Congressman: Obama should unilaterally ‘refinance every home mortgage’

[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-should-unilaterally-refinance-every-home-mortgage-video/#ixzz1bbz417o9

video at link...