The CDC ordered a temporarily halt to residential evictions on Sep 4, 2019, effective through Dec 31, 2019: “Under this Order, a landlord, owner of a residential property, or other person ^[3] with a legal right to pursue eviction or possessory action, shall not evict any covered person from any residential property in any jurisdiction to which this Order applies during the effective period of the Order.”

Landlords were thereby ordered to bear the brunt of this ‘unconstitutional order,’ and suffer the consequences. And many of them will likely lose their properties, and U.S taxpayers will foot the bill on the unpaid mortgage balances.

As Ronald Reagan so famously remarked in his 1981 inaugural address, “In this present crisis, government is not the solution to our problem, government IS the problem. It isn’t so much that liberals are ignorant, it’s just that they know so much that isn’t so.”

Government is indeed the problem. We need now more than ever, a comprehensive economic plan that returns America to a ‘citizen-centered’ nation.

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Taxpayers On The Hook For Nearly Half Of Apartment Building Mortgages

ZeroHedge, Dec 23, 2020 – Excerpts:

Via SchiffGold.com,

This is not the ideal time to own an apartment building. Millions are struggling to pay rent and despite the extension of the federal eviction moratorium through Jan. 31 in the latest stimulus bill, a lot of people will likely face eviction in the coming months. According to data released in November, 17 million households are behind on rent or mortgage payments.

Of course, this has a trickle-down effect. If renters can’t pay their rent, that makes it difficult for apartment building owners to keep up with their mortgage payments. If they default, who’s on the hook?

Increasingly, the US taxpayer.

Total outstanding mortgages on multifamily housing property stood at $1.65 trillion in Q3. That was up by about $31 billion from Q2, according to data compiled by the Mortgage Bankers Association. Of that amount, the federal government backs $798 billion. That’s 48.4% of all mortgages on multifamily properties.

Uncle Sam backs these loans through Government Sponsored Enterprises (GSEs), such as Fannie Mae and Freddie Mac, along with government agencies such as Ginnie Mae. GSEs often securitize these loans into commercial mortgage-backed securities (CMBS) that are sold to investors. This practice with single-family home mortgages led to the housing crisis in 2008.

In simple terms, government-backed means that the US taxpayer is ultimately on the hook for any losses.

The US government got into multifamily real estate debt during the 2008 financial crisis. According to WolfStreet, up to that point, government-backed multifamily debt was about on par with the holdings of banks and thrifts. Since then, the government’s share (blue line in the chart below) has shot up to nearly 50%.

At this point, apartment building owners are holding on by the skin of their teeth, hoping the pandemic relents and the economy improves. If not, we could see a lot of mortgage defaults on the horizon. The situation is particularly dire in big cities where there is an exodus of people and plunging rents. As WolfStreet put it, “Landlords anywhere afflicted by renters not making rent payments, protected by eviction bans, are still trying to make mortgage payments on their rental properties, hoping that the surge in vacancies and non-payment of rents are short-term phenomena and that people will come back and fill those apartments and that tenants will catch up with the rent.”

If not, taxpayers will once again be left holding the bag.

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There is one plan in America with the raw power to resolve this economic catastrophe and set our nation back on track for for long-term health and prosperity.

The Leviticus 25 Plan – An Economic Acceleration Plan for America

$90,000 per U.S. citizen – Leviticus 25 Plan 2021 (3906 downloads)

The U.S. Congress band-aid approach to our train-wreck Covid economy has done nothing to provide any meaningful ‘financial security’ benefits for American families.

The latest stimulus bill extends the moratorium on evictions from rental evictions with a ‘trickle’ of back-rent payments to severely distressed landlords and multi-family apartment owners.

The U.S. Congress’ approach to this whole thing is a farcical mess…

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CNBC: National eviction ban will be extended through January in stimulus deal

Published Mon, Dec 21 20201:42 PM EST / Annie Nova@AnnieReporter

Excerpts:

A bipartisan coronavirus aid deal that lawmakers struck on Sunday will extend the national eviction moratorium through January and establish a rental assistance fund of $25 billion.

