White House Faces Foreclosure

Washington, DC - Bank of America stated this week that the White House has now missed three months of mortgage payments and is in danger of foreclosure. The Bush Administration claims that they don't have enough funds in the current budget to cover the new monthly payment resulting from last November's adjustable rate increase.

White House Press Secretary, Dana Perino stated "The rate increase caught us off-guard. We knew that it was going to go up again in November, however we did not anticipate it being that much." President Bush says the blame should be placed on the Clinton Administration "Shortly after Clinton came into office, he mortgaged the West Wing to help balance the budget. Then again in '98, he mortgaged the rest of the building." He further states "when my father was in office, the White House was fully paid for, but they [the Clinton Administration] decided that it would be a quick and easy way to raise some extra cash."

The current administration is considering numerous options to help resolve the matter, which includes selling the Jefferson Memorial. "It's not nearly as popular as the Lincoln Memorial and the Washington Monument is a national icon", stated Perino. "We've had offers from a group of investors in China, however we prefer to keep it in the hands of a United States citizen." There is speculation that Berkshire-Hathway chief Warren Buffet is interested, however the spokesperson there refused to confirm any details and simply stated "It is the policy of Berkshire-Hathaway to not disclose any potential deals until something is finalized."

 

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