Obama Plan Would Help Responsible Homeowners Save Money on Mortgage Interest Rates
This week, the White House will outline its plan to jumpstart the economy by help- ing homeowners who are current on their payment of a
Fannie Mae or Freddie Mac-sponsored mortgage to take advantage of an all- time low in 30-year fixed rates.
Unlike the failed American Jobs Act of 2011, the strategy this time around is that the Democratic Senate will intro- duce legislation that gives shape to the President's plan.
Senators Barbara Boxer of California and Robert Menendez of New Jersey are expected to introduce the measure this week.
While the prospects for passage through the Republican House remain steep, this approach will put GOP mem- bers of Congress on the defensive, as it would be a huge boon to the economy for homeowners to save money on their Fannie Mae or Freddie Mac- backed mortgage by locking in lower rates and using the additional dispos- able income for other household needs (such as consumer goods, household repairs, energy and transportation costs, education costs, etc).
At a very minimum, it is entirely possi- ble that the GOP will have to compro- mise on this issue rather than ignoring it entirely—especially if the proposal gathers steam as a populist economic proposal.
Report: Black and Hispanic Students Still Under- perform on Science Tests; Improvement is Slow
According to a recent report from the National Assessments Governing Board, the average African-American or Hispanic 8th grader still performs below basic achievement in science, although performance has slowly increased. The National Assessment of Education Progress (NAEP), also known as the nation’s report card for 8th grade science, showed that the average score rose from 150 in 2009 to 152 last year—a statistically significant increase—but was still below the 170 needed to be considered proficient.