The White House

Office of the Press Secretary

Presidential Memorandum -- Delegation of Functions under Subsection 804(h)(2)(A) of the Foreign Narcotics Kingpin Designation Act

May 31, 2013

MEMORANDUM FOR THE SECRETARY OF THE TREASURY

SUBJECT: Delegation of Functions under Subsection 804(h)(2)(A) of the Foreign Narcotics Kingpin Designation Act

By the authority vested in me as President by the Constitution and the laws of the United States of America, including section 301 of title 3, United States Code, I hereby delegate the functions conferred upon the President by section 804(h)(2)(A) of the Foreign Narcotics Kingpin Designation Act (21 U.S.C. 1903(h)(2)(A)), to the Secretary of the Treasury.

You are authorized and directed to publish this memorandum in the Federal Register.

BARACK OBAMA

The White House

Office of the Press Secretary

Remarks by President Obama and NATO Secretary General Anders Rasmussen After Bilateral Meeting

Oval Office

11:45 A.M. EDT

PRESIDENT OBAMA:  It’s a great pleasure once again to welcome our Secretary of NATO, Anders Rasmussen.  He has been an extraordinary partner for us and, I believe, a great leader for NATO. 

Over the last several years, he has helped to orchestrate a very successful Lisbon summit, a very successful Chicago summit.  And, in between, he has been able to mobilize and activate NATO members to take a whole host of actions that have resulted in a more secure world and has helped to underscore the importance of this alliance in the 21st century as a baseline whereby the United States and other member nations achieve security for their people.  So I’m very grateful for his extraordinary service.

We had an excellent discussion today focused on a number of issues that are of concern to all NATO members and are of great concern to the United States.  Obviously, at the top of our list was Afghanistan, where the international coalition that has worked alongside our U.S. troops has achieved significant progress.  And we are now looking over the next several weeks to a new milestone, one that was set in Chicago, where we are transitioning to Afghan lead for combat operations in Afghanistan and NATO members and ISAF members will be shifting into a train, assist, and advise mode.

We’ve seen great progress in the Afghan National Security Forces.  We want to continue that progress.  And central to that will be those NATO members, who are contributing, continuing to work effectively with their Afghan counterparts so that moving into next year we have a successful Afghan election and we continue transition until the end of 2014 whereby our combat roles will be completed. 

We had an opportunity to discuss not only the planning for the next year and a half, but also what kinds of steps we could take post-2014 to continue to ensure that Afghan security forces are effective and can control their own borders, and that NATO members can be assured that Afghanistan will not be used as a base for terrorism in the future.

And what we’ve agreed to is that in order for us facilitate this entire process, that it would be appropriate for us to have another NATO summit next year.  And so Secretary Rasmussen will be working diligently, as he always does, to identify a host country and to plan for a 2014 NATO summit, at which time not only will we be able to underscore this final chapter in our Afghan operations, but also to paint a picture of a future whereby we’re partnering with the Afghan government on behalf of the Afghan people and on behalf of world security.

In addition to talking about Afghanistan, we also discussed the importance of continuing to improve NATO defense capabilities in a new world with new threats.  And Anders has taken the lead talking with all the NATO members about how we start building up greater and greater capacity and integration that requires burden-sharing on the part of all NATO members.  It means that, even during times of austerity, that we work smarter together to ensure that we can meet and are prepared for any threats that may arise, whether it is improving our joint surveillance capabilities or addressing new threats like cybersecurity. 

And because of Anders’s leadership, I think we’ve made real progress on this front.  One of the goals of a 2014 NATO summit would be to lock in some of the progress that’s already been made into a set of commitments that are clearly understood by all the NATO members, and I very much appreciate the work that Anders has done on that front.

We had a chance to talk about Libya, where we obviously had a very successful NATO operation to liberate Libya from a decades-long dictatorship.  We now have a Libyan government that is in a transition process.  And part of where we think we can be helpful is to ensure that a democratically elected Libyan government has the capacity to control its borders to ensure that it does not become a safe haven for terrorism.  And I think NATO has an important role to play on that front, and I know that Secretary Rasmussen recently met with the Prime Minister of Libya and had discussions about how we could provide assistance.

We are very supportive of those efforts because we think it’s critical that we have strong partners in places like North Africa that are able to meet the security needs of their own people but are also working with the international community to meet the security needs of all of us. 

And finally, I congratulated Anders on the excellent work that was done to achieve an agreement with respect to the Kosovo situation that has the potential to be historic and indicates the degree to which NATO forces in that region continue to play a very important role in underwriting the security of people who historically, obviously, have been racked by all sorts of conflict and violence.  And we’re very supportive of those efforts. 

It’s one more example of the kind of leadership that Secretary Rasmussen has shown during the course of his tenure.  We appreciate the fact that he has extended that tenure longer than he and his family originally anticipated, but we’re all very fortunate that he’s taken on this assignment.  And I look forward to continuing productive work with him and his entire team at NATO over the next year of his service.

Thank you very much.

SECRETARY RASMUSSEN:  Thank you very much, Mr. President for your kind words.  Thank you for the support.  Thank you for your strong commitment to a strong NATO.

NATO brings together 28 nations that share the same values -- freedom, democracy, the rule of law.  And those 28 nations offer a pool of forces and capabilities that is second to none.  After almost two decades of operations, our forces are stronger and more experienced than ever.  And in these tough economic times, NATO's collective and multilateral defense is far more effective and far more efficient than any individual national capability.  Through NATO, you get more value for money -- you get more security for money.

Now, our main operation is our ISAF mission in Afghanistan.  Our goal is in sight.  Soon, we will reach an important milestone.  The Afghans will take the lead for security across the country.  Our troops will move into a support role.  By the end of 2014, our combat mission will be completed, our combat troops will return home, the Afghan security forces will take full responsibility for the security -- but we will still be there to train, advise, and assist. 

And to that end, we are now preparing a training mission to be established from 2015.  It will be a very different mission -- a non-combat mission with a significantly lower number of troops and trainers.  So we are determinedly moving towards our goal:  an Afghanistan that can stand on its own feet.  But the Afghans will not stand alone.  We are prepared for an enduring partnership with the Afghan people.

As we draw down our operations, we will enhance the modernization of our defense to ensure effective protection of our populations against new and emerging security threats and challenges.  That's why we are building a NATO missile defense, strengthening cybersecurity, and we will step up joint military exercises, training, and education to maintain and further develop our ability to work and operate together.

Today, the President and I have discussed this vision of change from a deployed NATO to a prepared NATO.  And we look very much forward to further outlining and discussing this shared mission with NATO allies at the summit in 2014. 

PRESIDENT OBAMA:  Thank you, Secretary.

SECRETARY RASMUSSEN:  Thank you.

PRESIDENT OBAMA:  Thank you, everybody. 

END
11:57 A.M. EDT

If Congress Doesn't Act, Rates for New Federal Student Loans Will Double

Watch this video on YouTube

This morning, when President Obama called on Congress to prevent federal student loan rates from doubling on July 1, he returned to a familiar theme.

A year ago, we were in the same place -- just a few weeks out from seeing the average student with these loans racking up an additional $1,000 in debt.

So speaking from the Rose Garden, the President discussed his long-term plan to keep student loan rates from doubling, and give students and their families certainty about college costs. He asked the students and young people in attendance to speak out in favor of action on college affordability, just as they did in 2012.

"Last year, you convinced 186 Republicans in the House and 24 Republicans in the Senate to work with Democrats to keep student loan rates low," he said. "You made something bipartisan happen in this town that is -- that's a powerful thing. You guys were able to get Democrats and Republicans to vote for something that was important. So this year, if it looks like your representatives have changed their minds, you're going to have to call them up again or email them again or Tweet them again and ask them what happened, what changed?"

