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Politics : Liberalism: Do You Agree We've Had Enough of It? -- Ignore unavailable to you. Want to Upgrade?

To: Kenneth E. Phillipps who wrote (70920)	8/20/2009 6:13:23 PM
From: tonto	2 Recommendations Read Replies (1) \| Respond to of 224720

By spending irresponsibly our money as they are...by not helping to put as many as possible back to work... How will the Dems lose seats in the Senate?

To: Kenneth E. Phillipps who wrote (70920)	8/21/2009 8:00:30 AM
From: lorne	1 Recommendation Read Replies (1) \| Respond to of 224720

Mortgage Delinquencies, Foreclosures Surge Mortgage Mess Spreads to Prime Loans With Record Late Payments and Foreclosures By CHARLIE HERMAN Aug. 20, 2009 abcnews.go.com The Mortgage Bankers Association reports that a record 1 in 7.6 homeowners with a mortgage were either late making a payment or in foreclosure from April to June while delinquencies have expanded to prime loans. The trade group's quarterly National Delinquency Survey reviews 45 million loans that represent 80-85 percent of all outstanding first mortgages. It found that 9.24 percent of all mortgage holders were at least one month late making a payment and 4.3 percent of loans were in foreclosure. "Florida continues to establish itself as the worst state in the union for mortgage performance, closely followed only by Nevada," said Jay Brinkmann, chief economist at the trade association. In a sign that has troubled many economists, an increasing number of mortgage holders with prime loans – those provided to people with good credit who made down payments – were delinquent. 5.23 percent of prime fixed rate mortgages were delinquent making payments compared with 3.07 percent a year ago. 12.21 percent of prime adjustable rate mortgages (ARM) were delinquent making payments compared with 7.49 percent a year ago. "There has been a dramatic shift away from subprime ARMs being a driver problem to prime fixed rate ARMs," said Brinkmann. Plunging home prices and homeowners out of work are believed to play a large role in this increase. As prices drop, many economists have forecast a surge in the number of mortgage holders underwater, where they owe more than their home is worth. Karen Weaver, an analyst at Deutsche Bank, recently estimated that 48 percent of all mortgage holders will be underwater by the start of 2011. This is an increase from the bank's current estimate that 27 percent of homeowners owe more than their home is worth. That reality could lead to foreclosures continuing to rise in the months ahead despite an increase in modification programs. "It is unlikely we will see meaningful reductions in the foreclosure and delinquency rates until the employment situation improves," said Brinkmann. "In some areas where a number of borrowers have mortgages that are larger than the current value of their homes, any life events such a divorce or loss of a job are likely to translate into foreclosures until prices in those areas recover, not just flatten." Subprime loans are also still a mess. 23.6 percent of subprime fixed rate mortgages were delinquent making payments compared with 16.02 percent a year ago. 27.36 percent of subprime adjustable rate mortgages were delinquent making payments compared with 21.03 percent a year ago. The number of foreclosures started during this period was essentially the same compared with the first three months of this year. The trade group said there was a "major drop" in foreclosure rates of subprime adjustable rate mortgages. That was offset, however, by a significant increase in prime fixed-rate mortgages entering the foreclosure process. The group, which represents mortgage lenders and servicers, also had a comment about modification programs. "While the various loan modification programs continue to have an impact on holding foreclosure rates below where they otherwise would be," Brinkmann said in a statement, "the issue is that many of the foreclosures involve homes that are vacant, borrowers who no longer have jobs, or loans where there was fraud involved. Therefore, in measuring the effectiveness of industry or government loan modification programs it is necessary to compare the results not with the total foreclosure and delinquency numbers reported here but with the smaller subset of borrowers who can and want to qualify."

To: Kenneth E. Phillipps who wrote (70920)	8/23/2009 2:47:46 AM
From: RMF	Read Replies (1) \| Respond to of 224720

I don't even know how many seats will be up in the Senate, but I DO know if the Democrats don't turn things around pretty quick they're gonna get ZIP credit on the economy and TOTAL blame for the deficits. The Republicans are just SMARTER on going for the juglar on stuff. The Democrats could have gone after Bush on deficits but they never did. The Democrats are gonna get BEAT UP on stuff the Republicans are really responsible for and they have NO IDEA it's coming. BELIEVE ME, the democrats are gonna LOSE seats in the Senate if they don't somehow turn things around.

