David Axelrod Connects the Dots on $50 Billion Housing Program Due this Week
David Axelrod was on media tour this morning, trying to ratchet spirits and expectations around President Barack Obama’s plan to map out a $50 billion-plus program to stem foreclosures and stabilize housing prices.
Here’s the topline from the Wall Street Journal’s account of Axelrod’s infomercial on what Main Street and the financial markets should expect in this week’s plotline.
Speaking on “Fox News Sunday,” senior adviser David Axelrod said the plan that President Barack Obama plans to announce on Wednesday will aim to stem foreclosures, provide immediate help to homeowners who are “right on the edge” of foreclosure, and ultimately help in “raising home values that have been plummeting.”
Mr. Obama plans to unveil his housing plan during a visit to Phoenix. As part of his swing through western states, he is set to stop in Denver Tuesday, when he will sign the $787 billion economic-stimulus plan just passed by Congress.
Mr. Axelrod provided few details of the housing plan, but said a government investment of $50 billion to $100 billion to fund foreclosure prevention “is obviously a necessary part.” He promised that the plan would contain “a lot of aspects.”
Later, Axelrod zipped over to NBC’s studios in DC to to carry the crusade farther on “Meet the Press.” Here’s the clip.
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