Obama’s mortgage relief plan in a nutshell: rewarding deadbeats and punishing responsibility. He’s going to help out those who lived beyond their means, while those who managed their risk get nothing except the bill to pay for all this.

His plan actually makes housing less affordable to all homeowners and prospective buyers because prices will not be able to correct via the foreclosure mechanism as they otherwise are currently. He’s going to shortcircuit the market to “help” keep people in homes that have no business being in their homes in the first place.

Oh, and it doesn’t help those who are being forced from their homes because they can no longer afford the taxes imposed by the municipalities and states that are scrambling for more tax revenues.

Besides, only 7% of the nation is facing a distressed mortgage or is in foreclosure. The rest of us are making our payments on time, own their homes outright, or are renting.