Missouri's 7th District, U.S. House of Representatives




Bringing LIBERTY to Capitol Hill -- 2008
Saturday Morning, March 29, 2008, 10:30am

A Discussion of The President's Saturday Morning Radio Address

Click here to listen to a replay of the March 29, 2008 Ozarks Virtual Town Hall

Notes and Summary of the President's Address -- "The Housing Market"

THE PRESIDENT: For many families, the greatest concern with the economy is the downturn in the housing market. My Administration has taken action to help responsible homeowners keep their homes.

How the President Differs from the American vision of "Liberty Under God":

  1. Unconstitutional Money System -- Bush Accepts Three Economic Myths
    1. Capitalism and Depression -- FDR "saved capitalism from itself"
    2. Government and Money -- Money must be managed by the Government
    3. Prices Should Always be Going up.
  2. Unconstitutional Retirement System
    1. Prevents real investment and economic growth -- your retirement money already spent
    2. steals from families -- the government is your first-born son.

President Bush's
Saturday Morning Radio Address

Another Perspective:
"Liberty Under God"

THE PRESIDENT: Good morning. It's not every day that Americans look forward to hearing from the Internal Revenue Service, but over the past few weeks many Americans have received a letter from the IRS with some good news. The letters explain that millions of individuals and families will soon be receiving tax rebates, thanks to the economic growth package that Congress passed and I signed into law last month.  
Americans who are eligible for a rebate will get it automatically by simply filing their taxes. If you are not a tax filer, you should visit your local IRS office to fill out the necessary paperwork so you can get your rebate on time. Are "rebates" given to those who have not paid taxes?
For many families, the greatest concern with the economy is the downturn in the housing market. My Administration has taken action to help responsible homeowners keep their homes. In October, we helped bring together a private sector group called the HOPE NOW Alliance. HOPE NOW has helped streamline the process for refinancing and modifying mortgages, and it runs a national hotline to connect struggling homeowners with mortgage counselors. In other contexts, subprime loans are called "irresponsible."
On Friday, I visited an impressive mortgage counseling center in New Jersey. At the center, I met with homeowners who have been able to get help, thanks to HOPE NOW. One of them is Danny Cerchiaro. Danny owns a home in New Jersey that also serves as a studio for his movie production company. When Danny and his wife learned that their adjustable rate mortgage was resetting to a higher rate this past summer, they became concerned about their financial security. So Danny called HOPE NOW for help. Less than two months later, he was able to get a more affordable fixed-rate mortgage. And today Danny calls the mortgage counselor who helped him, "the magic lady."  All of this represents government "solutions" for problems that were caused by government in the first place.
Theresa Torres from Kansas City is another homeowner who has been helped. Theresa called HOPE NOW after she and her husband fell behind on their mortgage payments in December. A mortgage counselor helped Theresa modify her mortgage. Today she no longer worries about losing her home.  
There are hundreds of thousands of homeowners like Theresa and Danny who could benefit from calling HOPE NOW. If you're a homeowner struggling with your mortgage, please take the first step toward getting help by calling the hotline at 888-995-H-O-P-E. That's 888-995-H-O-P-E.  
HOPE NOW can help homeowners find the right solution for them. One solution for some homeowners is a new program we launched at the Federal Housing Administration called FHASecure. This program has given the FHA greater flexibility to offer struggling homeowners with otherwise good credit histories a chance to refinance. So far this program has helped more than 130,000 families refinance their mortgages. And by the end of the year we expect this program to have reached nearly 300,000 homeowners in all.  
This is a good start, and my Administration is committed to building on it. So we're exploring ways this program can help more qualified homebuyers. The problems in the housing market are complicated and there is no easy solution. But by supporting responsible homeowners with wise policies, we'll help them weather a difficult period, we will help get our economy back on track, and we will ensure America remains the most prosperous Nation in the world. The solutions are clear and obvious. Whether they are "easy" simply depends on one's priorities.

Government claims to help people "weather a difficult period," even as government policies are creating new "difficult periods" for the future.

America is officially bankrupt.

Thank you for listening.  

Additional Resources:

The Great Depression

  • FDR prolonged -- not ended -- great depression University of California - UC Newsroom
  • The Prophet of the Great Depression - Frank Shostak - Mises Institute
  • The Hayek Centenary - Murray N. Rothbard - Mises Institute
    • F.A. Hayek won the Nobel Prize in economics for his explanation of "the business cycle" of boom and bust.
      "Converted from Fabian socialism by Ludwig von Mises's devastating critique, Socialism, in the early 1920s, Hayek ...  elaborated Mises's brilliant business cycle theory, which demonstrated that boom-bust cycles are caused, not by mysterious defects inherent in industrial capitalism, but by the unfortunate inflationary bank credit expansion propelled by central banks."

Communicating with Government and Media

  • Contact Congress -- this is from the JBS website, powered by "CapWiz," from Capitol Advantage. Lots of organizations use capwiz. If you don't want to go through the JBS, search for capwiz on Google and find another organization that uses it.
    Notice that you can also contact media through this webpage.
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John Adams once wrote that the American Revolution began in 1761, when Massachusetts attorney James Otis began legal challenges to the Writs of Assistance. He lost the case, but "American independence," Adams wrote, "was then and there born." Now do the math. That means it took 15 years to convince the rest of America to declare Independence (1776). Then another seven years of war was required before a Peace Treaty was signed (1783), and then six years before the Constitution was finally ratified (1789). That's almost 30 years. (And Jefferson said we shouldn't go 20 years without another rebellion!) How can we hope to convince Americans to fight for principles they were never taught in government schools? We need to be in this battle for the long term. "Eternal Vigilance is the Price of Liberty."

The Democrat Party Radio Address:

Illinois Congressman Bill Foster delivered the Democratic Radio Address.

More rhetoric, lists of problems, no real solutions

Click here for a replay of this edition of the Ozarks Virtual Town Hall