Obama Housing Plan: What You Need to Know

Obama administration’s plan to help millions of homeowners refinance or modify their mortgages. I like this gustier of helping people keep their homes, the only problem is that not everyone will be getting this help. there is a list that will determine who will qualify for this aid.

some of the qualifacations are.

A. The plan is only going to help those who earn enough money to pay their modified loans. So the newly jobless may not get any relief.

B. To qualify, your monthly housing payment needs to exceed more than 31 percent of your gross monthly income

C. If your total debts, including your mortgage and any other revolving debt like credit cards, auto payments or student loans, are 55 percent or more of your gross income, you’ll need to work with a counselor who has been approved by the Department of Housing and Urban Development.

There are also restrictions with this plan, click on this link to view them.

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Not just the U.S.

the DJ Euro Stoxx 50 index, a barometer of euro zone blue chips, fell 1.1 percent, while the FTSE 100 index in London fell 1.2 percent. The CAC 40 in Paris fell 1.3 percent, and the DAX in Frankfurt fell 1.2 percent. European markets rose more than 5 per cent on Tuesday.
HSBC Holdings, which rose 14 percent Tuesday, slid 8.3 percent.
UBS, the troubled Swiss bank, fell 0.9 percent. The bank said in its 2008 annual report that its loss for the year was $1 billion greater than it previously announced.
Trading in U.S. futures suggested Wall Street would be little changed at the opening in New York. How is this avoidable, what can the people in the country do. from what i know about stock is that the more people invest the better the stock does. The more people who take there money the worse the stock does. why don't people just keep the investment going to keep it stronger. Things like this cant continue to happen, if it does we may end up merging with another country to hep with finances.

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The growing Net

This video reminded me of my earth science class about the overpopulation of the world. I love the information that was provided from the video. I feel that the fact that the Internet is growing means that more people are connecting, more information for people. This video on youtube talks about the growth overseas. I feel that the Internet and the use of computers will continue to grow, and that will help with home based business and extra activities.

parents and the net

Today we watched a video about parents blaming the Internet for bad social behavior. I felt that this video was a way for parents to blame someone else for there bad parenting. in psychology we call that mecanismic. this is when a person do not take responsibility for there own action. there were some good points but for the most part kids had these problems way before the Internet became this big. Yes there is a lot of info on the net, but how a parent teaches there child to deal with the info is the turning point. I don't feel the net or games stop young adults from doing other activities such as playing basketball or other sports. there are pro gamers who are ranked in the world in sports, it all depends on the parent. people who tend to try and stay away from things like facebook and myspace are just scared of change.

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What more can i say

What more can i say? I have Ben looking at all these videos and Ben reading a lot of news articles about the issue on unemployment and the stimuli's plan. right now i believe there is a lot of talk and i feel its time for some action. We can talk and Waite for time to pass us by or we can try and try Intel we succeed. This country is ran by greed and we have politician's trying to take everything from we. They say united we stand and together we fall, but individual agenda is killing us all.

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Review of The Bush

President Barack Obama on Monday ordered a review of George W. Bush's guidelines for implementing legislation passed by Congress, at the same time saying that he would employ his own version of how he wants the government to follow the law.
In a memo to senior government officials, Obama said they must check with Attorney General Eric Holder before relying on any of Bush's signing statements for guidance. Bush often issued a statement when signing a bill into law, and critics said the statements at times showed government officials how to circumvent the law if Bush disagreed with it on constitutional grounds.

This you got to love, checking up on the old before we get into the new. in psychology we call this continuous, this is when a person finish the old before jumping into the new. things happen in steps. cleaning out house and editing errors in the past will help us out, good work.

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President Obama's Address to Congress

In this video Obama talks about the recession and promise to rebuild and make Americas economy a stronger. A politician making a promise is the same as someone giving you a counter fit bill, its all a lie. but in this case i believe Obama will do what he says and means everything he says. i look forward to the next 4 years with him in office to see if he can keep up his end. the only thing that can stop him i believe is people not backing him up.

