Obama: House GOP holding up progress for homeowners

Recycling a message that has driven his weekly addresses for more than a month, President Obama on Saturday again faulted Republicans in Congress for "banding together" and blocking legislation that would allow homeowners to refinance their mortgages at lower rates.

"One of the heaviest drags on our recovery is getting lighter," the president said, noting that "construction workers are breaking ground on new homes in America at the fastest pace in more than four years. At the same time, more homes are being sold. Home values are back on the rise. And foreclosure filings are at their lowest point in the five years since the housing bubble burst and left millions of responsible families holding the bag."

Crediting his administration with "taking action to help millions of Americans stay in their homes," Mr. Obama celebrated the $25 billion settlement from the biggest banks whose practices "caused this mess," and said he's been able to help hundreds of thousands of responsible homeowners take advantage of historically low rates by refinancing their mortgages.

"I never believed that the best way to deal with the housing market was to just sit back, do nothing, and simply wait for things to hit bottom," he said. "That would have been a disaster for all the responsible families who - through no fault of their own - were struggling to make ends meet."

Now, the president continued, he wants "every homeowner in America" to have the chance to refinance their mortgages. "I just wish it didn't require an act of Congress," he said. A plan he sent to the Hill in February - "a no-brainer that should have passed easily," he said - would offer homeowners the chance to refinance and save $3,000 a year on their mortgage payments.

"Let's be honest: Republicans in Congress won't act on this plan before the election," Mr. Obama concluded. "But maybe they'll come to their senses afterward, if you give them a push."

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Flake: "Bell has rung" on "recess from fiscal sanity"

Delivering the GOP response, though, Rep. Jeff Flake, R-Ariz., seized on a new report that the Obama administration will post a $1.1 trillion deficit for the 2012 fiscal year, and cited a 10 percent dip in home values over the past few years as what "we have to show for this prolonged and record-setting federal spending."

"President Obama undoubtedly inherited a fragile economy, but he's done little to improve it," Flake said, arguing "House Republicans have passed a budget that addresses our challenges head-on."

A candidate for the U.S. Senate in Arizona, Flake pointed to his state as being a "microcosm for regulatory overreaches." Policies "forcing state and local governments to shell out precious dollars, just to get off the regulatory hook for dust storms they can't prevent or control," he said, indicate "no end to the regulatory appetite of this administration."

Flake, who endorsed Mitt Romney last year, concluded: "It is my hope that the recess from fiscal sanity that the last four years have represented is over. As bad as our fiscal challenges are, it's not too late. The bell has rung and it is time for us to get to work."

[ammo17]

let me see this administration did nothing for the peple who were thrown out of their homes because this administration did nothing for the people of this country whose homes were taken over by corrupt bankers and mortgage companies,millions of us were without homes and yet this adminisration instead of prosecuting these scum of the earth they bail them out with our money and not one is prosecuted for fraud and corruption.this was the biggest i repeat biggest ponzi scheme,bigger then madoff,that has ever occurred in the modern world and almost put us in another depression.

[logictoo]

Corrupt Bankers? Man borrows $100,000 from bank. Banker hands seller the $100,000. Seller is satisfied. Man lives in house for five years and can't make payments for whatever reason. Bank forecloses. Bank sells house for $50,000. How did corrupt banker make money, government cover his loss?

[beakeeper]

That's a lie! The mortgage crisis snowballed right as Obama took office.

Because of this administration I was able to sell my home to a friend who received the $8,000 stimulus package. That in turn allowed him to buy a car, which put money back into the economy. And now he is refinancing at a very low rate. Save your lies!

[PhilipASC]

(MORE)Proof Republicans Don't Care About You--Bills Republicans Have Blocked Since President Obama Took Office

Senator Franken's Anti-Rape Amendment to the Defense Appropriations Bill - Makes it so that women raped overseas while working for foreign contractors have the right to have their case heard in an American court instead of having their case mediated by the company they work for. Only Republican men voted against this, but it passed.

Benefits for Homeless Veterans- Would have expanded benefits to homeless veterans and homeless veterans with children. Republicans blocked this.

Affordable Health Care For America Act- Prevents insurance companies from discriminating against you on the basis of "pre-existing conditions". Requires that insurance companies spend 85 cents of every dollar that you pay on your actual health care. Limits health insurance companies profit margins. Republicans blocked this for months before it finally passed and have vowed to repeal it if they are elected.

Health Care for the 9/11 First Responders who got sick from being at Ground Zero- Would provide billions of dollars in health care to help the 9/11 First Responders who were at Ground Zero on 9/11 and are now sick because of it. Republicans blocked this.

The Jobs Bill- Offsets the payroll tax for 1 year for companies that hire new employees, or people receiving unemployment insurance. Also gives other tax incentives to companies hiring new employees. Republicans attempted to block this.

Wall Street Reform- Puts stricter regulations on the banks, preventing them from becoming "too big to fail". Curbs reckless spending practices that caused the banking crisis. Republicans attempted to block this.

American Recovery and Reinvestment Act- Pumped billions of dollars into state and local Governments to prevent us from sinking into a second Great Depression. Republicans opposed this but now want to take credit for the parts of it that we know are successful.

Oil Spill Liability- Raises the liability on what companies can be made to pay to clean up after an oil spill. Republicans blocked this.

Immigration Reform- Republican suggested comprehensive immigration reform until Obama supported it. Now they're rabidly opposed to it and even voted against their own legislation. Republicans blocked this.

