As talks in Washington heat up on a plan to save the economy and consumers from going over the “fiscal cliff,” surveys reveal that a majority of Americans side with President Obama on many of the key points.
The Obama Administration is sharing the thoughts of middle-class Americans in its push to avoid tax increases next year that are put of the package of closing tax breaks and new spending cuts known as the “fiscal cliff.”
At his first news conference following re-election, President Obama today cut straight to the meat of his message: the vast majority of Americans cannot see a tax hike.
Republican presidential candidate Mitt Romney has a lot riding on convincing the voters in the pivotal swing state of Florida that the foreclosure crisis there is deepening and that lending is virtually frozen, as at least one new political ad states.
The Obama Administration’s bailouts of the banking and auto industries are well documented and by some measures successful, but that cannot be said of the president’s handling of the foreclosure crisis.
The Obama Administration’s latest update to its foreclosure prevention program, which lawmakers and consumer advocates have said is falling short of its goal, has hit one million permanent mortgage modifications.
President Obama is pushing for Congress to help expand mortgage refinancing to millions of borrowers with loans not backed or owned by Fannie Mae and Freddie Mac – and those who cannot currently take advantage of historically low interest rates.
Through March 2012, the Obama Administration’s primary foreclosure prevention campaign has 794,748 borrowers paying a median of $535 less in mortgage payments - but that represents 43 percent of those who started modification trials over the past three years.
The White House website now has a “Buffett Rule Calculator” that invites Americans to quickly figure how many U.S. millionaires pay a less effective federal tax rate than they do.
President Obama focused his weekly radio and Internet address on urging Congress to increase taxes on millionaires and billionaires, renewing his proposal to enact the so-called Buffet Rule – although it has little chance of passing in a heated election year.