Political Quotes

“If his chairman, Mr. Rangel, and Mr. Frank had had their druthers, not to mention the Speaker, this would have been a far better bill than it is today. It would have included the extension of unemployment insurance and food stamp benefits; it would have helped out States with their Medicaid funding crisis. It would also have included home mortgage foreclosure mitigation which has had a tremendous impact upon thousands of families throughout the country. We know that a one-time payment of $600 will do nothing to help a family facing foreclosure, as some 250,000 American families are expected to do every month this year. The Bush White House insisted that this mortgage foreclosure counseling be taken out over the objections of Mr. Frank, and it is a darn shame when this could have had such a positive impact. The impact of home foreclosures isn't limited to the lender and borrower, as we so well know. They have a negative impact on the entire community. The reality is that across this country over the ensuing year there will be nearly 45 million homes that will be foreclosed on. This will shrink the local property tax base by $223 billion this year as a result of the foreclosure of home mortgages.”