Bush Threatens to Veto Housing Legislation

Debate ensued this past Wednesday between Democrats and Republicans regarding a plan designed to help homeowners in danger of foreclosures. The Democrats had hoped to coming to a bipartisan consensus on the legislation, since that would lead to more readily available federal-insured mortgages to aid borrowers in refinancing their loans. Unfortunately, the White House remarked on Tuesday night that it opposed the bill, and President Bush proceeded to speak out strongly against it. A general disagreement ensued during Wednesday’s meeting.

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