<quoted text>Bush caved in to the loudmouth progressive anti-war dolts. Iraq could have been a parking lot in a couple of weeks. You can't win a war while trying to build schools and using our troops as social outreach counselors.
Stupid people who can't figure out simple math have no business "buying" a home with no money. No matter what the Black Congressional Caucus says.
Obama turned a bad situation, caused by his own cohorts in the democrat party, into an opportunity to implement his Marxists policies. We can see how that is working out.
Yes, those "Marxist" policies.
S. 811 (108th): American Dream Downpayment Act
Introduced:Apr 08, 2003 (108th Congress, 2003–2004)
Sponsor:Sen. Wayne Allard [R-CO]
Status:Signed by President
President Bush Signs American Dream Downpayment Act of 2003
This is not my first time here, nor will it be my last. I am here today because we are taking action to bring many thousands of Americans closer to owning a home. Our government is supporting homeownership because it is good for America, it is good for our families, it is good for our economy.
One of the biggest hurdles to homeownership is getting money for a down payment. This administration has recognized that, and so today I'm honored to be here to sign a law that will help many low-income buyers to overcome that hurdle, and to achieve an important part of the American Dream.
The rate of homeownership in America now stands a record high of 68.4 percent. Yet there is room for improvement. The rate of homeownership amongst minorities is below 50 percent. And that's not right, and this country needs to do something about it. We need to --(applause.) We need to close the minority homeownership gap in America so more citizens have the satisfaction and mobility that comes from owning your own home, from owning a piece of the future of America.
Last year I set a goal to add 5.5 million new minority homeowners in America by the end of the decade. That is an attainable goal; that is an essential goal. And we're making progress toward that goal. In the past 18 months, more than 1 million minority families have become homeowners. And there's more that we can do to achieve the goal. The law I sign today will help us build on this progress in a very practical way.
Many people are able to afford a monthly mortgage payment, but are unable to make the down payment. So this legislation will authorize $200 million per year in down payment assistance to at least 40,000 low-income families. These funds will help American families achieve their goals, and at the same time, strengthen our communities.
The dream of homeownership should be attainable for every hardworking American. That's what we want. In this act of Congress I'm going to sign, the regulations that I hope are finalized soon will help thousands of families fulfill the dream.