EMBARGOED: Remarks of President Barack Obama on Energy Security at Andrews Air Force Base--As Prepared for Delivery

THE WHITE HOUSE

Office of the Press Secretary

_______________________________________________________________________________________

EMBARGOED FOR DELIVERY

March 31, 2010

 

Remarks of President Barack Obama—As Prepared for Delivery

Statement on Energy Security

Wednesday, March 31, 2010

Andrews Air Force Base, Maryland

 

As Prepared for Delivery—

 

Thank you, Secretary Salazar.  Ken and I were colleagues in the Senate, and I appointed him because I knew he’d be a faithful and pragmatic steward of our natural resources.  As Secretary, he’s changing the way the Interior Department does business so that we are responsibly developing traditional sources of energy and renewable sources of energy, from the wind on the high plains to the sun in the deserts to the waves off our coasts.

 

It’s also good to see so many members of our Armed Forces here today.  Andrews is the home of Air Force One, and I appreciate everything you do for me and my family.  You’ve got a 100-percent on-time departure record.  And you don’t charge for checking luggage.  So it’s a pretty good deal.  But in all seriousness, I want to thank you not only for the support you provide to me – but also for the service you perform to keep our country safe. 

 

We are here today to talk about America’s energy security, an issue that has been a priority for my administration since the day I took office.  Already, we’ve made the largest investment in clean energy in our nation’s history.  It’s an investment that’s expected to create or save more than 700,000 jobs across America: jobs manufacturing advanced batteries for more efficient vehicles, upgrading the power grid so that it’s smarter and stronger, and doubling our nation’s capacity to generate renewable electricity from sources like the wind and the sun.

 

Just a few months after taking office, I also gathered the leaders of the world’s largest automakers, the heads of labor unions, environmental advocates, and public officials from California and across the country to reach an historic agreement to raise fuel economy standards in cars and trucks.  Tomorrow, after decades in which we have done little to increase auto efficiency, those new standards will be finalized, which will reduce our dependence on oil while helping folks spend a little less at the pump.  So my administration is upholding its end of the deal, and we expect all parties to do the same.  I’d also point out: this rule will not only save drivers money; it will save 1.8 billion barrels of oil.  That’s like taking 58 million cars off the road for an entire year.

 

Today, we’re also going one step further.  In order to save energy and taxpayer dollars, my administration – led by Secretary Chu at Energy and Administrator Johnson at GSA – is doubling the number of hybrid vehicles in the federal fleet, even as we seek to reduce the number of cars and trucks used by our government overall.  We’re going to lead by example and practice what we preach: cutting waste, saving energy, and reducing our reliance on foreign oil. 

 

But we have to do more.  We need to make continued investments in clean coal technologies and advanced biofuels.  A few weeks ago, I announced loan guarantees to break ground on America’s first new nuclear facility in three decades, a project that will create thousands of jobs.  And in the short term, as we transition to cleaner energy sources, we’ll have to make tough decisions about opening new offshore areas for oil and gas development in ways that protect communities and coastlines. 

 

This is not a decision that I’ve made lightly.  It’s one Ken and I – as well as Carol Browner, my energy advisor in the White House, and others in my administration – looked at closely for more than a year.  But the bottom line is this: given our energy needs, in order to sustain economic growth, produce jobs, and keep our businesses competitive, we’re going to need to harness traditional sources of fuel even as we ramp up production of new sources of renewable, homegrown energy.

 

So today we’re announcing the expansion of offshore oil and gas exploration – but in ways that balance the need to harness domestic energy resources and the need to protect America’s natural resources.  Under the leadership of Secretary Salazar, we’ll employ new technologies that reduce the impact of oil exploration.  We’ll protect areas vital to tourism, the environment, and our national security.  And we’ll be guided not by political ideology, but by scientific evidence.  That's why my administration will consider potential new areas for development in the mid and south Atlantic and the Gulf of Mexico, while studying and protecting sensitive areas in the Arctic.  That’s why we’ll continue to support development of leased areas off the North Slope of Alaska, while protecting Alaska’s Bristol Bay.

 

There will be those who strongly disagree with this decision, including those who say we should not open any new areas to drilling.  But what I want to emphasize is that this announcement is part of a broader strategy that will move us from an economy that runs on fossil fuels and foreign oil to one that relies more on homegrown fuels and clean energy.  And the only way this transition will succeed is if it strengthens our economy in the short term and long term.  To fail to recognize this reality would be a mistake.

 

On the other side, there will be those who argue that we do not go nearly far enough; who suggest we open all of our waters to energy exploration without any restriction or regard for the broader environmental and economic impact. They’d deny the fact that with less than 2 percent of oil reserves, but more than 20 percent of world consumption, drilling alone cannot come close to meeting our long-term energy needs, and that for the sake of the planet and our energy independence, we need to begin the transition to cleaner fuels now.

 

Ultimately, we need to move beyond the tired debates between right and left, between business leaders and environmentalists, between those who would claim drilling is a cure all and those who would claim it has no place.  Because this issue is just too important to allow our progress to languish while we fight the same old battles over and over again. 

 

For decades we’ve talked about how our dependence on fossil fuels threatens our economy – yet our will to act rises and falls with the price of a barrel of oil.  For decades we’ve talked about the threat to future generations posed by our current system of energy – even as we can see the mounting evidence of climate change from the Arctic Circle to the Gulf Coast.  And for decades, we’ve talked about the risks to our security created by our dependence on foreign oil – even as that dependence has grown year after year after year.

 

And while our politics has remained entrenched along worn divides, the ground has shifted beneath our feet.  Around the world, countries are seeking an edge in the global marketplace by investing in new ways of producing and saving energy.  From China to Germany, these nations recognize that the country that leads the clean energy economy will be the country that leads the global economy.  Meanwhile, here at home, as politicians in Washington debate endlessly whether to act, our own military has determined that we can’t afford not to. 

 

If there was any doubt about that, you need only look to the F-18 fighter and the light armored vehicle behind me.  The Army and Marine Corps have been testing this vehicle on a mixture of biofuels.  And this Navy fighter jet – called the Green Hornet – will be flown for the first time in just a few weeks, on Earth Day.  If tests go as planned, it will be the first plane ever to fly faster than the speed of sound on a fuel mix that’s half biomass.  The Air Force is also testing jet engines using biofuels and had the first successful biofuel-powered test flight just last week. Though I don’t want to drum up any kind of rivalry.

