Tuesday, February 3, 2009

Mitch McConnell: Socialst Free-Trader

Senate Minority Leader Mitch McConnell from Kentucky, speaking on the issue of the Stealulus Plan, said the "Buy American" clause should be stripped from it.

He's right.

This is anti-free trade, and would only result in higher costs.

Unfortunately, he kept talking.

"We need to fix housing first," he said.
By this, he meant price fixing. Specifically, forcing banks to to loan at 4-4.5%.
Then...wait for it...Fannie Mae and Freddie Mac would have to buy these mortgages!

Did this guy sleep through the housing crisis?

First of all, the last time the government tried to "fix housing", we ended up having to...well, fix housing!
And remember, Fannie and Freddie played key roles in "fixing" us the first time around.

Here's all you need to know: house prices dropped in November; sales increased in December.

And mortgage rates were about 4.5-5%.

Mr McConnell needs to acquaint himself with all aspects of free trade and markets.

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