Paul Ryan on the Obama Housing Plan - The American Spectator | USA News and Politics
Paul Ryan on the Obama Housing Plan

I just got off the phone with Rep. Paul Ryan for another story I was working on, but also asked for his initial take on President Obama’s housing proposal.

“It’s a moral hazard,” Ryan said. “It’s going to viewed as unfair, which is, people who did everything right are bailing out people who spent beyond their means, and cram-down is going to result in higher mortgage rates and refinancing rates for all Americans who want to buy a house. So at the end of the day, I think this may end up doing more harm then good, and it may put a new moral hazard in place that’s bad for society. It’s going to put more of the kind of moral hazards in place that got us into this in the first place, is what my concern is.”

I also asked Ryan about the “fiscal responsibility summit” President Obama called for Monday, which Ryan will be attending. The summit, among other items, is expected to focus on entitlement spending.

“I’m going to take them at their face that their intentions are noble and they want to move the ball forward on this, until I see otherwise,” Ryan said. “I’m glad they’re doing it.”

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