Statement from Senator Barack Obama on President Bush's Decision to Support the Bipartisan Housing Bill

Chicago, IL - Below is a statement from Senator Barack Obama on President Bush's Decision to Support the Bipartisan Housing Bill:

I'm heartened that the President has decided to support this bipartisan bill that will help ensure that mortgages remain affordable for American families and to prevent hundreds of thousands home foreclosures. In the months since this housing package was announced, nearly a million additional families have faced foreclosure, and our economy has continued to deteriorate. We cannot wait for a million more foreclosures before taking additional action to help struggling families and strengthen our economy. That's why I've also proposed a second stimulus of at least $50 billion with energy rebates for families struggling with high gas prices, relief for states facing budget cuts, and additional measures to protect homeowners from foreclosure.