Obama Announces Funding For Housing Finance Agencies

Today, the President plans to announce a $1.5 billion funding plan for “states where the average prices for homes have fallen more than 20 percent from their peak.” It so happens to be that the two states that will be highly affected by this funding are two states that appear to have a close election coming up in November 2010. The President is attempting to demonstrate his emphasis on the current economy especially during a two-state Western state swing that comes as he’s trying to bolster the chances of Democrats in November’s elections” Colorado an Nevada’s employment rate is still far lower than the national average but it is clear that their housing foreclosures are running high. With the elections coming up soon, Obama wants to give hope to the individuals in the states and protect the congressional spots. Although it is important for him and his administration to help fundraise to keep democrats in Congress, I think it is important to focus on other issues that affect more than just a few states. The unemployment rate in those two states is far lower than the average, so why not work on those who have no source of funding?