How Dumb Are Politicians?

J Philip Faranda November 14, 2010

How dumb are the politicians we are  ostensibly sending to Washington to clean up the economy? Well, try this dumb: There is now talk of ending the mortgage interest deduction in order to rein in the deficit. It goes without saying that such a move would throw millions in the USA’s middle class into a tailspin (like we need that now) and throw millions more out of reach from even buying who would otherwise qualify.

It is even more insidious than that. Just the talk of such a move freezes many people who might otherwise act, further harming the economy. When otherwise ready willing and able people hear that a benefit of owning might disappear, they grab their wallets and don’t move forward. This is the cure making the sickness worse: the economy is in the doldrums, so let’s cripple the housing market even more because some bean counter who doesn’t understand human beings sees money in eliminating a deduction.  

This isn’t some rogue congressman trying to get into the paper for his 15 minutes of fame. It is a Presidential commission. You can’t make this up.

Yet again, the government is falling on its spear.  

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