The President has been blamed for not turning the economy around, for not creating jobs and now when he wants to do what he can within his power, without the authorization of Congress to lessen the financial burden for some who are struggling to pay their mortgages and keep their homes; well now, the Republicans are blaming him for the housing crisis. Typical.
But let's be real here ok?
The Republicans want to give banks LESS regulation. Isnt that what got us into this mess in the first place? The greed of the bankers? Also, like myself, the buying homes larger than we can afford. The President is being dogged for not delivering on his promise to provide relief to 9 million homeowners; he did for 1.7 million. This step to have those with Fannie Mae and Freddie Mac backed loans, approximately 10 million homeowners, can help increase that number.
Now there are those that say this won't turn the economy around and they're right, the President never claimed it would. What it does do, is help to lessen the monthly payment on hopefully 10 million mortgages and those 10 million households will use that savings as consumers, putting a little bit back into the economy. With a party of no, who in the Senate wouldnt even vote on his jobs bill, what other choice does the President have? It worked in Libya, why not for the housing crisis? He bailed the banks out, he's their boss and they better start listening.
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