A $15,000 homebuyer tax credit? For everyone?

Having already thrown the kitchen sink at housing without promoting the kind of stability they had hoped, our elected officials are now heading into the bathroom to grab the toilet.

Senator Johnny Isakson, a Georgia Republican and retired real estate broker, introduced a bill today that would raise the homebuyer tax credit to $15,000 and make it available to all buyers, regardless of income. Connecticut Democrat Chris Dodd is co-sponsoring the bill

"One of the biggest problems facing the American people today is an illiquid housing market, a decline in their equity, a decline in their net worth and a depression in the housing market that we are obligated to correct if we possibly can," Isakson said in a statement.