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THE PRESIDENT: Well, look, if Congress is gridlocked,
if the
Republicans in Congress refuse to act, then there is going to be
a limit to some of the things we’d like to do, but there’s still
some actions that we can take without waiting for Congress. So
yesterday, for example, we announced working with some of the
federal housing agencies. Let’s make it easier for people to
refinance.
A lot of these folks, because their homes are
underwater now, their mortgages are higher than what their homes
are worth, a lot of them are having trouble getting refinanced by
their banks. And so they are locked in at high rates when rates
should be a lot lower for them.
We’ve said, “Let’s figure out a
way to waive some of the fees, waive some of the provisions that
are preventing them from being able to refinance.” And that
could mean an extra couple thousand bucks in people’s pockets
right now. They then have that money to buy a computer for their
kid for school or what have you, and that will get the economy
going again.
So we are going to look for opportunities to do
things without Congress. We can’t afford to keep waiting for
them if they are not going to do anything. On the other hand, my
hope is that, at some point, they start listening to the American
people, and we can work with Congress as well.
(Applause.)
Segue: Obama's
Imperial Presidency
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” |
Marc Miller
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