Let's say I'm one of the large majority of homeowners who CAN afford to pay their mortgage, but I hear that my neighbor was able to renegotiate his mortgage downward. Might I be tempted to see if I can get mine renegotiated too?That's the problem with most handouts. Meant for the few who really, through no fault of their own, have a serious problem, there will be many others who will decide to get on the gravy train.
It worked that way with welfare and other government giveaways (All my unemployed clients are deferring looking for work until their ever more extended unemployment benefits run out) and it's going to work that way with bailouts.