 

Now, the Pentagon isn’t seeking these alternative fuels just to protect our environment; they are pursuing these homegrown energy sources to protect our national security.  Our military leaders recognize the security imperative of increasing the use of alternative fuels, decreasing energy use, and reducing our reliance on imported oil.  That’s why the Navy, led by Secretary Mabus who is here today, has set a goal of using 50-percent alternative fuel in all planes, vehicles, and ships in the next ten years.  And that’s why the Defense Department has invested $2.7 billion this year alone to improve energy efficiency.

 

Moving toward clean energy is about our security.  It’s about our economy.  And it’s about the future of our planet.  And what I hope is that the policies we’ve laid out – from hybrid fleets to offshore drilling, from nuclear energy to wind energy – underscore the seriousness with which my administration takes this challenge.  It’s a challenge that requires us to think and act anew. 

 

So I am open to proposals from my Democratic and Republican friends.  I believe we can move beyond the broken politics of the past.  And I know that we can come together to pass comprehensive energy and climate legislation that will foster new industries and millions of new jobs protecting our planet and helping us become more energy independent.  That’s what we can do.  That’s what we must do.  And I am confident that that is what we will do.

 

Thank you.

 

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EMBARGOED: Weekly Address: Reforms Will End Student Loan Bank Subsidies and Expand Access to College

THE WHITE HOUSE
Office of the Press Secretary
______________________________________________________________________________
EMBARGOED UNTIL 6:00 AM ET, SATURDAY, March 27, 2010

WEEKLY ADDRESS: Reforms Will End Student Loan Bank Subsidies and Expand Access to College

 

WASHINGTON – In this week’s address, President Barack Obama praised the bold reforms to the higher education system passed by Congress this week.  These reforms save the taxpayers $68 billion over the next decade by ending the subsidies given to banks and middlemen who handle student loans.  The money saved will help expand and strengthen the federal Pell Grant program.  The reforms will also cap college graduates’ annual student loan repayments at 10% of their income, revitalize community colleges, and increase support for Minority Serving Institutions. 

 

The full audio of the address is HERE. The video can be viewed online at www.whitehouse.gov.

 

Remarks of President Barack Obama

Weekly Address

The White House

March 27, 2009

 

This was a momentous week for America.  It was a week in which together, we took bold new steps toward restoring economic security for our middle class and rebuilding a stronger foundation for our future.  It was a week in which some of the change that generations have hoped for and worked for finally became reality in America.

 

It began with the passage of comprehensive health insurance reform that will begin to end the worst practices of the insurance industry, rein in our exploding deficits, and, over time, finally offer millions of families and small businesses quality, affordable care – and the security and peace of mind that comes with it.

 

And it ended with Congress casting a final vote on another piece of legislation that accomplished what we’ve been talking about for decades – legislation that will reform our student loan system and help us educate all Americans to compete and win in the 21^st century.

 

Year after year, we’ve seen billions of taxpayer dollars handed out as subsidies to the bankers and middlemen who handle federal student loans, when that money should have gone to advancing the dreams of our students and working families.  And yet attempts to fix this problem and reform this program were thwarted by special interests that fought tooth and nail to preserve their exclusive giveaway.

 

But this time, we said, would be different.  We said we’d stand up to the special interests, and stand up for the interests of students and families.   That’s what happened this week.  And I commend all the Senators and Representatives who did the right thing.

 

This reform of the federal student loan programs will save taxpayers $68 billion over the next decade.  And with this legislation, we’re putting that money to use achieving a goal I set for America: by the end of this decade, we will once again have the highest proportion of college graduates in the world.

 

To make college more affordable for millions of middle-class Americans for whom the cost of higher education has become an unbearable burden, we’re expanding federal Pell Grants for students: increasing them to keep pace with inflation in the coming years and putting the program on a stronger financial footing.  In total, we’re doubling funding for the federal Pell Grant program to help the students who depend on it. 

 

To make sure our students don’t go broke just because they chose to go to college, we’re making it easier for graduates to afford their student loan payments.  Today, about 2 in 3 graduates take out loans to pay for college.  The average student ends up with more than $23,000 in debt.  So when this change takes effect in 2014, we’ll cap a graduate’s annual student loan repayments at 10 percent of his or her income.

 

To help an additional 5 million Americans earn degrees and certificates over the next decade, we’re revitalizing programming at our community colleges – the career pathways for millions of dislocated workers and working families across this country.  These schools are centers of learning; where students young and old can get the skills and technical training they need for the jobs of today and tomorrow.  They’re centers of opportunity; where we can forge partnerships between students and businesses so that every community can gain the workforce it needs.  And they are vital to our economic future.

 

And to ensure that all our students have every chance to live up to their full potential, this legislation also increases support for our Minority Serving Institutions, including our Historically Black Colleges and Universities, to keep them as strong as ever in this new century.

 

Education.  Health care.  Two of the most important pillars of a strong America grew stronger this week.  These achievements don’t represent the end of our challenges; nor do they signify the end of the work that faces our country.  But what they do represent is real and major reform.  What they show is that we’re a nation still capable of doing big things.  What they prove is what’s possible when we can come together to overcome the politics of the moment; push back on the special interests; and look beyond the next election to do what’s right for the next generation.

 

That’s the spirit in which we continue the work of tackling our greatest common tasks – an economy rebuilt; job creation revitalized; an American Dream renewed – for all our people.

 

Thank you.

 

 

EMBARGOED: Remarks of President Obama on the Announcement of New START Treaty

THE WHITE HOUSE

Office of the Press Secretary

_______________________________________________________________________________________

EMBARGOED UNTIL DELIVERY

March 26, 2010

 

Remarks of President Barack Obama – As Prepared for Delivery

Announcement of New START Treaty

The White House

Friday, March 26, 2010

 

Good morning.  I just concluded a productive phone call with President Medvedev. And I’m pleased to announce that after a year of intense negotiations, the United States and Russia have agreed to the most comprehensive arms control agreement in nearly two decades.

