Housing “Rescue” To Pass Senate By Saturday

Anyone else thinking that if this weren’t an election year our political leaders wouldn’t be almost unanimously backing billions of dollars of government spending on bailing out people who took home loans they couldn’t afford?
As well as the lenders who gave them the loans?
Perhaps the worst part of all this is not the expenditure of tax dollars, which is bad enough by itself in this time of run-away government spending, but rather that our political leaders from both sides of the political spectrum are behind this because they see it as an opportunity to buy votes with other people’s money.
I’m reminded of the (undoubtedly apocryphal but no less true) quote often attributed to Alexander Fraser Tytler:

A democracy is always temporary in nature: it simple cannot exist as a permanent form of government. A democracy will continue to exist up until the voters discover that they can vote themselves generous gifts from the public treasury. From that moment on, the majority will always vote for the candidates who promise the most benefits from the public treasury, with the result that every democracy will finally collapse due to loose fiscal policy, which is always followed by a dictatorship.

Our political leaders of both parties are passing this legislation not because it’s sound fiscal policy but because they think it will curry favor with those Americans who want to live at the expense of others.