ANDERSON: Democratic presidential hopeful Hillary Clinton called today for a second stimulus package, including a 30 billion dollars emergency housing fund, to help boost the ailing US economy.

Stating that the housing and credit crisis is the biggest threat to the health of our economy, the New York senator said the emergency fund would help states buy foreclosed properties and provide mortgage restructuring.

Her proposal also included expanding the Mortgage Revenue Bond Program by giving state housing agencies up to 10 billion dollars to refinance unworkable mortgages, the Clinton campaign said in a statement.

The campaign said the newly enacted 168 billion dollars stimulus package passed by the US Congress and signed by President George W Bush did not do enough to address the housing problem.

Declining home values and record foreclosures threaten to not only devastate millions of American families but send communities across the country spiraling into deep recession.

The 30 billion dollars emergency housing fund would put cash in the hands of local governments and nonprofit organizations to buy and resell properties to low-income people or turn them into affordable rental housing units.

The fund would also offer financial support to state programs aimed at educating and supporting people at risk of losing their homes.

The US Senate this month approved a budget plan that includes about 35 billion dollars for another round of economic stimulus if the first package fails to adequately invigorate the US economy.

The House of Representatives-approved budget does not have such a provision and the two chambers must work out their differences.

Source : UNI