A Tax Credit Where Credit Is Due

Another homebuyer tax credit, that is.  Could the Obama administration throw an even larger tax credit our way, and this time for all Americans to benefit from, in order to be the defibrillator to the cardiac arrest the housing market is in?

HUD Secretary Shaun Donovan, appearing on CNN's State of the Union this weekend, didn't rule out another tax credit. He did say it's "too early to say," but then added that "we're going to be focused like a laser on where the housing market is moving going forward, and we are going to go everywhere we can to make sure this market stabilizes and recovers."

After that several Congressional candidates in Florida threw their voices behind the possibility, and Florida Gov. Charlie Crist then chimed in on the same show, saying that another tax credit, "would stimulate the economy. It would increase home sales in Florida." He finished with: "I would absolutely encourage the president to support that because it would certainly help my fellow Floridians."

Or should we let the patient go under and liquidate what's left?  Hmm, there's that argument again:  stimulation versus liquidation.  Funny how it's always big business on the side of liquidation and letting the chips fall where they will...