The relief comes as the Centers for Disease Control and Prevention’s eviction moratorium was set to expire at the end of the month. More than 14 million Americans — or 1 in 5 adult renters — said recently that they’re not caught up with their rent, according to The Center on Budget and Policy Priorities.

“This aid is badly needed,” said Douglas Rice, a senior policy analyst at The Center on Budget and Policy Priorities. “The CDC order prevented a wave of evictions this fall, and the extension will avert a large wave in January.”

The $25 billion in rental assistance is expected to be disbursed by state and local governments and be able to be used by renters for arrears as well as rent and utilities. To qualify, renters will likely need to be low-income.

That aid could keep between 2 million and 8 million families in their homes over the next few months, Rice said. “This is a big step in the right direction, yet it’s likely not enough,” he added.

Emily Benfer, an eviction expert and visiting professor of law at Wake Forest University, said $100 billion is necessary to cover the back rent owed.

“Make no mistake, the relief bill is a stopgap measure,” Benfer said. “Without additional supports, the eviction crisis will lead to catastrophe and jeopardize the health and safety of millions of adults and children.”

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Note: Congress’ current ‘Stimulus’ plan, which none of them have had the time to read, because it is nearly 5,600 pages long, will sink America deeper and deeper into debt, with no ‘road map’ back up to fiscal sanity.

The Leviticus 25 Plan, which is easily readable at 26 pages long, will provide inestimable financial security benefits for all American families, for small business and main street America, protect the U.S. Dollar as the world’s reserve currency, and put America back on track for long-term financial health and viability as a nation.

The Leviticus 25 Plan is a dynamic economic initiative providing direct liquidity benefits for American families, while at the same time scaling back the role of government in managing and controlling the affairs of citizens.  It is a comprehensive plan with long-term economic and social benefits for citizens and government.

The inspiration for this plan is based upon Biblical principles set forth in the Book of Leviticus, principles tendering direct economic liberties to the people.

The Leviticus 25 Plan – An Economic Acceleration Plan for America

$90,000 per U.S. citizen – Leviticus 25 Plan 2021 (3904 downloads)

“In this present crisis, government is not the solution to our problem, government IS the problem. It isn’t so much that liberals are ignorant, it’s just that they know so much that isn’t so.” – Ronald Reagan

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Federal Taxes Are Sending An S.O.S Signal

ZeroHedge, Dec 15, 2020 – Excerpts:

Submitted by Joseph Carson, former chief economist at Alliance Bernstein

Data on federal tax receipts paints a grim picture of the state of the US economy. Weak tax receipts are sending a signal of economic distress. Congress needs to act with urgency and pass federal support legislation to help broad parts of the economy.

Federal withheld income tax receipts represent hard contemporaneous data. Tax receipts are current and complete, unlike other economic data series such as household and payroll employment, which are based on a sampling of a small percentage of the working population and businesses.

The pandemic hit the economy in March, triggering widespread job loss and partial and full closing of many small businesses. In November, 9 months into the pandemic, federal gross withheld income tax receipts were off 13% from a year ago. That is roughly in line with the average decline of 15% recorded over the 9-month span, March through November.

Checking the tax data records from the US Treasury the decline in tax receipts over the last 9 months is the largest on record. The only comparable period is the 14% drop in 2009 during the Great Financial Recession.

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Congress has been negotiating for several months a second federal stimulus package. But political fighting over the scale and who gets support and who doesn’t has so far stymied a bi-partisan deal. I don’t support big government, but the federal government is supposed to step up during a crisis.

Taxes are sending an S.O.S signal, saying that significant parts of the economy are experiencing severe distress. Anyone in Congress that is on the fence over whether a second stimulus bill is necessary needs to look no further than the tax data.

Investors have been patient, banking on Congress to build a bridge of fiscal support until medical science develops a vaccine. Medical science has done its job, but Congress has not. If Congress doesn’t act soon the speculative gains in the equity markets could quickly reverse in scale.

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Congress “stepping up” with big-government stimulus programs has done nothing to solve any of America’s underlying problems, namely massive debts, ever-growing dependence on government, stifling bureaucratic business environment, and eroding economic liberty.

It is time for a powerful new comprehensive/decentralizing plan to get America back on track. It is time to abandon the big-government model and return to a citizen-centered, citizen-driven economy.