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President Obama Releases Budget

White House correspondent Peter Baker on President Obama's new budget blueprint, which estimates a stunning deficit of $1.75 trillion for the current fiscal year. There is a plan to fix the U.S. the plan sounds good to me but my question is why do people want to discredit the plan? are there people that are scared of success or is it that the people who discredit the plan are not getting personal gain out of it. everyone has there own agenda.

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This is just a video i think people will be interested in seeing. this is Obama talking about unemployment right before he got elected. We said we wanted a change, my question do you as a American believe that you are getting that?

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Stimulus disappointment

if we want stimulus funds spent, they should go to people in temporary economic difficulty who are likely to be liquidity-constrained. But it appears that most of the measures that would do that — benefits to the unemployed, food stamps, aid to state and local governments — are being bargained away. Even the tax credit is apparently not fully refundable, so those who need it most, and are most likely to spend it, won’t get the full amount. i understand this statment but i also feel that something is better than nothing. in this field thats when greed comes into play and we all know what happens when people get greedy, we lose everything.

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Obama’s Budget Faces Challenge

The apparent first casualty is a big one: a proposal to limit tax deductions for the wealthiest 1.2 percent of taxpayers. Mr. Obama says the plan would produce $318 billion over the next decade as a down payment for overhauling health care.
But the chairmen of the House and Senate tax-writing committees, Senator Max Baucus of Montana and Representative Charles B. Rangel of New York, have objected to the proposal, citing a potential drop in tax-deductible gifts to charities. This is more of the people who do not want to see change. i cant understand why some people love to fail, love to see people suffer, what can a person get out of that. everything is good till the shoe is on the other foot.

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progress

President Obama released billions of dollars on Tuesday for public works projects to prompt creation of jobs.
Kansas will widen U.S. 69 to remove a bottleneck outside Kansas City, along with a few other expensive projects. Maryland will spend its money in smaller pieces, resurfacing dozens of rutted roads and highways. Colorado will build an interchange on Elk Creek Road in Jefferson County, complete with an underpass for the elk. Obama is doing a great job on this. I don't see why he don't think its a big deal because when you think about it, the plan is not to give ppl money that it will support them for the rest of there lives where they don't have to work. Its about creating jobs and stibility for the people.

what can we do

In the past bloggs I talked about what the American govt will attempt to do for us. Now I have to ask what we will do for them or what will we do for our country,to help our self. Can more ppl buy into the market to bring the stocks back up? Or buy more American product? Invest in American stock, vacation in American city's instead of going to other countries? The stimulus plan was to give American ppl money so that they will spend it on American product to boost the American economy and of course help with debt problems. I like the fact that the gov't is trying to do something for us, now we are at the point where we should ask what we will do for them that could help the American economy.

where does it go

Tax cuts are one means of providing economic relief to those in need and will be part of the recovery plan for America. However, Government Grants will also play a vital role as a means to swiftly provide assistance to those who could use financial assistance. Unlike a loan, these Government Grants provide funds which do not need to be repaid. Additional services are available to help in the aid of individuals who face financial hardship or seek to build a better future, such as: pay off many forms of debt
If there is a bill out there that needs to be paid, there may be funding now available that will be able to cover it.

What Now

The Fed chairman, Ben S. Bernanke, said in remarks prepared for delivery before the Senate Budget Committee that the worst case “would not only contribute to further deterioration in the fiscal situation, but would also imply lower output, employment and incomes for an extended period.”
His testimony projected that the consequence might well be an increase in public debt to the equivalent of 60 percent of economic output, compared with 40 percent before the economic crisis began — and reminiscent of the levels after the gigantic borrowing of World War II. what are we to do about this? it feels like the gov't messed up so much in the past that its hard to recover. i love what our president is doing but i think he has to many ppl in the house holding him back.

more help from unemployment

As of March 1st 2009 people who are receiving another extension from unemployment insurance will be receiving an extra $25 added to there check every week. This is another positive thing the gov't is doing for the American people. This is giving me more confidence that our country is headed in the right direction.

