Risking a veto, the House today passed a bill to eliminate a $1 billion program meant to help recently unemployed Americans avoid losing their homes to foreclosure. Dallas Rep. Jeb Hensarling, the No. 4 GOP leader in the House, authored the bill. He argued today that deficit reduction trumps the foreclosure-mitigation goal, especially since similar programs have proven ineffective and this one hasn't even started yet.
"It's not out the door. Nobody's used that money," he said in the floor debate, arguing that with federal government adding a record $226 billion to the deficit last month alone, something has to give. "But everybody says essentially, not in my backyard, not with my programs, not today. let's kick the can down the road."
Obama threatened earlier this week to veto the bill if it reaches his desk.
http://www.dallasnews.com/business/headlines/20110308-obama-issues-rare-veto-threat-aimed-at-hensarling-sponsored-bill.ece
Source: http://trailblazersblog.dallasnews.com/archives/2011/03/hensarling-bill-sails-through.html
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