Wednesday, February 18, 2009
President Obama today unveiled a $75 billion plan to keep as many as 9 million Americans from losing their homes to foreclosure. Using existing money already approved by Congress, the plan will provide incentives to mortgage lenders to renegotiate rates with homeowners in order to avoid further foreclosures, a wave of which last year triggered the housing crisis that has helped propel the economic meltdown.*...The plan is the "third leg" in Obama's economic recovery stool, following the bank bailout and jobs creation package. The stool will be sold at IKEA and is called "Ohshyitweerfjooked."
To underscore the suffering the housing crisis has caused for everyday Americans, Obama unveiled this video illustrating where they're feeling the pain:
*...based on actual news