sign of relief

In my last blog I stated that the govt was going to extend unemployment insurance. On Sunday Feb 21 the govt did extended benefits for another 13weeks for the people who have not worked in between the period unemployment was not giving. This is good for America because there are still people having problems getting jobs and a lot of people with small business are loosing their business. This is giving American people a sense of relief and a touch of hope that the economy will get back to normal. I love my country, I do not want to see it fall. When I go out shopping I try to get things that are American. The car I have now is American and the next will be the same. When I start my business and if it becomes big I'm keeping it in the us there will be no outsourcing. Will the us go back to being the super economy? I have no idea but we still have the potential to and I hope so. As of right now I love what the new govt is doing and I hope they continue to help with American progress.

Caught Red Handed

WASHINGTON – President Barack Obama plans to announce Monday a former Secret Service agent who helped expose lobbyists' corruption at the Interior Department as his pick to oversee the $787 billion economic stimulus plan.
Obama is set to name Earl Devaney as chairman of the new Recovery Act Transparency and Accountability Board, an administration official said Sunday. Vice President Joe Biden also will be given a role coordinating oversight of stimulus spending.
The official spoke on the condition of anonymity because the White House had not made public the announcement.
Devaney, the inspector general of the Interior Department, helped turn up disgraced lobbyist Jack Abramoff's dealings at the department. The department's No. 2 official, Steven Griles, pleaded guilty to charges he lied during congressional testimony based in part on Devaney's investigation.
Italia Federici, co-founder of the Council of Republicans for Environmental Advocacy, and former Interior Department official Roger Stillwell also pleaded guilty to charges stemming from the Interior investigation. to see more on this artical click here. prvided by yahoo.com.

Obama Tells Mayors to Spend Wisely

President Obama told the nation’s mayors on Friday that he would hold them accountable for how they spend the money in his $787 billion economic stimulus package, which he described as “a true partnership” between the federal government and cities that have been too long neglected by Washington. “I want to be clear about this: We cannot tolerate business as usual -- not in Washington, not in our state capitols, not in America’s cities and towns,” Mr. Obama told a gathering of the United States Conference of Mayors. He said he was putting them “on notice” that if they propose a wasteful project, “I will call them out on it.”

This is the kind of order America needs if we are gonna get out of this depression. The government monitoring the government is the best thing i can think about of. for example police can pretty much do whatever they want, run red lights, wrongful arrest, even get a take on some drug bust. just imagine if citizens could write police tickets for some of the things they do, i bet that cos would change the way they treat people. My point is that i feel with Obama making sure that Mayors don't spend American money on dumb things eg: baseball stadiums or a new park named after them we can get or country back in order.

Worst Is Yet to Come

permanent change. American's standard of living is undergoing a "permanent change" - and not for the better as a result of:
An $8 trillion negative wealth effect from declining home values.
A $10 trillion negative wealth effect from weakened capital markets.
A $14 trillion consumer debt load amid "exploding unemployment", leading to "exploding bankruptcies."
"The average American used to be able to borrow to buy a home, send their kids to a good school [and] buy a car," Davidowitz says. "A lot of that is gone."
I cant say that it is gone I'm gonna say it is being postponed. I feel banks are being more careful about who they are giving there loans to and how much. the reason the banks are having problems is because at one point they would just give a loan to just about anyone. Bankrupts is a way for a company to recheck all its assets and put things in order without paying there bills Intel they get things back in order. at this point i feel our economy is trying to get things in order Intel it is able to go back to full strength. for now the american people should live below their means and when things are back to normal do the things we use to do.

