Embargoed: Remarks of President Barack Obama at G-20 Press Conference--As Prepared for Delivery

THE WHITE HOUSE

Office of the Press Secretary

_______________________________________________________________________________________

EMBARGOED UNTIL DELIVERY

June 27, 2010

 

Remarks of President Barack Obama—As Prepared for Deliver

G-20 Press Conference

Toronto, Canada

Sunday, June 27, 2010

 

As Prepared for Delivery—

 

Good evening. I want to thank our wonderful hosts—my friend and partner President Harper, as well as the Canadian people, for their hospitality.  The success of these summits—the G-8 in Muskoka and the G-20 here in Toronto—is a tribute to Canadian leadership.  I also want to thank my fellow leaders for the sense of purpose that they brought to this summit. 

 

The G-20 is now the premier forum for international economic cooperation.  We represent East and West, North and South, advanced economies and those still emerging.  Our challenges are as diverse as our nations.  But together we represent some 85 percent of the global economy, and we have forged a coordinated response to the worst global economic crisis of our time.

 

In London last year, we took unprecedented action—to prevent an even larger economic catastrophe, to put our economies on the path to recovery and to begin reforming our financial system so that a crisis like the one we’re emerging from never happens again.          

 

In Pittsburgh we went further—moving beyond the old economic cycles of boom and bust by committing our nations to a new framework for growth that is balanced and sustained, as well as specific financial reforms.

 

Our bold action succeeded.  In the United States, we are committed – above all – to leading by example. Because of the steps that we’ve taken to get our economy moving, we are growing again, and this growth is beginning to translate into job creation. And we are now also poised to pass the toughest financial reform since the aftermath of a Great Depression.

 

Globally, economic contraction has given way to economic growth.  Trade that had plummeted is rebounding.  Emerging economies in particular are seeing impressive growth. So we have pulled ourselves back from the brink, and begun to move forward with economic recovery.

 

But as we all know, this is not good enough.  In the United States and around the world, too many people are still out of work.  In too many economies, demand for goods and services is still weak.  As we have been reminded in recent months, a financial crisis in one country can have consequences far beyond its borders.  And as history teaches us, growth and prosperity is never guaranteed.  It requires constant effort.  It requires continued leadership.

 

So we came to Toronto with three specific goals—to make sure the global recovery is strong and durable; to continue reforming the financial system; and to address the range of global issues that affect our prosperity and security.  And we made important progress in each of these areas.

 

First, to ensure the recovery is strong and durable, we agreed to continue coordinating our efforts so we are creating jobs.  This is my highest economic priority as President. And that is why we are focused on increasing global demand.  Every economy is unique, and every country will chart its own unique course, but make no mistake—we’re moving in the same direction.

 

As I reiterated to my colleagues, after years of taking on too much debt, Americans cannot—and will not—borrow and buy the world’s way to lasting prosperity.  No nation should assume its path to prosperity is paved with exports to America.  Indeed, I’ve made it clear that the United States will compete aggressively for the jobs and industries and markets of the future. 

 

That is why I have set the goal of doubling our exports over the next five years—an increase that would support millions of jobs in the United States.  It’s why I have launched a National Export Initiative to help meet this goal.  It’s why we focused earlier this week on deepening our economic cooperation with Russia – which would benefit both of our countries – including restarting our poultry exports, and accelerating our efforts to support Russia’s entry into the WTO. And it’s why I announced that my Administration will work to resolve outstanding issues regarding the United States-Korea Free Trade Agreement by my visit to Korea in November.  This will create new jobs and opportunity for people in both our countries, and enhance America’s competitiveness in the 21^st century.

 

A strong and durable recovery also requires countries not having an undue advantage. So we also discussed the need for currencies that are market-driven.  As I told President Hu yesterday, the United States welcomes China’s decision to allow its currency to appreciate in response to market forces.

 

And because a durable recovery must also include fiscal responsibility, we agreed to balance the need for continued growth in the short-term and fiscal sustainability in the medium-term. In the United States, I’ve set a goal of cutting our deficit in half by 2013. A number of our European partners are making difficult decisions.   But we must recognize that our fiscal health tomorrow will rest in no small measure on our ability to create jobs and growth today.

 

Second – we advanced our goal of financial reform. Just as we are on the verge of passing financial reforms at home, our European partners have committed to the process we went through in the U.S.—a new level of transparency and stress tests for banks to rebuild confidence. 

 

Here in Toronto, we reaffirmed our commitment to the highest global standards. To maintain momentum, we directed our teams to finalize for our meeting in Seoul a global framework to ensure that banks hold enough capital to withstand the stresses of government intervention.  Rules must clear.  Oversight must be strong.  Complex trades—like derivatives—must be brought into the light of day.  Excessive risk-taking and abusive practices must be prevented.  Consumers must be protected.  In short, we have to do everything in our power to avoid a repeat of the recent financial crisis.

 

Finally, we made progress on a range of global challenges that are critical to shared prosperity.  We’re moving forward with the food security initiative that we announced last year, including by launching a special fund at the World Bank which will strengthen farmers' productivity in the poorest countries. And we made progress toward a new coordinated approach so that we can invest more than $20 billion to reduce hunger and promote agricultural development. 

 

The G-20 leaders renewed our commitment, made in Pittsburgh, to phase out inefficient fossil fuel subsidies. The United States has laid out our plans for achieving this goal, and we’re urging our G-20 partners to do so as well. This would be one of the most important steps we can take to create clean energy jobs, increase our energy security and address the threat of climate change.

 

And I am pleased we endorsed my proposal to broaden the G-20 agenda to include the fight against corruption.  In too many places, the culture of the bribe is a brake on development and prosperity. It discourages entrepreneurship, destroys public trust, undermines the rule of law and stifles economic growth.  With a new commitment to strengthening and enforcing rules against corruption, economic opportunity and prosperity will be more broadly shared. 

