. Some opponents objected to paying nonnationals while programs for American veterans went underfunded.

Some cited concerns that the measure could open the door to other claims. Advocates counter that, of the soldiers of 67 nationalities who fought for the U.S. military in World War II, all but the Filipinos have received equitable benefits. Democratic Sen. Daniel Inouye, who sponsored the stimulus provision authorizing the funds’ release, doesn’t dispute one of the critics’ points. “This is not a stimulus proposal. It does not create jobs,” he said on the floor. “But the honor of the United States is what is involved.”

Some sacrifices were made to win passage. One was a clause saying acceptance of the payment constitutes “a complete release of any claim against the United States.” Another was disbursement as a lump sum, which totals far less than American-born counterparts received in monthly benefits over their lifetimes.

But more important, say many veterans, is at long last setting the historical record straight. The provision declares that their service time “is hereby recognized as active military service.” Says Urbano, “What is most important is our recognition—we are now considered veterans of the Second World War.”

Radio Show dates and times

Please join me for my radio show this and every friday at 2:30 mountain time. So thats 4:30 eastern.

  
Native Americans Against Obama is a non partisan group designed to inform others about Native American issues, and politics regarding reservations and american life in general. We have producted over 80 videos on youtube, reaarding poverty,homeless,unemployment, health care, socialism, the obama administration along with many other topics. We focus on helping reduce poverty on pine ridge, standing rock, and crow creek along with many others. We also deal with veterans issues.

Here is the link and call in number. http://www.blogtalkradio.com/naao

(646) 727-2432

Timepassages

NAAO
Native Americans Against Obama Founder

To help see the links below..

http://spadoman-roundcircle.blogspot.com/2009/04/real-reason-behind-crow-creek-ride.html

http://www.nativeamericannetroots.net/diary/330/obama-please-help-the-crow-creek-tribe

http://images.google.com/imgres?imgurl=http://www.nativevillage.org/Archives/2010%2520News%2520Archives/JAN%2520NEWS%25202010/not%2520for%2520sale.jpg&imgrefurl=http://www.nativevillage.org/Archives/2010%2520News%2520Archives/JAN%2520NEWS%25202010/Crow%2520Creek.htm&usg=__abNzXtdccUzR1_oURe_Xunfj9m8=&h=225&w=300&sz=27&hl=en&start=37&um=1&itbs=1&tbnid=0oEj72WJFiaDwM:&tbnh=87&tbnw=116&prev=/images%3Fq%3Dcrow%2Bcreek%2Bpoverty%26start%3D36%26um%3D1%26hl%3Den%26sa%3DN%26rlz%3D1T4DKUS_en___US366%26ndsp%3D18%26tbs%3Disch:1

http://images.google.com/imgres?imgurl=http://tc.indymedia.org/files/crowcreek-sign.jpg&imgrefurl=http://twincities.indymedia.org/2009/dec/call-action-crow-creek-land-not-sale&usg=__I5m_I2HKOG3oTVImcxJufUTaC-s=&h=271&w=511&sz=62&hl=en&start=54&um=1&itbs=1&tbnid=YpglhY3qTNOHJM:&tbnh=69&tbnw=131&prev=/images%3Fq%3Dcrow%2Bcreek%2Bindian%2Breservation%26start%3D36%26um%3D1%26hl%3Den%26sa%3DN%26rlz%3D1T4DKUS_en___US366%26ndsp%3D18%26tbs%3Disch:1

A Place we call home….

If any of you have not seen the videos below I encourage you to watch them. I am currently living in a hotel room. I need everyones help by emailing and calling the members of congress, and please feel free to spread this blog to anyone and everyone. I will start the story from the begining. ALmost 5 mnths ago, my husband lost his job, he became depressed and started to drink. There was a domestic violence incident, where he grabbed my arms. I was not injured, and did not need any medical attention. He was arrested and spent the night in jail. The next morning I talked to the da’s office, and advised them he needed help. That nothing like this had ever happened before. The judge agreed to lift a no contact order, providing he get treatment. He began treatment right away, and as fas as I know he is still in counseling. On Jan. 6th 2010, we went to court,I and my husband talked to the da, and his public defender.

We were told if he agreed to the plea bargin, we would not have to seperate. He agreed, and was given 1 year probation. I drove him straight to the probation dept, after court. He could not see his new probation officer that day, as she was busy. One week later, I recieved a phone call at my home and was told by his probation officer that I could not stay there.

I was told if I stayed in my own home, he would be arrested as she had made it a condition of his probation that we not live together. I told her I would be homeless, and had no job. Her best advise to me was to go to the homeless misson. I also told her the judge had lifted the no contact order, she then went on to say. “I don’t have to do what the judge says”. My husband was the only one working and if he left, I would lose my home as I cannot pay the bills with no job.

