The Foreclosure Crisis in Housing

The Obama Administration has this week devised a $75 Billion program to deal with the housing crisis, which has magnified in recent months and can be seen as one of the major causes of the economic downtown over the past year.

The plan is designed to assist homeowners in danger of losing their homes, which does not just affect them, but also their neighbors who have seen the effect of the foreclosure crisis in the rapid decline in property values of their own homes, as much as 40-50 percent in some parts of the nation, particularly Arizona, Nevada, California and Florida. 

But again, despite the reality of the crisis, the GOP is on the attack without offering any better alternative, and this reality sadly includes Senator John McCain, who despite his state’s suffering, is unwilling to cross the aisle and support the President in his plans.  Earlier, he had mouthed the idea of bipartisanship, but when the actual opportunity has arisen, McCain instead has been an obstructionist.  This is a sad situation, but it also makes one happy that McCain did not win the Presidency, as one has to doubt that he would have been aggressively attacking the economic crisis had he been in the White House.

So one has to conclude that fate has played a role in putting Obama in office, ready to take action and deflect criticism, confident in his ability to accomplish his goals!

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