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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: Crimson Ghost who wrote (6052)	1/23/2004 8:59:18 PM
From: mishedlo	Read Replies (2) of 110194

Here is pure insanity Congressional Quarterly ... BUSH URGES FULL FUNDING OF DOWN PAYMENT AID FOR HOME BUYERS President Bush today called on Congress to fully fund a newly authorized program to help low-income home buyers with down payment expenses. In a speech before the U.S. Conference of Mayors, Bush urged lawmakers to provide his full fiscal 2005 budget request of $200 million for the program, which was enacted last year (PL 108-186). "As you know better than me, many citizens have the desire to own a home, but they don't have the dough to make the down payment," Bush said. "And therefore, they balk at making the decision. So we want to help families with down payments, and we've now got a plan to do so. Congress needs to fund it. It's authorized. It now needs to be funded." Bush also he would "talk to the Congress about allowing the federal home administration to permit zero percent down payment loans to low-income Americans. That needs to happen in order to encourage more home ownership."

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