Yahoo! reports: Obama unveils $75 billion mortgage relief plan.
President Barack Obama says his $75 billion plan to tackle "a crisis unlike any we've ever known" in home foreclosures is necessary to help save the economy.
Obama unveiled the plan in Arizona, hard-hit by the housing crunch. More expensive than expected, it aims to keep 9 million people from losing their homes.
$75B/9M = $8,333.33.
Assuming a $200K house, that means a principal reduction of 4%. It's even less for higher priced houses.
This is a waste of the piece of paper it was written on. And everyone's carryin' on as if the Candy-Crappin' Unicorn™ actually crapped out some candy.
FAIL!!!
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