Pocket Change

clipped from www.realclearpolitics.com We've seen housing sales slump when home prices were high but interest rates low. Or when prices were low but interest high. Or when prices and interest were alike high. But we never have seen a bad housing market in which both home prices and mortgage interest rates were low. Nonsense is passed off as wisdom. Those who caused the financial meltdown walked away with millions in bonuses while taxpayers covered the debts they ran up. The big-spending government claims it may cut our annual $1.7 trillion deficit in half by 2012 - but only after piling up trillions more in national debt. In our Orwellian world, borrowing to spend what we don't have has been renamed "stimulus." Those who pay no federal income taxes - almost half of Americans - can somehow be promised an income tax "cut." In the new borrowing of trillions of dollars here and trillions there, billions of dollars now sounds like pocket change.