Will the White House Veto The FHA Trust Fund Proposal?

by Peter G. Miller
October 10th, 2007

Is it possible that the White House might actually wind up vetoing FHA reform?

According to Reuters, the White House has “threatened to veto Democratic-written legislation designed to provide affordable housing for low-income families, saying it opposed the way a newly-created trust fund would be financed. (See: idUSWAT00824920071009″>White House threatens to veto housing bill)

“While the administration said it supports helping the poor gain housing, it ‘strongly opposes the establishment of an Affordable Housing Trust Fund financed by diverting Federal Housing Administration (FHA) receipts and housing-related Government Sponsored Enterprises (GSEs) revenues.’”

You have to wonder why is it that whenever the debate concerns money — and in some way it always concerns money — the poor and the middle class always seem to wind up with nothing. It’s always a matter of principle, yet somehow principle seems to consistently favor big corporations and hedge fund managers but not people who merely go to work everyday.

To some extent the issue here is Democrats versus Republicans and liberals versus conservatives. But the real issue is that Washington is increasingly out of touch with the middle class and when last I looked the poor and the middle class are a big part of the citizenry. This is a mistake in a political environment, with a presidential election not far in the future, and with a lot of angry voters who don’t see their paycheck getting larger, their lives getting better or money they send to Washington coming back home.

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This entry was posted on Wednesday, October 10th, 2007 at 12:37 pm and is filed under , . You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

One Response to “Will the White House Veto The FHA Trust Fund Proposal?”

  1. Rachel Says:

    I?m totally addicted to this site. Thanks for posts!

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