Guess who said this?
“The Bush administration took a lot of pride that homeownership had reached historic highs,” Mr. Snow said in an interview. “But what we forgot in the process was that it has to be done in the context of people being able to afford their house. We now realize there was a high cost.”
Mr. Snow was the Treasury Secretary for the Bush administration.
Um…when you’re in charge of the money for the country, you should know about finance, right? And the concept that someone should be able to afford something that they purchase is a kinda fundamental financial concept, isn’t it?
Not in this administration…
(From the NY Times)