$35 Billion Slated for Local Housing:
The Obama administration is close to committing as much as $35 billion to help beleaguered state and local housing agencies continue to provide mortgages to low- and moderate-income families, according to administration officials.
The move would further cement the government's role in propping up the housing market even as some lawmakers push to curb spending at a time of rising debt.
Can't possibly see anything that could go wrong with this plan. No conceivable downsides here, no siree.
Um...wasn't government intervention in the housing market to encourage more Americans to own homes part of the reason we ended up in the current economic mire?