 

Since taking office, one of my highest national security priorities has been addressing the threat posed to the American people by nuclear weapons. That is why – last April in Prague – I stated America’s intention to pursue the peace and security of a world without nuclear weapons, a goal that has been embraced by Presidents like John F. Kennedy and Ronald Reagan.

 

While this aspiration will not be reached in the near future, I put forward a comprehensive agenda to pursuit it – to stop the spread of these weapons; to secure vulnerable nuclear materials from terrorists; and to reduce nuclear arsenals. A fundamental part of that effort was the negotiation of a new Strategic Arms Reduction Treaty with Russia.

 

Furthermore, since I took office, I have been committed to a “reset” of our relations with Russia. When the United States and Russia can cooperate effectively, it advances the mutual interests of our two nations, and the security and prosperity of the wider world. We have worked together on Afghanistan. We have coordinated our economic efforts through the G-20. We are working together to pressure Iran to meet its international obligations. And today, we have reached agreement on one of my Administration’s top priorities – a pivotal new arms control agreement.

 

In many ways, nuclear weapons represent both the darkest days of the Cold War, and the most troubling threats of our time. Today, we have taken another step forward in leaving behind the legacy of the 20^th century while building a more secure future for our children. We have turned words into action. We have made progress that is clear and concrete. And we have demonstrated the importance of American leadership – and American partnership – on behalf of our own security, and the world’s.

 

Broadly speaking, the new START Treaty makes progress in several areas. It cuts – by about a third – the nuclear weapons that the United States and Russia will deploy. It significantly reduces missiles and launchers. It puts in place a strong and effective verification regime. And it maintains the flexibility that we need to protect and advance our national security, and to guarantee our unwavering commitment to the security of our Allies.

 

With this agreement, the United States and Russia – the two largest nuclear powers in the world – also send a clear signal that we intend to lead. By upholding our own commitments under the Nuclear Non-Proliferation treaty, we strengthen our global efforts to stop the spread of these weapons, and to ensure that other nations meet their own responsibilities.

 

I am pleased that almost one year to the day after my last trip to Prague, the Czech Republic – a close friend and ally of the United States – has agreed to host President Medvedev and me on April 8^th, as we sign this historic Treaty. The following week, I look forward to hosting leaders from over forty nations here in Washington, as we convene a Summit to address how we can secure vulnerable nuclear materials so that they never fall into the hands of terrorists. And later this spring, the world will come together in New York to discuss how we can build on this progress, and continue to strengthen the global non-proliferation regime.

 

Through all of these efforts, cooperation between the United States and Russia will be essential. I want to thank President Medvedev for his personal and sustained leadership as we worked to reach this agreement. We have had the opportunity to meet many times over the last year, and we both agree that we can serve the interests of our people through close cooperation.

 

I also want to thank my national security team, who did so much work to make this day possible. That includes the leaders with me here today – Secretary Clinton, Secretary Gates, and Admiral Mullen. And it also includes a tireless negotiating team. It took patience.  It took perseverance.  But we never gave up.  And as a result, the United States will be more secure, and the American people will be safer.

 

Finally, I look forward to continuing to work closely with Congress in the months ahead. There is a long tradition of bipartisan leadership on arms control. Presidents of both parties have recognized the necessity of securing and reducing these weapons. Statesmen like George Shultz, Sam Nunn, Henry Kissinger, and Bill Perry have been outspoken in their support of more assertive action. Earlier this week, I met again with my friends John Kerry and Dick Lugar to discuss this Treaty, and throughout the morning, my Administration will be consulting Senators from both parties as we prepare for what I hope will be strong, bipartisan support to ratify the new START treaty.

 

With that, I’ll leave you in the able hands of my Secretary of State, Hillary Clinton. Thank you everybody.

 

 

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EMBARGOED: Remarks of President Barack Obama on Health Care Reform at the University of Iowa--As Prepared for Delivery

THE WHITE HOUSE

Office of the Press Secretary

_______________________________________________________________________________________

EMBARGOED UNTIL DELIVERY

March 25, 2010

 

 

Remarks of President Barack Obama—As Prepared for Delivery

Health Care Reform

Thursday, March 25, 2010

Iowa City, Iowa

 

 

As Prepared for Delivery--

 

Hello, Iowa City!  Thank you Secretary Sebelius for that introduction, and for all the amazing and tireless work you’ve done to make health care reform a reality.  I also feel your pain.  In my bracket, I had Kansas winning the entire championship, so I’m a little bit bitter too.  But I want to congratulate all the Northern Iowa fans in this part of the state on their big win. 

 

I also want to start off by telling the folks here how inspired I’ve been by your continued resilience in the wake of the floods that devastated this region a few years back.  I know the rebuilding has been difficult, but you should know that you always have a committed partner in this Administration to support you on the road to recovery.

 

It is so good to be back in the great state of Iowa.  This is the state that believed in our campaign when all the pundits had written us off.  This is the state that inspired us to keep going, even when the path was uncertain.  And because of you, this is the place where change began. 

 

Three years ago, I came here to make a promise.  Just a few months into our campaign, I stood at the University of Iowa hospital right around the corner and promised that by the end of my first term in office, I would sign a health insurance reform bill. 

 

On Tuesday, after a year of debate and a century of trying, after so many of you shared your stories and your heartaches and your hopes, that promise was finally fulfilled.  And today, health insurance reform is the law of the land. 

 

Just like the campaign that led us here, this historic change did not begin in Washington.  It began in places just like this, with Americans just like you. 

 

It began when people had the courage to stand up at town hall meetings and talk about how insurance companies were denying their families coverage because of a pre-existing condition. 

 

It began when folks wrote letters about how premium hikes of 40% and 50% and 100% were forcing them to give up their insurance. 

 

It began when countless small business owners and families and doctors shared stories about a health care system that works better for the insurance industry than it does for the American people.

 

And now, this is your victory.  Because when the special interests sent an army of lobbyists to Congress and blanketed the airwaves with millions in negative ads, you mobilized and organized and refused to give up.  When the pundits were obsessing over who was up and who was down, you never lost sight of what was right and what was wrong.  You knew this wasn’t about the fortunes of any one party -- this was about the future of our country.  And today, because of what you did, that future looks stronger and more hopeful than it has in some time. 