I also called my husbands public defender who assured me she would get this fixed within a matter of days. Needless to say, she never did. I called the da’s offfice and the told me they could not help me.

The probation office claimed I would not be allowed to go home, as it would be a liability to them if something happened to me. I explained I did not want a no contact order, and feel I did not need one. I offered to sign a wavier to release them from liabilitys, but they flattly refused.

I understand that no contact orders are needed by many people, but I don’t need one. It as been forced on me, and I have been forced out of my home. The local goverment has completly destroyed my life. This is a small situation, that snowballed into a very large ne. It just shows how much control they have over our lives. I really think the wild west is still alive and well in the state of Wyoming, as even as a victim I have no rights.

I am now living in a run down motel, and am not sure how long I will be able to stay. I had two hours notice from probation to leave my home, so I did not take alot of things with me. Thankflly Susan from my local tea party brought me cooking supplies and food.

I want to ensure everone I am in no danger by going home. I have written the judge called cngress and sent emails. The aclu, has refused to help me. So, please pass this blog and the two videos around. Also please write and email congress. The phone numbers and web sites to contact them are below.

I will keep everyne posted, as to what is going on, may the great spirt shine upon all of you.

Timepassages

please email http://barrasso.senate.gov/public/ and http://enzi.senate.gov/public/ it is docket number CR 2009-3065 heard on Jan 6 2010 in Natrona County. Or call 307-772-2451 for Barrasso’s office and Enzi’s office at (888) 250-1879

Reality

This is a guest writer for NAAO.    Thanks to the writer for allowing us to us his article. His name is rog mcleod.

 

I am a white man who is thougroughy disgusted by the treatment of American native people. Promises and tereaties have been broken fron the start. It follows through. It’s  been a long time since the natives of this country had a voice. Now is the time to voice yourselves! Like I said I am white but I am totally  disgusted on how my ancestors treated native Americans. My  ancestors were sneaky and underhanded people. I am the opposite of that. The US government has once again turned its back on you. In 1787 it was said that all native people would have free health care courtesy the government.  It has not come true. So for 220 years a promise or treaty has not come true. Native Americans living in the  USA have been shafted! Again! Native American people, stand tall and fight for what was promised to you 220 years ago! You have the right to do it. I will stand by you when you stand up! I am a white man but I know a bit about history and I understand the history and that’s why I will stand with you in victory!

sted

 

The research from this video, have been very dissapionting. The fact that Hillary and Bill were tied to Saul Aliskny came as a shick to me. But the truth must be told and I did that. I honeslty thought that the only good democrats in the past 100 years were FDR and The Clintons. Wilson, was the worst in years, but I was not prepared for this.

I have to admit, I am ashamed of my party, and myself for still being a democrat……

Native Americans Against Obama- Perfect Timing

It seems Obama is planning to push through his health care by July 31, 2009. The two videos below are examples of what all Americans Have to look forward to. We know all about socialized health care. The tribes, fight a continuous battle for money to provide health care for our people. We wait, and wait, and wait. If you want to see our future, look to our present. This should be a wake up call to all americans. Many of our people cannot get the dental care they need, due to goverment tie ups. And holding the purse strings of the tribes health care is the government. 

Our Health care depends on the money the government gives us.  So, in many cases, health care depends on money. 

I would like to share a story with you.  I did not write it, but it rings so true, and should open the eyes of all of you…

  Native American Site
Phyllis Doyle Burns
BellaOnline’s Native American Editor

g

Native American Health Care Not Good Enough!

