Tomorrow, President Obama arrives in Nevada to push another piece of his jobs plan: new federal rules allowing homeowners to refinance at lower interest rates. Unlike the rest of Obama's jobs plan, this provision doesn't require congressional approval. The program is estimated to save households $2,000 per year, freeing up money that Americans can spend. Given Republicans' refusal to pass the other pieces of the president's jobs plan thus far, aid to homeowners seems like a potential bright spot for the president. But, as a report from the Washington Post details this morning, the administration's efforts to help struggling homeowners since 2009 have failed; of the $50 billion the administration initially pledged to help homeowners, only $2.5 billion has been spent.
- Jobs Plan Stalled, Obama to Try New Economic Drive The New York Times
- European Leaders Deal Directly with Debt Dilemma The New York Times
- Senate Dems to Force Another Vote on Jobs Plan Talking Points Memo
REASON TO GET OUT OF BED THIS MORNING
On Sunday night, Will Ferrel became one of the youngest comedians to receive the Mark Twain Prize for American Humor in a ceremony at the Kennedy Center.