 

Over the last year, there’s been a lot of misinformation spread about health care reform.  There has been plenty of fear-mongering and overheated rhetoric.  And if you turn on the news, you’ll see that those same folks are still shouting about how the world will end because we passed this bill.  This is not an exaggeration.  Leaders of the Republican Party have actually been calling the passage of this bill “Armageddon.” 

 

But from this day forward, all of the cynics and the naysayers will have to finally confront the reality of what this reform is and what it isn’t. 

 

They will have to finally acknowledge that this isn’t a government takeover of our health care system.  They will see that if Americans like their doctor, they will keep their doctor.  If people like their plan, they will keep their plan.  No one will be able to take that away from you.   

 

What this reform does is build on the system of private health insurance that we already have.  Will it solve every health care problem we have?  No.  But it finally tells the insurance companies that in exchange for all the new customers they’re about to get, they have to start playing by a new set of rules that treat everyone fairly and honestly.  The days of the insurance industry running roughshod over the American people are over. 

 

And so if you already have insurance, this reform will make it more secure and more affordable.  If you can’t afford insurance right now or have been denied coverage, you’ll finally be able to get it.  And costs will come down for families, businesses, and the federal government, reducing our deficit by more than $1 trillion over the next two decades.  That’s what reform will do. 

 

Now, it will take about four years to implement this entire plan – because we need to do it responsibly and we need to get it right.  That means that health care costs won’t go down overnight.  But we have built into the law all sorts of measures to assure that in years to come, health care inflation, which has been rising about three times as fast as people’s wages, will start slowing.  We’ll start reducing the waste in the system, from unnecessary tests to unwarranted insurance subsidies.  So over time, Americans will save money. 

 

Meanwhile, there are a set of reforms that will take effect this year.  This year, millions of small business owners will be eligible for tax credits that will help them cover the cost of insurance for their employees.  And let me talk about what this means for a business like your own Prairie Lights Bookstore downtown.  This is a small business that’s been offering coverage to their full-time employees for the last twenty years.  Last year their premiums went up 35%, which made it a lot harder for them to offer the same coverage.  On Tuesday, I was joined at the bill signing by Ryan Smith, who runs a small business with five employees.  His premiums are going up too, and he’s worried he’ll have to stop offering health insurance to his workers. 

 

Starting now, small business owners like Ryan and the folks at Prairie Lights will have the security of knowing that they could qualify for a tax credit that covers up to 35% of their employees’ health insurance.  Starting today, small business owners can sit down at the end of the week, look at their expenses, and begin calculating how much money they’re going to save.  And maybe they can even use that savings to hire that extra employee they’ve needed.  This health care tax credit is pro-jobs, it’s pro-business, and it starts this year. 

 

Starting this year, tens of thousands of uninsured Americans with a preexisting condition and parents whose children have a pre-existing condition will finally be able to purchase the coverage they need.  On Tuesday, I met David Gallagher, whose daughter Lauren had written me a letter last year.  When Lauren’s mom lost her job, their entire family lost their health insurance.  When they tried to get new insurance, David was denied coverage because he once had a complication-free hernia surgery.  Lauren’s been worried sick about what would happen if her father became ill or injured.  But now, because of this reform, David Gallagher can finally have access to health insurance again.  That starts this year.    

 

This year, insurance companies will no longer be able to drop people’s coverage when they get sick; or place lifetime limits or restrictive annual limits on the amount of care they can receive. 

 

This year, all new insurance plans will be required to offer free preventive care. 

 

For all the students here today, starting this year, if you don’t have insurance, all new plans and some current ones will allow you to stay on your parents’ insurance policy until you’re 26 years old.  Because as you start your lives and your careers, the last thing you should worry about is whether you’ll go broke just because you get sick. 

 

And this year, seniors who fall in the coverage gap known as the doughnut hole will receive $250 to help pay for prescriptions, which will be the first step toward closing that gap completely.  And I want seniors to know: despite what some have said, these reforms will not cut your guaranteed benefits.  In fact, under this law, Americans on Medicare will receive free preventive care, without co-payments or deductibles.  Darlyne Neff is here today.  She’s a breast cancer survivor, and she has fought her heart out for reform over the last few years.  Today, the preventive care she needs will finally be covered without any charge.  That’s what reform will do. 

 

Once this reform is implemented, health insurance exchanges will be created, a competitive marketplace where uninsured people and small businesses will finally be able to purchase affordable, quality insurance.  That will happen in the next few years.  And when this exchange is up and running, millions of people will get tax breaks to help them afford coverage – credits that add up to the largest middle class tax cut for health care in history. 

 

This is the reform that some folks in Washington are still hollering about.  And now that it’s passed, they’re already promising to repeal it.  They’re actually going to run on a platform of repeal in November. 

 

Well I say go for it.  If these Congressmen in Washington want to come here to Iowa and tell small business owners that they plan to take away their tax credits and essentially raise their taxes, be my guest.  If they want to look Lauren Gallagher in the eye and tell her they plan to take away her father’s health insurance, that’s their right.  If they want to make Darlyne Neff pay more money for her check-ups and her mammograms, they can run on that platform.  If they want to have that fight, I welcome that fight.  Because I don’t believe the American people are going to put the insurance industry back in the driver’s seat.  We’ve been there already and we’re not going back.  This country is ready to move forward. 

 

Iowa, the road to this victory has been long and it has been difficult.  It is a struggle that many brave Americans have waged for years.  For others, like our friend Ted Kennedy, it is a struggle that was waged for nearly a lifetime.

 

But what this struggle has taught us – about ourselves and about this country – is so much bigger than any one issue.  It has reminded us of what we learned all those months ago on a cold January night here in Iowa:  that change, while never easy, is always possible.  That it comes not from the halls of power, but from the hearts of our people.  Amid setbacks, it requires perseverance.  Amid calls for delay, it requires a sense of urgency.  And in the face of unrelenting cynicism, it requires unyielding hope. 

 

When I came here three years ago, I told the story of when Lyndon Johnson stood with Harry Truman and signed Medicare into law.  And as he looked out over the crowd in Independence, Missouri that day, he said, “History shapes men, but it is a necessary faith of leadership that men can help shape history.” 

