The economic downturn left Florida residents, particularly those of the southern tip of the state, in financial turmoil. Foreclosure rates here are sky-high. The only region worse than here is Las Vegas. Luckily, the state government enacted the “Hardest Hit Program”. This program literally hands out cash—up to 12,000— to prevent foreclosures. I think the government’s strategy is great. People in certain parts of the country have really been suffering. Measures like this will help ease the pain. Fortunately, the “Hardest Hit Program is actually working”—foreclosures are slowly dropping. I think this program’s success shows government action and planning at its best.
Nonetheless, one thing still concerns me: how does the government plan to finance programs like this long term. After all, for those who qualify, money is pretty much being handed out. This will almost surely create a future tax burden. The current deficit is already big enough!
Regardless of this major downside, more programs like this should be created. The foreclosure crisis we’re facing can't be ignored. I’m usually not an advocate of government intervention, but action must be taken now.
My point of view is laissez-faire. We live in a democracy, and all this government intervention is strongly resembling that of a socialist/communist society. Not to mention that this ridiculous type of spending is what got us in trillions of dollars in debt. Do we really want to continue spending at the cost of our economy's future?
ReplyDelete