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Donald Trump's latest idea to empty the American economy and harm the middle class is a Doozy. Trump wants to privatize 70% of mortgages funded in the United States.
Trump posted on Truth Social:
Our major mortgage agencies, Fannie MAE and Freddie Mac, provide an essential service to our nation by helping workers to reach the American dream – property. I work to make these companies incredible public, but I want to be clear, the US government will keep its guarantees implicit, and I will remain strong in my position to supervise them as president. These agencies are now doing very well and will help us to make America again great!
Trump discusses the potential privatization of most of the mortgage financing system in the United States. The property is already out of reach of too many Americans. If the system was to be privatized, guarantees that the trumps are implicit, but are explicit, would have disappeared, it would therefore be a drop in interest rates and a large number of programs that are intended to help everyone, disabled people, veterans, the Americans of the working class to buy a house.
The head of the Senate minority, Chuck Schumer, answered Trump's idea saying:
Trump's housing proposal to privatize Fannie and Freddie is another economic policy that will overthrow the American class Americans who seek to buy or refinance a house while helping the pockets of the rich.
Experts have warned for years that the privatization of Fannie and Freddie – which finance 70% of the American mortgage market – would threaten the financial security of the Americans in the middle class, which makes it more difficult and more expensive to buy a house. The average family could be struck by an increase of $ 1,800 to $ 2,800 of annual mortgage costs.
However, Trump and his friends see only the opportunity to loot the state, regardless of the cost of working hard families and our wider economy.
Imagine having a house and your mortgage costs increase by almost $ 3,000 per year. Trump's plan would be another fatal blow for the wider economy, but that would allow him and his friends to steal another part of the government to get rich.
Trump's patterns are all motivated by the singular motivation of redirecting national wealth up, which is why the privatization of Fannie Mae and Freddie Mac would do.
Every day of the Trump presidency is used to weaken America.
What do you think of Trump's mortgage scam? Share your reflections in the comments below.