 

What this generation has proven today is that we still have it within our power to shape history.  In the United States of America, it is still a necessary faith that our destiny will be written by us, not for us.  Our future is still what we make of it. 

 

Iowa, this is not the end of difficult times for America.  From creating jobs to reducing the deficit to giving every child a decent education, we still face enormous challenges in this country.  And as we meet those challenges, we will face more resistance.  We will face more doubt and more cynicism.  We will hear more voices who will warn us that we are reaching too far and too fast; who will tell us that we can’t. 

 

But when we do, let us remember the promise we have fulfilled, the people who fulfilled it, and the generations before us who made it possible; and let us respond with the creed that continues to define the character of this country we love:  Yes, we can. 

 

Thank you, Iowa, God bless you, and may God bless the United States of America. 

 

 

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EMBARGOED: Weekly Address: President Obama Urges Action on Financial Reform

 

THE WHITE HOUSE
Office of the Press Secretary
______________________________________________________________________________
EMBARGOED UNTIL 6:00 AM ET, SATURDAY, March 20, 2010

WEEKLY ADDRESS: President Obama Urges Action on Financial Reform

 

WASHINGTON – In this week’s address, President Barack Obama reiterated his call for comprehensive reforms to the financial system including commonsense rules of the road and a Consumer Financial Protection Agency that will advocate for everyday Americans. The President also urged the Senate to remain strong and resist the pressure of those who wish to preserve the status quo.

 

The audio and video will be available online at www.whitehouse.gov at 6:00 am ET, Saturday, March 20, 2010.

 

Remarks of President Barack Obama

As Prepared for Delivery

Weekly Address

March 20, 2010

 

On Monday, the Banking Committee of the United States Senate will debate a proposal to address the abuse and excess that led to the worst financial crisis in generations.  These reforms are essential.  As I’ve urged over the past year, we need common-sense rules that will our allow markets to function fairly and freely while reining in the worst practices of the financial industry.  That’s the central lesson of this crisis.  And we fail to heed that lesson at our peril.

 

Of course, there were many causes of the economic turmoil that ripped through our country over the past two years.  But it was a crisis that began in our financial system.  Large banks engaged in reckless financial speculation without regard for the consequences – and without tough oversight.  Financial firms invented and sold complicated financial products to escape scrutiny and conceal enormous risks.  And there were some who engaged in the rampant exploitation of consumers to turn a quick profit no matter who was hurt in the process. 

 

Now, I have long been a vigorous defender of free markets.  And I believe we need a strong and vibrant financial sector so that businesses can get loans; families can afford mortgages; entrepreneurs can find the capital to start a new company, sell a new product, offer a new service.  But what we have seen over the past two years is that without reasonable and clear rules to check abuse and protect families, markets don’t function freely.  In fact, it was just the opposite.  In the absence of such rules, our financial markets spun out of control, credit markets froze, and our economy nearly plummeted into a second Great Depression.

 

That’s why financial reform is so necessary.  And after months of bipartisan work, Senator Chris Dodd and his committee have offered a strong foundation for reform, in line with the proposal I previously laid out, and in line with the reform bill passed by the House. 

 

It would provide greater scrutiny of large financial firms to prevent any one company from threatening the entire financial system – and it would update the rules so that complicated financial products like derivatives are no longer bought and sold without oversight.  It would prevent banks from engaging in risky dealings through their own hedge funds – while finally giving shareholders a say on executive salaries and bonuses.  And through new tools to break up failing financial firms, it would help ensure that taxpayers are never again forced to bail out a big bank because it is “too big to fail.”

 

Finally, these reforms include a new Consumer Financial Protection Agency to prevent predatory loan practices and other abuses to ensure that consumers get clear information about loans and other financial products before they sign on the dotted line.  Because this financial crisis wasn’t just the result of decisions made by large financial firms; it was also the result of decisions made by ordinary Americans to open credit cards and take on mortgages.  And while there were many who took out loans they knew they couldn’t afford, there were also millions of people who signed contracts they didn’t fully understand offered by lenders who didn’t always tell the truth.

 

This is in part because the job of protecting consumers is spread across seven different federal agencies, none of which has the interests of ordinary Americans as its principal concern.  This diffusion of responsibility has made it easier for credit card companies to lure customers with attractive offers then punish them in the fine print; for payday lenders and others who charge outrageous interest to operate without much oversight; and for mortgage brokers to entice homebuyers with low initial rates only to trap them with ballooning payments down the line. 

 

For these banking reforms to be complete – for these reforms to meet the measure of the crisis we’ve just been through – we need a consumer agency to advocate for ordinary Americans and help enforce the rules that protect them.  That’s why I won’t accept any attempts to undermine the independence of this agency.  And I won’t accept efforts to create loopholes for the most egregious abusers of consumers, from payday lenders to auto finance companies to credit card companies. 

 

Unsurprisingly, this proposal has been a source of contention with financial firms who like things just the way they are.  In fact, the Republican leader in the House reportedly met with a top executive of one of America’s largest banks and made thwarting reform a key part of his party’s pitch for campaign contributions.  And this week, the allies of banks and consumer finance companies launched a multimillion dollar ad campaign to fight against the proposal.  You might call this ‘air support’ for the army of lobbyists already arm twisting members of the committee to reject these reforms and block this consumer agency.  Perhaps that’s why, after months of working with Democrats, Republicans walked away from this proposal.  I regret that and urge them to reconsider.

 

The fact is, it’s now been well over a year since the near collapse of the entire financial system – a crisis that helped wipe out more than 8 million jobs and that continues to exact a terrible toll throughout our economy.  Yet today the very same system that allowed this turmoil remains in place.  No one disputes that.  No one denies that reform is needed.  So the question we have to answer is very simple: will we learn from this crisis, or will we condemn ourselves to repeat it?  That’s what’s at stake.

 

I urge those in the Senate who support these reforms to remain strong, to resist the pressure from those who would preserve the status quo, to stand up for their constituents and our country.   And I promise to use every tool at my disposal to see these reforms enacted: to ensure that the bill I sign into law reflects not the special interests of Wall Street, but the best interests of the American people.

 

Thank you.

