Congressman: Obama should unilaterally ‘refinance every home mortgage’

[Freeper]

boston bean Donating Member (1000+ posts)  Journal Click to send private message to this author Click to view this author's profile Click to add this author to your buddy list Click to add this author to your Ignore list    Sun Oct-23-11 09:34 AM
Original message
Congressman: Obama should unilaterally ‘refinance every home mortgage’
   
Edited on Sun Oct-23-11 09:37 AM by boston bean
Virginia Democratic Rep. Jim Moran told The Daily Caller on Thursday evening that President Obama should “refinance every home mortgage” without congressional approval in order to “reset the economy.”

“Absolutely, I think should do that but there are not a lot of places where he can act unilaterally,” Moran told TheDC during Conservation International’s Oct. 20 dinner in Washington, D.C.

“If he chooses to act unilaterally,” Moran said, “the likelihood is that there will be language in the appropriations bills that will prohibit him from spending money for that purpose. That’s just the political reality. But notwithstanding that, I think he should do everything he can do on his own to stimulate jobs.”

Obama has already asked his Council on Jobs to identify areas of the American Jobs Act that can be implemented without congressional authorization.

Moran told TheDC that he would “like to see” the Obama administration “refinance every home mortgage at three-and-a-half to four percent” interest, which he said can be accomplished without approval from Congress.

Read more: http://dailycaller.com/2011/10/21/congressman-obama-sho...

video at link...

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=439x2170722

Why stop there? What about car payments? What about price of food at the grocery store? What about gas prices, oh wait never mind he wants energy prices to skyrocket necessarily. Let's just make 0bama price czar that way everything will be fair. 

Firebrand Gary Donating Member (1000+ posts)  Journal Click to send private message to this author Click to view this author's profile Click to add this author to your buddy list Click to add this author to your Ignore list    Sun Oct-23-11 09:45 AM
Response to Original message
1. Does the President actually have the authority to pull this off?   Updated at 8:10 AM
   
If so that would strap this economy to a rocket ship.
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boston bean Donating Member (1000+ posts)  Journal Click to send private message to this author Click to view this author's profile Click to add this author to your buddy list Click to add this author to your Ignore list    Sun Oct-23-11 09:46 AM
Response to Reply #1
2. According to Rep. Moran, he does. nt

For a minute, I too thought that would be overstepping his powers, but if Moran says it's ok, it must be.

ProgressiveProfessor (1000+ posts)  Journal Click to send private message to this author Click to view this author's profile Click to add this author to your buddy list Click to add this author to your Ignore list    Sun Oct-23-11 10:02 AM
Response to Reply #2
6. Moran is dead wrong
   
The government does not currently have the authority, with or without congressional authorization.

It is just frigging dumb to throw out stupid shit like that.

I'm sure the clOWnS love that idea.

boston bean Donating Member (1000+ posts)  Journal Click to send private message to this author Click to view this author's profile Click to add this author to your buddy list Click to add this author to your Ignore list    Sun Oct-23-11 10:07 AM
Response to Reply #6
7. What is the exact reason Obama can't do this? nt

Yeah he is like king of the universe, or something and can do whatever the hell he wants, right?

ProgressiveProfessor (1000+ posts)  Journal Click to send private message to this author Click to view this author's profile Click to add this author to your buddy list Click to add this author to your Ignore list    Sun Oct-23-11 10:12 AM
Response to Reply #7
9. There are many...
   
Lets start with the the basics: The President of the United States can not unilaterally change private contracts by decree.



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boston bean Donating Member (1000+ posts)  Journal Click to send private message to this author Click to view this author's profile Click to add this author to your buddy list Click to add this author to your Ignore list    Sun Oct-23-11 10:18 AM
Response to Reply #9
13. The majority are backed by Fannie and Freddie. nt

Sounds like a freeper talking point, if that is true, then this mess can be blamed on government.

Lots of back and forth with Boston Bean over this like totally brilliant idea, dude.

 

[Evil_Conservative]

Yes.  Let's go ahead and change interest rates for everyone.  Yay! 

[DLR Pyro]

Virginia Democratic Rep. Jim Moran told The Daily Caller on Thursday evening that President Obama should “refinance every home mortgage” without congressional approval in order to “reset the economy.”

So I guess that since the DUmmies are so much in agreement of this that they will eagerly agree that the mortgages that the "evil" 1%ers have on their multiple million dollar mansions should be refinanced too.

[TVDOC]

I'd just comment that the congressman's last name is mispelled........it needs another "o".....

doc

[GOBUCKS]

Why would he just declare lower interest rates?

Why not just declare the mortgage paid off?

Up twinkles for free houses!

[DumbAss Tanker]

I'd just comment that the congressman's last name is mispelled........it needs another "o".....

doc

How right you are.

[Tantal]

So, by the DUmmies' logic, a Republican President, regardless of the makeup of the Congress, could unilaterally refinance everyone's mortgage to 28% and it would be completely legal?

[docstew]

So, by the DUmmies' logic, a Republican President, regardless of the makeup of the Congress, could unilaterally refinance everyone's mortgage to 28% and it would be completely legal?

Oh no, that would clearly be unconstitutional and grounds for impeachment... it's more about the R than the action of course

[Freeper]

Oh no, that would clearly be unconstitutional and grounds for impeachment... it's more about the R than the action of course

Hell, just winning the election is grounds for impeaching a republican president. 

[NHSparky]

Well, his name IS Moran.

Dear lurking DUmmies--don't bother rowing back and telling everyone how dumb I am.  It was intentional.  Humor, sense of, one each.  Get it issued to you, turn it on, then comment.