Mar 26, 2008 7:32 pm US/Central
Bush Addresses Mortgage Mess
President Says Americans Can Get Through Tough Times With 'Some Information And Some Help'
FREEHOLD, N.J. (CBS) ―
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President George W. Bush speaks about Protect America Act in the Oval Office of the White House Feb. 13, 2008 in Washington, DC.
Kristoffer Tripplaar-Pool/Getty Images
President Bush traveled to a credit counseling center Friday
to promote a plan to assist homeowners caught up in the mortgage foreclosure
crisis.
"There are some homeowners that have made responsible buying decisions,
and they can keep their homes with just a little help," the president
said. "Some information and some help."
Outside, demonstrators mocked his efforts and pushed for more aggressive
federal intervention.
"It's not enough to provide counseling," Rep. Frank Pallone said.
"President Bush has to step in and say, 'You shouldn't lose your home.'"
But President Bush had his fans there.
"I believe he's a good leader and believe in his instincts and I still
have faith in him," Lisa Andrus said.
In Monmouth County, N.J., home foreclosures are occurring at the
rate of 200 a month,
CBS station WCBS-TV reported. It's difficult territory for
President Bush. Residents fear the economy is getting shaky. Outside a
supermarket, Richard and Marion Leveque were shopping carefully.
"Social security goes up 2 percent, gas goes up 30-40 percent, besides all
the food," Richard Leveque said.
"We both used to go to our favorite diner, twice a week," Marion
Leveque said. "We cut that out, which is fine. We don't need the extra
weight."
President Bush is hoping people like the Leveques will keep the faith.
Democrats in Congress plan to push a measure next week to have the government
back up some $400 billion in troubled loans. But the efforts have already drawn
stiff opposition.
(© MMIX, CBS Broadcasting Inc. All Rights Reserved.)
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