EMBARGOED: Remarks of President Obama on Health Insurance Reform at George Mason University

THE WHITE HOUSE

Office of the Press Secretary

_______________________________________________________________________________________

EMBARGOED UNTIL DELIVERY

March 19, 2010

 

Remarks of President Barack Obama on Health Insurance Reform – As Prepared for Delivery

George Mason University

Friday, March 19, 2010

 

 

Hello, George Mason! 

 

It is great to be back here with a group of real Patriots.  I first visited this university three years ago.  At the time, my campaign for the presidency was just a few weeks old.  We didn’t have much money or staff.  Our poll numbers were pretty low.  A lot of people still couldn’t pronounce my name, and most pundits didn’t think it was worth trying.   

 

But what we had even then was a group of students here at George Mason who believed that if we worked hard enough, and fought long enough, and organized enough supporters, we could finally bring change to that city across the river.  We believed back then that we could make Washington work – not for the lobbyists, not for the special interests, not for politicians, but for the American people. 

 

And that’s exactly what this health care vote is all about. 

 

A few miles from here, Congress is in the final stages of a fateful debate about the future of health insurance in America.  It is a debate that has raged not just for the past year, but for much of the past century.  It’s a debate that is not only about the cost of our health care but the character of our country – about whether we can still meet the challenges of our time; about whether we’re still a nation that gives its citizens a chance to reach their dreams.   

 

At the heart of this debate is the question of whether we will continue to accept a health care system that works better for the insurance companies than it does for the American people.  Because if this vote fails, the insurance industry will continue to run wild in America.  They will continue to deny people coverage.  They will continue to deny people care.  They will continue to jack up premiums 40% or 50% or 60% as they have in the last few weeks without any accountability whatsoever.  They know this.  That’s why their lobbyists are stalking the halls of Congress as we speak.  That’s why they’re pouring millions of dollars into negative ads.  That’s why they’re doing everything they can to kill this bill. 

 

So the only question left is this:

 

Are we going to let the special interests win again?  Or are we going to make this vote a victory for the American people? 

 

George Mason, the time for reform is now. 

 

After a year of debate, every proposal has been put on the table.  Every argument has been made.  And we have incorporated the best ideas from Democrats and Republicans into a final proposal that builds on the system of private insurance that we currently have.  The insurance industry and its supporters in Congress have tried to portray this as radical change.  But what we’re talking about here is common-sense reform.   

 

If you like your doctor, you’ll be able to keep your doctor.  If you like your plan, you’ll be able to keep your plan.  Because I don’t believe we should give the government or the insurance companies more control over health care in America.  I believe it’s time to give you – the American people – more control over your health insurance. 

 

The proposal that Congress is about to vote on will do that in three ways:

 

First, we will finally end the worst practices of insurance companies.  Starting this year, thousands of uninsured Americans with pre-existing conditions will be able to purchase health insurance – some for the first time in their lives.  This year, insurance companies will be banned forever from denying coverage to children with pre-existing conditions.  This year, they will be banned from dropping your coverage when you get sick.  Those practices will end. 

 

If this reform becomes law, all new insurance plans will be required to offer free preventive care to their customers – starting this year.  Starting this year, if you buy a new plan, there will be no more lifetime or restrictive annual limits on the amount of care you receive from your insurance companies.  And here’s what reform will mean for so many of the students who are here today:  starting this year, if you don’t have insurance, all new plans will allow you to stay on your parents’ insurance policy until you’re 26 years old.  Because as you start your lives and your careers, the last thing you should worry about is whether you’ll go broke just because you get sick. 

 

The second thing that would change about the current system is this: for the first time, small business owners and people who are being priced out of the insurance market will have the same kind of choice of private health insurance that Members of Congress get for themselves.  For the first time, small business owners and middle-class families will be able to purchase affordable health insurance in a competitive marketplace.  And if you still can’t afford the insurance in this new marketplace, we will offer you tax credits to do so – tax credits that add up to the largest middle class tax cut for health care in history. 

 

Now, it’s true that all of this will cost money – about $100 billion per year.  But most of the cost comes from money that America’s already spending in the health care system – it’s just not all going to health care.  Instead, too much money is going toward waste, or fraud, or unwarranted subsidies for insurance companies.  With this plan, we’re going to make sure the dollars we spend go toward making insurance more affordable.  We’re going to eliminate wasteful taxpayer subsidies that currently go to insurance companies.  And we will set a new fee on insurance companies that stand to gain as millions of Americans are able to buy insurance.  Here’s the point: our proposal is paid for. 

 

Finally, my proposal would bring down the cost of health care for families, businesses, and the federal government.  Americans buying comparable coverage to what they have today in the individual market would see premiums fall by 14 to 20 percent.  For Americans who get their insurance through the workplace, costs could be as much as $3,000 a person less than they would be if we do nothing.  Altogether, our cost-cutting measures would reduce most people’s premiums and bring down our deficit by more than $1 trillion over the next two decades.  And those aren’t my numbers; they are the savings determined by the Congressional Budget Office, the nonpartisan, independent referee of Congress. 

 

So this is our proposal.  This is what the United States Congress is about to vote on this weekend.  And of course, all that Washington can talk about is the politics of the vote.  What does it mean for November?  What does it mean for our poll numbers?  What does it mean for the Democrats or the Republicans? 

 

I’ll confess – I don’t know how this plays politically.  Nobody really does.  But what I do know what it will mean for America’s future.  I don’t know what impact reform will have on our poll numbers.  But I know the impact it will have on the millions of Americans who need our help. 

 

I know what reform will mean for people like Leslie Banks, a single mom from Pennsylvania who’s trying to put her daughter through college.  Her insurance company just sent her a letter saying they plan to double her premiums this year – double her premiums.  Leslie Banks needs us to pass this bill. 

 

I know what reform will mean for people like Laura Klitzka.  Laura thought she had beaten her breast cancer but later discovered it spread to her bones.  She and her husband had insurance but their medical bills still landed them in debt, and now she spends her time worrying about that debt when all she wants to do is spend time with her two children.  Laura Klitzka needs us to pass this bill. 

 

And I know what reform will mean for people like Natoma Canfield.  When her insurance company raised her rates, Natoma was forced to give up her coverage, even though she was scared as anything that a sudden illness would lead to financial ruin.  And now she’s lying in a hospital bed, faced with just such an illness, praying that she can somehow afford to get well.  Natoma Canfield knows that the time for reform is now. 

