Summers says Obama to address mortgage payments

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But not a full payroll tax holiday to stop removing $230 billion a week of income.

From people and businesses struggling to meet their payments?

Summers Says Obama Mortgage Plan to Focus on Lowering Payments

by Rich Miller and Matthew Benjamin

Feb 14 (Bloomberg) — The White House is willing to spend more than the $50 billion already pledged to stem home foreclosures and intends to focus its efforts on reducing monthly mortgage payments, rather than principal, saidLawrence Summers, the president’s top economic adviser.

“We’re prepared to do what is necessary,” Summers said in an interview on Bloomberg Television’s “Political Capital with Al Hunt” yesterday. “Going directly at the problem means addressing affordability by addressing payments.”