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"With debt increases of this magnitude, the rate freeze is simply an illusion," he said.
What's more, Clinton insists on imposing an interest rate freeze for five full years.
Administration officials emphasized that the rate freeze was only one part of a broader plan.
Republican leaders announced they would vote for the interest rate freeze on Friday.
Proponents suggest that a rate freeze will buttress home prices by keeping foreclosed homes off the market.
Mr. Serio said the administration decided against a rate freeze because it is more interested in long-term reductions.
Similar(23)
TECs were subjected to controlled rate freezing using nine different freezing solutions.
The agency may consider imposing restrictions like rate freezes.
In California, rate freezes have prevented most utilities from passing on much of the higher price of power to consumers.
In San Diego, however, the rate freezes were lifted just as the city strained under a heat wave.
The city's property tax rate, frozen for a decade, will rise by 18percentt on Jan . 1under an agreement announced yesterday between the Bloomberg administration and City Council leaders.
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