Moran-ic Virginia Democratic Rep. Jim Moran says Obama should bypass Congress and unilaterally ‘refinance every home mortgage’

jim-moranMarxist Virginia Democrat Rep. Jim Moran came up with a Moran-ic idea. He told the Daily Caller that Obama should bypass congressional apprvoal and “refinance every home mortgage.” That would “reset the economy.” Moran told the Daily Caller that he would “like to see” the Obama reigm “refinance every home mortgage at three-and-a-half to four percent” interest, without approval from Congress.


“Absolutely, I think [Obama] 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.”

“The banks aren’t doing it, but the federal government can borrow money at three-and-a-half percent today. They should use that money to refinance every home mortgage, and that would put $750 billion into homeowners pockets,” he said. “It would reset the economy, and I think it’s the one thing that would most quickly get this economy back on its feet.”

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October 22, 2011 · Filed Under Democrats


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