obama, state of the union

[wiphan]

Originally Posted by Riot

Only fools and morons ignore what's happening in this country, paying no attention at all. They deserve what they get.

Only fools believe what any politician says and can't read between the lines. They are all liars especially in an election year. If you take owebama for everything he said then yes his speach was great. Let's take for instance
this quote:

President Obama gave his State of the Union address last night and as far as housing goes, the President said the he will be sending Congress a plan that gives every responsible homeowner the chance to save about $3,000 a year on their mortgage, by refinancing at historically low interest rates, no more red tape.

That means a savings of $250/month without any red tape. Let's say for instance you have a rate of 5.25% on 100,000 your new interest rate would have to be around .57% for you to lower your payments $250/month. Now lets take $200,000 your new interest rate would have to be 3.35% or lower to save $250/month on a 30 yr rate. Is this really reasonable or feasible? He said no more red tape. Did you know that by passing the 2 month payroll tax that they increased mortgage rates by charging higher G-fees on mortgages? Did you know that it will take 10 years of these fees to pay for 2 months of the payroll tax?