The Leviticus 25 Plan is a dynamic economic initiative providing direct liquidity benefits for American families, while at the same time scaling back the role of government in managing and controlling the affairs of citizens.  It is a comprehensive plan with long-term economic and social benefits for citizens and government.

The inspiration for this plan is based upon Biblical principles set forth in the Book of Leviticus, principles tendering direct economic liberties to the people.

The Leviticus 25 Plan – An Economic Acceleration Plan for America

$90,000 per U.S. citizen – Leviticus 25 Plan 2021 (3896 downloads)

Massive mismanagement by government – and nobody in Washington has a plan to fix it. Add in about $350 billion in interest charges to ‘carry’ that debt over the course of those 16 years, and you end up with a tidy sum of $2.6 trillion.

There is a way out of this mess….

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Feds Admit $2.3 Trillion In Improper Payments

ZeroHedge, Dec 5, 2020 / Submitted by Adam Andrzejewski,

Excerpt:

Since 2004, twenty large federal agencies have admitted to disbursing an astonishing $2.25 trillion in improper payments. Last year, these improper payments totaled $175 billion – that’s about $15 billion per month, $500 million per day, and $1 million a minute.

But what exactly is an improper payment?

Federal law defines the term as “payments made by the government to the wrong person, in the wrong amount, or for the wrong reason.”

When people or companies receive incorrect payments, it erodes trust and hinders the government’s ability to finance everything from defense to health care.

Recently, auditors at OpenTheBooks.com published a 24-page oversight report analyzing why, how, and where federal agencies wasted our tax dollars last year.

Here are the top 10 takeaways regarding improper and mistaken payments by the 20 largest federal agencies in 2019:

1. Total Mistakes: $175 billion in estimated improper payments reported by the 20 largest federal agencies, averaging $14.6 billion per month – Total (FY2004-FY2019): $2.25 trillion.

2. Worst Programs – $121 billion (approximately 69 percent) in improper payments occurred within three program areas – Medicaid, Medicare, and Earned Income Tax Credit.

3. Claw Back – only $21.1 billion of the $175 billion improper payments during 2019 was recaptured — that’s only 14 cents on every dollar misspent. Five-year total: $103.6 billion recaptured/ $747.7 billion improperly spent

4. Biggest Offenders:

5. Dead people: $871.9 million in mistaken payments were made to dead people. Medicaid, social security payments, federal retirement annuity payouts (pensions), and even farm subsidies were sent to dead recipients. Root cause: failure to verify death. Four-year total: $2.8 billion

6. Ancient Americans: Six million Social Security numbers are active for people aged 112+; however, only 40 people in the world are known to be older than 112 years of age.

7. Worst Upward Trend: Medicaid and Medicare improper payments soared from $64 billion (2012) to $88.6 billion (2017), and, in 2019, to $103.6 billion. Five-year total: $456 billion

8. Best Turnaround: In 2018, the Education Department overpaid $6 billion to college students receiving PELL grants and student loans. In 2019, improper payments were reduced to $1.1 billion – an 85-percent reduction.

9. Improper Income Redistribution: $17.4 billion in improper payments by the Internal Revenue Service (IRS) within the Earned Income Tax Credit program. 25-percent of all payments were improper. Five-year total: $84.35 billion

10. Purchasing Power: What can $175 billion buy? Last year, the federal government wasted the equivalent of a full year of all federal salaries, perks, and pension benefits for every employee of the federal executive agencies. A stunning example of institutionalized incompetence.

Justifications for their improper payments vary by agency.

For example, Veterans Affairs (VA) says they are working on the problem and, yet, have a long way to go:

“During FY19 testing for improper payments, VA found that many root causes of improper payments still have not been remediated. While the VA is actively working corrective actions to remediate these complex problems, VA completes its statically valid testing for Improper Payments Elimination & Recovery Act) one year in arrears…”

The Internal Revenue Service (IRS) flat out admits that their improper payments ($17.4 billion FY2019) will continue:

“… the IRS does not have the resources to audit every return claiming return tax credits… Without legislative change to greatly improve effective tools to administer these credits, the improper payment rate will not drastically change.”

