Word: plan
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...President Barack Obama described this stark reality in his recent speech rolling out an expensive plan to keep the housing market from sinking further. Picture "a young family," he suggested. "They save up. They search. They choose a home that feels like the perfect place to start a life. They secure a fixed-rate mortgage at a reasonable rate, make a down payment, and make their mortgage payments each month. They are as responsible as anyone could ask them to be." (Read: "Will President Obama's New Housing Plan Work...
...census. The latest gloomy estimates suggest that upwards of 6.4 million homes are at risk of sinking into foreclosure by the end of 2012. That number has no precedent, and its impact is only beginning to register. Populist pundits have struck a nerve with angry denunciations of Obama's plan. "See if we really want to subsidize the losers' mortgages," CNBC's Rick Santelli demanded - and the gut level reaction of millions of taxpayers across the country was, unquestionably, no. Not if we have a choice. (Read: "How to Fix the Housing Market...
...Both the rant and the laments are too broad. Not everyone who has fallen behind on a mortgage is a loser complicit in the housing collapse. And not every solvent American has broken faith with those who are struggling. Obama, in presenting his mortgage plan, promised to distinguish between the sinners and those unlucky bystanders dragged down by the economy's undertow. His lifeline, he insisted, will not "rescue the unscrupulous or irresponsible." Delivering on that promise is vital to Obama's future, because hope is a tough sell to people who believe that only the wicked prosper. And though...
...speech full of criticism for President Barack Obama's stimulus plan, Louisiana Governor Bobby Jindal singled out one program for particular scorn. "Instead of monitoring volcanoes, what Congress should be monitoring is the eruption of spending in Washington," Jindal said, deriding the $140 million appropriated to the U.S. Geological Survey (USGS) for "something called volcano-monitoring" as one of the most egregious bits of pork to lard up the $787 billion stimulus package. But to those who live under the looming threat of flowing lava, it was a poor punch line. "Does the governor have a volcano in his backyard...
...take gas measurements. We try to pull all this information together to give the public the best practical information we have about what's likely to happen - whether we think it's going to erupt, whether signs of unrest are minor and will diminish - so that people can plan. (See pictures of volcanoes...