Unemployment Benifits

We all know that the unemployment rate is high and people are trying to find a way to continue with there every day lives. Years ago president Roosevelt introduced the new deal. This program introduced many things, most important it started what we call unemployment insurance. This give people who were fired from a job financial support for a certain period of time. Because if the financial crisis, in the past year people who are on this program were awarded a extension on benefits, That extension has ran out. Most people are wondering what is going to happen now. On the unemployment website they are giving a notice that on Feb 22 there extending the benefits for another 13 weeks to help American people. Finlay another sign of relief I'm sure we can all use it. its good to know that our govt is trying to help in ways of putting our country back in shape.

unemployment and the stimulis plan

Unemployment rate is at a all time low and jobs are becoming none existent millions are loosing their jobs and worried about how they will support their family's. the only person who is willing to help is our new president Obama. in this video he talks about unemployment and the new stimulus plan. below is president Obama plan and how it will help the American people.
February 12, 2009
Our country faces its most serious economic crisis since the Great Depression.
Beginning with their inauguration, Barack Obama and Joe Biden have already put together a plan to revitalize the economy, Immediate action to create good jobs in America. Immediate relief for struggling families. Direct, immediate assistance for homeowners and business owners.
Rapid, aggressive response to our financial crisis, using tools such as Government Grants.
Tax cuts are one means of providing economic relief to those in need and will be part of the recovery plan for America. However, Government Grants will also play a vital role as a means to swiftly provide assistance to those who could use financial assistance. Unlike a loan, these Government Grants provide funds which do not need to be repaid, and can be used for virtually any purpose including, pay off many forms of debt. provide mortgage assistance or prevent foreclosure. purchase a new home or refinance your home mortgage, start a new business or assist with an existing business pay off student loans or assist new students with obtaining a degree. How do you feel about Obamas plan?

Unemployment today

Over the years it seems that the stock market crash as if it has its own anniversary. Millions of people loose their jobs and their homes. What i will mostly talk about is how the U.S. Govt will help our American citizens survive this crisis and the cause of this event. On CNNMoney.com they say the reason for this money problem is Housing dpt in the stock market. I don't believe that is the sole problem. I also believe that outsourcing plays a very big part in this problem. For some that don't know what that is, I will give you a example. Say i owned a company in NY, lets call it company X, and i was paying one employee $100,000 a yr to answer a phone. As a owner i think that's a little to much. what i would do is move my business to another country, lets say India, fire my employees and pay some one from the other country $30,000 a yr instead of $100,000. What i was paying for one person in NY i can get three people in India. There is more to it but that is just a example.
Most of the American people know that America does not really make products anymore. most things are made overseas including most of the cars that we drive in the U.S. I also understand why we should not print more money. From my understanding by printing more money we just flood the market and it makes the value of the dolor less. At the end of the day i think that there is more to this story then the Govt is telling us. In this link Bush talks about unemployment.

U.S. History of unemployment

unemployment line.


People say that history repeats itself, in this case it does. Unemployment has been higher now in 2009 than it was in 1930's and 1940's.
October 24, 1929, Black Thursday, the day the stock market crashed. This was indeed a traumatic day for those who owned stock as sales volume broke all records. But the decline in overall stock prices was only about 2.5%, from 261.97 to 255.39 as measured by the New York Times index of 50 stocks. Most of the decline still laid in the future; the market hit bottom on July 7 of 1932. By 1932 the unemployment rate had soared past 20 percent. Thousands of banks and businesses had failed. Millions were homeless. Men (and women) returned home from fruitless job hunts to find their dwellings padlocked and their possessions and families turned into the street. Many drifted from town to town looking for non-existent jobs. Many more lived at the edges of cities in makeshift shantytowns their residents derisively called Hoovervilles. People foraged in dumps and garbage cans for food.

Roosevelt faced a banking crisis and unemployment that had reached 24.9 percent. Thirteen to 15 million workers had no jobs. Banks regained their equilibrium after Roosevelt persuaded Congress to declare a nationwide bank holiday. He offered and Congress passed a series of emergency measures that came to characterize his promise of a “new deal for the American people.” The legislative tally of the new administration’s first hundred days reformed banking and the stock market; insured private bank deposits; protected home mortgages; sought to stabilize industrial and agricultural production; created a program to build large public works and another to build hydroelectric dams to bring power to the rural South; brought federal relief to millions.