Unclear on the Concept

Obama has come up with another "more of the same" plan to help people who owe more on their homes than they're worth.

Economists say that some people could save perhaps as much as $3000 a year under the plan. But they're pessimistic about the plan working as a spur to the economy. They say that homeowners who are eligible and who choose to refinance through the government program could opt to sock away their savings or pay down debt rather than spend.

Imagine something so irresponsible as digging yourself out of debt rather than digging your hole deeper!

"Obama unveils refinance changes." The Dallas Morning News; October 25, 2011; p. 1A.