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4 Bumps

It looks like Fannie and Freddie have reached the end and are about to be dismantled. What is next, Soc Sec, Medicare...?

In a 32 page report Obama has called for the dismantling of Fannie and Freddie. We know there have been big problems with them and there is no end in sight to their bailouts.

I am just wondering what will meet the ax next. What are your thoughts?

If you want info about Obama dismantling F & F just google...there are lots of articles and this questions is about them.

Answer Question
 
yourspecialkid

Asked by yourspecialkid at 12:50 PM on Feb. 21, 2011 in Politics & Current Events

Level 35 (74,634 Credits)
Answers (17)
  • I hope SS and Medicare don't end.  I need them, as do a lot of people.

    CookieMom108

    Answer by CookieMom108 at 12:52 PM on Feb. 21, 2011

  • So that's it?! Obama is just going to order that they cease existing?! No accountability, no formal inquiries/investigations, no heads rolling?! Unbelievable!!
    LoriKeet

    Answer by LoriKeet at 12:58 PM on Feb. 21, 2011

  • LoriKeet, I don't know..I haven't googled up the actual report yet. I just got some snips of it. Given the people involved I wouldn't expect any accountability or head rolling....even though I would love to see Bahney Fwank sweating under a cross examination!
    yourspecialkid

    Comment by yourspecialkid (original poster) at 1:05 PM on Feb. 21, 2011

  • From what I gather, the problem is that Fannie and Freddie are really unhealthy investments for the American people. There is too much volatility, and they are having to run at a loss because of the low rate that they lend at. The banks now, instead of getting money from Fannie and Freddie will have to find their own funding.

    Social security will not go, but we have been told for years now that we will probably only expect 60-someodd percent of what we have been promised, regardless of who is in office. There are TONS or retireds, now, that are living much longer than expected, and they are using up the funds that we are putting in. The only way to fix that would be to raise retirement age OR increase or deposits. So, expect that to happen sometime withing the next decade. There is no way to salvage that problem otherwise.

    Medicare will continue, although, they may have to cut some unneeded approved services.
    ImaginationMama

    Answer by ImaginationMama at 1:07 PM on Feb. 21, 2011

  • Given the people involved I wouldn't expect any accountability or head rolling....even though I would love to see Bahney Fwank sweating under a cross examination!


    ***


    Agreed...as a native Bostonian having lived within his district, I support that!! :o)

    LoriKeet

    Answer by LoriKeet at 1:18 PM on Feb. 21, 2011

  • Medicare won't go anywhere - how can it when it's going to be illegal for any American not to have health coverage? I'm glad to see F&F go, but I agree with LoriKeet, there should be some major consequences for those in charge who let it come to this.
    scout_mom

    Answer by scout_mom at 1:31 PM on Feb. 21, 2011

  • Freddie and Fannie have been a disaster waiting to happen and they should go or they will be needing a bailout from the taxpayers. As for Medicare, there are ways to add to the coffers, as with Sicial Security. The Washington crew do not pay into these funds. Make a mandatory contribution to both just as the public does. I also agree with term limits or a mandatory retirement age of 65 for all: The representatives of the people. At that time they can draw off of their SS and we no longer will pay outrageous pensions to them.
    foreverb3

    Answer by foreverb3 at 4:14 PM on Feb. 21, 2011

  • Anyone who worries about Social Security not being available when they retire should start saving money now. Do not rely on our feeble-minded government to take care of you when you're older.... you are just a number to them, they don't care.
    brandyj

    Answer by brandyj at 5:19 PM on Feb. 21, 2011

  • I wish Barney Franks had to stand and explain himself. That would be sweet!. (not you sweet.....but sweet)
    jesse123456

    Answer by jesse123456 at 6:16 PM on Feb. 21, 2011

  • We can only hope
    itsmesteph11

    Answer by itsmesteph11 at 9:01 PM on Feb. 21, 2011

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