President Obama Speaks on College Affordability

May 31, 2013 | 11:33 | Public Domain

With student loan interest rates set to double on July 1, President Obama discusses his plan to keep college affordable for millions of students and middle class families and prevent rates from going up.

Download mp4 (424MB) | mp3 (28MB)

Read the Transcript

Remarks by the President on College Affordability

Rose Garden

10:26 A.M. EDT
 
THE PRESIDENT:  Good morning, everybody.  Have a seat.  Have a seat.  Welcome to the White House.  I know it’s a little warm.  (Laughter.) 
 
One of my favorite things about this job is that I get to spend some time with remarkable young people from all across the country.  It inspires me.  It makes me feel good.  Those of you who have had to put on suits and ties and show up at the White House first thing on a Friday morning may not feel the same way I do -- (laughter) -- but I appreciate all of you being here.  You cleaned up very well. 
 
And these students and graduates are here to talk about something that matters to millions of young people and their families, and that’s the cost of a college education.  Because this isn’t just critical for their futures, but it’s also critical for America’s future.
 
Over the past four and a half years, we’ve been fighting our way back from a financial crisis and an incredibly punishing recession -- the worst since the Great Depression -- and it cost millions of Americans their jobs and their homes, the sense of security that they’d spent their lives building up. 
 
The good news is, today, our businesses have created nearly 7 million new jobs over the past 38 months.  500,000 of those jobs are in manufacturing.  We’re producing more of our own energy, we’re consuming less energy, and we’re importing less from other countries.  The housing market is coming back.  The stock market has rebounded.  Our deficits are shrinking at the fastest pace in 50 years.  People’s retirement savings are growing again.  The rise of health care costs are slowing.  The American auto industry is back.
 
So we’re seeing progress, and the economy is starting to pick up steam.  The gears are starting to turn again, and we’re getting some traction.  But the thing is, the way we measure our progress as a country is not just where the stock market is; it’s not just to how well the folks at the top are doing; it’s not just about the aggregate economic numbers.  It’s about how much progress ordinary families are making.  Are we creating ladders of opportunity for everybody who’s willing to work hard?  Are we creating not only a growing economy, but also the engine that is critical to long-lasting, sustained economic growth -- and that is a rising, thriving middle class.  That’s our focus.  That’s what we’ve got to be concerned about every single day.  That’s our North Star.
 
And that means there are three questions we have to ask ourselves as a nation.  Number one:  How do we make America a magnet for good jobs in this competitive 21st century economy?  Number two:  How do we make sure that our workers earn the skills and education they need to do those jobs?  And number three:  How do we make sure those jobs actually pay a decent wage or salary, so that people can save for retirement, send their kids to college?
 
Those are the questions we’ve got to be asking ourselves every single day.  So we’re here today to talk about that second question.  How do we make sure our workers earn the skills and education they need to do the jobs that companies are hiring for right now, and are going to keep hiring for in the future?  We know that the surest path to the middle class is some form of higher education -- a four-year degree, a community college degree, an advanced degree.  You’re going to need more than just a high school education to succeed in this economy. 
 
And the young people here today, they get that.  They’re working through college; maybe just graduated.  And earning their degree isn’t just the best investment that they can make for their future -- it’s the best investment that they can make in America’s future. 
 
But like a lot of young people all across the country, these students have had to take on more and more and more debt to pay for this investment.  Since most of today’s college students were born, tuition and fees at public universities have more than doubled.  And these days, the average student who takes out loans to pay for four years of college graduates owing more than $26,000.  How many people are on track here for $26,000? 
 
And that doesn’t just hold back our young graduates.  It holds back our entire middle class, because Americans now owe more on our student loans than we do on our credit cards.  And those payments can last for years, even decades, which means that young people are putting off buying their first car, or their first house -- the things that grow our economy and create new jobs.  And I’ve said this before, I know this firsthand -- Michelle and I, we did not finish paying off our student loans until about nine years ago.  And our student loans cost more than our mortgage.  Right when we wanted to start saving for Sasha and Malia’s college education, we were still paying off our own college education.
 
And we were lucky.  We had more resources than many.  So we cannot price the middle class or folks who are willing to work hard to get into the middle class out of a college education.  We can’t keep saddling young people with more and more and more debt just as they’re starting out in life. 
 
Now, the good news is over the past four years, my administration has done a lot to address this.  Working with members of Congress, we’ve expanded student aid.  We’ve reformed the student loan system.  We’ve saved tens of billions of taxpayer dollars that were just going to big banks, and made sure that the money went to helping more young people afford college. 
 
We made it easier to pay back those loans by passing a law that says you’ll only have to pay 10 percent of your monthly income towards your student -- federal student loans once you graduate.  This is important to emphasize, by the way, because a lot of your peers, a lot of young people don’t know this.  Under existing law that we passed, you never have to pay more than 10 percent of your income in paying back your federal student loans, which means if you want to be a teacher, you want to go into a profession that does not pay a lot of money but gives you a lot of satisfaction, you are still capable of doing that and supporting yourself.
 
We unveiled a new college scorecard that gives parents and students the clear, concise information that you need to shop around for a school with the best value for you.  And I’ve made it clear that those colleges that don’t do enough to keep college costs down should get less taxpayer support.
 
So we’re doing what we can, but here’s the thing:  If Congress doesn’t act by July 1st, federal student loan rates are set to double.  And that means that the average student with those loans will rack up an additional $1,000 in debt.  That’s like a $1,000 tax hike.  I assume most of you cannot afford that.  Anybody here can afford that?  No.
 
Now, if this sounds like déjà vu all over again, that’s because it is.  We went through this last summer.  Some of you were here.  It wasn't as hot.  (Laughter.)  I don't think we did this event outside.  (Laughter.)  But we went through this.  And eventually, Congress listened to all the parents and young people who said “don’t double my rate.”  And because folks made their voices heard, Congress acted to keep interest rates low.  But they only did it for a year and that year is almost up.
 
So the test here is simple.  We’ve got to make sure that federal student loan rates don’t double on July 1st.  Now, the House of Representatives has already passed a student loan bill, and I’m glad that they took action.  But unfortunately, their bill does not meet that test.  It fails to lock in low rates for students next year.  That’s not smart.  It eliminates safeguards for lower-income families.  That’s not fair.  It could actually cost a freshman starting school this fall more over the next four years than if we did nothing at all and let the interest rates double on July 1st. 
 
So the House bill isn't smart and it's not fair.  I'm glad the House is paying attention to it, but they didn't do it in the right way.  So I’m asking young people to get involved and make your voices heard once again.  Last year, you convinced 186 Republicans in the House and 24 Republicans in the Senate to work with Democrats to keep student loan rates low.  You made something bipartisan happen in this town that is -- that's a powerful thing.  You guys were able to get Democrats and Republicans to vote for something that was important. 
 
So this year, if it looks like your representatives have changed their minds, you're going to have to call them up again or email them again or Tweet them again and ask them what happened, what changed?  You're still taking out these loans.  You're still facing challenges.  
 
Remind them that we're a people who help one another earn an education, because it benefits all of us.  During the Civil War, Lincoln had the foresight to set up a system of land grant colleges.  At the end of World War II, we set up the GI Bill so that people like my grandfather could come back from a war and get an education.  All these things created the greatest middle class on Earth.
 
My mom, a single mom, was able to get the support that she needed through loans and grants -- even while she was also working and raising two kids -- to get her degrees.  I'm only here, Michelle is only right over there in the East Wing because we got great educations.  We didn't come from privilege.  And we want to make sure that the next generation has those same opportunities, because that has been good for the country as a whole. 
 
