Galston on Housing Crisis

The always smart and almost always correct Bill Galston has an article up at the New Republic about steps the President can take to deal with the housing crisis.

Of course, DC is focused almost exclusively on the budget, which makes sense given the looming deadline to raise the debt ceiling. But what they should be focusing on is jobs, but it is hard to stimulate job growth while consumers remain wary about over-spending. And consumers will remain wary about spending until they feel that their investments in their homes are not going to deteriorate. So, whenever Congress and the White House finally get their act together on the debt, they should look at important proposals like these.