Santelli's rant has been splashed everywhere. While I don't agree with everything he said, I totally get the sentiment. My husband and I bought a fairly modest house that we could readily afford when we were both working. Now that my job is gone, we're using savings to pay our bills and mortgage. We're scraping by, but we're watching our savings dwindle down.
We haven't walked away from our mortgage because we put 25% down. We have a decent interest rate, but would love to refinance. We can't though. We won't qualify for a new mortgage now that I'm no longer employed.
It is terribly wrong that someone with no skin in the game (yes, I mean you 0% downers) can walk out of a mortgage that they shouldn't have entered into in the first place. Then, they can buy a short-sale house and profit off the foreclosure, entering into a much lower % mortgage than I have...and qualify for bailout assistance.
So yeah, I totally get the anger behind the tea party. It's an economic meltdown of serious proportions...it rewards irresponsible fiscal behavior. And, it's going to mean that I struggle for years not just under the burden of my own choices (which I am fully responsible for), but under the added weight of the poor choices and bad acts of others.
Stimulus? The only people feeling stimulated are the financially irresponsible and economic freeloaders. Oh, and of course those going on 'executive retreats' on my dime.
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