MAYOR OF HOUSTON DROPS PLAN TO PAY OFF PEOPLE’S DEBT

24 Feb

Updates from Chron.com

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

“This issue has hit a nerve across this country,” said Councilwoman Anne Clutterbuck. “Not just here in the city of Houston. Giving people the ability to increase their credit score artificially because we’re allowing them to pay off their credit cards is exactly what got us into this (national economic) crisis in the first place.”

Councilman Jarvis Johnson said the city should continue to help people move from renting to owning.

“But I do believe we can do it in a better way, a more thoughtful way,” he said. “But we don’t want to become enablers, where people count on the city to be the cure-all.”

Good, now if we can just stop the type of thinking that got Houston nationwide attention it would be even better. In fact, maybe those in Washington should wake up and see that people do not want to pay for those who were irresponsible.

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