To: Kenneth E. Phillipps who wrote (70920)	8/23/2009 9:24:05 PM
From: Hope Praytochange	Respond to of 224720

By DOUGLASS K. DANIEL, Associated Press Writer Douglass K. Daniel, Associated Press Writer – 51 mins ago WASHINGTON – An independent senator counted on by Democrats in the health care debate showed signs of wavering Sunday when he urged President Barack Obama to postpone many of his initiatives because of the economic downturn. "I'm afraid we've got to think about putting a lot of that off until the economy's out of recession," said Connecticut Sen. Joe Lieberman. "There's no reason we have to do it all now, but we do have to get started. And I think the place to start is cost health delivery reform and insurance market reforms." The Senate requires 60 votes to overcome a filibuster and advance a measure to an up-or-down vote. Senators from both parties said that Democrats might use a voting tactic to overcome GOP opposition, abandoning the White House's goal of bipartisan support for its chief domestic priority. Democrats control 60 votes, including those of two independents, but illness has sidelined Sens. Edward M. Kennedy, D-Mass., and Robert Byrd, D-W.Va. The party's leaders also cannot be assured that their moderate members will support every health care proposal. "I think it's a real mistake to try to jam through the total health insurance reform, health care reform plan that the public is either opposed to or of very, very passionate mixed minds about," Lieberman said. Talk about resorting to this maneuver comes as Republicans dig in against the idea of a government-run insurance program as an option for consumers and a requirement that employers provide health insurance to their workers. Senate Republican leader Mitch McConnell said Republicans would like to start over "with a genuine bipartisan approach." "The American people will be very troubled by a single political party's 'my way or the highway' attitude to overhauling their health care, especially when it means government-run health care, new taxes on small businesses, and Medicare cuts for seniors," McConnell, R-Ky., said in an e-mail to The Associated Press. Sen. Chuck Schumer, D-N.Y., said Democrats would consider the voting tactic, known as reconciliation, if necessary to pass a bill by year's end if Republicans won't work toward a bipartisan solution. To Sen. Orrin Hatch, R-Utah, "that would be an abuse of the process." Even Sen. Kent Conrad, the Senate Budget Committee chairman, acknowledged that "it's an option, but it's not a very good one." He has warned that nonbudget items in health care legislation would be challenged under the rules allowing reconciliation. Sen. Richard Lugar, R-Ind., also suggested that a fresh start was needed. "Bringing up of the health care situation in the midst of recession, the unemployment problems ... was a mistake," Lugar said. "For the moment, let's clear the deck and try it again next year or in subsequent times." Kennedy, one of the major proponents of health care reform, has missed most of the recent debate because of cancer. Both Hatch and Sen. John McCain, R-Ariz., said Kennedy's absence has taken a toll on the process. "He had a unique way of sitting down with the parties at a table and making the right concessions, which really are the essence of successful negotiations," McCain said. Lieberman and Lugar appeared on CNN's "State of the Union" while Hatch and Schumer appeared on NBC's "Meet the Press." Conrad spoke on CBS' "Face the Nation" and McCain on ABC's "This Week."

To: Kenneth E. Phillipps who wrote (70920)	8/24/2009 2:43:59 PM
From: FJB	1 Recommendation Respond to of 224720

Harry "The Weasel" Reid is trailing either of two opponents. That should tell you something. Poll: Harry Reid faces formidable foes in 2010 (AP) – 22 hours ago LAS VEGAS — A newspaper poll says Senate Majority Leader Harry Reid faces formidable opposition next year when he seeks a fifth term. A survey of 400 registered voters for the Las Vegas Review-Journal released Sunday paints the Democratic incumbent as an underdog when matched against either of two possible Republicans rivals in the election. The poll, taken last week by Mason-Dixon Polling & Research Inc., shows Reid lagging by as many as 11 percentage points against Danny Tarkanian. He had 49 percent to Reid's 38 percent. Tarkanian is a real estate professional and former UNLV basketball player. A separate matchup gave Nevada Republican chairman Sue Lowden 45 percent to Reid's 40 percent. Lowden has yet to commit herself to a race. The poll's margin of error is plus or minus five percentage points. Information from: Las Vegas Review-Journal, lvrj.com