February 18th, 2009
12:52 PM ET
9 years ago

Republicans, analysts question Obama's foreclosure plan

President Obama's $75 billion home foreclosure plan would benefit 9 million borrowers.

President Obama's $75 billion home foreclosure plan would benefit 9 million borrowers.

WASHINGTON (CNN) - Even before President Obama unveiled his home foreclosure plan Wednesday afternoon, some Republicans and political commentators questioned how exactly it would work to stave off a crisis plaguing the country.

House Republican Whip Eric Cantor, R-Virginia, along with Minority Leader John Boehner, R-Ohio, sent a letter Wednesday to the president "seeking clarification on six important questions about [Obama's] broad housing proposal," according to a press release from Cantor's office.

Obama unveiled his $75 billion multipronged plan in Phoenix, Arizona, that seeks to help up to 9 million borrowers suffering from falling home prices and unaffordable monthly payments.

But there could be fierce resistance among Republicans and some conservative Democrats on Capitol Hill.

Already, top Republicans want several questions answered, an early sign that Obama may once again face stiff opposition to the plan when it comes before Congress. Last week, not one House Republican voted for his economic stimulus package, and only three GOP senators voted for the bill.

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Filed under: President Obama
soundoff (139 Responses)
  1. Tesap:Savannah, GA

    Where werethe questions before we got into this mess... the writing was on the wall?????

    February 18, 2009 02:41 pm at 2:41 pm |
  2. Truth Hurts

    Whats new? The conservatives questions everything Obama does!! Too bad they did not question Bush and maybe we would not be in the mess we are in. If Obama do half way good he is doing good considering that he inherited this jacked up economy!! We have to do something and everybody will not be happy so get over it conservatives and lets start working together!!

    February 18, 2009 02:45 pm at 2:45 pm |
  3. jaye

    Not one republican will have anything good to say about the foreclosure plan – they'll pick it to death and rant and rave until their mindless sheep agree with them.
    The GOP are nothing but Obstructionist – and they are shameful!

    February 18, 2009 02:46 pm at 2:46 pm |
  4. Samuel

    Is there anything Republicans are not questioning???????....

    They need to understand one thing: You screwed the market for 8 years so shut up and give us a chance to fix it.

    February 18, 2009 02:47 pm at 2:47 pm |
  5. Dutch/Hampton Roads, VA

    Who cares what republicans think? Let them analyze all they want. If they plan on being bipartisan as they were during the A.R.&R.A. debate, they can keep their comments to themselves.

    February 18, 2009 02:48 pm at 2:48 pm |
  6. Richard

    how about giving me the ability to deduct the lost value of my home? rediculous – just another way of rewarding under achievement and mediocrity. No, we are not all winners. If you cannot pay your mortgage, do what generations have done before us – accept your loss and move on.

    February 18, 2009 02:48 pm at 2:48 pm |
  7. Arden

    Whatever is going to help americans during this time of crisis the Republicans and your conservative Democrats are going to screw it up. People you don't get it, they want to destroy Pres. Obama's Presidency. They will stop at nothing if it means they can make Pres. Obama look bad and fail.

    February 18, 2009 02:49 pm at 2:49 pm |
  8. Bob in Pa

    Excuse me, I don't think it is just Republicans that question his plan. How about changing the headline to "Concerned analysts and average American citizens question Obama's foreclosure plan"

    February 18, 2009 02:51 pm at 2:51 pm |
  9. kuriya

    Are republicans not going to question anything Obama says or do. Why can't they come with their own plan. This people Cantor and whatever other negative person's name is should be ashamed of themselves. I hope they kick them out of power. People who question anything thing someone does needs mental help.

    February 18, 2009 02:52 pm at 2:52 pm |
  10. Melissa

    Republicans, shut up.

    February 18, 2009 02:52 pm at 2:52 pm |
  11. Matthew, Detroit


    Let me see. You cant afford it, you should not have bought it, You are stupid.

    Okay you get the Money.

    You paid your loan. You pay your bills. You work hard.

    Nope. NO money for you.

    February 18, 2009 02:52 pm at 2:52 pm |
  12. Tom

    How about every home owner get the same amount of help and not those who more than likely over extended themselves in the first place!

    February 18, 2009 02:53 pm at 2:53 pm |
  13. Susan

    Please stop the 'Replubican' 'Democrat' crap.