 

George Mason, the time for reform is now. 

 

In just a few days, a century-long struggle will culminate in an historic vote.  And when we have faced such decisions in our past, this nation has chosen time and again to extend its promise to more of its people. 

 

When the naysayers argued that Social Security would lead to socialism, the men and women of Congress stood fast, and created a program that has lifted millions of poverty. 

 

When the cynics warned that Medicare would lead to a government takeover of our entire health care system, and it didn’t have much support in the polls, Democrats and Republicans refused to back down, and made sure that all of us could enter our golden years with some basic peace of mind. 

 

Generations ago, those who came before made the decision that our seniors and our poor should not be forced to go without health care just because they couldn’t afford it.  Today, it falls to this generation to decide whether we will make the same promise to middle-class families, and small businesses, and young Americans like yourselves who are just starting out. 

 

I know this has been a difficult journey.  I know this will be a tough vote.  I know that Washington has treated this debate like a sport.  But I also remember a quote I saw on a plaque in the White House the other day.  It’s hanging in the same room where I demanded answers from the insurance executives, and received only excuses.  It’s a quote from Teddy Roosevelt, who first called for health care reform all those years ago.  It says, “Aggressive fighting for the right is the noblest sport the world affords.” 

 

George Mason, I don’t know how passing health care will play politically.  But I know it’s right.  Teddy Roosevelt knew it was right.  Harry Truman knew it was right.  Our dear friend Ted Kennedy – he knew more than anyone that this is right. 

 

And if you believe it’s right too, I need you to help us finish the fight that they started.  I need you to stand with me.  Just like I did when I came here three years ago at the beginning of our campaign, I need you to knock on doors, and talk to your neighbors, and pick up the phone, and make your voices heard so that they can hear you on the other side of the river.  I still believe we can do what’s right.  I still believe we can do what’s hard.  The need is great.  The opportunity is here.  And the time for reform is now.  Thank you. 

 

 

 

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EMBARGOED: Remarks of President Obama on Health Insurance Reform in Strongsville, Ohio

THE WHITE HOUSE

Office of the Press Secretary

_______________________________________________________________________________________

EMBARGOED UNTIL DELIVERY

March 15, 2010

 

 

Remarks of President Barack Obama – As Prepared for Delivery

Monday, March 15, 2010

Strongsville, Ohio

 

Hello, Ohio!  It’s great to be here in the Buckeye State.  And it’s even better to be out of Washington for a little while.

 

I want to thank Connie and her family for being here on behalf of Natoma.  It’s not easy to share such a personal story.  I appreciate your willingness to do so.  I want you to know that she is the reason that I am here today.  I know that she felt it was important that her story be told.

 

Last month, I read a letter from Natoma.  She’s self-employed, trying to make ends meet, and has for years done the responsible thing: buying health insurance through the individual market. 

 

The thing is, sixteen years ago, she was diagnosed with a form of treatable cancer.  And even though she had been cancer free for more than a decade, the insurance company kept jacking up her rates anyway, year after year.  So she increased her out-of-pocket expenses.  She raised her deductible.  She was doing everything she could to maintain health insurance that would be there for her in case she got sick.

 

But even as she upped her deductible to the maximum, last year Natoma’s insurance company raised her premiums by more than 25 percent.  Over the past year, she paid more than $6,000 in monthly premiums.  She paid more than $4,000 out-of-pocket for co-pays, medical care, and prescriptions.  So she ponied up more than $10,000 dollars.  But because she never hit her deductible, her insurer only spent $900 on her care.  And yet what comes in the mail at the end of last year?  A letter telling Natoma that her premiums would go up again by more than 40 percent. 

 

She just could not afford it.  She didn’t have the money.  And despite her desire to keep her coverage – despite her fears that she would get sick and lose the home her parents built – she finally surrendered and gave up her health insurance.  January was her last month of being insured.  Like so many responsible Americans – folks who work hard every day, who try to do the right thing – she was forced to hang her fortunes on chance.  She hoped against hope she would stay healthy.  She feared terribly she would not.

 

That was the letter.  And I understand Natoma was pretty surprised when she found out that I read it – word for word – to the CEOs of America’s largest insurance companies – including the company that hiked up her rates by more than 40 percent. 

 

This was less than two weeks ago.  But then Natoma’s worst fears were realized.  Just last week, she was working on a nearby farm, walking outside – apparently, chasing after a cow – when she collapsed.  She was rushed to the hospital.  She was very sick.  She needed two blood transfusions.  Doctors performed a battery of tests.  And on Saturday, Natoma was diagnosed with leukemia – a serious form of cancer. 

 

The reason Natoma is not here today is that she’s lying in a hospital bed, suddenly faced with this emergency – suddenly thrust into a fight for her life.  She expects to face a month or more of aggressive chemotherapy.  And she is racked with worry not only about her illness but about the cost of the tests and treatments she will surely need to beat it.

 

I’m here because of Natoma. 

 

I’m here because of countless others who have been forced to face the hardest and most terrifying challenges in their lives with the added burden of medical bills they cannot pay. 

 

I’m here because I remember my own mother, in the last six months of her life, on the phone in her hospital room arguing with insurance companies when she should have been spending time with her family. 

 

I’m here because of the millions denied coverage because of pre-existing conditions – or dropped from coverage when they get sick. 

 

I’m here because of the small businesses forced to choose between health care and hiring.

 

I’m here because of the seniors unable to afford the prescriptions they need. 

 

I’m here because of the folks seeing premiums going up by thirty, forty, fifty percent in a year. 

 

I am here because this is not the America I believe in – and it’s not the America you believe in.

 

And so when you hear people say “start over” – I want you to think of Natoma.  When you hear people saying that this isn’t the “right time” – think of what she’s going through.  When you hear people talk about who’s up and who’s down in the polls – instead of what’s right or what’s wrong for the country – think of her and the millions of responsible people – working people – being hurt by today’s system of health insurance.  And I want you to remember: There but for the grace of God go I. 

