Nela Richardson, Sr. Bloomberg government analyst, on why good news in housing market is misleading.
Utah Sen. Mike Lee joins Starting Point this morning to talk politics– primarily, Romney's promise to cut the unemployment rate, the current housing market, and his state's infraction of a federal soda ban in schools.
An outspoken Mitt Romney supporter, Lee believes that Romney's laissez-faire approach to government is exactly what the country needs to relieve both the current 9.8 unemployment rate and 800 million dollars of equity debt in the housing market.
"When you have less revenue coming in the door, you have more money going out the door," Lee says. "You have to find ways of trimming." Romney, he insists, knows where and how to do so.
As for federal fines issued in his state over soda sales in schools, Lee says:
"It's certainly wildly inappropriate for the federal government to be saying 'look, you had a vending machine that was on too long in our opinion, so we're going to fine you $15,000.' This is going to cost real students real oportunities in the classroom. These are decisions that should not be made from Washington DC– they should be made at the local level."
Christine Romans fact checks the price of housing over the past 3 years.