Letters to the Editor

Donald Trump’s executive order hurts homebuyers and the economy

President Donald Trump signs an executive order in the Oval Office of the White House in Washington, Friday, Feb. 3, 2017.
President Donald Trump signs an executive order in the Oval Office of the White House in Washington, Friday, Feb. 3, 2017. AP

On Inauguration Day, President Trump signed an executive order suspending the 0.25 percent cut in the mortgage insurance premium for FHA loans, saving FHA borrowers an estimated average of $500 per year.

Fees you pay to the government are essentially taxes. Are tax cuts reserved for the super rich now? I don’t have an FHA loan, but I am concerned about public policy. That average $500/year, times the number of borrowers, could have stimulated the economy by buying things, thus creating jobs. Employers will not hire more and produce more unless they can sell more.

Pearl Munak, Paso Robles

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