CALVIN WOODWARD and JIM KUHNHENN
February 25, 2009
WASHINGTON – President Barack Obama knows Americans are unhappy that their taxes will be used to rescue people who bought mansions beyond their means.
But his assurance Tuesday night that only the deserving will get help rang hollow.
Even officials in his administration, many supporters of the plan in Congress and the Federal Reserve chairman expect some of that money will go to people who used lousy judgment.
The president skipped over several complex economic circumstances in his speech to Congress — and may have started an international debate among trivia lovers and auto buffs over what country invented the car.
A look at some of his assertions:
OBAMA: “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.”
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