Santa Rosa, CA, June 23, 2010 -- This deterioration has fired up those calling for a double dip in the economy. If housing is slipping back into the mud, they contend, so will everything else until another shot of taxpayer-funded stimulus California First Time Home Buyer Information - FHA Loan Resources for First Time Home Buyers in California[/url] ) gooses the numbers higher again. Given recent warnings from Moody's and S&P about the possibility of the US losing its triple A credit rating by slipping too far in debt, the choice between a sinking economy and a sinking balance sheet will be a tough one. Well, it would be for anybody but the government, which seems to never find it tough to choose higher.As I have said before, softness in housing and autos frequently leads the economy into recessions, and housing and auto sales are almost always the driving force that pulls the economy out of recessions.Unfortunately, this time the housing industry fell not only into a recession but a depression, with a record decline in home prices and home sales, and record level of defaults and foreclosures, such that it didn't stand a chance of pulling itself out of the hole. It took dramatic government support and stimulus efforts, including providing first time home-buyers with a down-payment via the rebate program and the Fed buying more than $1 trillion of mortgage-related securities. Both programs expired in April.Jeffrey Martino Young at Essex Mortgage Bank in Santa Rosa,Ca,95404 toll free 1-877-9870-2676 or onthe webat http://www.fhasubmissions.com