No news is. . . well. . its just no news

I don't consider myself a news junkie. At work, I peruse through News For Dummies (AKA The USA Today), scanning headlines and ultimately searching for whichever section the crossword puzzle is in. I can now finish the crossword every single day - even the difficult Friday puzzle.

Occasionally I find headlines that I find interesting and I will read them, trying to broaden my horizons. The past few months, though, I find myself delving deeper into the papers, reading everything from the editorials to the NYSE reports. Yesterday I actually searched the Money Section for information, and when I didn't find what I wanted, tried to read The Wall Street Journal.

As I am getting (ugh) older and (not-so-ugh) wiser, I feel a need to connect with the world in a wider view. I need to understand what the Senators are doing, and how my money is working for me. I need to feel as if this whole, big, messed-up country is mine and I need to take responsibility for it. And only knowledge can enpower me.

But I haven't understood what I have been reading. Or maybe its that I don't like what I'm reading so much that I have convinced myself I must be reading it wrong.

Earlier this year, a one-time tax-free $7500 government loan was offered to new homeowners who bought within a certain time frame. Hubs and I, of course, bought our house 8 months before this government-imposed time span. Being a very good consumer of goods, it would be beneficial to both the economy and to my interest-raring credit cards if the government would give me this loan. Trust me, I would put it back into the economy. Much more than if I have this credit cards hanging over my head, the need to pay off this debt over-riding my need for that gorgeous pair of boots or desperately needed manicure.

I took a few breaths and tried to get over this hard luck - this 8 month time difference that could have helped me out of a tough situation. Breathe. Just breathe.

Then I heard on the news this morning that the government is now considering a one-time $8000 gift to first-time homebuyers who bought after a certain time period. Gift. That means no repayment. No interest. Gift. As in, open the wrapping paper and see what Uncle Sam sent you!

This pisses me off.

Hubs and I bought our house 1 year and 7 months ago. We bought in a very, very high market when the prices had only just begun to fall. When we applied for our home loan, our bank was willing to give us a much bigger loan. Oh, how we wanted to take them up on it. We wanted so badly to buy the beautiful house (complete with pool for the hot summers and grass - real grass that you don't often see in Phoenix) in a upper-middle class neighborhood. We wanted that extra room we could have as a game room, and a living room that could comfortably fit three sofas - and an armchair or two.

Instead, we bought within our means. What a concept, right? We bought a nice, comfortable home - sans pool, grass and extra bedroom - in a middle class neighborhood. We bought a home that we thought we could afford and still be able to live.

In other words, we were smart and bought what we could afford, not what the bank would give us.

And what are we getting out of this bailout situation??

That's right - nothing!

I don't expect handouts. I don't expect anyone to pay my bills. But I don't expect my tax dollars to go to handouts and bill-paying for other people who got in over their heads through greed. Or through other reasons. I understand that people are losing their houses for all sorts of reasons - loss of job, divorce, bills, etc. I understand its a rough time right now. I'm having a rough time, too. But I don't think that what I work for should go towards helping people who took too much. Greed, people. It's as simple as that.

Everyone is blaming the banks for the foreclosures. As I have just begun to read the news more, I am not an expert, but I do have this question - who forced these homeowners to buy homes that were double what they could afford? Who forced homeowners to have ARM's instead of fixed rate mortgages? Couldn't they have continued renting until they had enough saved money to buy a home on a Fixed Rate? Couldn't they have told the banks, 'No, that's too much money. I only need a house that is $100,000. Or $150,000. Not $350,000. Thanks, but no thanks.'

Why am I having to bail out all those in greed when there are alot more who are just in need?