This is awful. It is hard to think of a worse signal to send the free market economy than if you take out mortgages on houses that you cannot afford, the government will rescue you. Bush said, “We should not bail out lenders, real estate speculators or those who made the reckless decision to buy a home they knew they could not afford.” Of course, the very act of making sure borrowers do not default, effectively bails out lenders. And obviously people who are having trouble paying their mortgages couldn’t afford their houses. So his statement is completely vacuous.
Can we just skip past the primaries and get on with an open-field general election so a new president can take over next month?
Notice to Readers: The American Spectator and Spectator World are marks used by independent publishing companies that are not affiliated in any way. If you are looking for The Spectator World please click on the following link: https://thespectator.com/world.