Hilarious: HUD Stooge Says Obama Housing Plan Will Expand ‘Strong Recovery’

Posted by on Aug 06, 2013 at 8:57 am

In advance of the failed president’s appearance with Jay Leno tonight, apparently word has gone out that all of Obama’s minions should crack funny today. They’ve started off with a howler.

Housing and Urban Development Secretary Shaun Donovan on Tuesday touted President Obama’s housing proposals, saying they would help accelerate the market’s “strong recovery” and prevent another mortgage crisis.

“We are seeing a strong recovery,” Donovan said on MSNBC’s “Morning Joe.” “The president is going to make sure… that our housing market keeps recovering so that we do see money coming back to the taxpayers.”

Obama is expected to outline his proposals to reform the housing system, including winding down government-backed mortgage giants Fannie Mae and Freddie Mac, in Phoenix, against the backdrop of that city’s rebounding housing market. Fannie and Freddie received a $187 billion taxpayer-funded bailout in 2008.

So about that so-called strong recovery.

The Home Affordable Modification Program, which is supposed to help homeowners who are having difficulty, is seeing a large number of people default again. According to a new government report, more than 163,000 of the 600,000 homeowners who have received permanent loan modifications through the Home Affordable Modification Program have ended up defaulting.A total of $815 million in taxpayer funds has been spent on loans that re-defaulted. The taxpayer funding was primarily paid to the banks and loan services in incentives to modify those defaulted mortgages. Experts believe the modifications apparently were not significant enough to help borrowers stay in their homes for the long haul.

So taxpayers taking a bath for $815 million signals a strong recovery? Really? In the most recent reports, housing starts were down nearly 10%. So why don’t we believe the Obama flunky who’s just making things up?

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5 Responses to “Hilarious: HUD Stooge Says Obama Housing Plan Will Expand ‘Strong Recovery’”

  1. Hank_M on 6/06/13 at 11:08 am

    Everything Obama and his people say are the exact opposite of what is happening. Obama keeps talking about strengthening the middle class, but everything he does screws the middle class even more.

    Sadly, they’re all shameless liars.

  2. bour3 on 7/07/13 at 7:26 am

    You don’t understand. Apparently you are in denial of positive thinking and its converse negative thinking, which I’m not even going to mention because that energizes it. You see, if flunkey says it a thing is so that leads to actually believing it and believing it causes it to happen. Therefore the strength of beliefs, new ones, must be powerful to influence all our beliefs that together our beliefs bring about the reality that is so clearly seen and believed. Reality is what you make it.

  3. derfel cadarn on 7/07/13 at 8:21 am

    They need to legalize whatever these people are smoking, it would make the rest of us far more pliable.

  4. George B on 7/07/13 at 8:52 am

    Surprise surprise! People who couldn’t afford their home a couple years ago still can’t afford their home. At least there are now more buyers for the homes of the re-defaulted.

    I’m seeing a weird housing market here in the suburbs of Dallas. Demand is strong right now and there is a shortage of houses for sale, but home builders are not racing to fill that demand with new construction. There is a general sense that the strong demand is driven by a desire to buy before interest rates and inflation shoot up, not by economic recovery. Unusual combination of reckless money and cautious businesses.