President Obama wants big money to forestall foreclosures. On this rebroadcast of today’s To the Point, is that a sound public investment? Why is homeownership equated with the American Dream? What’s wrong with renting? Also, leaking out from under a “cone of silence” in Sacramento is a budget agreement -- at last. We hear about spending cuts, tax increases and charges of illegal vote-trading by the Republicans. Also, what’s in store for the Motion Picture and Television retirement home?
FROM THIS EPISODE
Six years ago, George W. Bush declared that, “owing a home lies at the heart of the American dream.” Yesterday, President Barack Obama said that home foreclosure means losing a “foothold in the American Dream,” an idea that dates back to the Great Depression. But there’s a downside, and it’s come to a head in the current recession as millions of homeowners are losing their homes to foreclosure. Why should tens of billions of taxpayer dollars help people get back into housing they can’t afford? What’s wrong with renting?
Jill Keto, author, 'Don't Get Caught with Your Skirt Down'
Yvonne Maria Jimenez, Neighborhood Legal Services of Los Angeles County
Andrew Jakabovics, Associate Director of the Economic Mobility Program, Center for American Progress
Sam Staley, Florida State University (@samrstaley)
With California facing a $42 billion shortfall in the next 18 months, just five people are negotiating a state budget with consequences that could last for a decade. Today, reports leaked from the “cone of silence” surrounding Governor Schwarzenegger, two Republicans and two Democrats who lead their parties in the Assembly and Senate. Senate President Pro Tem Darrell Steinberg told reporters they've agreed on a “common framework.” Meantime, labor and environmental groups have asked Attorney General Jerry Brown to investigate charges that Republicans have demanded a weakening of protections and standards as a price for their votes for the budget. Brown, who may run for Governor again, says there's a “serious question” of illegal vote trading. We get the details and hear about charges that Republicans are breaking anti-bribery laws.
One of LA's most venerable institutions is the Motion Picture and Television Retirement Home in Woodland Hills. It was started by Mary Pickford and Charlie Chaplin 87 years ago. Recently the foundation that runs it said it was losing $10 million a year and would have to close part of it down. But veteran reporter Andrew Gumble, who blogs at TheWrap.com, discovered that not all the statements were true. Today, Jeffrey Katzenberg, head of DreamWorks Animation and the chair of the foundation met with reporters.
Andrew Gumbel, journalist and author