According to reports this morning there is a new amendment providing for an $8000 tax credit for first time home buyers. If this is indeed the case, then these clowns in government have to go.

The Senate approved a $15,000 tax credit in the original bill that passed. It would have given ANY home buyer, regardless of income or being a first time buyer, the tax credit an not require it to be paid back.

This newly leaked “compromise” is only $8000 and only applies to first time home buyers who would buy a home between Jan 1 and Aug 31 of this year.

If this is truly the case then it is no better than the current $7500 credit that exists today. Keep in mind, the current $7500 credit has seen 4,000 applications and only 114 people getting it. A complete joke to say the least. It doesn’t work.

You just have to scratch your head at these guys in Congress. Leave in the pork and cut out the real stimulus. How many people would go out and buy a home with the incentive of a $15,000 tax credit? It would help to stimulate the housing market and be a real shot in the arm for many first time home buyers.

It certainly would be better than spending $20 million on the study of field mice in San Francisco! How does that stimulate the economy? Our government is amazing. This is change we can believe in?