  

Let me conclude by saying that I know that much of the focus coming into these meetings was on whether our nations would be divided by different approaches. But as we have proven repeatedly over the last 18 months, our nations can come together through the G-20, and build on the foundation of our shared interests. Indeed, that is the purpose of these meetings. We can bridge our differences. We can coordinate our approaches. And we can continue our relentless focus on durable growth that puts our people to work, and broadens prosperity for the world. Thank you.

 

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EMBARGOED: Weekly Address: President Obama Urges Congress to Complete Work on Wall Street Reform Bill

 

THE WHITE HOUSE
Office of the Press Secretary
______________________________________________________________________________
EMBARGOED UNTIL 6:00 AM ET, SATURDAY, June 26, 2010

WEEKLY ADDRESS: President Obama Urges Congress to Complete Work on Wall Street Reform Bill

 

WASHINGTON – In this week’s address, President Barack Obama asks Congress to pass historic Wall Street reform which will make the toughest financial reforms since the Great Depression the law of the land.  The Wall Street reform bill, which reflects 90 percent of what the President originally proposed, includes the strongest consumer financial protections in history with an independent agency to enforce them.  It ensures that the trading of derivatives, which helped trigger the crisis, will be brought into the light of day, and enacts the “Volcker Rule,” which will make sure banks protected by safety nets like the FDIC cannot engage in risky trades. And, this bill will create a resolution authority to wind down firms whose collapse would threaten the entire financial system.  Wall Street reform will end taxpayer funded bailouts and make sure Main Street is never again held responsible for Wall Street’s mistakes.

 

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

 

Remarks of President Barack Obama

Saturday, June 26, 2010

Weekly Address

Washington, DC

 

This weekend, I’m traveling to Toronto to meet with members of the G20. There, I hope we can build on the progress we made at last year’s G20 summits by coordinating our global financial reform efforts to make sure a crisis like the one from which we are still recovering never happens again. We’ve made great progress toward passing such reform here at home. As I speak, we are on the cusp of enacting the toughest financial reforms since the Great Depression.

 

I don’t have to tell you why these reforms are so important. We’re still digging ourselves out of an economic crisis that happened largely because there wasn’t strong enough oversight on Wall Street. We can’t build a strong economy in America over the long-run without ending this status quo, and laying a new foundation for growth and prosperity.

 

That’s what the Wall Street reforms currently making their way through Congress will help us do – reforms that represent 90% of what I proposed when I took up this fight. We’ll put in place the strongest consumer financial protections in American history, and create an independent agency with an independent director and an independent budget to enforce them.

 

Credit card companies will no longer be able to mislead you with pages and pages of fine print. You will no longer be subject to all kinds of hidden fees and penalties, or the predatory practices of unscrupulous lenders.

 

Instead, we’ll make sure credit card companies and mortgage companies play by the rules.  And you’ll be empowered with easy-to-understand forms, and the clear and concise information you need to make the financial decisions that are best for you and your family.

 

Wall Street reform will also strengthen our economy in a number of other ways. We’ll make our financial system more transparent by bringing the kinds of complex trades that helped trigger this crisis – trades in a $600 trillion derivatives market – finally into the light of day.

 

We’ll enact what’s called the Volcker Rule to make sure banks protected by a safety net like the FDIC can’t engage in risky trades for their own profit. We’ll create what’s called a resolution authority to help wind down firms whose collapse would threaten our entire financial system. Put simply, we’ll end the days of taxpayer-funded bailouts, and help make sure Main Street is never again held responsible for Wall Street’s mistakes.

 

Beyond these reforms, we also need to address another piece of unfinished business. We need to impose a fee on the banks that were the biggest beneficiaries of taxpayer assistance at the height of our financial crisis – so we can recover every dime of taxpayer money.

 

Getting this far on Wall Street reform hasn’t been easy. There are those who’ve fought tooth and nail to preserve the status quo. In recent months, they’ve spent millions of dollars and hired an army of lobbyists to stop reform dead in its tracks.

 

But because we refused to back down, and kept fighting, we now stand on the verge of victory. And I urge Congress to take us over the finish line, and send me a reform bill I can sign into law, so we can empower our people with consumer protections, and help prevent a financial crisis like this from ever happening again.

 

 

EMBARGOED: Weekly Address: President Obama Says Republicans in Congress Blocking Important Progress

THE WHITE HOUSE
Office of the Press Secretary
______________________________________________________________________________
EMBARGOED UNTIL 6:00 AM ET, SATURDAY, June 19, 2010

WEEKLY ADDRESS: President Obama Says Republicans in Congress Blocking Important Progress

 

WASHINGTON – In this week’s address, President Barack Obama called on Congress to put scoring political points aside, and instead to focus on solving the problems facing the nation.  The Republican leadership is currently blocking progress on a bill to boost the economy, retain jobs for teachers and cops, and help people buy their first home; another bill which would hold oil companies accountable for any disasters they cause by removing the current $75 million liability cap; and 136 highly qualified men and women who have been nominated to government positions.  In these challenging times, elected leaders in Washington need to remember that they have an obligation that goes beyond upcoming elections – an obligation to care for the next generation.

 

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

 

Remarks of President Barack Obama

Saturday, June 19, 2010

Weekly Address

Washington, DC

 

At this moment, our nation is facing a host of big and difficult challenges.   And more than anything else, what’s required to meet those challenges right now is a sense of cooperation and common purpose among our leaders.  What we need is a willingness in Washington to put the public’s interests first – a willingness to score fewer political points so that we can start solving more problems. 

 

That’s why I was disappointed this week to see a dreary and familiar politics get in the way of our ability to move forward on a series of critical issues that have a direct impact on people’s lives.

