Liberal insanity again rears its ugly head

Now President B.O. wants to "fix" the economy by promoting the very thing that got us into this mess in the first place!

Obama urges Americans to refinance homes

President Obama used his bully pulpit Thursday to encourage Americans to refinance their homes, which could stimulate consumer spending and pump up the economy.

Obama trumpeted programs that have helped drive mortgage rates to their lowest levels in decades, and encouraged home owners to refinance to put more money in their pockets. He also hawked an administration website meant to encourage Americans to refinance their homes.

“So the main message that we want to send today is, there are 7 to 9 million people across the country who right now could be taking advantage of lower mortgage rates,” Obama said in remarks released by the White House. “That is money in their pocket. And we estimate that the average family can get anywhere from $1,600 to $2,000 a year in savings by taking advantage of these various mortgage programs that have been put in place.”

"Insanity" is the only [polite] word I can think of to describe this. These people simply cannot be that stupid or ignorant. They HAVE to know that the tanking economy was caused when the housing bubble burst. Yet here they are promoting a brand new housing bubble mere months later. God help us.