Schumer Pokes Bush On Dropping Housing Veto

Democrats welcome President Bush’s decision to drop his veto threat against the housing bill expected to come to the House floor today, but Sen. Charles Schumer (D-N.Y.) couldn’t help getting in the rhetorical equivalent of a Bronx cheer.

“The president had no choice, but it's better he did it sooner rather than later,” Schumer said as he opened a hearing of the Joint Economic Committee.

Schumer said that vetoing legislation that carried a rescue plan for Freddie Mac and Fannie Mae fashioned by his own Treasury Secretary would have sent a horrible message to the markets: “I don’t give a hoot about the economy or even what my Treasury secretary thinks about the economy.”