Aren't you sick and tired of our out of control spending government and bailouts? I know I am!
Now the Federal Government is considering yet another bailout for their own FHA agency simply because the FHA is required to maintain enough cash reserves to cover losses on the mortgages it insures. But in its annual actuarial report to Congress, the agency said a slower-than-anticipated housing market recovery has led its reserves to fall $16.3 billion below anticipated losses.
The FHA's cash reserves aren't supposed to drop below 2% of projected losses. They ended the 2012 fiscal year at -1.44%, down from the seriously low level of 0.24% at the end of 2011.
Seems Obama's campaigning claims to work hard to reduce our deficit was in fact a farse as usual...saying one thing but doing the opposite! Now its bailing out themselves with one of their own agencies!
Why do we continue to allow this? Haven't you had enough of their decietful ways and out of control spending?
NO MORE BAILOUTS!!!!
