In reference to my post on Saturday [1] regarding HR 3221, the “Housing and Economic Recovery Act of 2008″, I discovered a site where there is a copy of the Congressional Budget Office Cost Estimate for HR 3221 [2]. Over the next ten years, according to the estimate, this bill will create a nearly $25 Billion deficit.
Another blogger, John D. Thornton, has some interesting insights regarding the OFHEO [3].
I’ve been getting some hits on Saturday’s post that are searches like this “explain the $7500 tax credit on the new housing bill that was just passed [4]“. I’m glad to see there are people wanting to understand it better. This could be achille’s heel of the bill.
There is additional information available (this is where I found the cost estimate) at WashingtonWatch.com [5].