Mending fences is clearly the White House play of the week.
First a visit to the U.S. Chamber of Commerce, now lunch with Republican leaders from Capitol Hill. What next?
President Barack Obama at 12:30 p.m. tomorrow will host House Speaker John Boehner and his lieutenants Majority Leader Eric Cantor and Republican Whip Kevin McCarthy (that’s two of the three “Young Guns” of Capitol Hill).
Discussion will be heavy on the economy and spending. But if the Republicans are hoping for a heads-up on Obama’s budget proposal, they will be disappointed. “We will save that for them and for you for Monday,” White House spokesman Robert Gibbs told reporters.
(So who’s going to be pumping whom for information at that table?)
They will break bread at lunch, but it’s not exactly a tea party…
Take a look at today’s story by Corbett Daly, Rachelle Younglai and Margaret Chadbourn in which they obtained from sources details about the administration’s proposal to reduce government support of the mortgage market.
Here are our top stories from Washington today…
US plans to raise cost of govt backed mortgages-sources
The Obama administration will propose raising the cost of loans backed by the Federal Housing Administration as part of a plan to reduce government support of the mortgage market to below 50 percent, sources said. The White House is considering shrinking Fannie Mae and Freddie Mac’s $1.5 trillion mortgage portfolios within 10 years. The plan would give the private sector a dominant role in the housing market and reduce the government’s support to below 50 percent within five to seven years after the plan is adopted.