Source:
CBS News The Obama administration unveiled Monday $600 million in financial aid for five more states with high unemployment that have been slammed by the housing bust.
The funding is for North Carolina, Ohio, Oregon, South Carolina and Rhode Island.
It comes on top of the $1.5 billion in funding announced last month by the Obama administration for Arizona, California, Florida, Michigan and Nevada, which all have deeply depressed home prices.
After that announcement, lawmakers in other states pressed Obama officials for additional aid. Sen. Jack Reed, D-R.I., who was among those pushing for more help, called the funding "a smart investment that will help Rhode Island and other states that have been hit hardest by the recession."
The new money is going to housing finance agencies in states with the most people in counties with unemployment rates above 12 percent. The agencies will design programs that need to be approved by the Treasury Department.
Ohio got the largest share of funding, at $172 million, followed by North Carolina at $159 million and South Carolina at $138 million.
Read more:
http://www.cbsnews.com/stories/2010/03/29/national/main6344383.shtml?tag=stack
Shouldn't North & South Carolina be sending that money back? Thought they didn't want no stinkin' Federal aid?
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