 

In the United States Senate, we have legislation that would boost our economic recovery and help Americans who’ve been affected by the worst recession in generations.  We’ve certainly made progress since we were losing 750,000 jobs per month around the time I took office.  Our economy is growing again, and we’ve added jobs for five straight months.   But there are still millions of Americans out of work, and millions more who are struggling to pay the bills.  The legislation in the Senate right now would extend unemployment benefits to those workers who lost their job through no fault of their own.  It would provide relief to struggling states that would help save the jobs of thousands of teachers and cops and firefighters.  There are also provisions in this legislation that would extend the tax credit for first-time homebuyers, as well as tax cuts to keep research and development jobs here in the United States.

 

Unfortunately, the Republican leadership in the Senate won’t even allow this legislation to come up for a vote.  And if this obstruction continues, unemployed Americans will see their benefits stop.  Teachers and firefighters will lose their jobs.  Families will pay more for their first home. 

 

All we ask for is a simple up or down vote.  That’s what the American people deserve.  Just like they deserve an up or down vote on legislation that would hold oil companies accountable for the disasters they cause – a vote that is also being blocked by the Republican leadership in the Senate.  Right now, the law places a $75 million cap on the amount oil companies must pay to families and small businesses who suffer economic losses as a result of a spill like the one we’re witnessing in the Gulf Coast.  We should remove that cap.  But the Republican leadership won’t even allow a debate or a vote.

 

And as we speak today, 136 men and women who I’ve nominated for key positions in the federal government are awaiting a vote on the floor of the Senate.  All are highly qualified.  Very few are controversial.  The vast majority already have support from both parties.  But most of them are seeing their nominations intentionally delayed by Republican leaders, or even blocked altogether.  They cannot get a vote.  What this means is that, at a moment when our country is facing so many challenges – a time when we need all hands on deck – we cannot get the qualified people we need to start the jobs they were appointed to do. 

 

Look, the nature of our democracy is that we’ll always have disagreements and debates -- even heated ones.  That’s healthy and it’s important.  But let’s argue over genuine differences – over ideas and policies.  And let’s go into those debates with an open mind – a willingness to find common ground and a conviction that, in the end, one way or another, we will have a vote to decide them.  Next week, I’ll be meeting with a bipartisan group of Senators to discuss how we can transition away from our dependence on fossil fuels and embrace a clean energy future.  I don’t expect that we’ll agree on a solution right away.  In fact, I know that there will be plenty of disagreement and different ideas.  But at least it shows that Republicans and Democrats can still sit down together in an attempt to tackle the big challenges facing our nation. 

 

I know the political season is upon us in Washington.  But gridlock as a political strategy is destructive to the country.  Whether we are Democrats or Republicans, we’ve got an obligation that goes beyond caring about the next election.  We have an obligation to care for the next generation.  So I hope that when Congress returns next week, they do so with a greater spirit of compromise and cooperation.  America will be watching.   

 

Thanks.

 

 

EMBARGOED UNTIL DELIVERY: Remarks of President Barack Obama's Address to the Nation on the BP Oil Spill--As Prepared for Delivery

THE WHITE HOUSE

Office of the Press Secretary

_______________________________________________________________________________________

EMBARGOED UNTIL DELIVERY

June 15, 2010

 

 

Remarks of President Barack Obama-As Prepared for Delivery

Address to the Nation on the BP Oil Spill

Tuesday, June 15, 2010

Oval Office

 

As Prepared for Delivery—

 

Good evening.  As we speak, our nation faces a multitude of challenges.  At home, our top priority is to recover and rebuild from a recession that has touched the lives of nearly every American.  Abroad, our brave men and women in uniform are taking the fight to al Qaeda wherever it exists.  And tonight, I’ve returned from a trip to the Gulf Coast to speak with you about the battle we’re waging against an oil spill that is assaulting our shores and our citizens.

 

On April 20^th, an explosion ripped through BP’s Deepwater Horizon drilling rig, about forty miles off the coast of Louisiana.  Eleven workers lost their lives.  Seventeen others were injured.  And soon, nearly a mile beneath the surface of the ocean, oil began spewing into the water.

 

Because there has never been a leak of this size at this depth, stopping it has tested the limits of human technology.  That is why just after the rig sank, I assembled a team of our nation’s best scientists and engineers to tackle this challenge – a team led by Dr. Steven Chu, a Nobel Prize-winning physicist and our nation’s Secretary of Energy.  Scientists at our national labs and experts from academia and other oil companies have also provided ideas and advice.

 

As a result of these efforts, we have directed BP to mobilize additional equipment and technology.  In the coming days and weeks, these efforts should capture up to 90% of the oil leaking out of the well.  This is until the company finishes drilling a relief well later in the summer that is expected to stop the leak completely. 

 

Already, this oil spill is the worst environmental disaster America has ever faced.  And unlike an earthquake or a hurricane, it is not a single event that does its damage in a matter of minutes or days.  The millions of gallons of oil that have spilled into the Gulf of Mexico are more like an epidemic, one that we will be fighting for months and even years. 

 

But make no mistake:  we will fight this spill with everything we’ve got for as long it takes.  We will make BP pay for the damage their company has caused.  And we will do whatever’s necessary to help the Gulf Coast and its people recover from this tragedy. 

 

Tonight I’d like to lay out for you what our battle plan is going forward:  what we’re doing to clean up the oil, what we’re doing to help our neighbors in the Gulf, and what we’re doing to make sure that a catastrophe like this never happens again. 

 

First, the cleanup.  From the very beginning of this crisis, the federal government has been in charge of the largest environmental cleanup effort in our nation’s history – an effort led by Admiral Thad Allen, who has almost forty years of experience responding to disasters.  We now have nearly 30,000 personnel who are working across four states to contain and cleanup the oil.  Thousands of ships and other vessels are responding in the Gulf.  And I have authorized the deployment of over 17,000 National Guard members along the coast.  These servicemen and women are ready to help stop the oil from coming ashore, clean beaches, train response workers, or even help with processing claims – and I urge the governors in the affected states to activate these troops as soon as possible. 

