Posted on 12/06/2007 6:26:04 PM PST by snugs
Today the President discussed Housing in the Roosevelt Room and took place in the annual Lighting of the National Christmas Tree and the Pageant of Peace on The Ellipse near the White House in Washington.
Secretary of State Condoleezza Rice attended a Transatlantic working dinner held at the Egmont Palace in Brussels.
Secretary of Defense Robert Gates left Iraq and travelled to Bahrain where he attended a meeting with the King of Bahrain, Hamad bin Al-Khalifa and visited US troops on the USS Vicksburg.
The First lady is given a tour of the exhibit: "The Presidential Dish: Mrs. Woodrow Wilson and the White House China Room" by curator James Abbott and collector Set Momjian at the Woodrow Wilson House in Washington.
Republican presidential candidate and former Massachusetts Gov. Mitt Romney gives an address entitled "Faith in America," at the George Bush Presidential Library and Museum in College Station, Texas
Pray for President Bush - Day 2639
Enjoy your visit to Sanity Island
QUOTE OF THE DAY
President Bush Attends Lighting of the National Christmas Tree Ceremony Ellipse
THE PRESIDENT: Mr. Secretary, thank you for that kind introduction. And thank you all for joining us. Laura and I are pleased to welcome you on this joyous occasion. As the Secretary said, in a few moments, we will light the National Christmas Tree -- and as he also said, this is a tradition that dates back to President Calvin Coolidge.
There's one person with us today who remembers that first annual Christmas tree lighting -- and, Santa, we are glad you're here. (Laughter.) We know this is a busy time of year for you, and we're thrilled you're here, and we really appreciate you bringing Mrs. Claus. (Applause.) Both you and I married well. (Laughter.)
I appreciate the members of my Cabinet for joining us; members of the Congress. I want to thank Vin Cipolla, Mary Bomar. I particularly want to thank the men and women who work for the National Park Service. (Applause.)
Pastor, thank you for your blessing. I believe these entertainers didn't disappoint anyone. We're proud you're here, and thank you for your beautiful music.
Christmas is a time of rejoicing and reflection. Each year at this time, we rejoice in the proclamation of good news, that in Bethlehem of Judea, a Savior was born. And we rejoice in the Christmas promise of peace to men of goodwill. We also reflect on the mystery of Christmas: the story of the Almighty, who entered history in the most vulnerable form possible -- hidden in the weakness of a newborn child. And we reflect on the call of our Creator -- who by taking this form, reminds us of our duty to protect and care for the weak and the vulnerable among us.
During this Christmas season, millions of Americans will answer this call by reaching out a compassionate hand to help brothers and sisters in need. We are thankful for these good souls who show the good heart of our nation. We're also thankful for the thousands of Americans who answer the call by serving our nation in uniform. (Applause.) Many will spend this Christmas stationed in distant and dangerous lands, far from homes and from the families they love. They are never far from our thoughts, and they're always in our prayers. America honors their sacrifice, and that of their families who also serve our nation. We're grateful for all they do to ensure that we live in the freedom our Creator intended for every man, woman, and child on the face of this Earth.
And now, as an expression of our hope for peace in this Christmas season, we're going to light the National Christmas Tree. (Applause.) And we have asked two young Americans to join us. Brianna Kinder helps others through her participation in the Montgomery County Police Activities League's "Kids Care Club." (Applause.) And Damarcus Hawkins gives his time as part of the Discovery Creek Children's Museum service-learning program.
And now, if Brianna and Damarcus will join Laura, and if you will join me in a countdown -- five, four, three, two, one.
(The tree is lit.) (Applause.)
PHOTO OF THE DAY
Brianna Kinder, 11, left, and Damarcus Hawkins, 10, react as they help President Bush in the lighting of the National Christmas Tree during the Pageant of Peace on The Ellipse near the White House in Washington, Thursday, Dec. 6, 2007.
Hi
Dose going up please wait for the all clear before posting or reposting any photos or graphics
Hi
Thanks for the ping
President George W. Bush(C) makes a statement on housing with US Treasury Secretary Henry Paulson(R) and US Housing and Urban Development Secretary Alphonso Jackson in the Roosevelt Room of the White House in Washington, DC
President Bush Discusses Housing Roosevelt Room
THE PRESIDENT: Good afternoon. Before turning to the situation in the housing market, I send my sympathy to the families of those murdered in Omaha, Nebraska, yesterday. I was in Omaha just before the shooting took place, and I know what a difficult day it is for that fine community. The victims and their loved ones are in the prayers of Americans. The federal government stands ready to help in any way we can. And our whole nation grieves with the people of Omaha.
I just had an important discussion on the housing market with Secretary Paulson, Secretary Jackson and members of the mortgage industry.
The housing market is moving through a period of change. In recent years, innovative mortgage products have helped millions of Americans afford their own homes -- and that's good. Unfortunately, some of these products were used irresponsibly. Some lenders made loans that borrowers did not understand, especially in the sub-prime sector. Some borrowers took out loans they knew they could not afford. And to compound the problem, many mortgages are packaged into securities and sold to investors around the world. So when concerns about sub-prime loans begin to mount -- began to mount, uncertainty spread to the broader financial markets.