It’s up to us now to carry forward that tradition.  Higher education cannot be a luxury for a privileged few.  It is an economic necessity that every family should be able to afford, every young person with dreams and ambition should be able to access.  And now is not the time for us to turn back on young people.  Now is not the time to slash the investments that help us grow.  Now is the time to reaffirm our commitment to you and the generation that's coming behind you, and that if we work together to generate more jobs and educate more kids and open up new opportunities for everybody who’s willing to work and willing to push through those doors of opportunity, America can't be stopped.
 
So I'm putting my faith in you.  Let's work together.  Let's get this done by July 1st.  Thank you, everybody.  God bless you.  God bless America.  Thank you.  (Applause.) 
 
END
10:36 A.M. EDT

Close Transcript

The White House

Office of the Press Secretary

Remarks by the President on College Affordability

Rose Garden

10:26 A.M. EDT
 
THE PRESIDENT:  Good morning, everybody.  Have a seat.  Have a seat.  Welcome to the White House.  I know it’s a little warm.  (Laughter.) 
 
One of my favorite things about this job is that I get to spend some time with remarkable young people from all across the country.  It inspires me.  It makes me feel good.  Those of you who have had to put on suits and ties and show up at the White House first thing on a Friday morning may not feel the same way I do -- (laughter) -- but I appreciate all of you being here.  You cleaned up very well. 
 
And these students and graduates are here to talk about something that matters to millions of young people and their families, and that’s the cost of a college education.  Because this isn’t just critical for their futures, but it’s also critical for America’s future.
 
Over the past four and a half years, we’ve been fighting our way back from a financial crisis and an incredibly punishing recession -- the worst since the Great Depression -- and it cost millions of Americans their jobs and their homes, the sense of security that they’d spent their lives building up. 
 
The good news is, today, our businesses have created nearly 7 million new jobs over the past 38 months.  500,000 of those jobs are in manufacturing.  We’re producing more of our own energy, we’re consuming less energy, and we’re importing less from other countries.  The housing market is coming back.  The stock market has rebounded.  Our deficits are shrinking at the fastest pace in 50 years.  People’s retirement savings are growing again.  The rise of health care costs are slowing.  The American auto industry is back.
 
So we’re seeing progress, and the economy is starting to pick up steam.  The gears are starting to turn again, and we’re getting some traction.  But the thing is, the way we measure our progress as a country is not just where the stock market is; it’s not just to how well the folks at the top are doing; it’s not just about the aggregate economic numbers.  It’s about how much progress ordinary families are making.  Are we creating ladders of opportunity for everybody who’s willing to work hard?  Are we creating not only a growing economy, but also the engine that is critical to long-lasting, sustained economic growth -- and that is a rising, thriving middle class.  That’s our focus.  That’s what we’ve got to be concerned about every single day.  That’s our North Star.
 
And that means there are three questions we have to ask ourselves as a nation.  Number one:  How do we make America a magnet for good jobs in this competitive 21st century economy?  Number two:  How do we make sure that our workers earn the skills and education they need to do those jobs?  And number three:  How do we make sure those jobs actually pay a decent wage or salary, so that people can save for retirement, send their kids to college?
 
Those are the questions we’ve got to be asking ourselves every single day.  So we’re here today to talk about that second question.  How do we make sure our workers earn the skills and education they need to do the jobs that companies are hiring for right now, and are going to keep hiring for in the future?  We know that the surest path to the middle class is some form of higher education -- a four-year degree, a community college degree, an advanced degree.  You’re going to need more than just a high school education to succeed in this economy. 
 
And the young people here today, they get that.  They’re working through college; maybe just graduated.  And earning their degree isn’t just the best investment that they can make for their future -- it’s the best investment that they can make in America’s future. 
 
But like a lot of young people all across the country, these students have had to take on more and more and more debt to pay for this investment.  Since most of today’s college students were born, tuition and fees at public universities have more than doubled.  And these days, the average student who takes out loans to pay for four years of college graduates owing more than $26,000.  How many people are on track here for $26,000? 
 
And that doesn’t just hold back our young graduates.  It holds back our entire middle class, because Americans now owe more on our student loans than we do on our credit cards.  And those payments can last for years, even decades, which means that young people are putting off buying their first car, or their first house -- the things that grow our economy and create new jobs.  And I’ve said this before, I know this firsthand -- Michelle and I, we did not finish paying off our student loans until about nine years ago.  And our student loans cost more than our mortgage.  Right when we wanted to start saving for Sasha and Malia’s college education, we were still paying off our own college education.
 
And we were lucky.  We had more resources than many.  So we cannot price the middle class or folks who are willing to work hard to get into the middle class out of a college education.  We can’t keep saddling young people with more and more and more debt just as they’re starting out in life. 
 
Now, the good news is over the past four years, my administration has done a lot to address this.  Working with members of Congress, we’ve expanded student aid.  We’ve reformed the student loan system.  We’ve saved tens of billions of taxpayer dollars that were just going to big banks, and made sure that the money went to helping more young people afford college. 
 
We made it easier to pay back those loans by passing a law that says you’ll only have to pay 10 percent of your monthly income towards your student -- federal student loans once you graduate.  This is important to emphasize, by the way, because a lot of your peers, a lot of young people don’t know this.  Under existing law that we passed, you never have to pay more than 10 percent of your income in paying back your federal student loans, which means if you want to be a teacher, you want to go into a profession that does not pay a lot of money but gives you a lot of satisfaction, you are still capable of doing that and supporting yourself.
 
We unveiled a new college scorecard that gives parents and students the clear, concise information that you need to shop around for a school with the best value for you.  And I’ve made it clear that those colleges that don’t do enough to keep college costs down should get less taxpayer support.
 
So we’re doing what we can, but here’s the thing:  If Congress doesn’t act by July 1st, federal student loan rates are set to double.  And that means that the average student with those loans will rack up an additional $1,000 in debt.  That’s like a $1,000 tax hike.  I assume most of you cannot afford that.  Anybody here can afford that?  No.
 
Now, if this sounds like déjà vu all over again, that’s because it is.  We went through this last summer.  Some of you were here.  It wasn't as hot.  (Laughter.)  I don't think we did this event outside.  (Laughter.)  But we went through this.  And eventually, Congress listened to all the parents and young people who said “don’t double my rate.”  And because folks made their voices heard, Congress acted to keep interest rates low.  But they only did it for a year and that year is almost up.
 
So the test here is simple.  We’ve got to make sure that federal student loan rates don’t double on July 1st.  Now, the House of Representatives has already passed a student loan bill, and I’m glad that they took action.  But unfortunately, their bill does not meet that test.  It fails to lock in low rates for students next year.  That’s not smart.  It eliminates safeguards for lower-income families.  That’s not fair.  It could actually cost a freshman starting school this fall more over the next four years than if we did nothing at all and let the interest rates double on July 1st. 
 
So the House bill isn't smart and it's not fair.  I'm glad the House is paying attention to it, but they didn't do it in the right way.  So I’m asking young people to get involved and make your voices heard once again.  Last year, you convinced 186 Republicans in the House and 24 Republicans in the Senate to work with Democrats to keep student loan rates low.  You made something bipartisan happen in this town that is -- that's a powerful thing.  You guys were able to get Democrats and Republicans to vote for something that was important. 
 
So this year, if it looks like your representatives have changed their minds, you're going to have to call them up again or email them again or Tweet them again and ask them what happened, what changed?  You're still taking out these loans.  You're still facing challenges.  
 
Remind them that we're a people who help one another earn an education, because it benefits all of us.  During the Civil War, Lincoln had the foresight to set up a system of land grant colleges.  At the end of World War II, we set up the GI Bill so that people like my grandfather could come back from a war and get an education.  All these things created the greatest middle class on Earth.
 
