Quote:
The president is bypassing Congress to enact the program with an executive order. He says he has no choice.
"We can't wait for an increasingly dysfunctional Congress to do its job," said President Obama.
Economists say the refinancing program is good news for some borrowers but it won't have a major effect on the overall economy.
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Seems he is also taking on student loans.
http://money.cnn.com/2011/10/25/news...P_LN&hpt=hp_t2