Secretary Paulson and Secretary Jackson and Chairman Bernanke are monitoring developments in the housing market, and working to limit the disruption to our overall economy. Data released this morning confirmed the difficulties facing the housing market. Yet one reason for confidence is that the downturn in housing comes against a backdrop of solid fundamentals in other areas -- including low inflation, a healthy job market, record-high exports. America's economy has proved itself highly resilient -- and it is strong, and it is flexible, and it is dynamic enough to weather this storm.
For individual homeowners, the problem is more difficult. Many of those feeling financial stress have an adjustable rate mortgage, which typically starts with a lower interest rate and then resets to a higher rate after a few years. Many of those borrowers cannot afford the higher payments. And now some are fearing foreclosure -- which is a terrible burden for hardworking families, and a source of concern for entire communities and neighborhoods across our country.
The rise in foreclosures would have negative consequences for our economy. Lenders and investors would face enormous losses. So they have an interest in supporting mortgage counseling and working with homeowners to prevent foreclosure.
The government has a role to play as well. We should not bail out lenders, real estate speculators, or those who made the reckless decision to buy a home they knew they could never afford. Yet there are some responsible homeowners who could avoid foreclosure with some assistance -- and in August, I announced a series of targeted actions to help them. My administration has moved forward in three key areas.
First, we've launched a new initiative at the Federal Housing Administration called "FHA Secure." This program gives the FHA greater flexibility to offset refinancing to homeowners -- to offer refinancing to homeowners who have good credit histories but cannot afford their current payments. In just three months, the FHA has helped more than 35,000 people refinance. And in the coming year, the FHA expects this program to help more than 300,000 families.
Second, in August, I asked Secretaries Paulson and Jackson to work with lenders and loan servicers and mortgage counselors and investors on an initiative to help struggling homeowners find a way to refinance. They assembled a private sector group called "HOPE NOW Alliance" -- their leaders are with us today. HOPE NOW is an example of government bringing together members of the private sector to voluntarily address a national challenge -- without taxpayer subsidies or without government mandates. I'm pleased to announce that our efforts have yielded a promising new source of relief for American homeowners.
Representatives of HOPE NOW just briefed me on their plan to help homeowners who will not be able to make the higher payments on their sub-prime loan once the interest rates goes up -- but who can at least afford the current, starter rate. HOPE NOW members have agreed on a set of industry-wide standards to provide relief to these borrowers in one of three ways: by refinancing an existing loan into a new private mortgage, by moving them into an FHA Secure loan, or by freezing their current interest rate for five years.
Lenders are already refinancing and modifying mortgages on a case-by-case basis. With this systematic approach, HOPE NOW will be able to help large groups of homeowners all at once. This will bring more relief to more homeowners more quickly. HOPE NOW estimates there are up to 1.2 million American homeowners who could be eligible for this assistance.
Public awareness is critical to this effort, because the group can only help homeowners who ask for it. So HOPE NOW recently mailed hundreds of thousands of letters to borrowers falling behind on their payments, and they have set up a counseling hotline that Americans can call 24 hours a day. I've directed Secretaries Paulson and Jackson to expand the public awareness campaign. And I have a message for every homeowner worried about rising mortgage payments: The best you can do for your family is to call 1-800-995-HOPE.* That is 1-800-995-H-O-P-E.*
Third, the federal government is taking several regulatory actions to make the mortgage industry more transparent, reliable and fair. Later this month, the Federal Reserve intends to announce stronger lending standards that will help protect borrowers. At the same time, HUD and the federal banking regulators are taking steps to improve disclosure requirements -- so that homeowners can be confident they are receiving complete, accurate and understandable information about their mortgages
There are also some fact sheets regarding this on the White House Website
First lady Laura Bush and President Bush greet Mr. and Mrs. Claus as they participate in the lighting of the National Christmas Tree at The Ellipse in Washington, Thursday, Dec. 5, 2007.
President Bush and first lady Laura Bush smile as Santa takes the stage during the ceremony for the lighting of the National Christmas Tree and the Pageant of Peace on The Ellipse near the White House in Washington, Thursday, Dec. 6, 2007. Sitting next to Bush is his guest, Damarcus Hawkins, 10.
Brianna Kinder, 11, left, and Damarcus Hawkins, 10, react as they help President Bush in the lighting of the National Christmas Tree during the Pageant of Peace on The Ellipse near the White House in Washington, Thursday, Dec. 6, 2007.
President Bush greets country music singer Sara Evans during the lighting ceremony of the National Christmas Tree in Washington, Thursday, Dec. 5, 2007
President George W. Bush (R) joins country singer Sara Evans as they sing during the National Tree Lighting Ceremony in Washington December 6, 2007.
