Home > posts > Obama Admin Hiding FHA’s Need for a $688 Million Bailout
October 5th, 2012 3:24 pm
Obama Admin Hiding FHA’s Need for a $688 Million Bailout

Dan Murphy at National Review found another possible debating point for Mitt Romney:

Tucked away in President Obama’s 2012 budget proposal was a little-noticed provision telling Congress that it may need to provide $688 million to cover the FHA’s projected losses this fiscal year. Translation: The FHA will need a bailout for the first time in its 75-year history.

A short-term solution by the Department of Housing and Urban Development covered up FHA’s growing financial problem until mid-November, i.e. after the presidential election.

Mitt Romney should clue-in the American people on this failure before they vote.

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