My mom, a single mom, was able to get the support that she needed through loans and grants -- even while she was also working and raising two kids -- to get her degrees.  I'm only here, Michelle is only right over there in the East Wing because we got great educations.  We didn't come from privilege.  And we want to make sure that the next generation has those same opportunities, because that has been good for the country as a whole. 
 
It’s up to us now to carry forward that tradition.  Higher education cannot be a luxury for a privileged few.  It is an economic necessity that every family should be able to afford, every young person with dreams and ambition should be able to access.  And now is not the time for us to turn back on young people.  Now is not the time to slash the investments that help us grow.  Now is the time to reaffirm our commitment to you and the generation that's coming behind you, and that if we work together to generate more jobs and educate more kids and open up new opportunities for everybody who’s willing to work and willing to push through those doors of opportunity, America can't be stopped.
 
So I'm putting my faith in you.  Let's work together.  Let's get this done by July 1st.  Thank you, everybody.  God bless you.  God bless America.  Thank you.  (Applause.) 
 
END
10:36 A.M. EDT

The White House

Office of the Press Secretary

FACT SHEET: President Obama Fights to Keep Interest Rates from Doubling

“Helping more of our young people afford college should be at the forefront of American’s agenda.  It shouldn’t be a Democratic or a Republican issue.”

--President Barack Obama, University of Colorado-Boulder, April 24, 2012.

Last year the President worked with Republicans and Democrats in Congress to secure a one-year extension to keep the student loan interest rate from doubling to 6.8 percent.  Absent Congressional action, interest rates on new subsidized student loans will double once again on July 1 of this year.  To keep rates from doubling, the President’s FY 2014 Budget proposed that Congress enact a long-term solution that cuts rates this year on nearly all new loans, ensures that all students have access to affordable repayment options, and does not charge students higher interest rate to pay for deficit reduction.   

The comprehensive solution put forward by the President allows borrowers to benefit from the low interest rates currently available in the marketplace, and guarantees these rates over the life of their loans.  In the future, fixed rates would be determined each year, and the plan would ensure that borrower’s rates are in line with the government’s own cost of borrowing.  Additionally, the President’s plan guarantees that student loans remain affordable by allowing all students – past, present, and future – to cap their payments at 10 percent of income. 

If Congress fails to act, college will be further out of reach for millions of students and families.  In fact, an incoming freshman who borrows $27,000 over the next four years -- a typical debt incurred by today’s college graduates – is projected to pay over $4,000 dollars more over the life of their loans without the President’s proposal.  As the economy continues to recover, and at a time when market interest rates are at historic lows, more than 7 million students who will rely on these loans to finance postsecondary education should not be burdened with additional college debt when they graduate and launch a career or a business, start a family, or buy a house. 

Since the President released his budget, several proposals have been put forward in the House and Senate that address the interest rate issue in both the near-term and long-term.  What is most important is that Congress agrees upon a solution that prevents rates from doubling on July 1, and a number of proposals meet that test.  The Administration has continued to focus on working with Republican and Democrats in Congress on a fix that meets that test and does not charge students higher rates to fund deficit reduction. 

While the Administration welcomed action by the House on interest rates, it unfortunately moves us in the wrong direction.  Under the recently passed House legislation, H.R. 1911, many borrowers could end up paying even more than if Congress does nothing at all.  The same college freshman who could save over $4,000 dollars under the President’s plan would pay over $200 more under the House Republican plan.  The House bill also uses higher student rates to reduce the deficit by $4 billion, raises rates the most on low-income students, creates greater uncertainty for borrowers about the total cost of their loans, and fails to include additional help for students struggling to repay their loans.  

Students and their families need certainty about college costs, not fluctuating rates, as they make critical decisions about borrowing for college.  In addition to the Administration’s work on student loan interest rates, we have worked hard to provide greater transparency about college costs through efforts like the College Scorecard, so students and families can have better information and more certainty as they plan for college.

 

Change in Interest Paid on Subsidized Stafford Loans
For a Typical Student Borrowing the Average Amount, by State

State

2013-14 Total Subsidized Stafford Loan Amount

Borrower Count

Average Borrowed

Average Savings Under the President’s PlanM

Alaska

$42,696,982

11,624

$3,673

$1,030

Alabama

$466,706,263

125,094

$3,731

$1,046

Arkansas

$246,644,654

68,243

$3,614

$1,013

Arizona

$1,650,867,640

450,977

$3,661

$1,026

California

$2,206,897,300

550,928

$4,006

$1,123

Colorado

$572,439,923

154,128

$3,714

$1,041

Connecticut

$277,885,356

73,051

$3,804

$1,066

District of Columbia

$198,987,697

50,415

$3,947

$1,106

Delaware

$67,549,662

18,452

$3,661

$1,026

Foreign Campus

$17,220,006

4,009

$4,295

$1,204

Florida

$1,756,446,930

462,048

$3,801

$1,065

Georgia

$817,315,434

228,887

$3,571

$1,001

Guam

$5,154,086

1,328

$3,882

$1,088

Hawaii

$64,351,058

17,325

$3,714

$1,041

Iowa

$817,513,738

222,553

$3,673

$1,030

Idaho

$176,757,135

46,593

$3,794

$1,063

Illinois

$1,362,168,291

337,440

$4,037

$1,132

Indiana

$1,025,417,698

271,089

$3,783

$1,060

Kansas

$283,086,712

78,074

$3,626

$1,016

Kentucky

$440,183,775

123,382

$3,568

$1,000

Louisiana

$304,064,050

84,860

$3,583

$1,004

Massachusetts

$627,935,759

158,718

$3,956

$1,109

Maryland

$387,512,749

105,027

$3,690

$1,034

Maine

$125,208,491

33,883

$3,695

$1,036

Michigan

$1,058,623,425

284,937

$3,715

$1,041

Minnesota

$718,944,505

194,211

$3,702

$1,038

Missouri

$585,481,902

157,023

$3,729

$1,045

Mississippi

$237,496,084

66,392

$3,577

$1,003

Montana

$88,120,071

24,017

$3,669

$1,028

North Carolina

$666,048,885

176,362

$3,777

$1,059

North Dakota

$73,249,983

20,041

$3,655

$1,024

Nebraska

$169,580,270

47,290

$3,586

$1,005

New Hampshire

$145,808,024

38,923

$3,746

$1,050

New Jersey

$546,133,386

144,926

$3,768

$1,056

New Mexico

$142,216,470

40,703

$3,494

$979

Nevada

$101,994,342

27,155

$3,756

$1,053

New York

$1,556,774,109

409,287

$3,804

$1,066

Ohio

$1,307,496,119

361,857

$3,613

$1,013

Oklahoma

$303,979,477

84,373

$3,603

$1,010

Oregon

$446,861,681

121,570

$3,676

$1,030

Pennsylvania

$1,452,626,575

374,328

$3,881

$1,088

Puerto Rico

$152,952,989

47,894

$3,194

$895

Rhode Island

$158,562,059

42,154

$3,761

$1,054

South Carolina

$404,736,755

111,601

$3,627

$1,017

South Dakota

$124,536,806

34,748

$3,584

$1,005

Tennessee

$497,162,080

131,788

$3,772

$1,057

Texas

$1,687,827,256

464,119

$3,637

$1,019

Utah

$363,278,323

96,768

$3,754

$1,052

Virginia

$688,860,396

179,038

$3,848

$1,079

Virgin Islands

$2,713,847

735

$3,694

$1,035

Vermont

$71,101,710

18,156

$3,916

$1,098

Washington

$391,091,512

104,863

$3,730

$1,045

Wisconsin

$591,341,448

159,147

$3,716

$1,042

West Virginia

$224,318,539

67,088

$3,344

$937

Wyoming

$29,106,360

8,258

$3,525

$988

Total (Unduplicated Count)

$28,930,036,778

7,200,000

$4,018

$1,126

Source: U.S. Department of Education analysis.  Assumes a student who borrows the state average amount of subsidized loans in the 2013-14 academic year and repays the loans over the expected period of 12 years.