Guest Author – Deborah Adams

They walked into the building. The long halls and no sense of direction did not help them to find what they were looking for.
Finally they located a room that looked promisiing. They walked in the room and probably 30 heads turned to stare at them. Still they weren’t sure where to go but finally found the reception desk…. Empty! They could hear people in the back talking but no one was there to wait on them. It took a while of standing there but finally a rude woman came and snapped at them. Asking them what they needed. It wasn’t long before she told them to follow her and took her to a tiny office the size of a small closet. The air was stuffy and there were two chairs for them to sit on in the stark small room. The receptionist demanded to know where their papers where explaining that they could not be seen without proof of their right to be there. That too many people tried to get in without proof.
This sounds like a chapter in a drama but it’s real life. This is the reception awaiting people at a Native American hospital close to my home. This is the reception people get when they try to get medical care in underfunded facilities. What else can we expect when things aren’t updated, funded and following guidelines? This is a serious problem. People aren’t being taken care of in a lot of these hospitals and clinics like they should be and it is time to do something! Now there are several really good facilites but they are the exception rather than the rule unfortunately. For many their just simply is a lack of the funding needed to take care of people as they should be.
If you are in an area that needs better health care, write to your tribal government and ask that the hospitals and clinics be looked at and updated. Ask that they request more funding for better services for you and your children.
Native Americans have the right to quality health care but aren’t getting it in many cases. This issue has been known for many years but things aren’t getting better at any speed. The difference between Native American clinics and hospitals and general hospitals and clinics is amazing. The waiting times for appointments are longer. The ability to do tests and proceedures is lacking and the care in some cases is also lacking because of the need for more doctors, funding, equipment and better facilities.
A great article to read for further information on this issue is here – http://www.metrotimes.com/editorial/story.asp?id=9067. It’s not because we have poor doctors, or poor receptionists. It’s because they are trying to provide what health care they can with what they have. And what they have is not enough. It’s not enough for your children, your parents, or my sister and neice whose experience I just wrote about. My neice is a registered member of the Choctaw Nation but the health care system was disappointing in their ability to take care of things. I hate to say this but it’s a reflection on the broken promises of the government. Unfortunately it’s something we’ve seen over and over but it’s time for people to write to their government. At least make their voices heard and not be a silent sufferer anymore.
According to the article listed above Native American’s expected life span is nearly five years less that the rest of the population of the United States. Absolutely NOT acceptable statistics! My voice will be heard but it takes many voices to get the attention that is needed to get things moving.
This is just my opinion on the state of health care for Native Americans today. You know what it’s like. I want us to all have the same life span, the quality health care and the promise of a better tomorrow for the children. Write to your government and tell them what you want.

For further help in locating your government officials the site below has contact information for all.
THE COMPLETE LIST OF E-MAIL ADDRESSES & FAX NUMBERS FOR CONGRESS, SENATE & GOVERNORS BY STATE http://www.conservativeusa.org/mega-cong.htm

This is the change we are getting!!!!

Thanks for the Change!

It is not often that I write a blog, that is a mere rant.  But today, things are different.  With the success of the tea parties, you would think I would be very happy.  But, it is anger and sadness that encompasses me.  On tax day I drove by our tea party, and hundreds filled the sidewalks holding signs. Young, old, women and men, of all ages held the signs high and shouted to the passing cars.  As a member of PUMA I should have been proud.  But as I drove by, the anger welled up inside me.  Anger toward all those who refused to listen to all of us, for so many months.  I wanted so badly to shout to them, “Where were you when it came time to vote!”  But, I didn’t, I guess I lacked the courage.  I am sure many felt the same as I did that day,

The jobs rating that came out today are only the beginning.  Many of you know I work in the mortgage industry.  For months now, I have had to explain to families, why none of the bailouts have helped them.  Each and every day, I sit across the table from customers who no longer have jobs.  The help I can offer? From the government, if you guessed none, you were right.  Don’t be fooled and think this is due to the Bush administration, that’s a full blown lie.

The state I live in, in run by Coal and Oil, and now the rigs have stopped pumping.  The railroad has laid off, there is no coal or oil to haul.  You see, the new Carbon Tax brought upon the industry, has forced them to laid off and stop drilling and mining.  I cannot tell you how sad it makes me to sit across the table from a young mother and her children and tell her, there’s nothing I can do.  So, passing the buck to the last administration, is a smoke screen for the sad truth.  You reap what you sow, and the seeds of the Obama administration  are growing.

I know the eastern part of American has been hit hard, but this is a situation where the entire country will and is suffering.  It is far to late to undo what is already done.  But, we can change the future, and change it we must.  When election time comes around, we must vote all out, and begin again.  That’s why the tea parties must continue, and we must tell all who will listen.  I wish I could tell those hundreds I talk to each month, who has lost their job, that they should have listen.  I would like to, but can’t do that.

Theses are not people who should not have gotten a mortgage, or could not afford it.  They had good jobs, in the Oil Field or the Coal Mine, or the Railroad, now they have nothing.

I have no words to help them, so I ask all those people who believed in “Hope” and “Change”, do you have anything you would like to say to all these people?

Tonight I write out of anger, over the past two years I have warned about what was to come, well the future is here.   As Americans we know all to well that freedom is not free. 

I have always been opossed to Socialism,and know what it has done to the Native Tribes.  I also see that this is the path for the rest of the country.  H.R. 1388 is a bill that will do just that.  Obama and his fellow dems, are attempting to pass. This bill calls for all of us to work for the good of the country.  Sound familar?  It should, if  you know anything about socialism or communism.

Think you could be excluded?  Unless you are dead, theres not muh chance of that.  If you are retired, part of the baby boomers, or a Native tribe, you will work for Obama or pay the price.  Think you are to young?  Even the disabled and the veterans will have work to do for the new government.  Black, white, young old, every race will be included, this means all indian tribes, hispanics, from every state and territory.

 Or poor, or highley educated?  Wrong, all these groups will be told to work..

What will be the pay?  Nothing of course, the money will be given to the state, not you.  Read the bill yourself…This is the price we must all pay for the new United Socialist States of America!

