Dateline: 06/18/02 Calling a home the "foundation for families and a source of stability for communities," President Bush has proposed three new initiatives designed to enhance existing federal home buyer assistance programs by helping African- and Hispanic-Americans buy homes.
According to the White House, fewer than half of all African and Hispanic Americans currently own their homes, compared to nearly three-fourths of white Americans. "We must begin to close this homeownership gap by dismantling the barriers that prevent minorities from owning a piece of the American dream," said the President in a nationwide radio address.
To close the homeownership gap, President Bush proposed legislation funding the following new initiatives:
This mess we are in has taken bipartisan effort in Washington.
Many of Bushes proposals never saw daylight because he was too stupid to realize what was already going on. Later, he tries three times to modify this “community investment” Acorn,freddy mac, fanny mae scam operation, and close these lending practices, but they all died on the floor.