The Boston Globe on the home-foreclosure plan President Obama unveiled yesterday:
"Warning that doing nothing would cost all Americans, Obama presented a three-part plan that contains $75 billion to help modify loans for as many as 4 million struggling homeowners, a change in mortgage rules to help as many as 5 million homeowners refinance into lower-cost loans, and a pledge of $200 billion to bolster mortgage giants Fannie Mae and Freddie Mac."
The Globe puts together an FAQ on the housing program.
The New York Times: "The plan, which was more ambitious and expensive than many housing analysts had expected, drew praise from consumer advocates as well as the financial industry."
The Times' Zeleny makes this smart point about all of Obama's travel so far as president -- it's been to presidential battleground states (CO, FL, IN, OH, VA) that went from red to blue in November. "The president deviated from his pattern for the first time on Wednesday, appearing in Arizona to present his plan to help homeowners avoid foreclosure. Arizona, of course, voted for its favorite son Senator John McCain for president in November, but Democrats consider the state a ripe target to bring into their column the next time around."
"Given these early destinations, is the president already eyeing re-election? No, his advisers say. But Mr. Obama makes little effort to sidestep the fact that his political fortunes will almost certainly rest on the actions he takes during the early months of his term."
The AP's headline: "Some GOP governors may reject stimulus aid," "a move opponents say puts conservative ideology ahead of the needs of constituents struggling with foreclosures and unemployment."
This takes some chutzpah… "Now that the massive $787 billion package has passed the House without a single Republican vote and cleared the Senate with just three centrist Republicans in favor, a number of GOP members of Congress have seemingly changed their tunes and are now touting money that will flow into their districts." Rep. John Mica (R-FL) for one lauded Obama's "recognition that high-speed rail should be part of America's future," he said in a statement.