President Bush and first lady Laura Bush join entertainers at the finale of the lighting of the National Christmas Tree and the Pageant of Peace on The Ellipse near the White House in Washington, Thursday, Dec. 6, 2007. From left to right are: Holly Stell, Sara Evans, President Bush, Laura Bush, Brianna Kinder, Damarcus Hawkins, and Santa.
President Bush and first lady Laura Bush join entertainers at the finale of the lighting of the National Christmas Tree and the Pageant of Peace on The Ellipse near the White House in Washington, Thursday, Dec. 6, 2007. From left to right are: Holly Stell, Sara Evans, President Bush, Laura Bush, Brianna Kinder, Damarcus Hawkins, and Santa.
The National Christmas Tree is lit up in front of the White House in Washington December 6, 2007. U.S. President George W. Bush spoke at the annual tree-lighting ceremony.
Belgium's Foreign Affairs Minister Karel De Gucht, right, shares a few words with Secretary of State Condoleezza Rice, left, prior attending a Transatlantic working dinner held at the Egmont Palace in Brussels, Thursday Dec. 6, 2007.
Members of the Bahrain Defense Force honor guard present arms during the arrival of U.S. Secretary of Defense Robert M. Gates, at Bahrain International Airport, Thursday, Dec. 6, 2007, in Manama, Bahrain.
Secretary of Defense Robert M. Gates, left, is greeted by Bahrain Lt. Gen. Dr. Mohammed Al-Khalifa, minister of state for defense affairs, Thursday, Dec. 6, 2007, at the Bahrain International Airport in Manama, Bahrain. At center is U.S. ambassador Adam Ereli.
Defense Secretary Robert Gates, left, meets with the King of Bahrain, Hamad bin Al-Khalifa, Thursday, Dec. 6, 2007, at the Safriya Palace in Bahrain.
Defense Secretary Robert Gates, rear, follows Navy Capt. Chip Swicker, commanding officer of the USS Vicksburg, during a tour of the ship, Thursday, Dec. 6, 2007, in Manama, Bahrain.
Defense Secretary Robert Gates, center, listens to Navy Capt. Chip Swicker, commanding officer of the USS Vicksburg, left, as Navy Vice Adm. Kevin Cosgriff, commander of the Navy's 5th fleet, looks on, Thursday, Dec. 6, 2007, in Manama, Bahrain.
Defense Secretary Robert Gates speaks to members of the Defense Department press pool following a tour of the USS Vicksburg, Thursday, Dec. 6, 2007, in Manama, Bahrain.
Defense Secretary Robert Gates, rear, arrives on the flight deck of the USS Vicksburg to conduct a re-enlistment ceremony, Thursday, Dec. 6, 2007, in Manama, Bahrain.
Defense Secretary Robert Gates, bottom center, conducts a re-enlistment ceremony aboard the flight deck of the USS Vicksburg, Thursday, Dec. 6, 2007, in Manama, Bahrain.
First lady Laura Bush, center, is given a tour of the exhibit: "The Presidential Dish: Mrs. Woodrow Wilson and the White House China Room" by curator James Abbott, left, and collector Set Momjian, right, Thursday, Dec. 6, 2007, at the Woodrow Wilson House in Washington. The exhibit is the private collection of Momjian.
First lady Laura Bush looks at White House china during a tour of the exhibit: "The Presidential Dish: Mrs. Woodrow Wilson and the White House China Room," Thursday, Dec. 6, 2007, at the Woodrow Wilson House in Washington.
Republican presidential hopeful, former Massachusetts Gov. Mitt Romney, left, and his wife Ann, second from left, walk with former president George H.W. Bush, right, and his wife Barbara, Thursday, Dec. 6, 2007, in College Station, Texas.
Republican presidential hopeful, former Massachusetts Gov. Mitt Romney, left, shakes hand with former president George H.W. Bush in College Station, Texas, Thursday, Texas, Dec. 6, 2007.
Former President George H.W. Bush, right, applauds while introducing Republican presidential hopeful, former Massachusetts Gov. Mitt Romney, left, prior to Romney's address at the George Bush Presidential Library and Museum in College Station, Texas, Thursday, Dec. 6, 2007.
Republican presidential candidate former Massachusetts Governor Mitt Romney (L) shakes hands with former President George H.W. Bush before delivering an address titled "Faith in America" at the George Bush Presidential Library in College Station, Texas December 6, 2007
Republican presidential hopeful, former Massachusetts Gov. Mitt Romney gives an address entitled "Faith in America," Thursday, Dec. 6, 2007,at the George Bush Presidential Library and Museum in College Station, Texas.
Republican presidential hopeful, former Massachusetts Gov. Mitt Romney, second from left, ,and his wife Ann, left, are joined on stage by former President George H.W. Bush and his wife Barbara, right, after giving an address entitled, "Faith in America," Thursday, Dec. 6, 2007, at the George Bush Presidential Library and Museum in College Station, Texas.
Hi snugs, thanks for posting the dose tonight. Sara Evans endorsed a Republican presidential candidate recently, this month I believe.
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