Struggles Over HUD Budget
The 2011 U.S. Housing and Urban Development (HUD) budget was recently revealed calling for a 5% decrease in spending. The Los Angeles Times was one of the first papers to break the story about President Obama’s “hard freeze” on discretionary housing spending. Their series of recent government spending articles are found here.
HUD claims the budget proposal seeks to make targeted investments in people and places instead of policies and programs and to effectively support HUD’s mission. A total of $6.9 billion in projected FHA and Ginnie Mae receipts contribute to the 2010 budget total of $48.5 billion. But a reduced amount of $41.6 billion – or the 5% decrease – is proposed.
The budget is still looking to house elderly or disabled populations or about 2.3 million families and provide voucher assistance to 78,000 additional families. Altogether, HUD looks to assist 5.5 million households and create more than 112,000 jobs.
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