The Daily Hatch

Sen. Paul Delivers State of the Union Response – Jan. 24, 2012

Uploaded by SenatorRandPaul on Jan 24, 2012

President Obama’s state of the union speech Jan 24, 2012

President Obama c/o The White House
1600 Pennsylvania Avenue NW
Washington, DC 20500

Dear Mr. President,

I know that you receive 20,000 letters a day and that you actually read 10 of them every day. I really do respect you for trying to get a pulse on what is going on out here.

The Heritage Foundation website (www.heritage.org ) has lots of good articles and one that caught my attention was concerning your State of Union Speech on January 24, 2012 and here is a short portion of that article:

Disappointing Housing Hype – David John

One of the disappointing aspects of President Obama’s speech was that the much hyped housing section was little more than a re-warmed proposal from last fall.  And that was just a re-working of several earlier failed versions that failed to work.  Sadly, this version is unlikely to be any more successful.

While details are lacking, the President promised to allow homeowners to refinance mortgages in a way that would reduce their payments by about $3,000 a year.  Earlier, there had been speculation that he would announce a way for homeowners to have the amount of their loan reduced, but after the Federal Housing Finance Agency (FHFA) noted that such a plan would cost taxpayers an additional $100 billion in subsidies to Fannie Mae and Freddie Mac, that plan seems to have been dropped.

Housing remains a serious problem for our economy, but no matter what the President wishes, no federal program is likely to fix the problem.

Thank you so much for your time. I know how valuable it is. I also appreciate the fine family that you have and your committment as a father and a husband.

Sincerely,

Everette Hatcher III, 13900 Cottontail Lane, Alexander, AR 72002, ph 501-920-5733, lowcostsqueegees@yahoo.com