Tuesday, February 24, 2009

City pulls plug on plan to pay off credit cards for potential homeowners

The Houston Chronicle now reporting:

Mayor Bill White this afternoon announced that a plan for the city to pay off some debts for first-time home buyers has been pulled from tomorrow's City Council agenda.

Council members are now professing their "embarrassment" about the proposal, which has hit the national news circuit, including drudgereport.com., which picked up this morning's Houston Chronicle story about the plan

http://www.chron.com/disp/story.mpl/metropolitan/6277344.html

It was bad public policy in the first place. It's the right thing to do to drop that idea like a hot potato.

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