Budget Update; Foreclosures in Southern California

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The President says he'll spend $75 billion to help stop foreclosures and keep home prices from going down. On our rebroadcast of today's To the Point, we learn who qualifies for assistance and whether the rescue plan will be good for the economy. Also, the rescue plan's possible impact in California, a warning about the budget deadlock and a city election that won't bring much change.

US Senator Barbara Boxer says the deadlock in Sacramento threatens federal stimulus money for California. We hear about that and look at the unlikely prospects for change after next month's election in the City of LA. On our rebroadcast of today's To the Point, in Arizona today, President Obama outlined his massive new plan to deal with the mortgage crisis. He explained why he thinks it's worth $75 billion.

From this Episode:

Credits

Host:

Warren Olney

Producers:

Andrea Brody, Karen Radziner