Maybe I should start a Gravitas Series, and invite Dr. Rube Goldberg to the opening ceremony.
The most brilliant minds in the world devised the housing double dip, and they didn’t even know it:
The S&P; Case-Shiller home price data for the first quarter of 2011 are so dreadful that nearly everyone agrees that the U.S. housing market is in the midst of a “double dip.” Curiously absent from many of these analyses is the role played by the federal government in helping to engineer a double-dip with its ill-devised homebuyer tax credit. Originally aimed only at first-time homebuyers and set to expire at the end of November 2009, the tax credit was later extended through the end of June 2010 and expanded to all homebuyers below certain income levels. The extension and expansion was attributed to the early “success” of the program, evidence for which consisted of nothing more than households’ willingness to accept free money from the government.
And these are the people who want to run the health care system. What possibly could go wrong?
Additional point, new Obama campaign slogan:
“Yes you can accept free money from the government.”
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