Tell congress to vote no!!!!!

The End is Coming…

I would like to explain my long absence.  Not that there is any excuse for it, as there is not.  But, a explanation, is in order.  Since the election I have tried to continue as before.  This has been a long personal battle, as with most of you, I am tired. 

The shear reality, that we now live in a different time and place than we did one year ago, it utterly frightening.  For the past two years or so, I have been shouting warnings of what was to come.  The dire consequences, of the actions of this country were shouted from the mountain tops, by many.  I shouted with a loud voice, as a warning to all people and tribes.

I can’t help but feel, that these things fell on deaf ears.  Many turned a blind eye to our future.  Now, the future is here, for all to see.  I often thought I would enjoy saying, “I told you so.”   But, that has not happened, I am sadden and frightened by what is happening.

The future is even more frightening, more to myself and others who fought against Obama.  Because we knew the truth, we knew of what was to come.  Sometimes ignorance is bliss, and this is the case, now more than ever.   Those who blindly followed him, like a messiah are now beginning to see the light.  It is a slow process, and one I do not look forward to.

We all are and will pay the price for those blind and deaf people.   That in itself makes me sad.   For the suffering has only begun, and will continue for years to come.  This has been my state of mind for the past few months.  I find it difficult to believe that, two years ago we were all so optimistic. 

Reading the news, or watching videos only makes me sadder.  I see what others did not, that the unheard warnings are coming to pass.  America is becoming a socialist country, just as we all predicted.   Foreclosures, and unemployment are spreading like a uncontrollable disease.   The “savior” is only making things worse. 

The bills that are being passed, with earmarks such as studying the DNA of catfish, or how pigs smell is more important than the welfare of the people.   As I have said all along, you only need to  look at the past to see the future.   Many times I asked you as readers, to really look at the past of Obama, and see who he really is.  Many did not do that, and now we are all reaping what they have sewn.

The future is there for all to see, and I for one do not like what I see.  It is as if we are all banging our heads against a wall, hopeing for a different outcome.   Unforutantley, we cannot change the past, but hopefully we can change the future.   It is very disheartening to invision the FEMA camps, and the vast misery that we may have in the future.   

The world as we know it, is changing.  This is the change that was promised, the end of a country, and the begining of the end.  I have always been a student of history, and of prophecy.  I am seeing things in my lifetime that I never thought I would.  I know it is diffucult, but we must all be ready, because I fear the end is near. 

 The end of the world is what you are thinking I am sure, but thats not what I mean.  As I believe the world will never end, but the end of life as we all know it.  This change, to one that many of us ever imagined.  I am sure most of your remember reading the slow and agonizing death of the old south.  Now, we are wittnessing the slow and agonizing death of America. 

This is what has caused my absence, the fact that the future looks so bleak.  The worst part of it all, is it could have been prevented.

McCain has A plan…..

Homeownership Resurgence Plan This plan is also viewable on McCain’s website.  I think it’s a good plan, it should help many people. The McCain resurgence plan would be available to mortgage holders that:

  • Live in the home (primary residence only)   

  • Can prove their creditworthiness at the time of the original loan (no falsifications and provided a down payment).
The new mortgage would be an FHA-guaranteed fixed-rate mortgage at terms manageable for the homeowner. The direct cost of this plan would be roughly $300 billion because the purchase of mortgages would relieve homeowners of “negative equity” in some homes.  Funds provided by Congress in recent financial market stabilization bill can be used for this purpose; indeed by stabilizing mortgages it will likely be possible to avoid some purposes previously assumed needed in that bill.  
The plan could be implemented quickly as a result of the authorities provided in the stabilization bill, the recent housing bill, and the U.S. government’s conservatorship of Fannie Mae and Freddie Mac.  It may be necessary for Congress to raise the overall borrowing limit.
 

 

John McCain will direct his Treasury Secretary to implement an American Homeownership Resurgence Plan (McCain Resurgence Plan) to keep families in their homes, avoid foreclosures, save failing neighborhoods, stabilize the housing market and attack the roots of our financial crisis.  America’s families are bearing a heavy burden from falling housing prices, mortgage delinquencies, foreclosures, and a weak economy.  It is important that those families who have worked hard enough to finance homeownership not have that dream crushed under the weight of the wrong mortgage.  The existing debts are too large compared to the value of housing.  For those that cannot make payments, mortgages must be re-structured to put losses on the books and put homeowners in manageable mortgages. Lenders in these cases must recognize the loss that they’ve already suffered.  
The McCain Resurgence Plan would purchase mortgages directly from homeowners and mortgage servicers, and replace them with manageable, fixed-rate mortgages that will keep families in their homes.  By purchasing the existing, failing mortgages the McCain resurgence plan will eliminate uncertainty over defaults, support the value of mortgage-backed derivatives and alleviate risks that are freezing financial markets.