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Newspaper
Garden City Telegram
Location
Garden City, Kansas, United States of America
Date
Jul 11, 2008
Page
8
Breezy conditions and patchy clouds tonight with southeast winds 12 to 25 mph. Partly sunny tomorrow with a thunderstorm in the afternoon and northeast winds 15 to 25 mph. Expect 6 to 10 hours of sunshine and a 55 percent chance of precipitation with humidity around 40 percent. Drying conditions are good and cloudy conditions persist tomorrow night. Soil temperature yesterday.
Bipartisan Senate support backs a housing bailout allowing the FHA to guarantee up to 300 billion in new loans to help homeowners obtain affordable fixed rate mortgages. The package aims to curb foreclosures, modernize FHA, and tighten oversight of Fannie Mae and Freddie Mac, with tax breaks and a loan loss mitigation scheme.
Congress moves through the waning months of the 110th, with Democrats signaling a punt on major issues until 2009. Reid and leaders plan a continuing resolution through Obama’s likely presidency, while Republicans press offshore drilling as a rallying issue amid election-year fatigue.
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