The President’s Plan to Keep Student Loans Affordable

Lower Interest Rates Now: Under the President’s plan, nearly 11 million borrowers will see their interest rates decrease on new loans after July 1, 2013, compared to current law. Over 7 million Subsidized Stafford loan borrowers will see their rates on new loans drop below the current reduced rate of 3.4 percent to a projected 2.9 percent.  Over 8.5 million Unsubsidized Stafford borrowers will see their rates drop on new loans from 6.8 percent to 4.9 percent.  And over 1 million GradPLUS and Parent PLUS borrowers will see their rates on new loans drop from 7.9 percent to 5.9 percent—the first reduction in such rates since rates increased in 2006. 

More Affordable Repayment Options: Additionally, the President is proposing extending his Pay As You Earn (PAYE) loan repayment plan to all student borrowers to provide an insurance policy against unmanageable federal student loan debt. Previously, the plan was available only to new borrowers.  Under the President’s expanded PAYE plan, all student borrowers are assured that their federal student loan payments will never exceed 10 percent of their discretionary income. 

A Fiscally Responsible Solution:  The President’s plan is cost-neutral and will keep the federal student loan programs on secure footing for the future.  It also ensures we have the necessary resources available to keep investing in other critical higher education programs such as the Pell grant program and the Perkins loan program, as well as to make targeted investments in postsecondary education that facilitate college completion, assure continued state support, pave the way for high-quality, cost-effective educational opportunities.  These efforts combined will keep college affordable for students and families.

West Wing Week: 05/31/13 or "Greetings from Asbury Park"

This week, the President spoke to the graduates of the U.S. Naval Academy, traveled to Oklahoma and New Jersey to highlight recovery efforts, and honored Memorial Day with the First Lady at Arlington National Cemetery. 

The White House

Office of the Press Secretary

Press Gaggle by Principal Deputy Press Secretary Josh Earnest, 5/30/2013

Aboard Air Force One
En Route Washington, D.C.

12:12 P.M. CDT

MR. EARNEST:  Good afternoon, everybody.  One scheduling update and one policy update before I get to your questions.  Let’s do the policy first. 

Today, the Department of Treasury announced a two-year extension of the HAMP program, which has already reduced mortgage costs for more than 1.1 million responsible homeowners.  The median savings enjoyed by those homeowners through that program is $546 a month on their mortgage payment.  The program has also served as a template for private sector progress that has helped millions of other responsible homeowners save on their mortgage costs.

The extension of this program, however, is not a substitute for congressional action on a universal refinancing proposal that would allow millions of responsible homeowners to refinance at the current rates, which are near all-time lows.  This would give an additional shot in the arm to our steadily recovering housing market, and put more money in the pockets of middle-class families, and it would improve the economy.  This is something that the President has been pushing for some time, and hopefully we’ll get some Republicans to work with the President to get this done sooner rather than later.

Now with the scheduling announcement.  Upon the President’s return to the White House, he’ll receive his annual hurricane briefing in the Situation Room ahead of the 2013 hurricane season, which begins on Saturday.  The briefing will include an update on the 2013 hurricane outlook from NOAA, as well as an update on the ongoing current preparedness activities in coordination with state and local partners ahead of the 2013 season.

The briefing will also include a specific discussion of energy and fuel challenges following a major hurricane, informed by specific challenges and solutions employed in the response to Hurricane Sandy.  The President will be joined by members of his emergency response team, including members of his Cabinet, as well as representatives from the private sector.  And we’ll have a more detailed readout of the meeting after it concludes.

So with that, I’ll take a couple of questions.

Q    Josh, today the new Quinnipiac polls have come out that have shown the President’s approval rating at a low -- 45 percent.  Do you think that these three sort of looming controversies -- IRS, Benghazi and DOJ -- are now starting to affect the President’s standing?

MR. EARNEST:  I haven’t seen the poll that you’re talking about.  The truth is we’re not looking at the day-to-day polls.  What the President is focused on is the agenda that he’s laid out -- putting the expansion of economic opportunity for middle-class families first.  That is the President’s overwhelming priority.  That is the reason that the President ran for reelection, and I would submit to you that that’s the reason the President was reelected.  And that’s what the President is focused on. 

You just heard me talk about the HAMP program extension -- that is a key part of offering some assistance to middle-class families, and we’re going to keep working at it.  And whether it’s -- you heard the President talk a little bit last night about expanding early childhood education opportunities, high-quality early childhood education opportunities for children all across America. 

These are the key parts of the President’s agenda and that’s what he’s focused on, and there will be plenty of people who can dissect the polls and try to analyze them in one way or another, but what we’re focused on right now is the President’s domestic policy agenda.

Q    Josh, was the President informed of the latest ricin letter?

MR. EARNEST:  I’ve seen those reports about this.  I know that the Secret Service has talked about this a little bit.  I don’t have any specific details for you other than to point out to you that the White House does have an offsite facility that processes the mail that we receive, so we have precautions that are in place for these kinds of things.  I do believe the President is aware, but I don’t know any details about who briefed him or any other details.

Q    And as I understand it, they are only testing now for ricin; they haven’t confirmed it yet.  Is that right?

MR. EARNEST:  I don’t know.  Check with the Secret Service.  They obviously have the lead on these kinds of stories.

Q    Josh, can you confirm that the President has settled on Comey for his FBI Director?  And can you discuss any timeline for making that nomination official?

MR. EARNEST:  There obviously has been a lot of reporting on this over the last 12 to 18 hours.  I don’t have any personnel announcements to make at this time, and I’m really not in a position to even give you a better sense of the timing.  So we’ll have to save that for a later day.

Q    Does it look like it will be at least a few days yet, or several days?

MR. EARNEST:  I really just don’t have any updates on the timing.

Q    Josh, what does the White House think of various media organizations’ decision not to take the off-the-record meeting with Attorney General Holder?

MR. EARNEST:  The President has already articulated his concerns about this policy.  There obviously is a complex policy challenge here between balancing the interests of the American people and protecting government secrets that are directly relevant to national security, but we also need to place a priority on protecting the First Amendment rights of journalists who have a critical role to play in terms of holding our government accountable.  The success of our democracy, frankly, relies on a free, independent, professional media.  And we need to ensure that the rights of those journalists are protected.

Now, at the same time -- well, I guess I should say this -- to that end, the President has said that a journalist shouldn’t be subject to criminal prosecution just for doing their job.  So that’s the source of the President's concern.  I know that -- so the President has asked the Attorney General to conduct a review because of these serious concerns.  The Attorney General has begun the process of reaching out to media organizations and others who will have some input on this review.

By all accounts, the Attorney General is taking this seriously, and has invited members of prominent media organizations -- leaders of prominent media organizations to participate in that review.  It's not uncommon for the Department of Justice, and, frankly, other administration agencies, to consult with stakeholders as we're making -- as we're conducting policy reviews and making policy decisions. 

So the invitation to those media executives was extended by the Department of Justice, and it's our hope that those -- that that invitation will be accepted.

Q    But why -- was the White House involved in the decision to insist that that meeting be off the record?

MR. EARNEST:  In terms of the details and the ground rules for the meeting, I'd refer you to the Department of Justice.  They're the ones who are conducting the review.  But we are hopeful that media organizations will take advantage of the opportunity to constructively contribute to this process. 

We've heard a lot from media organizations and media executives and journalists about how important these constitutional rights are and how important it is for the U.S. government to get the balance of these two interests -- these national security interests and these First Amendment interests -- right. 

