Friend --

Now that each and every Senate Republican has vowed to block measures that would create jobs, President Obama is not going to wait for them to rebuild the economy and bring financial security back to the middle class.

There is no proof that Obama’s jobs program does anything different from the last failed stimulus program which funneled money to federal and union-related employees while ignoring the great private sector which actually provides goods and services.

Obama’s use of our taxpayer money to support failed green programs which went bankrupt or supported foreign workers.

Today, he announced new rules on federal mortgages to prevent more families from losing their homes to foreclosure. And that's just the beginning -- the President said he would continue to make the changes he can by executive action, while continuing to urge Congress to act on legislation to strengthen the economy and create jobs.

What does cutting loan rates for people who couldn’t afford their homes in the first place do for the creation of jobs?

If Congress doesn't act, he will -- because millions of Americans can't just wait for Congress to do their jobs. That's why thousands of you have been calling and tweeting your representatives over the past month, joining the President in sending a message to lawmakers in Washington that they need to act now.

Congress now realizes that the people will hold them responsible for their actions and are scared to act. The democrat/socialists want bigger government and more spending to be channeled to the government, government-related, union-controlled jobs.

So Obama is left with little choice other than to put forward more regulation – administrative rules and regulation to subvert and circumvent the function of Congress.

We're not just going to continue to wait -- and we'll be keeping up the pressure by making sure they're hearing from folks across the country every day about why they need to act.

Will you share your story -- and join President Obama in telling Congress that we can't and won't wait?

No! We can wait – preferably until we get honest brokers acting on behalf of “We the People.”

Republicans in Congress have repeatedly filibustered the President's ideas to create jobs now -- ideas that until recently were supported by Republicans.

Republicans supported the “idea” of various jobs initiative – not the heavy-handed government/union-focused charades that buy political support for democrats using your tax dollars.

The President's action today also stands in stark contrast to the positions of the Republicans running for president.

Mitt Romney even told a newspaper last week that we actually shouldn't act; we should let the housing crisis "run its course" and "hit the bottom" so that "investors" can come in and buy up these homes at cheap prices. He's saying to homeowners that they are on their own, forcing thousands of families to explain to their kids why they have to give up their homes.

Government interference in the housing and financial markets was the proximate cause of this financial crisis, exacerbated by the financial institutions themselves.

But unless the real estate market finds its true bottom or continues to be propped up by Obama’s continual interference – there will never be a truthful valuation of real estate and the current crisis will be prolonged.

Doing nothing while families struggle: that's the opposite of what this president and this campaign stand for. President Obama isn't going to let Congress' inaction stop him from doing what he can right now.

Perhaps, the most important thing Obama can do is NOTHING! Let the free market work its magic and keep the socialist central planners from picking winners and losers.

So here's what the President's announcement means:

-- More families whose homes are under water will get help and save money on their monthly mortgage payment through the Home Affordable Refinance Programs.

This is a voluntary program that is actually controlled by the individual lenders and servicers who participate in the program.

The program is run by the two insolvent government sponsored entities, Fannie Mae ad Freddie Mac which must go hat-in-hand to the Treasury department every quarter for their multi-billion dollar bailout lest they be ruled insolvent by the court.

-- If the value of your mortgage is $100,000 and your house is valued at $75,000, you previously weren't able to refinance to save your home -- forcing many families to pay higher interest rates. As a result of today's announcement, many more responsible homeowners will be able to lower their rates and pay their debts.

What rational person or institution is going to loan more than your house is worth? But that is what Obama is really proposing.

Notice Obama doesn’t have the cojones to demand that the lenders and servicers actually reduce the principal loan balance to its appraised value and re-establish an affordable loan?

Of course, lenders would have to be crazy to do that because the housing market is artificially subsidized by the government and has not yet reached a true bottom. Hello Mitt Romney!

-- And this is just one of the incremental changes to come. Next, the President will announce new steps to help young people manage their federal student loan debt while they look for a job and get on their feet. He'll also take action to help small businesses and entrepreneurs, spur the engines of job growth, create new jobs, and assist veterans in finding them.

Obama is simply being dishonest. How many people realize that the government controls the student loan program in the United States. Giving out money to any breathing person with little or no underwriting standards?

How many people realize that student debt totals $1 TRILLION which surpasses the total of credit card debt?

How many people realize that some student loans are unfairly forgiven if you go to work for the government or a government-approved agency?

What do students do when they can’t get a job? They take more loans and stay in school. Like that degree in gender studies has value in the real world.

These measures alone are not a comprehensive solution to the economic challenges we face. That needs to come out of Congress -- and if they're going to finally put party aside, they're going to need to keep hearing from us. President Obama is stepping up the pressure, and he's counting on us to keep going, too.

Neither of these initiatives create jobs, so what the hell is Obama talking about?

Get the President's back and keep the heat on Congress -- tell your story of why we can't wait any longer: <link removed>

Thanks,

James

James Kvaal
Policy Director
Obama for America