Obama Does End Run Around Republican Obstructionism

     With Congress dithering like they have all the time in the world rather than passing Obama's $447 billion dollar jobs plan as if they have a sense of urgency, the President is not passively sitting here hoping they might get a lobotomy and actually decide to do the job the American people elected them to do.

     He is at the same time coming forth with some more bold actions in two very important areas: mortgages and student loans. These initiatives don't require Congressional approval. With regard to mortgages he is going to make it  easier to refinance:

     "He will discuss the changes in mortgage rules at a stop in Nevada, which has one of the hardest-hit housing markets in the country."

     "The Obama administration has been working with the Federal Housing Finance Agency, the regulator for Fannie Mae and Freddie Mac, to find ways to make it easier for borrowers to switch to cheaper loans even if they have little to no equity in their homes."

     "The FHFA intends to loosen the terms of the two-year-old Home Affordable Refinance Program (HARP), which helps borrowers who have been making mortgage payments on time but who have not been able to refinance as their home values have dropped."

    "The Wall Street Journal reported that the changes should boost refinancing because they will let banks avoid the risk of any "buy-back" on a HARP mortgage as long as borrowers have made their last six mortgage payments and they prove that they have a job or another source of passive income."

     http://news.yahoo.com/obama-announce-actions-housing-student-loans-025853341.html

    He will discuss the details in Nevada, one of the states hardest hit by the mortgage mess. He will unveil his student loan reduction plan in Colorado, a sate hard hit by student loans, take it from one who knows-my online university is in Colorado

    These are two areas that we really need relief on. It is part of why I have been focused on inflation lately as both would be helped by a rise in inflation as part of a debt restructuring. It's good to see with the GOP choosing to use unemployment as a selling point, Obama is not being so timid as not to do those things which don't require Congressional approval.