 

Because of our efforts, millions of gallons of oil have already been removed from the water through burning, skimming, and other collection methods.  Over five and a half million feet of boom has been laid across the water to block and absorb the approaching oil.  We have approved the construction of new barrier islands in Louisiana to try and stop the oil before it reaches the shore, and we are working with Alabama, Mississippi, and Florida to implement creative approaches to their unique coastlines. 

 

As the clean up continues, we will offer whatever additional resources and assistance our coastal states may need.  Now, a mobilization of this speed and magnitude will never be perfect, and new challenges will always arise.  I saw and heard evidence of that during this trip.  So if something isn’t working, we want to hear about it.  If there are problems in the operation, we will fix them. 

 

But we have to recognize that despite our best efforts, oil has already caused damage to our coastline and its wildlife.  And sadly, no matter how effective our response becomes, there will be more oil and more damage before this siege is done.  That’s why the second thing we’re focused on is the recovery and restoration of the Gulf Coast. 

 

You know, for generations, men and women who call this region home have made their living from the water.  That living is now in jeopardy.  I’ve talked to shrimpers and fishermen who don’t know how they’re going to support their families this year.  I’ve seen empty docks and restaurants with fewer customers – even in areas where the beaches are not yet affected.  I’ve talked to owners of shops and hotels who wonder when the tourists will start to come back.  The sadness and anger they feel is not just about the money they’ve lost.  It’s about a wrenching anxiety that their way of life may be lost. 

 

I refuse to let that happen.  Tomorrow, I will meet with the chairman of BP and inform him that he is to set aside whatever resources are required to compensate the workers and business owners who have been harmed as a result of his company’s recklessness.  And this fund will not be controlled by BP.  In order to ensure that all legitimate claims are paid out in a fair and timely manner, the account must and will be administered by an independent, third party. 

 

Beyond compensating the people of the Gulf in the short-term, it’s also clear we need a long-term plan to restore the unique beauty and bounty of this region.  The oil spill represents just the latest blow to a place that has already suffered multiple economic disasters and decades of environmental degradation that has led to disappearing wetlands and habitats.  And the region still hasn’t recovered from Hurricanes Katrina and Rita.  That’s why we must make a commitment to the Gulf Coast that goes beyond responding to the crisis of the moment. 

 

I make that commitment tonight.  Earlier, I asked Ray Mabus, the Secretary of the Navy, a former governor of Mississippi, and a son of the Gulf, to develop a long-term Gulf Coast Restoration Plan as soon as possible.  The plan will be designed by states, local communities, tribes, fishermen, businesses, conservationists, and other Gulf residents.  And BP will pay for the impact this spill has had on the region.  

 

The third part of our response plan is the steps we’re taking to ensure that a disaster like this does not happen again.  A few months ago, I approved a proposal to consider new, limited offshore drilling under the assurance that it would be absolutely safe – that the proper technology would be in place and the necessary precautions would be taken.

 

That was obviously not the case on the Deepwater Horizon rig, and I want to know why.  The American people deserve to know why.  The families I met with last week who lost their loved ones in the explosion – these families deserve to know why.  And so I have established a National Commission to understand the causes of this disaster and offer recommendations on what additional safety and environmental standards we need to put in place.  Already, I have issued a six-month moratorium on deepwater drilling.  I know this creates difficulty for the people who work on these rigs, but for the sake of their safety, and for the sake of the entire region, we need to know the facts before we allow deepwater drilling to continue.  And while I urge the Commission to complete its work as quickly as possible, I expect them to do that work thoroughly and impartially.       

 

One place we have already begun to take action is at the agency in charge of regulating drilling and issuing permits, known as the Minerals Management Service.  Over the last decade, this agency has become emblematic of a failed philosophy that views all regulation with hostility – a philosophy that says corporations should be allowed to play by their own rules and police themselves.  At this agency, industry insiders were put in charge of industry oversight.  Oil companies showered regulators with gifts and favors, and were essentially allowed to conduct their own safety inspections and write their own regulations.  

 

When Ken Salazar became my Secretary of the Interior, one of his very first acts was to clean up the worst of the corruption at this agency.  But it’s now clear that the problems there ran much deeper, and the pace of reform was just too slow.  And so Secretary Salazar and I are bringing in new leadership at the agency – Michael Bromwich, who was a tough federal prosecutor and Inspector General.  His charge over the next few months is to build an organization that acts as the oil industry’s watchdog – not its partner. 

 

One of the lessons we’ve learned from this spill is that we need better regulations better safety standards, and better enforcement when it comes to offshore drilling.  But a larger lesson is that no matter how much we improve our regulation of the industry, drilling for oil these days entails greater risk.  After all, oil is a finite resource.  We consume more than 20% of the world’s oil, but have less than 2% of the world’s oil reserves.  And that’s part of the reason oil companies are drilling a mile beneath the surface of the ocean – because we’re running out of places to drill on land and in shallow water. 

 

For decades, we have known the days of cheap and easily accessible oil were numbered.  For decades, we have talked and talked about the need to end America’s century-long addiction to fossil fuels.  And for decades, we have failed to act with the sense of urgency that this challenge requires.  Time and again, the path forward has been blocked – not only by oil industry lobbyists, but also by a lack of political courage and candor.  

 

The consequences of our inaction are now in plain sight.  Countries like China are investing in clean energy jobs and industries that should be here in America.  Each day, we send nearly $1 billion of our wealth to foreign countries for their oil.  And today, as we look to the Gulf, we see an entire way of life being threatened by a menacing cloud of black crude. 

 

We cannot consign our children to this future.  The tragedy unfolding on our coast is the most painful and powerful reminder yet that the time to embrace a clean energy future is now.  Now is the moment for this generation to embark on a national mission to unleash American innovation and seize control of our own destiny. 