Unemployment extension bill HR-4213- Would provide additional aid to the millions of Americans still on unemployment who are just trying to support themselves and their families. Republicans blocked this bill for 8 weeks before it finally passed. Republicans blocked this for 8 weeks before it finally passed.

Fair Pay Act of 2009- Also called the Lily Ledbetter bill. Requires that women receive equal compensation to men for doing the same work. Republicans attempted to block this.

The next time someone tells you that the Republicans care about the American people just give them this list of all the bill Republicans wanted to fail.

[PhilipASC]

Proof Republicans Don't Care About You--Bills Republicans Have Blocked Since President Obama Took Office

Here's just a short list of some of the bills that Republicans have blocked, or attempted to block, since Obama became President:

Tax on Companies that ship jobs overseas- A bill that would have eliminated a tax break that companies get when they ship jobs overseas. Republicans blocked this, allowing companies to keep the tax break they receive when they ship jobs to other countries.

Political Ad disclosure bill- Would have required all donors to political campaigns to reveal themselves. Republicans blocked this, not once but twice.

Subpoena Power for the Committee investigating the BP Oil Spill - Give subpoena power to the independent committee responsible for investigating BP's roll in the oil spill. Republicans attempted to block this.

The Small Business Jobs Act -would give LOCAL, community banks access to billions of dollars to loan to small businesses. Republicans blocked this, then attempted to block it a second time and failed.

The DREAM Act- Gives immigrant youth who were brought here as children a path to citizenship by earning a college degree or serving the military for 2 years. Republicans blocked this.

Repeal of "Don't Ask, Don't Tell"- Would have repealed the law that forces gay and lesbian services members to lie about their sexuality and gives the military the right to discharge soldiers based on their sexuality. Republicans blocked this many times and Democrats were finally able to pass it with the support of just 2 Republicans.

[PhilipASC]

Everyone who really cares about this country should scroll through these posts and take a moment to read hypnotoad72'a posts and watch the videos they include.

Videotape doesn't lie, people. Time after time, hypnotoad72 refutes the conservatives' lies here with solid, verifying facts and videos.

NONE of the conservatives have matched hypnotoad72's posts with anything close. Their dishonesty and shamefully poor ethics are proof, I hope, of their coming extinction.

I'm just sorry that I'm too old to be around when it happens.

(HEY, conservatives! Can you make a counter claim? Are liberals looking at extinction like YOU so clearly ARE????)

[PhilipASC]

The big story of this President's first term is the incredible extent Republicans, both in and out of Washington--including Republican business owners, have been willing to seriously harm this country's recovery just to regain power. This "flake's" misleadingly incomplete statements are a perfect example of the incredible, incredible lack of ethics in the Republican party.

I just hope that this country is smart enough not to reward them for it.

[logictoo]

The adjustable rate mortgage is now a thing of the past pretty much--If the homeowner that was foreclosed on loses his house, then who made money? The Banks? Bank lends $200,000, homeowner loses house 6 years later and Bank sells house for $50,000 who lost the most money?

[shell517nj]

The money was given to states to govern and they are sitting on it. Big issue in my state. conspiracy.

[PhilipASC]

Wow, but I believe you. The big story of this President's first term is the incredible extent Republicans, both in and out of Washington--including Republican business owners, have been willing to seriously harm this country's recovery just to regain power. This "flake's" misleadingly incomplete statements are a perfect example of the incredible, incredible lack of ethics in the Republican party.

I just hope that this country is smart enough not to reward them for it.

[Jaylah54200]

Rep. Jeff Flake, R-Ariz.

LOL. Well named!

[Yeshuratnam]

Hi! Blaming GOP?
Americans do not now give importance to debate- skill of presidential candidates. This is proved by Romney's lead in all states after the second debate. The reason for this is: Americans are literate and politically conscious, unlike Africans or Asians. Americans are not like the rabble in Iran to be stirred by speeches. Instead of Obama's performance in the debate, Americans focus on Obama's performance as president during the past 4 years: On the economic front: deep economic recession; massive unemployment. On the foreign policy front: murder of American ambassador, bloodbath in Syria, dominance of Putin in world affairs, including Syria, defiance of Ahmadinejad.
Another major problem Obama has created for Americans is that the US federal debt is still a record high. This week it passed a milestone: the fourth straight year the deficit has passed the $1tn mark. As of today, the national debt stands at $16,066,241,407,385.80 (just over $16 trillion).
Added to these woes American cities are inundated today with illegal immigrants after Obama gave them green signal, while thousands of American young boys and girls are without jobs.
So Americans are not bothered about debates, including the third debate. Will debate remove all these ills created by Obama? That's why there is a mass upsurge in favor of Romney. Many states that supported Obama last month will jump on Romney's bandwagon as the Election Day approaches

[Repubs_R_Fiscal_Liberals]

Romney talking about increasing military spending with the National Debt Clock running in the background.

http://www.youtube.com/watch?v=89BXyOlcYY0

[Repubs_R_Fiscal_Liberals]

Added to these woes American cities are inundated today with illegal immigrants after Obama gave them green signa

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Soooo.... you don't remember Reagan doing that first by granting amnesty to FOUR MILLION illegals, with no requirements for their citizenship?

[Repubs_R_Fiscal_Liberals]

HYPNOTOAD72
If our economy is like a car driving along the road and there's a huge cliff, do we hit the brakes, turn a different direction, go continue the same things and fly right off the end of it?

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Any chance of just welding a hangglider onto the car? ;)