Owning a home on $7.25 an hour

I know this has been all over the conservative talk shows, but I couldn’t resist.

Nancy Pelosi is apparently so obsessed with her dislike for people opposed to her ideology that government can fix everything, she seems blinded to logic or even common sense. Her latest effort at exposing nefarious plots is that Republicans held down the minimum wage to benefit their friends the bankers. If that seems strange, here is her logic (a generous term in this case). By not raising the minimum wage it forced these workers to use credit cards and to take home equity loans thereby benefiting the bankers who lend money, all Republicans no doubt. To hear these tales you would think only conservative Republicans comprise the wealthy in America. Somebody should tell her Warren Buffet, George Soros, most of the Hollywood elite, John Kerry and oh yes, Mr and Mrs Pelosi are Democrats.

Today after the three increases she touts, the federal minimum wage is $7.25 per hour. For the typical work year that is an annual income of $15,080 barely above the poverty level for a family of two ($14,710) and in real terms below the poverty.

We all know from experience that in the liberal world people earning at these levels are prime candidates for mortgages, but in the real world individuals earning the minimum wage are hardly good risks for mortgages, home equity loans or credit cards, nor should they seek such financial obligations.

Outrageous claims and finger-pointing are by no means limited to the political left, but give me a break, aren’t you insulted that any politician thinks you will swallow this dribble?