So because of that persuasive --

Q    But don’t you think that --

MR. EARNEST:  Let me finish -- but because of that persuasive advocacy, the Attorney General has invited media organizations to participate, and we're hopeful that they will accept that invitation to participate. 

Q    You can understand that a meeting about concerns journalists have about the First Amendment being off the record is sort of on its face hypocritical, don’t you?

MR. EARNEST:  No, I don’t actually see that. 

Q    Why?

MR. EARNEST:  What I think is the -- the Attorney General is interested in having a constructive -- a policy discussion with professional journalists about this, what I think most people would acknowledge is a complex policy issue.  I think most people would understand that there are two competing interests that need to be balanced here, in terms of protecting national security secrets but also protecting the First Amendment rights of journalists.  And there's no reason that the Attorney General shouldn’t be able to engage in a constructive discussion with journalists about this.

Q    If the New York Times, Associated Press and other big organizations that have said they will not attend if it's off the record don’t attend, is it a constructive dialogue?  Or do you need the biggest media organizations, the most influential, at the meeting? 

MR. EARNEST:  Well, you should have included the Washington Post as an influential news organization.  (Laughter.) 

Q    Well, we might be there.  We are, but I think -- we have a different policy from what I understand.

MR. EARNEST:  Look, I'll let the Attorney General and the Department of Justice give you some guidance in terms of how they're going to conduct this process.  But I don’t think there's any doubting the seriousness with which the Attorney General is pursuing what he has identified and what the President has identified as a genuine priority.  And we are genuinely interested in the input, the opinion, the advice, the expertise of leaders of prominent media organizations.  And we are hopeful and optimistic that we are going to find a way to get their input in this process.

Q    Is the President at all concerned that Holder is just under so much scrutiny at this point that it might affect his ability to get his job done?

MR. EARNEST:  Not in the least. 

Q    Josh, following up on the drone issue from yesterday -- are you in a position today to confirm the drone strike on Wali-ur-Rehman?  And yesterday, Jay suggested that hypothetically if it had -- if he had been eliminated, it would be a good thing, but the Pakistani Taliban is now saying that because of this strike that killed their number two, they're going to pull out of peace talks.  So does that change the calculus about whether it was a good idea?

MR. EARNEST:  Well, what Jay -- I'm not in a position to confirm any operational details like that, so -- I'm not in a position to do that at this point.  What Jay did mention in the briefing yesterday were some relevant facts about the actions of this individual in particular, and the harm and threat that he posed to American troops serving in the Afghan theater. 

In terms of the Pakistan Taliban's response to this circumstance, I'd actually refer you to the Pakistani government.  The peace talks that they have publicly raised concerns about are actually peace talks they're engaged in with the Pakistani government, so for a reaction to that I'd refer you to Pakistan. 

Q    Does the White House feel that it's still constructive to eliminate some of these top Taliban people if it leads to a breakdown in reconciliation efforts?

MR. EARNEST:  Well, I don't want to get ahead of any details that I'm not in a position to confirm, but I will say, as a general matter, something similar to what the President said last week, which is the President does feel a responsibility to ensure that our troops that are in harm's way in the Afghan war theater are protected.  And we're going to use a range of abilities and equipment to ensure -- to provide them as much protection as possible in the Afghan war theater.  So I'll just leave it there.

Q    Josh, a Chinese company is buying Smithfield Foods, the world's largest pork producer.  What does the President think of that?

MR. EARNEST:  I've seen those reports.  As you know is our custom, Roger, we don't comment on individual transactions.  So I'm not in a position to offer a specific reaction from the President or the White House on the announcement of that transaction.  I will say, as a general matter, one of the things the President has talked about is we are supportive of efforts by foreign entities to invest in the U.S.; that this kind of direct foreign investment in general is a pretty strong endorsement of some of the economic infrastructure we have in this country in terms of facilities, technology, American workers.  And through additional foreign direct investment we can expand economic opportunity in this country.

So as a general matter, we're in favor of efforts by foreign entities, foreign companies to invest in the U.S.  But in terms of this specific transaction, I'm not able to comment.

Q    Would he bring this up during the talks next week with the Chinese President at all? 

MR. EARNEST:  I don't have a sense of that.  

Q    Is there any reason that he would?

MR. EARNEST:  I don't know if he'll bring it up, to be honest with you.  If we get into a -- as we get closer to the meeting, we may be able to give you a better preview of what are the items on the agenda at that point.

Q    Josh, there are reports today of Assad saying that he has received Russian rockets.  What's the White House response to that? 

MR. EARNEST:  I've seen those reports as well.  I'm not in a position to comment on -- I'm not in a position to confirm reports of a transfer of weapons.  We have long made clear that we are concerned about the Russian support for the Assad regime, both in the form of providing them weapons but also through access to Russian banks.  That concern is well known.  Secretary Kerry, principally, but others are engaged in an effort to work constructively with the Russians to try to bring about a transition, a political transition in Syria.

So we certainly are counting on the Russians to exercise their influence over the Assad regime to ensure that negotiators who represent the Assad regime in negotiations with the opposition are empowered to facilitate the full transfer of executive authority to a transitional government.  So there is a very important role for Russia to play here, and we're working with them in the hopes that they will play that role and can help facilitate this transfer that's so desperately needed. 

We are seeing a terrible humanitarian situation on the ground in Syria.  The violence is continuing unabated.  That's something that is horrific.  And it is having a destabilizing impact on the broader region.

So there's a lot at stake here.  And we are working with the Russians to get them to step up to the plate and constructively act to resolve this situation.

Q    Josh, in addition to Assad's regime claiming it's received the missiles, the leading opposition group is saying now that they're not going to participate in these talks as long as the regime is still attacking them.  If you combine those two things, I mean, does it seem like the political reconciliation that the U.S. government is advocating is -- hopes for that are starting to dim? 

MR. EARNEST:  Well, I wouldn’t -- that's not necessarily our assessment.  This is an intractable problem that we're dealing with and there are clearly a lot of challenges that have to be defused to try to bring both sides to the table, but that is the only way we're going to get the kind of solution that would allow a government in Syria to take root that actually reflects the will of the Syrian people.  That is the ultimate goal.

And so we are working with our allies and partners in the region to try to bring this -- the opposition coalition together, to sit at a table across from representatives of the Assad regime.  As I mentioned, we're counting on the Russians to exercise their influence and make sure that the negotiators on behalf of the Assad regime are empowered to negotiate with a full transfer of executive authority to a transitional government. 

So this is an ongoing process and it's something that we are fully committed to, because this is the path to addressing this problem.  And it is a difficult and challenging one, but it's one that has -- there are high stakes in the outcome, and that's why we’re working on this so aggressively.  And that work is continuing.

Q    Josh, you've said that the President will be meeting with Senator McCain to discuss his recent trip Syria.  Do you have any updates on when that may happen?

MR. EARNEST:  I don't have any updates on that.

Q    On the IRS -- there’s a Quinnipiac poll out today saying that 76 percent of Americans would like to see a special prosecutor appointed to look into that, and I’m wondering if the President or the White House is looking at that option at all.

MR. EARNEST:  We're not.  And the reason for that simply is that there is a new IRS commissioner in place, Danny Werfel, who is a career civil servant, who represented -- who served in administrations led by Republican Presidents and Democratic Presidents.  He’s conducting a 30-day review -- that was a review that was ordered by the Secretary of the Treasury at the direction of the President.  That is an ongoing review that is taking place.

Our administration has already signaled our willingness to cooperate with congressional oversight in this matter.  I know that there are a couple of administration officials that have already testified on this, and there are -- our cooperation in this endeavor is ongoing.  And I also understand, separately from all that, that the Department of Justice has announced a criminal investigation into this matter. 