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Government programs, of all types, are riddled with fraud. They are all open invitations for graft, and mismanagement, and outright political payoff schemes.

And they are driving us deeper and deeper into the national debt hole. The U.S. Dollar will eventually be hit with a gut-wrenching depreciation phase – which will, in all likelihood, lead into a Central Bank Digital Currency global monetary system. And that will be an outright disaster to the cause of freedom and liberty, and self-determination for all citizens.

The Leviticus 25 Plan is a powerful counter-force against these pressures.

It will reduce dependence on government programs and eliminate massive amounts of government spending. It will generate enormous tax revenue gains for state, local, and federal government agencies – and set America back on track for annual budget surpluses.

Te time is now – to activate the most powerful economic acceleration plan in the world.

The Leviticus 25 Plan is a dynamic economic initiative providing direct liquidity benefits for American families, while at the same time scaling back the role of government in managing and controlling the affairs of citizens.  It is a comprehensive plan with long-term economic and social benefits for citizens and government.

The inspiration for this plan is based upon Biblical principles set forth in the Book of Leviticus, principles tendering direct economic liberties to the people.

The Leviticus 25 Plan – An Economic Acceleration Plan for America

$90,000 per U.S. citizen – Leviticus 25 Plan 2021 (3890 downloads)

America does not need, and should not seek after, a grand new socialist plan for ‘wealth redistribution. What America needs is to grant U.S. citizens the same direct access to liquidity flows that have been so generously provided to major banks and other ‘connected’ large corporations…

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The Daily Shot, Nov 30, 2020: Many Americans are about to lose their emergency unemployment benefits, widening the “K-shaped” recovery gap.

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ZeroHedge, Nov 30, 2020: American billionaires haven’t been just immune to the pandemic, they have been thriving in it, drastically increasing their collective wealth. An analysis by Chuck Collins at the Institute for Policy Studies found that American billionaires have been their wealth grow by $1 trillion since March of this year – more than 34 percent. That was not the case during the 2008 financial crisis when it took Forbes’ 400 richest people three years to recoup their losses from the Great Recession. Collins’ findings highlight a wealth gain by a mere 650 individuals that, as Statista’s Niall McCarthy notes, seems obscene at a time when nearly 7 million Americans are at risk of eviction when moratoriums expire at the end of the year.

Note – The billionaires listed above, and many, many others in the ultra-wealth class have benefited from massive amounts of direct government subsidies, outright bailouts, and various forms of specially tailored tax breaks.

Warren Buffett, for example, has owned (or currently owns) significant stakes in Wells Fargo, Goldman Sachs, JPMorgan Chase, Bank of America, BNY Mellon, and U.S. Bancorp. The Federal Reserve (through special lending facilities and discount window lending) and the U.S. Treasury (through TARP and targeted stimulous programs) have transfused these large banking interests with hundreds of billions of dollars.

Elon Musk’s Tesla, has receive subsidies of approximately $2.44 billion via 109 ‘awards’ involving “82 federal grants and tax credits as well as 27 state and local awards.”

According to subsidy-tracking by Propublica, “JPMorgan Chase was among the eight large U.S. banks to receive the Treasury Department’s initial round of capital investments — money described by Treasury officials not as a bailout, but rather as funds to help bolster “healthy” banks in tough times.”

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It is now time to “help bolster” ‘healthy American families going through their own ‘tough times.’

U.S. citizens deserve nothing less than to be granted the same opportunity for direct liquidity extensions that were provided, in massive amounts, to Wall Street’s financial sector, on an ongoing basis over the past 12 years.

The Leviticus 25 Plan is a dynamic economic initiative providing direct liquidity benefits for American families, while at the same time scaling back the role of government in managing and controlling the affairs of citizens.  It is a comprehensive plan with long-term economic and social benefits for citizens and government.

The inspiration for this plan is based upon Biblical principles set forth in the Book of Leviticus, principles tendering direct economic liberties to the people.

The Leviticus 25 Plan – An Economic Acceleration Plan for America

$90,000 per U.S. citizen – Leviticus 25 Plan 2021 (3884 downloads)