Great News - President Bush won't Veto Housing Stimulus Package

President Bush dropped his opposition Wednesday to a broad housing stimulus package aimed at bolstering the sagging economy.

Just hours before the vote by the House of Representatives , President Bush said he will not Veto the Housing Stimulus Package that is aimed primarly at what some saw as a bailout for neighborhoods hit hardest by foreclosures.

The House was expected to vote on the bill Wednesday, and it could become law as early as this week

"Bush had objected to the neighborhood grants, which would be for buying and fixing up foreclosed properties, saying that they were aimed at helping bankers and lenders, not homeowners who are in trouble"

It was a dramatic split for Bush and congressional Republicans, many of whom are angrily opposed to the housing legislation, which they call a handout for irresponsible homeowners and unscrupulous lenders

In my opinion, this is a great move by the President.

In areas surrounding Phoenix, Tempe, Mesa, Peoria and other parts of the east valley communites are in dire need of support.

I hear the Republicans desire not to use the dreaded "bailout'.

There is a moral , ethical (not financial) responsibility by Government to make all efforts to avert a national crisis and a recession.

Please share your thoughts, Democrats, Republicans and all of us concerned Americans.

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James Wexler , Wexzilla - Phoenix | Scottsdale Real Estate Blog