So there are a lot of people looking at this from a lot of different perspectives.  And we’re confident that those who need to be held accountable for the wrongdoing that occurred there will be held accountable.  And the President is committed to making sure that those steps are taken to make sure this doesn't happen again.

Q    So there's not any interest in an outside, independent -- completely independent person to look at it? 

MR. EARNEST:  Well, I would actually make the case to you that there are -- we do have somebody who is coming from the outside, who is a career civil servant who has served in both Democratic and Republican administrations, coming into the IRS to take a look at this.  We’ve got outside members of Congress -- Democrats and Republicans -- who are taking a look at this.  And we have, based on news reports, professional investigators, the Department of Justice, who are investigating this. 

So I would actually make the case to you that we have a wide variety of outside, impartial, independent observers -- all of whom share the goal of getting to the bottom of what happened and making sure it didn't happen -- it doesn't happen again.  And we’ll cooperate with those efforts as necessary.

Q    Josh, just for the record, did the President meet with anybody while he was at his private residence?  Any friends come over?  Did he spend the entire time he was there alone?

MR. EARNEST:  I don't have an update for you in terms of the President’s activities this morning at home. 

Q    Josh, the Republican Party has said it's going to FOIA any emails between the State Department and the President’s reelection campaign relating to Benghazi.  Are you confident that no emails of that nature will be turned up?

MR. EARNEST:  I actually haven’t seen -- I haven’t seen that FOIA.  Based on what you’ve described though, I would say that it is yet another piece of evidence that you could stack on a rather mounting pile of data to indicate that this is a politically motivated enterprise.  But in terms of the specifics, I don't have any knowledge.

Q    One more, a little out of the box, since you went with it.  A group of 10 Republicans are asking for the Redskins to change their name as to be less offensive to Native Americans.  Does the President have any feeling on this?

MR. EARNEST:  That's a good question, and it is outside the box.  I’ll give you credit for that.  I haven’t had a chance to speak with him about it, so I don't know if he has an opinion.  (Laughter.)

Q    Go Ravens.  (Laughter.)   

Q    He supports the Blackhawks.

MR. EARNEST:  Anybody else?

Q    Can I ask about GMO wheat?  Yesterday, it was announced that GMO wheat that hasn’t been approved was found -- genetically modified wheat was found growing in Oregon.  How concerned is the White House about this?

MR. EARNEST:  Well, there are a couple of things that I can tell you about this.  The first is I know that the FDA has indicated that there is actually no food safety threat that's posed by this.  There is, however, an ongoing investigation that's been launched by the Department of Agriculture to figure out what’s going on with this situation, so I don't want to get ahead of that investigation.  We certainly have been in touch with our trading partners on this issue, but there’s no indication at all at this point based on the FDA’s review that there’s any threat to food safety.

Q    And how concerned are you that buyers are going to stop buying U.S. wheat because of this, because of uncertainty about this?

MR. EARNEST:  I actually don't have much insight into that. I’d check with the Department of Agriculture to see if they would be able to offer you an assessment on that.

We good? 

Q    Yes.

MR. EARNEST:  All right guys.

END
12:33 P.M. CDT

The White House

Office of the Press Secretary

Remarks by the President at a DCCC Event

Private Residence
Chicago, Illinois

7:37 P.M. CDT

THE PRESIDENT:   Thank you, everybody.  Thank you.  (Applause.)  No, no, no, don't do that.  This is like old home week.  Yes.  We got -- that's because he's got a relative here.  (Laughter.)  A good excuse to --

AUDIENCE MEMBER:  (Inaudible.)

THE PRESIDENT:  Oh, no.  Secret Service, can you have this man removed, please?  (Laughter.)  Oh, no.  (Laughter.)  We don't know yet.  If anybody is monitoring the score, please let us know and I'll make the announcement.

Well, look, everybody here has been introduced, but I want to say something about everybody.  First of all, the Whip, Steny Hoyer, does a great job every single day and there's nobody in the House of Representatives who understands the mechanics of getting things done and is able to deliver on behalf of the values that we care about than an outstanding Congressman from Maryland, Steny Hoyer.  (Applause.) 

Steve Israel has the thankless job of traveling around the country every day on behalf of Democrats, trying to get a Democratic House back.  And he does it with good humor and grace and has been outstanding.  And we're so grateful for him.  It also happens to be the day before his birthday, so everybody wish Steve a happy birthday.  (Applause.)
 
I was going to say nice things about Sandy Levin, but we'll skip over that.  (Laughter.)  Actually, Sandy is wonderful and nobody fights for working people harder than Sandy Levin.  And we're just grateful him, for everything that he does.  (Applause.) 

Jan Jankowski has been a progressive champion in this state for so many years and was one of my earliest supporters when I ran for the United States Senate.  And I could not have ever achieved what I did nationally without the support of Jan Jankowski.  So we're grateful for her.  (Applause.)
 
Nancy Pelosi -- it is absolutely true that the things I'm proud of having accomplished as President I accomplished with Nancy Pelosi fighting every step of the way.  You could not have a better partner than her.  She is tough as nails.  She is a great politician.  She is a great leader.  But all that is in
service of a mission, which is to make sure that the American people can achieve their dreams through hard work and responsibility.

And I was mentioning this to the other -- we had a little event -- larger event downtown.  But I said to them that we're all politicians, we're all members of parties.  But one of the things that I'm proud of as a Democrat is the fact that at certain critical junctures we're willing to put what is politically expedient aside to do what's right.  And I've seen Nancy do that, consistently.  I've seen her be willing not just to stare down the other side and say, no, this is what's important for the American people; I've seen her, to her own constituencies and her own base, say, you know what, this is something that we need to do, to compromise and get something done. 

And I've got to tell you I could not be prouder of Nancy Pelosi and the work that she's done and I could not be more anxious and eager to have her back as Speaker of the House.  She is a great friend.  (Applause.) 

So finally, before I just make some very brief remarks and then I want to spend some time with questions, I've got to talk about Bettylu and Paul.  No, it's going to -- don't worry.  (Laughter.)  No, no, it's just an expression of love. 

I don't know if Bettylu actually told me that she thought I could be President.  (Laughter.)  But what I do know is this -- that when I had just gotten out of law school and was still finding my way, and I had come back here and I was assigned to work to register voters with Project Vote, Bettylu even then was at the forefront of a nonpartisan effort to get people registered and voting, back in 1992.  And right away Bettylu treated me like a son, and with the warmth and concern, and she was somebody who introduced me to so many of the people in this room, and introduced me to so many people here in Chicago.

And so when I look around the room and I see folks like Joan Harris and Judy Gaynor and people who have been supporters of mine from the get-go, I can all trace that back to Bettylu.   We've got kind of a Obama cabal here in this room.  (Laughter.) But it's fitting that we're here, because she invested high hopes and expectations in me.  And through all the ups and downs of my political career, she has been a constant and she's always been there and has always been supportive.  And when times have been tough she was right there and stepping up all over again.  And Paul -- who may have been skeptical during this whole time -- (laughter) -- was kind enough to go along with it.

And so I make this point only -- there are very few people
-- Steny or Nancy, you may have somebody in your life like this where you can honestly say -- it’s not just words, you can honestly say I probably would not be here today were it not for
-- I can honestly say I probably would not be President of the United States were it not for Bettylu Saltzman.  (Applause.)  So I just wanted to say that.  That’s true.  That’s true.  That is true.  (Applause.)  Love that woman.  Love Bettylu.  It’s true.  Love that woman.  (Laughter.)  All right.

MRS. SALTZMAN:  Thank you, thank you.

THE PRESIDENT:  It’s true.

So we’re going to have time for questions.  I’m just going to make a couple of quick remarks to give you a sense of where we are now. 

