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LAS VEGAS — President Barack Obama, highlighting his administration’s action on the economy during a Western-state swing, announced $1.5 billion in aid to help struggling homeowners in areas worst hit by the housing crisis.
“Government has a responsibility to help deal with this problem,” Obama said during a town-hall event at Green Valley High School in Henderson, Nev., a suburb of Las Vegas.
The money is targeted to Nevada, California, Arizona, Florida and Michigan, states where average home prices have fallen by more than 20 percent from their peaks, according to the administration. Bloomberg News Service
