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have applied to get their mortgage payments lowered, but around half of those applicants have been disqualified and another 3.3 million homes could be lost to foreclosure or distressed sales over the next four years. what can be done to slow the tide of foreclosures. joining me is don humphrey. this is so disturbing because this was a plan by the obama administration that gave hope to so many homeowners out there, the value of their homes has decreased so much so the mortgage payments are actually worth less than the value of their home, therefore, this was supposed to bail the homeowners out so necessity didn t have to foreclosure. why is more than half the homeowners in this initiative have fallen out of the program? thanks for having me. i think there were a number of issues with the plan overall.
investigation. gregg: we begin with a word between democrats and republicans over the pledge to america, the plan calling for a freeze in government spending and tax cuts to boost the u.s. economy. president obama today in weekly address blasting that plan has a repeat of failed ideas. many with the very same policies that led to the economic crisis in the first place, which isn t surprising since many of the leaders were among the architects. failed policy. it s grounded in the same warn out philosophy cut taxes for millionaires and billionaires and cut rules for wall street and cut the middle-class loose to fend for itself. gregg: the republicans are striking back. molly henneberg is live in w more. what specifically does the president oppose in that plan. molly: for one thing it calls for the extension of the bush tax cuts for all americans. this is debate we ve heard elsewhere. he says he agrees with extending most of the tax cuts but not for families who make ove