In 2302 we glossed through many aspect of the budget, and the institutions budgetary money is allocated to. I'll fill in details over the rest of the semester when relevant stories appear.
Here is one from the NYT. Obama is proposing a gradual abolishment of Fannie Mae and Freddie Mac, two government sponsored enterprises that backup the mortgage industry.
The Obama administration released a broad outline on Friday for the future of housing finance in the United States, calling for a substantial reduction in government support for the mortgage market but providing few concrete details about how it should be accomplished.
In a 31-page report, the administration proposed that the two mortgage lending giants, Fannie Mae and Freddie Mac, should be gradually abolished within 10 years at most, and it gave Congress three options for reducing the government’s role in supporting homeownership. It did not recommend an option; instead, the document was intended to set parameters for what is certain to be a heated and protracted debate.
The story is also covered in Politico.
Here is the administration's report to Congress with the proposal.
CBO Budgetary Treatment of Fannie Mae and Freddie Mac.
