The foreclosure bill that many have been waiting for passed a key test today by a huge margin. The vote was 83 in favor and 9 opposed to the measure. This now clears the way for the bill to pass the Senate on Wednesday however Bush is still threatening to veto the measure which could delay any progress on the bill until mid July because of his resistance.

As more time passes our economy is continuing to deteriorate. Consumer confidence is at a 16 year low and average home prices fell 15% in April alone. Speedy legislation is needed to avoid anymore down turns and many Democrats and Republicans are baffled at Bush's resistance to housing aid.

Even at this stage there is still a lot of disagreement over the measure that should have been settled on weeks ago. The bill will continue to be tweaked until the Senate believes it would be something that Bush would sign into law without any veto concerns. This however does mean less help for homeowners in the long run and has been Bush's stance that the government should not exist to bail out homeowners despite the government bailing out big business and banks. The amount of money to make this program is just a fraction of what the government uses to bailout large banks.

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