 

This is not some distant vision for America.  The transition away from fossil fuels will take some time, but over the last year and a half, we have already taken unprecedented action to jumpstart the clean energy industry.  As we speak, old factories are reopening to produce wind turbines, people are going back to work installing energy-efficient windows, and small businesses are making solar panels.  Consumers are buying more efficient cars and trucks, and families are making their homes more energy-efficient.  Scientists and researchers are discovering clean energy technologies that will someday lead to entire new industries.     

 

Each of us has a part to play in a new future that will benefit all of us.  As we recover from this recession, the transition to clean energy has the potential to grow our economy and create millions of good, middle-class jobs – but only if we accelerate that transition.  Only if we seize the moment.  And only if we rally together and act as one nation – workers and entrepreneurs; scientists and citizens; the public and private sectors.  

When I was a candidate for this office, I laid out a set of principles that would move our country towards energy independence.  Last year, the House of Representatives acted on these principles by passing a strong and comprehensive energy and climate bill – a bill that finally makes clean energy the profitable kind of energy for America’s businesses. 

 

Now, there are costs associated with this transition.  And some believe we can’t afford those costs right now.  I say we can’t afford not to change how we produce and use energy – because the long-term costs to our economy, our national security, and our environment are far greater. 

 

So I am happy to look at other ideas and approaches from either party – as long they seriously tackle our addiction to fossil fuels.  Some have suggested raising efficiency standards in our buildings like we did in our cars and trucks.  Some believe we should set standards to ensure that more of our electricity comes from wind and solar power.  Others wonder why the energy industry only spends a fraction of what the high-tech industry does on research and development – and want to rapidly boost our investments in such research and development.   

 

All of these approaches have merit, and deserve a fear hearing in the months ahead.  But the one approach I will not accept is inaction.  The one answer I will not settle for is the idea that this challenge is too big and too difficult to meet.  You see, the same thing was said about our ability to produce enough planes and tanks in World War II.  The same thing was said about our ability to harness the science and technology to land a man safely on the surface of the moon.  And yet, time and again, we have refused to settle for the paltry limits of conventional wisdom.  Instead, what has defined us as a nation since our founding is our capacity to shape our destiny – our determination to fight for the America we want for our children.  Even if we’re unsure exactly what that looks like.  Even if we don’t yet know precisely how to get there.  We know we’ll get there.   

 

It is a faith in the future that sustains us as a people.  It is that same faith that sustains our neighbors in the Gulf right now.        

 

Each year, at the beginning of shrimping season, the region’s fishermen take part in a tradition that was brought to America long ago by fishing immigrants from Europe.  It’s called “The Blessing of the Fleet,” and today it’s a celebration where clergy from different religions gather to say a prayer for the safety and success of the men and women who will soon head out to sea – some for weeks at a time. 

The ceremony goes on in good times and in bad.  It took place after Katrina, and it took place a few weeks ago – at the beginning of the most difficult season these fishermen have ever faced. 

 

And still, they came and they prayed.  For as a priest and former fisherman once said of the tradition, “The blessing is not that God has promised to remove all obstacles and dangers.  The blessing is that He is with us always,” a blessing that’s granted “…even in the midst of the storm.” 

 

The oil spill is not the last crisis America will face.  This nation has known hard times before and we will surely know them again.  What sees us through – what has always seen us through – is our strength, our resilience, and our unyielding faith that something better awaits us if we summon the courage to reach for it.  Tonight, we pray for that courage.  We pray for the people of the Gulf.  And we pray that a hand may guide us through the storm towards a brighter day.  Thank you, God Bless You, and may God Bless the United States of America.

 

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EMBARGOED: Weekly Address: President Obama Calls on Senate Republicans to Allow a Vote to Protect Medicare Reimbursements

 

THE WHITE HOUSE
Office of the Press Secretary
______________________________________________________________________________
EMBARGOED UNTIL 6:00 AM ET, SATURDAY, June 12, 2010

WEEKLY ADDRESS: President Obama Calls on Senate Republicans to Allow a Vote to Protect Medicare Reimbursements

 

WASHINGTON – In this week’s address, President Barack Obama called on Senate Republicans to stop blocking a vote to prevent a 21 percent pay cut for doctors who see Medicare patients – a pay cut that will hurt America’s seniors and their doctors. Since 2003, Congress, under Republican and Democratic leadership, has deferred these cuts in Medicare reimbursements from going into effect. The President is committed to finding a responsible, long term solution to this problem, but it is not acceptable to punish America’s seniors or the physicians who treat them. If Congress does not act, then doctors will start receiving lower Medicare reimbursements next week, which could lead to seniors losing their doctors. 

 

The full audio of the address is available HERE. The video will be available online at www.whitehouse.gov at 6:00 am ET, Saturday, June 12, 2010.

 

Remarks of President Barack Obama

Saturday, June 12, 2010

Weekly Address

Washington, DC

 

More than a decade ago, Congress set up a formula that governs how doctors get paid by the Medicare program.  The intent was to slow the growth of Medicare costs, but the result was a formula that has proposed cutting payments for America’s doctors year after year after year.  These are cuts that would not only jeopardize our physicians’ pay, but our seniors’ health care.

 

Since 2003, Congress has acted to prevent these pay cuts from going into effect.  These votes were largely bipartisan, and they succeeded when Democrats ran Congress and when Republicans ran Congress – which was most of the time.  

 

This year, a majority of Congress is willing to prevent a pay cut of 21% -- a pay cut that would undoubtedly force some doctors to stop seeing Medicare patients altogether.  But this time, some Senate Republicans may even block a vote on this issue.  After years of voting to defer these cuts, the other party is now willing to walk away from the needs of our doctors and our seniors. 

