The government just gave away $3 billion of our tax dollars that they had to borrow from China.  Obama's administration is trying to buy votes and is piling up more debt on the American tax payers.  The two programs are $1.5 billion for black farmers and $1.5 billion for people with bad mortgage loans.

As a land owner and farmer, there are federal, state, and local programs for farmers.  Is it tough to get credit for farming? Yes it is.  White farmers have the same credit issues since farming is so risky and costly.  The Obama administration has reached a deal with black farmers that could end a decades-long stalemate over alleged racial discrimination by the Agriculture Department. 

The agency said the administration is planning to announce a $1.5 billion fund Thursday to compensate blacks who say they were unfairly denied assistance from USDA.  President Obama requested the same amount in his budget last year, but the funding stalled in Congress as settlement talks continued.  If approved by Congress, it would be the second round of damages stemming from a class-action lawsuit originally settled in 1999. The new money is intended for people who were denied earlier payments, often over missed deadlines.

Is this a political pay off--yes. 

In Las Vegas, Obama announced that he was giving an extra $1.5 billion to people who cannot pay their mortgages.  This is for Senator Harry Reid's reelection benefit since HUD, Fannie, and Freddie have already been given hundreds of billions for this same issue.

HUD, Fannie, and Freddie (along with ACORN) have a very negative impact on the U.S. economy and it is an issue that has created a multibillion-dollar debt for the American tax payer.

HUD's policies played a key role in causing the housing boom and bust and then the recession in its wake.  Weak lending standards on HUD-insured mortgage loans helped fuel risky non-prime lending.  HUD also put pressure on banks and the failed housing giants Fannie Mae and Freddie Mac to make risky loans to underqualified borrowers.  Thanks to those policies, Fannie and Freddie went bankrupt and already have received $112 billion in taxpayer bailouts.

When will the American tax payer have enough of this free-spending for votes and creating more debt for our nation?  The U.S. Congress is reckless, along with this administration as to fiscal policies.  Elections in 2010 and 2012 must correct these policies and put individuals in office who are responsible officials.  We have had enough of Washington politics and spending as usual.  Be responsible with our money.