Respite From Foreclosure

The president elect Barack Obama has given his word to restructure a financial rescue plan to save many US families from home foreclosures. He is considering additional funds for the purpose, other than the already announced $700 billion bail out package. The original plan is undergoing changes from the original outlines. 40% of the money would be used for tax cuts while the rest will be used towards public work projects which include road and school constructions, social safety nets program like unemployment insurance etc. Obama’s aides have been in talks with the White house over whether President Bush would ask permission to use the remaining $ 350 billion funds.