 

Now, I realize that simply kicking these cuts down the road another year is not a long-term solution to this problem.  For years, I have said that a system where doctors are left to wonder if they’ll get fairly reimbursed makes absolutely no sense.  And I am committed to permanently reforming this Medicare formula in a way that balances fiscal responsibility with the responsibility we have to doctors and seniors.  In addition, we’re already taking significant steps to slow the growth of Medicare costs through health insurance reform – not by targeting doctors and seniors, but by eliminating 50% of the waste, fraud, and abuse in the system by 2012.  This not only strengthens Medicare, it saves taxpayer dollars. 

 

I’m absolutely willing to take the difficult steps necessary to lower the cost of Medicare and put our budget on a more fiscally sustainable path.  But I’m not willing to do that by punishing hard-working physicians or the millions of Americans who count on Medicare.  That’s just wrong.  And that’s why in the short-term, Congress must act to prevent this pay cut to doctors. 

 

If they don’t act, doctors will see a 21% cut in their Medicare payments this week.  This week, doctors will start receiving these lower reimbursements from the Medicare program.  That could lead them to stop participating in the Medicare program.  And that could lead seniors to lose their doctors. 

 

We cannot allow this to happen.  We have to fix this problem so that our doctors can get paid for the life-saving services they provide and keep their doors open.  We have to fix this problem to keep the promise of Medicare for our seniors so that they get the health care they deserve.  So I urge Republicans in the Senate to at least allow a majority of Senators and Congressmen to stop this pay cut.  I urge them to stand with America’s seniors and America’s doctors. 

 

Thanks.   

 

Embargoed: Remarks of President Barack Obama at Small Business Event--As Prepared for Delivery

THE WHITE HOUSE

Office of the Press Secretary

_______________________________________________________________________________________

EMBARGOED UNTIL DELIVERY

June 11, 2010

 

Remarks of President Barack Obama—As Prepared for Delivery

With Small Business Owners

Friday, June 11, 2010

Washington, DC

 

As Prepared for Delivery—

 

I just finished a meeting with these small business owners and a few of their workers.  We talked about some of economic challenges facing these folks.  And we talked about the ways our government can make it easier for smaller firms to hire and grow.  These men and women know how important that is.  Historically, small businesses have created roughly two out of every three new jobs in our country.  To replace the millions of jobs lost in the recession, we need to make sure small companies are able to open up, expand, and add names to their payrolls. 

 

But ensuring that small businesses can thrive is about more than our economic success.  It’s about who we are as a people.  It’s about a nation where anybody with a good idea and a willingness to work can succeed.  That’s the promise of America.  It’s that promise that has drawn millions of people to our shores.  It’s what drives workers to become their own bosses.  It’s what propels basement inventors to bring their concepts to market. 

 

It’s what led two guys – Bobby Pancake and Steve Wheat, who are here today – to take a chance and try their hand at actually running restaurants.  They worked for a restaurant chain for years, but they decided to leave the corporate offices and open up their own franchises.  In fact, Bobby and Steve told me they recently opened up a sixth location.  Terry Haney, the general manager of one of their locations, is here as well. 

 

And it’s the promise of America that led Prachee Devadas to come to this country, become a citizen, and open up what has become a successful technology services company.  Prachee told me that when she started, she had just one employee.  Today, she employs more than a hundred people – including her husband Anand who is here. 

 

But the fact is, small businesses have been hit hard by the recession.  From the middle of 2007 to the end of 2008, small businesses lost 2.4 million jobs.  And because banks shrunk from lending in the midst of the financial crisis, it’s been particularly difficult for small business owners to take out loans to open up shop or expand.  It’s been hard to finance inventories, payroll, new equipment.  Now, government can’t guarantee success for these companies.  But it can knock down barriers that prevent owners from getting loans.  Government can’t create private-sector jobs.  But it can create the conditions for small business like those represented here to grow and hire more people.  That’s what has guided much of our economic agenda.

 

Last year, we enacted seven tax cuts for America’s small businesses.  So far, the Recovery Act has supported over 68,000 loans to small businesses – nearly $29 billion in new lending.  More than 1,300 banks and credit unions that had not made SBA loans since before the financial crisis are now lending again.  And more than $8 billion in federal Recovery Act contracts are now going to small businesses.  In fact, Prachee has been able to add 20 part-time and full-time workers because of the Recovery Act.

 

In addition, as a result of a bill I signed into law a few months ago, businesses are now eligible for tax cuts when they hire unemployed workers.  Companies are also able to write off more of their investments in new equipment.  And as part of the health reform package, 4 million small business owners recently received a postcard in their mailboxes from the IRS.  And it was actually good news: it told them that they could be eligible for a health care tax credit this year worth perhaps tens of thousands of dollars. 

 

These and other steps are making a difference.  Little more than a year ago, the economy was in freefall.  Today, it’s growing again.  Little more than a year ago, the economy was losing an average of 750,000 jobs each month.  It’s now been adding jobs for five months in a row.  But even though we are digging out from this recession, we still find ourselves in a pretty deep hole.  Millions of our family members, friends, and neighbors are still looking for jobs – faced with the prospect of long-term unemployment.  Credit is still less available than it should be.  As small business owners like Prachee and Bobby and Steve will tell you: we may be recovering, but we are not recovered.  We have to keep moving forward.

 

That’s why I’m urging Congress to swiftly approve a set of tax breaks and lending incentives to spur hiring and growth at small businesses.  This legislation would eliminate capital gains taxes for investment in small firms, which will help move capital to these companies across America.  And it would provide tax relief to small start ups to encourage folks to open up businesses, too. 

 

In addition, to foster more credit, this package would create the small business lending fund I proposed in my State of the Union address – to help underwrite loans through community banks.  And we’d create a new state small business credit initiative, because states facing budget shortfalls have had to scale back lending to small firms and manufacturers – working against our recovery.  I’m also urging Congress to expand and extend successful SBA programs – by increasing loan limits, for example – something that could benefit people like Bobby and Steve.

