BREAKING NEWS

Obama to unveil housing plan on campaign swing west

By REUTERS

OCTOBER 24, 2011 08:58

WASHINGTON - President Barack Obama will unveil new measures to help struggling US homeowners on Monday in the first leg of a campaign-style swing through western states that may be crucial to his re-election in 2012.

Stymied by Republican resistance to his $447 billion jobs package and tapping into public displeasure with Congress, Obama will propose actions that do not require congressional approval to help the economy, a White House official said.

They include an initiative to help homeowners refinance their mortgages, which Obama will discuss in Nevada, a state hit hard by the housing crisis.

In Colorado, the president will unveil a student loan initiative. He will also attend fundraising events in both states plus California during the three-day trip.

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