Wednesday, February 25, 2009

In Address to Joint Session of Congress, Obama Offers Hope for the Economy

Last night, President Obama gave his first address to a joint session of Congress, discussing everything from the economy and education, to health care and national security. In his speech, Obama spoke about the hope that both the "American Recovery and Reinvestment Act" and the "Homeowner Affordability and Stability Plan" will bring Americans. Regarding the Administration's plan keep people in their homes, Obama said:

We have launched a housing plan that will help responsible families facing the threat of foreclosure lower their monthly payments and refinance their mortgages.

It's a plan that won't help speculators or that neighbor down the street who bought a house he could never hope to afford, but it will help millions of Americans who are struggling with declining home values, Americans who will now be able to take advantage of the lower interest rates that this plan has already helped to bring about. In fact, the average family who refinances today can save nearly $2,000 per year on their mortgage.

You can view the entire transcript of his speech here. To view a portion of this address, please watch the video below.

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