 

The fact is, since the start of my administration, we have been hearing from small businesses that want to retain and hire more employees, but need additional credit.  And we’ve been hearing from small community banks that want to lend more to small businesses, but need additional capital.  So this bill helps fulfill both needs.  And to help us create jobs without adding to our deficit, we are making the tough choices to pay for these proposals.

 

So I’m hopeful the House will pass these measures next week, and that the Senate will follow as soon as possible – with support from both Democrats and Republicans.  And I’m eager to sign this tax relief and additional lending into law.  That’s how we can continue to move our economy forward – to continue on the path from recession to recovery, and ultimately to prosperity.

 

Thank you.

 

 

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Embargoed: Remarks of President Barack Obama at Kalamazoo High School Commencement-As Prepared for Delivery

THE WHITE HOUSE

Office of the Press Secretary

_______________________________________________________________________________________

EMBARGOED UNTIL DELIVERY

June 7, 2010

 

 

Remarks of President Barack Obama-As Prepared for Delivery

Kalamazoo High School Commencement

Kalamazoo, Michigan

June 7, 2010

 

As Prepared for Delivery—

 

Good evening everyone.  Congratulations Class of 2010 on your graduation, and thank you for allowing me the honor of being part of it.  And let me acknowledge your governor, Jennifer Granholm; as well as Senators Levin and Stabenow; Congressman Upton; Superintendent Rice; and your Mayor, Bobby Hopewell, who I understand is a proud Kalamazoo Central graduate himself.  

 

Thanks also to Principal Washington for that kind introduction and for his energy, enthusiasm and leadership at this school. 

 

And I want to recognize our student speakers – Cindy and Simon – for those wonderful remarks and all their achievements here at Kalamazoo Central. 

 

Now recently, an article from your local paper, the Kalamazoo Gazette, was brought to my attention.  It ran just after this school had been chosen as one of six finalists in our Race to the Top Commencement Challenge – a contest to highlight schools that promote academic excellence and personal responsibility and that best prepare students for college and careers.  And this article quoted a young lady named Kelsey Wilson – a junior at Kalamazoo Central – who said, and I quote, “We’re the kind of school that never gets credit for what we do.  Our school is amazing.”

 

Well Kelsey, Class of 2010, members of the Kalamazoo community, I’m here tonight because after three rounds of competition, with more than 1,000 schools, and more than 170,000 votes cast, I know – and America now knows – what you’ve done at Kalamazoo Central. 

 

Together as a community, you’ve embraced the motto of this school district: “Every child, every opportunity, every time,” because you believe, like I do, that every child – regardless of what they look like, where they come from, or how much money their parents have – every child who walks through your schoolhouse doors deserves a quality education. 

 

And I’m here tonight because I think that America has a lot to learn from Kalamazoo Central about what makes for a successful school in this new century: Educators raising standards and inspiring their students to meet them.  Community members stepping up as tutors and mentors and coaches.  Parents taking an active interest in their kids’ education – attending those teacher conferences, turning off that TV, and making sure that homework gets done. 

 

Our Secretary of Education, Arne Duncan, is here tonight because these are the values – these are the changes – that he’s working to encourage in every school in this nation.  This is the key to our future.

 

But the most important ingredient is you: students who raised your sights; who aimed high and invested yourselves in your own success.  It’s no accident that so many of you have received those college admission letters, Class of 2010.  Because you worked for it.  You earned it.

 

So I agree with Kelsey: what you’ve done here at Kalamazoo Central is amazing, and I’m proud of you.  America is proud of you. 

 

Now graduates, all these folks around you with the cameras and the beaming smiles – they’ve worked hard to give you everything you need to pursue your dreams and fulfill your God-given potential.  Unfortunately, you can’t take them with you when you leave here.  No one’s going to follow you around making sure you get up in the morning, and get to class or to your job, and get all your work done on time.  Going forward, that’s all on you – responsibility for your success rests squarely on your shoulders. 

 

And the question I have for you today is this: What are each of you going to do to meet that responsibility? 

 

Now I realize that you’re all getting plenty of advice right about now – some of it helpful, some of it kind of annoying.  And I hate to pile on.  But while I’m here, I would like to offer a few thoughts based on my own experiences and my hopes for all of you, and for our country, in the years ahead.

 

First, understand that your success in life won’t be determined just by what’s given to you, or what happens to you, but by what you do with all of that – by how hard you try; how far you push yourself; how high you’re willing to reach.  Because true excellence comes only through perseverance. 

 

This wasn’t something I really understood back when I was your age.  My father left my family when I was two years old, and I was raised by a single mother.  And I had a tendency, as my mother put it, to act a bit casual about my future.  I was angry and rebellious.  I partied a little too much and studied just enough to get by, thinking that hard work and responsibility were old-fashioned conventions that didn’t pertain to me. 

 

But after a few years, living solely for my own entertainment wasn’t so entertaining anymore – and it wasn’t particularly satisfying either.  In refusing to apply myself, I didn’t have much to show for myself – nothing I could point to that I was proud of.

 

Unfortunately, all of you have come of age in a popular culture that tends to reinforce this approach to life – one that says you can be rich and successful without much effort; that glorifies celebrity, reality TV notoriety, over lasting career achievement; that tells you there’s a quick fix for every problem, a justification for every selfish desire.  And you all were raised with cell phones and iPods; texting and email; able to call up a fact, a song, a friend with the click of a button – so you’re used to instant gratification.

 

But meaningful achievement, lasting success – that doesn’t happen in an instant.  It’s not just about the twist of fate, or the lucky break, or the sudden stroke of genius.  Rather, it’s about the daily efforts, the choices large and small that add up over time.  It’s about the skills you build, the knowledge you accumulate, the energy you invest in every task, no matter how trivial or menial it may seem at the time. 

 

Kalamazoo Central alum Derek Jeter wasn’t born playing shortstop for the Yankees – he got there through years of effort.  His high school baseball coach once remarked, “I’m surprised you don’t still see the blisters on my hands from hitting ground balls just for Derek.”  He always wanted more: ‘How about one more turn in the batting cage?  Or 25 more ground balls?’”

