Jeff Merkley actually said...

"The cloud of foreclosures, the five to eight million additional foreclosures is a huge problem for our economy."

"My point is that if you are going to do a substantial discount, why not give individual families who have suffered with so much difficulty in this economy the chance to be a homeowner first and take a..."

"I look at the fact that we subsidize homeownership through the home mortgage interest deduction, about $100 billion a year, roughly."

"Thank you, Mr. Chair."