They do however have executive authority to sign bills and pass laws. Lately President Obama hasn't had much to sign as Congress is a mess. But he can also balance a proper budget, something Clinton did in the nineties (which led to surplus).
I'm starting see Obama is no Bill Clinton, and he's certainly not John F. Kennedy. But make no mistake I'm not all for Romney I have my reservations about him.
What are they teaching in schools these days? You're certainly not in my class.
Cite in the US Constitution presidential autority to "pass laws". Presidents cannot exercise their Constitutional authority to sign a bill until it is passed by Congress.