Odyssey

04 Feb, 2008

‘War on the Middle Class’

Posted by: Gargs In: Economy

This was the tagline at the bottom of the screen as I was watching CNN. The story was about how middle class people are unable to pay their home mortgages any longer because they were duped by subprime lenders who promised them an affordable home.

Now, this story featured a ‘middle-class’ woman who earned about $43k a year, bought a $710,000 home, and her monthly payments are $7k a month. I am sure I am not the only person who sees the absurdity of the situation. If you buy a $700k home on that salary, you’re not only middle class, but also retarded.

Good thing the Government is using taxpayer money to bail these people out of their housing woes.

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