    America wants our economy strong again!

    February 18, 2009 02:56 pm at 2:56 pm |
  14. Will-South Dakota

    Even before President Obama unveiled his home foreclosure plan Wednesday afternoon, some Republicans and political commentators questioned how exactly it would work to stave off a crisis plaguing the country.

    How about these pundits and critics and the GOP leadership say something positive for a change and standout as supporting the American taxpayer, homeowners who simply doign their best to make it.

    February 18, 2009 02:58 pm at 2:58 pm |
  15. Debby

    Lets all not pay our mortgages and let Obama bail us out. The key factor for this stimulous was to create jobs and jump start the economy. It wasn't to bailout the beer drinkers with champagne taste that can't pay their mortgages now, or the slobs that have been collecting welfare for years and don't want to work.

    February 18, 2009 02:59 pm at 2:59 pm |
  16. Angela

    Who cares what Republicans think anymore? When they come to the table with ideas rather than rhetoric, then and only then will they respectfully get the attention of most thinking Americans.

    February 18, 2009 03:01 pm at 3:01 pm |
  17. vic

    Everything President Obama does to try and get out country back on track is met with a defetest attitude – stop being so negative and give his plans and proposals a chance to work.
    What has happened to Americans? They have lost their common sense and are still in the Bush years.
    I am very optimistic about Obama's plans for our country and will not be a Bush republican who has nothing better to do than to try and defeat our new President.
    People have turned into naysaying robots that will follow their fearless negative republican pinheads into oblivion.
    You know, those conservative republicans that bankrupted our country...and want it to stay that way.

    February 18, 2009 03:02 pm at 3:02 pm |
  18. Judy

    Cantor and Boehner are going to self-destruct. They are so eager to be relevant, they continually jump the gun. First, you had Boehner holding a press conference saying he wouldn't support the stimulus bill right before the President went to meet with the republican caucus. Now you have Cantor and Boehner demanding answers before the President presented his plan. What good are they? What are their plans to get out of this foreclosure mess?

    February 18, 2009 03:03 pm at 3:03 pm |
  19. mw

    Republicans need to forego any financial help for their states since they do not like President Obama's plan. Then their constituants can vote them out of office, and life will be beautiful.

    February 18, 2009 03:03 pm at 3:03 pm |
  20. america first

    they (the racist republicans) question President Obamas plan because they are SCARED TO DEATH THAT IT WILL WORK.

    February 18, 2009 03:03 pm at 3:03 pm |
  21. Obama Victim

    how dare those nasty republicans bring some up important questions..............no place in The Messiah's administration for that

    February 18, 2009 03:07 pm at 3:07 pm |
  22. DG

    I second that, Melissa!!!

    February 18, 2009 03:07 pm at 3:07 pm |
  23. Melissa

    I really don't get why Americans blame the poor for being poor. Lose your job? Its your own fault whether the company you worked for went under or not. Charged way too much for your bills by greedy corporate execs? Its your own fault no matter what the company does. Paid way too little for the amount of work you do? Its your fault, not the fact that you can't find a job anywhere else to save your life because there are no jobs to be had anywhere in the market.

    That seems to be the American mantra, no matter how abused you are by others, its never the bad peoples fault, its always yours.

    There is something fundamentally wrong with that kind of insane mindset and it needs to change. If it doesn't, America is on its way out.

    February 18, 2009 03:09 pm at 3:09 pm |
  24. Jerry D.

    People who bought just to get ahead will not benefit from this plan. The President is not bailing out the rich people who want relief. They didn't play by the rules. Sorry when you had the chance you should have sold sold sold.

    February 18, 2009 03:09 pm at 3:09 pm |
  25. Tori

    I know everyone is all upset that we have to pony up the dough but the alternatives are worse. During the great depression republicans and everyone was all like," Free markets they will figure it out". That didn't happen and then we entered deep trouble with high unemployement and hell. I still remember stories from my Grandpa of everyone losing their farms and him having to stay with 10 family members in a one bedroom house. We either go through 10 years of hell or we bite the bullet and fix this crises! When you have banks failing, jobless claims rising, and home foreclosures rising this is no ordenary recession. The market is broken and is not willing to fix itself right now because it has no incentive to do so.

    February 18, 2009 03:09 pm at 3:09 pm |
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