Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsObama hammers Republicans on yet another piece of legislation left undone: home refinancing
Obama hammers Republicans on yet another piece of legislation left undone: home refinancing
by Susan Gardner
Nearly every weekly address in the past six weeks has been a challenge from the president to Congress for members to get off their collective ass and pass some legislation that will help middle-class Americans suffering in the economic crisis to get back on their feet. This morning's is no differentPresident Obama called on legislators to pass a bill that would help homeowners refinance their mortgage for an savings of approximately $3,000 a year.
He opened his address pointing to a rise in construction and indications that the housing market is seeing glimmers of recovery, and he touted various policies his administration has undertaken to try to urge recovery along over the past few years.
Extending those refinancing benefits is the goal of the plan the president sent to Congress, he said. But nothing's going to happen because of Republicans. He blasted them more directly than usual in closing this morning's address.
- more -
http://www.dailykos.com/story/2012/10/20/1147285/-Obama-hammers-Republicans-on-yet-another-piece-of-legislation-left-undone-home-refinancing
by Susan Gardner
Back in February, I sent Congress a plan to give every responsible homeowner the chance to save about $3,000 a year on their mortgage by refinancing at historically low rates. Thats the equivalent of a $3,000 tax cut.
Its a plan that we know will work. It has the support of independent, nonpartisan economists and leaders across the housing industry. Its a no-brainer that should have passed easily.
But Republicans in Congress banded together and kept this plan from even coming to a vote.
Nearly every weekly address in the past six weeks has been a challenge from the president to Congress for members to get off their collective ass and pass some legislation that will help middle-class Americans suffering in the economic crisis to get back on their feet. This morning's is no differentPresident Obama called on legislators to pass a bill that would help homeowners refinance their mortgage for an savings of approximately $3,000 a year.
He opened his address pointing to a rise in construction and indications that the housing market is seeing glimmers of recovery, and he touted various policies his administration has undertaken to try to urge recovery along over the past few years.
We teamed up with attorneys general in almost every state to investigate and crack down on the practices that caused this mess. And in the end, we secured a $25 billion settlement from the biggest banks one of the biggest settlements in history and used it to provide relief to families all across America.
Weve taken action to help responsible homeowners refinance their mortgages. As a result, just this year hundreds of thousands of Americans who were stuck in high-interest loans have been able to take advantage of historically low rates and are saving thousands of dollars every year.
Extending those refinancing benefits is the goal of the plan the president sent to Congress, he said. But nothing's going to happen because of Republicans. He blasted them more directly than usual in closing this morning's address.
They banded together and prevented millions of Americans including many of you listening today from saving $3,000 a year. Thats money that could have gone back into the value of your home, or your kids college savings account. Thats money that could have gone into your local businesses, so they could hire and create more jobs in your town.
But Republicans in Congress still wont let that happen. And thats only held back the economy, when we should be doing everything we can to accelerate our economic engine.
Lets be honest Republicans in Congress wont act on this plan before the election. But maybe theyll come to their senses afterward if you give them a push. So contact your Representative, especially if this plan will help you or someone you know. Tell him or her that American homeowners have waited long enough. Tell them that its time for Congress to stop standing in the way of our recovery and to start standing up for you.
- more -
http://www.dailykos.com/story/2012/10/20/1147285/-Obama-hammers-Republicans-on-yet-another-piece-of-legislation-left-undone-home-refinancing
InfoView thread info, including edit history
TrashPut this thread in your Trash Can (My DU » Trash Can)
BookmarkAdd this thread to your Bookmarks (My DU » Bookmarks)
2 replies, 723 views
ShareGet links to this post and/or share on social media
AlertAlert this post for a rule violation
PowersThere are no powers you can use on this post
EditCannot edit other people's posts
ReplyReply to this post
EditCannot edit other people's posts
Rec (7)
ReplyReply to this post
2 replies
= new reply since forum marked as read
Highlight:
NoneDon't highlight anything
5 newestHighlight 5 most recent replies
Obama hammers Republicans on yet another piece of legislation left undone: home refinancing (Original Post)
ProSense
Oct 2012
OP
Z_California
(650 posts)1. Yes, here it comes
Now we shine a light on the traitors in Congress. Things could happen quickly in elections. Let's get this freight train rolling!
Blanks
(4,835 posts)2. You can count on them making certain 'In God We Trust'...
Will still be on our money.
Just in case anyone ever threatens to take it off.