 

Thomas Edison tested more than 6,000 different materials for just one tiny part of the light bulb he invented.  JK Rowling’s first Harry Potter book was rejected twelve times before it was finally published.  Mozart practiced for hours each day to become a musical prodigy – accumulating thousands of hours at the piano by the time he was just six years old.  And I understand that your boys’ basketball team worked long and hard to become state champions for the first time in 59 years. 

 

Today, you all have a rare and valuable chance to pursue your own passions and chase your own dreams without incurring a mountain of debt.  So you’ve got no excuse for giving anything less than your best effort. 

 

That brings me to my second piece of advice, and it’s a very simple one: don’t make excuses.  Take responsibility not just for your successes, but for your failures as well.  

 

The truth is, no matter how hard you work, you won’t necessarily ace every class or succeed in every job.  There will be times when you screw up, when you hurt the people you love, when you stray from your most deeply held values. 

 

And when that happens, it’s the easiest thing in the world to start looking around for someone to blame.  Your professor was too hard; your boss was a jerk; the coach was playing favorites; your friend just didn’t understand.  We see it every day out in Washington, with folks calling each other names and making all sorts of accusations on TV.

 

This community could have easily gone down that road.  You could have made excuses – our kids have fewer advantages, our schools have fewer resources, so how can we compete?  You could have spent years pointing fingers – blaming parents, blaming teachers, blaming the principal or the superintendent or the government. 

 

But instead, you came together.  You were honest with yourselves about where you were falling short.  And you resolved to do better – to push your kids harder, to open their minds wider, to expose them to all kinds of ideas and people and experiences. 

 

And graduates, I hope you’ll continue those efforts.  I hope that wherever you go, you won’t narrow the broad intellectual and social exposure you’ve had at Kalamazoo Central – but instead, seek to expand it.  Don’t just hang out with people who look like you, and worship like you, and share your political views.  Broaden your circle to include people with different backgrounds and life experiences.  That’s how you learn what it’s like to walk in someone else’s shoes.  That’s how you come to understand the challenges other people face. 

 

And I don’t suggest this as some kind of academic exercise, but as a way to broaden your ambit of concern and learn to see yourselves in each other.  And that brings me to my final piece of advice for you today: and that’s to give back, to be part of something greater than yourself.

 

Now I know that many of you have already served your community through efforts like your Stuff the Bus food drives and groups like Activists for Action.  And I commend you for that.

 

But I also know that many of you are the first in your families to go to college.  And right about now, you may be feeling all the weight of their hopes and expectations coming down on your shoulders. 

 

And once you start juggling those classes and activities and that campus job; and you get caught up in your own dramas and anxieties; you may feel like you’ve got enough on your plate just dealing with your own life.  It might just be easier to turn the channel when the news disturbs you; to avert your eyes when you pass the homeless man on the street; to tell yourself that other people’s problems really aren’t your responsibility.

 

But think for a minute about the consequences of that approach here in this community.  What if those Kalamazoo Promise donors had said to themselves, “Well, I can pay for my kid to go to college, why should I pay for other people’s kids too?” 

 

Think about the consequences for our country.  What if our Founding Fathers had said, “You know, colonialism is pretty oppressive, but I’m doing OK, my family’s doing OK, so why should I spend my summer in Philadelphia arguing about a Constitution?” 

 

What if those abolitionists or those civil rights workers had said, “You know, slavery is wrong, segregation is wrong, but I just don’t have time for all those meetings and marches, so I think I’ll take a pass.” 

 

And I want you to think for a minute about the extraordinary men and women who’ve worn our country’s uniform and given their last full measure of devotion to keep us safe and free.  What if they had said, “You know, I really do love this country, but why should I sacrifice so much for people I’ve never even met?”

 

You and I are here today because these people made a different choice.  They chose to step up.  They chose to serve.  And I hope you’ll follow their example.  Because there is work to be done, and your country needs you.  We’ve got an economy to rebuild, children to educate, diseases to cure, threats to face, and a devastating oil spill to clean up.  And it’ll be up to all of you to meet these challenges – to build the industries, make the discoveries, inspire the next generation, and heal the divides that continue to afflict our world. 

 

I’m not saying you have to do all of this all at once.  But, as Teddy Roosevelt once put it, I am asking you to “Do what you can, with what you’ve got, where you are.”  And I can guarantee you that wherever your journey takes you, there will be children who need mentors, senior citizens who need assistance, folks down on their luck who could use a helping hand. 

 

And once you’ve reached out and formed those connections, you’ll find that it’s a little harder to numb yourself to other people’s suffering.  It’s a little harder to ignore the national debates about the issues that affect their lives. 

 

In the end, service binds us to each other – and to our communities and our country – in a way that nothing else can.  It’s how we become more fully American. 

 

I think that’s the reason those donors created the Kalamazoo Promise in the first place – not for recognition or reward – but because of their connection to this community.  Because of their belief in your potential.  And because of their faith that you would use this gift not just to enrich your own lives, but the lives of others – and the life of our nation. 

 

And I’m told that soon after the Promise was established, a first grader approached the superintendent at the time and declared to her: “I’m going to college.  I don’t know what it is, but I’m going.”  A first grader.

 

We may never know those donors’ names.  But we know how they helped bring this community together and how you’ve embraced their Promise not just as a gift to be appreciated, but a responsibility to be fulfilled.  We know how they’ve helped inspire an entire generation of young people here in Kalamazoo to imagine a different future for themselves. 

 

And graduates, today, I am asking you to pay them back by seeking to have the same kind of impact with your own lives; by pursuing excellence in everything you do; and by serving this country that we all love. 

 

I know you can do it.  After all, you are the Giants – and with the education you’ve gotten here, and the chance you have now to continue it, there is nothing that you can’t accomplish. 

 

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

 

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