The house has to pass any bill, before it can become law. No revised bill can be made law without passing in the House. So no, a president can’t simply revise a bill that has passed the House and decree it as law. But on the planet Niburu, maybe such things are possible...or maybe in an episode of the X Files.
I'm not aware of a time that Congress has stopped "Obama" from doing whatever he wants to do, unconstitutional or not. He makes his own "bills" and "laws" with his autopen.