The construction industry came falling down in the month of May. The May construction permits fell which shows this industry is not healthy along with many others. However on May 18th I wrote an article that new home growth was on the rise. We asked the question whether or not it was due to the Tax Credit, apparently it was.
Alan Zibel an Associated Press Real estate writer posted an article titled "Home Construction Sinks Building Permits Down." Family home construction reduced 17 percent which is as Zibel writes "…the largest drop since 1991." As Americans and as readers it is our job to think for ourselves about what this says.
As I wrote in the May 18th article, a friend of mine in the lumber company said his company took a very conservative position with the supposed building increase because they thought it was due to the tax credit.
I actually think that Barack Obama wants to do well. I have no time for Harry Reid or Nancy Pelosi or much of the Democratic congress who I believe are out of touch with what is really going on. The bottom line is when Obama first came into office there was an incredible amount of credit that had to be given. That may have been true it was risky but I would not blame any president for doing what Obama did considering the state our country was in. Further, it was amazing the state of private industry how irresponsible they were in their actions.
However the government has gone on and continued to pass legislation which puts them in the position of having to pay for certain things such as continued unemployment. It is certainly not something that can be "something for nothing." There has to be a payer in any situation.
The reason there has not been much back lash so far is because of the consistent payments of unemployment. I have a friend who says he would not be doing as well as he is if it were not for unemployment. It is time that instead of having a one-party system that we start getting two views of the problems we have and start to really try and solve the problems instead of trying to legislate our way out.