| Romney’s Housing Plan: Still Elusive
paign believes in he posiions se ou in he deailed “Pah o Prosperiy” blueprin orhe Ryan budge ha Budge Commitee Chairman Ryan released.
Let foreclosures continue
I you believe ha he marke is always righ, hen you would believe ha “he marke”should be lef alone o evenually deal wih oreclosures. Cerainly ha is where Gov.Romney sared las Ocober when he old
Las Vegas Review Journal
’s ediorial board ha he oreclosure crisis jus had o “run is course and hi he botom.”
By he ime he go o Florida in January, however, he had backed away rom he pureree marke approach: “Te idea ha somehow [he housing marke] is going o cureisel all by isel is probably no real. Tere’s probably going o have o be a much moreconcered eor o work wih he lending insiuions and help hem ake acion whichis in heir bes ineres and in he bes ineres o he homeowners.”
Bu hen in Nevada no much laer, he had his exchange wih FoxV abou homeown-ers acing oreclosure:FOX5 asked, “I you’re presiden, can hey expec he ederal governmen o help hemsave heir home, or are hey on heir own?”“My view is ha he bes hing ha he ederal governmen can do o help is o gehis economy growing again, o have good jobs wih raising incomes,” Gov. Romney responded. “I people are looking or someone o promise ha hey’ll wrie hem a check,ha he governmen will give hem money, hey should voe or Presiden Obama.””
Te remark is conusing because i suggess Gov. Romney does no see he criical link beween he economic disrupions o oreclosures, he weak housing marke, and heslow economic recovery ha many economiss—including conservaive policy advisorso pas Republican presidens—have repeaedly noed.Marin Feldsein, who chaired Presiden Ronald Reagan’s Council o Economic Advisers, is one leading example. He has saed, “Te all in house prices is no jus adecline in wealh bu a decline ha depresses consumer spending, making he economy weaker and he loss o jobs much greaer. We all have a sake in prevening ha.”
Moreover, wha would Gov. Romney acually do as a “concered eor” o help home-owners, especially i he means ha no governmen unds are involved? Answers arecompleely missing rom any deailed plans rom his campaign.