 

This status quo on health care is simply unsustainable.  We cannot have a system that works better for the insurance companies than it does for the American people.  We know what will happen if we fail to act.  We know our government will be plunged deeper into debt.  We know millions more people will lose coverage.  And we know that rising costs will saddle millions more families with unaffordable expenses – and will force many small businesses to drop coverage altogether.  A study just came out yesterday – a non-partisan study – which found that without reform, premiums could more than double for individuals and families over the next decade.  Family policies could pass $25,000.  Can you afford that? 

 

We have debated health care in Washington for more than a year.  Every proposal has been put on the table.  Every argument has been made.  I know many people view this as a partisan issue, but both parties have found plenty of areas where we agree.  And what we’ve ended up with is a proposal that’s somewhere in the middle – one that incorporates the best ideas from Democrats and Republicans. 

 

On one side of the spectrum, there were those who wanted to scrap our system of private insurance and replace it with government-run health care.  But I didn’t think that was practical or realistic. 

 

On the other side of the spectrum, there are those who believe the answer is to simply unleash the insurance industry, by providing less oversight and fewer rules.  I call this the “putting the foxes in charge of the hen house” approach.  It would only give insurance companies more leeway to raise premiums and deny care. 

 

I don’t believe we should give the government or the insurance companies more control over health care in America.  I believe it’s time to give you – the American people – more control over your own health insurance. 

 

That’s why my proposal builds on the current system where most Americans get their health insurance from their employer.  If you like your plan, you can keep your plan.  If you like your doctor, you can keep your doctor.  I wouldn’t want any plan that interferes with the relationship between a family and their doctor.

 

Essentially, my proposal would change three things about the current health care system.  First, it would end the worst practices of insurance companies.  Within the first year of signing health care reform, thousands of uninsured Americans with pre-existing conditions will be able to purchase health insurance for the first time in their lives.  This year, insurance companies will be banned forever from denying coverage to children with pre-existing conditions.  This year, they will be banned from dropping your coverage when you get sick.  Those practices will end. 

 

If this reform becomes law, all new insurance plans will be required to offer free preventive care to their customers starting this year – free check-ups so we can start catching preventable illnesses on the front end.  Starting this year, if you buy a new plan, there will be no more lifetime or restrictive annual limits on the amount of care you receive from your insurance companies.  And if you’re an uninsured young adult, you’ll be able to stay on your parents’ policy until you’re 26 years old. 

 

The second thing that would change about the current system is this: for the first time, uninsured individuals and small businesses will have the same kind of choice of private health insurance that Members of Congress get for themselves.  If this reform becomes law, Members of Congress will be getting their insurance from the same place the uninsured get theirs.  Because if it’s good enough for the American people, it ought to be good enough for the people you send to Washington. 

 

My proposal also says that if you still can’t afford the insurance in this new marketplace, we will offer you tax credits to do so – tax credits that add up to the largest middle class tax cut for health care in history.  After all, the wealthiest among us can already buy the best insurance there is, and the least well-off are able to get coverage through Medicaid.  But it’s the middle-class that gets squeezed, and that’s who we have to help. 

 

Now, it’s true that all of this will cost money – about $100 billion per year.  But most of this comes from the nearly $2.5 trillion a year that America already spends on health care.  It’s just that right now, a lot of that money is being spent badly.  With this plan, we’re going to make sure the dollars we spend go toward making insurance more affordable and more secure.  We’re also going to eliminate wasteful taxpayer subsidies that currently go to insurance companies.  And we will set a new fee on insurance companies that stand to gain as millions of Americans are able to buy insurance.  Here’s the point: our proposal is paid for. 

 

Finally, my proposal would bring down the cost of health care for families, businesses, and the federal government.  Americans buying comparable coverage to what they have today in the individual market would see premiums fall by 14 to 20 percent.  For Americans who get their insurance through the workplace, costs could fall by as much as $3,000 a person. 

 

By now, we have incorporated most of the serious ideas from across the political spectrum about how to contain the rising cost of health care – ideas that go after the waste and abuse in our system, especially in programs like Medicare.  Our cost-cutting measures would reduce most people’s premiums and bring down our deficit by up to $1 trillion over the next two decades.  And those aren’t my numbers; they are the savings determined by the Congressional Budget Office, the nonpartisan, independent referee of Congress. 

 

Now, the opponents of reform have tried a lot of different arguments to stop these changes.  But maybe the most insidious is the idea that somehow this would hurt Medicare.  And I know we’ve got some seniors with us today.  So let me just tell you directly: this proposal adds almost a decade of solvency to Medicare.  This proposal would close that gap in prescription drug coverage – called the doughnut hole – that sticks seniors with thousands of dollars in drug costs.  This proposal will over time help to reduce the costs of Medicare that you pay every month.  And this proposal would make preventive care free so you don’t have to pay out-of-pocket for tests that keep you healthy. 

 

Yes, we are going after the waste, fraud, and abuse in Medicare.  But that’s because these are dollars that should be spent on care for seniors, not the care and feeding of insurance companies through subsidies and sweetheart deals.  Every senior should know: there is no cutting of your guaranteed Medicare benefits.  Period.  This proposal makes Medicare stronger, makes the coverage better, and makes its finances more secure.  Anyone who says otherwise is misinformed – or is trying to misinform you. 

 

So that’s the proposal.  And I believe Congress owes the American people a final up-or-down vote.  Of course, now that we’re approaching this vote, we’re hearing a lot of people in Washington talking about the politics.  Talking about what this means for November.  Talking about the poll numbers for the Democrats and the Republicans.  But that’s why I wanted to come here today. 

 

Because in the end, this debate is about far more than the politics.  It's about what kind of country we want to be.  It’s about the millions of lives that would be touched and, in some cases, saved by making private health insurance more secure and more affordable.  It’s about a woman, lying in a hospital bed, who wants nothing more than to be able to pay for the care she needs.

 

And the truth is, what is at stake in this debate is not just our ability to solve this problem, but our ability to solve any problem.  The American people want to know if it's still possible for Washington to look out for their interests and their future.  They are waiting for us to act.  They are waiting for us to lead.  And as long as I hold this office, I intend to provide that leadership.  I don’t know about the politics.  But I know what’s right.  So I am calling on Congress to pass these reforms – and I look forward to signing them into law. 

 

Thank you, God bless you, and God bless the United States of America. 

 

 

 

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