If you read the headlines over the last couple of days, you’d actually see housing recovering; the economy stronger than expected; stock market hitting record highs.  And you’d have an impression, rightly, that after having gone through the worst economic crisis since the Great Depression, that we are -- we have recovered faster, we have gone further, our economy is doing better than just about every industrialized country in the world, or at least a large portion of them.  And that’s good news and we should celebrate that. 

But if you go beneath the headlines, what we also know is that there are huge numbers of people all across America who are still seeing their house underwater; huge numbers of Americans who want to work, believe in the dignity of work, but no matter how hard they try right now, still can’t find a job. 

There are still kids just a few miles from here who are threatened by gun violence; who aren’t in a school that is giving them what they need to compete in this 21st century; and whose prospects are dim, if we’re honest -- not because they don’t have the innate capacity but because we as a society have decided that’s not our priority. 

We still have a situation in which, on the one hand, our energy future is more promising than we’ve ever allowed ourselves to believe.  We will probably be a net exporter of traditional fossil fuels over the next 20 years -- within the next 20 years, probably a net exporter of natural gas in the next three or four years -- something that could not be imagined even five, 10 years ago -- because of the dynamism and technology that America has produced. 

But the flipside is we also know that the climate is warming faster than anybody anticipated five or 10 years ago, and that the future of Bettylu’s grandkids, in part, is going to depend on our willingness to deal with something that we may not be able to see or smell the way you could when the Chicago River was on fire, or at least could have caught on fire, but is in some ways more serious, more fundamental. 

America is probably more tolerant, more accepting of difference than any time in our history.  Obviously, you’ve got an African American President, a former and soon to be again female Speaker of the House.  The work that we did together to end "don't ask, don't tell" is something that I could not be prouder of.  But we also know that there's still a lot of people who are excluded in our society and we’ve got more work to do. 

Here in Illinois, we’ve got a vote on same-sex marriage that’s going to be coming up in the state legislature.  And I just want to say for the record it’s something that I deeply support.  I wrestled with this for a long time and I am absolutely convinced it is the right thing to do.  And we have to make sure that wherever we go, we are reminding people that the essence of America is that everybody is treated equally under the law without exception. 

And so across the board -- whether it’s getting early childhood education done, or rebuilding our infrastructure when we’ve got bridges that are buckling all across the country, and airports that aren’t working the way they’re supposed to, and ports that are too small to accommodate the big ships that are going to be coming through the Panama Canal, whether it’s making sure that we’ve got job training for people who have to retrain for the jobs of the future, we have a lot of business to do.

And the good news is that we have all the ingredients for success.  We’ve got the best cards.  And there’s not a country on Earth that would not gladly trade places with the United States of America.  The bad news is, is that what’s stopping us from making more progress than we’ve already made is a situation in Washington in which people are willing to put the next election ahead of the next generation. 

And I’ve said this before and I will say it again -- I’ve run my last election.  My only interest at this point is effective governance.  My only interest is making sure that when I look back 20 years from now, I say I accomplished everything that I could while I had this incredible privilege to advance the interests of the broadest number of Americans and to make sure that this country was stronger and more prosperous than it was when I came into office.  That’s my only interest.

And that means that I am willing to work with anybody -- Republican, Democrat or independent -- to get stuff done.  And I am not going to put the pause button on for the next year and a half or two years or whatever it is, simply to position myself for the next election.  If I’ve got a Republican who’s willing to work with me to rebuild our infrastructure, let’s go.  If I’ve got a Republican out there who’s willing to get serious about what we need to deal with our long-term deficit challenges, I’m prepared, come on, let’s talk.  If I’ve got somebody who has a different approach to dealing with climate change -- I don’t have much patience for people who deny climate change, but if you’ve got creative approaches, market-based approaches, tell me about them.  If you think I’m doing it the wrong way, let me know.  I’m happy to work with you.

But what I have not seen so far is the same willingness that I saw and continue to see in Nancy Pelosi and Steny Hoyer and Jan Jankowski and Sandy Levin -- that same willingness to put party interests or political interests aside to advance the interests of the American people.  I have not seen that on the other side yet.

And what that tells me is, is that they’ve still got their minds on winning another election.  And if that’s the case, then even as we’re doing everything we can to govern and even as I’m going to continue to reach out to the other side, I’m going to do everything I can to make sure that we’ve got Nancy Pelosi back in the speakership, because that’s where she belongs.  (Applause.)  And I know the American people will benefit from her leadership.

So the last thing I’ll say -- and then we’ll open it up for questions -- this will be hard.  Frankly, the way gerrymandering now works, and the geographical distribution of the population, makes winning back the House a challenge.  But you know what, me winning the presidency was a challenge.  Nancy Pelosi becoming the first female Speaker, that was a challenge.  It wasn’t easy back in 2006.  It wasn’t easy back in 2008.  So it’s always challenging.  Politics in America is tough, and it’s competitive, and the country does have some very deep divisions on a whole range of issues.  But it can be done.

And the question is going to be are not only the folks in this room, who are the choir, but are we able and willing to mobilize friends, neighbors, coworkers, business partners, and grab them by the collar -- not literally, necessarily, but figuratively -- and say to them, the stakes are big here and we’ve got to stop fooling around.

If all of you feel the same passion and intensity around this midterm election as so many of you felt in 2007 and 2008 when I was running for President, or in 2004 when I was running for Senate, then we’re going to get the House back.  And when we do, we’re going to be in a position to deliver for that next generation.  And nothing else should matter.  Nothing else is more important. 

Thank you.  (Applause.)

END
7:56 P.M. CDT

The White House

Office of the Press Secretary

Remarks by the President at a DCCC Event

Hilton Chicago

5:35 P.M. CDT

THE PRESIDENT:  Hello, Chicago!  (Applause.) 

Michael Jordan -- different Michael Jordan.  (Laughter.)  It is great to be home, and it is great to be among so many good friends.  Starting with Jan Schakowsky, what she does not mention is -- in her introduction -- that not too many folks gave me a chance to win that first Senate race, but Jan Schakowsky was one of the few people who did and stepped out, along with Robin Kelly, along with Michael Jordan. 

So there is a certain crew here of true believers, and we ended up having the primary night celebration in this hotel.  And I was just saying that was probably -- maybe my favorite moment in politics, as opposed to governing.  (Laughter.)  Just because nobody expected it, including maybe me.  (Laughter.)  So it’s wonderful to have Jan here. 

A couple other people, obviously, I want to acknowledge.  First of all, outstanding leader, soon once again to be Speaker, Nancy Pelosi in the house.  We love Nancy.  (Applause.)

A man who is doing a thankless job with style and grace, our DCCC Chairman, Steve Israel.  (Applause.)  Tomorrow is Steve Israel’s birthday so I want to wish everybody -- yes, let’s go ahead and sing.

AUDIENCE:  (Sings “Happy Birthday”.) 

THE PRESIDENT:  We’ve got a number of other extraordinary members -- a visitor, Steny Hoyer, whose leadership is invaluable and works so closely with Nancy.  (Applause.)

And then just an incredible congressional delegation headed up by our own Dick Durbin.  (Applause.)  I already mentioned Robin Kelly.  We’ve got Cheri Bustos here.  We’ve got Bill Foster here.  We’ve got Bobby Rush here.  We’ve got Rick Nolan here -- Rick is not from Illinois but we like him anyway.  (Laughter.)  Sandy Levin is here.  (Applause.)  And candidate in the Illinois 13th from down south who is going to win, Ann Callis is in the house.  (Applause.

And finally, a great friend and somebody who’s showing what leadership is all about here in Chicago, I could not be prouder of him, your great Mayor, Rahm Emanuel.  (Applause.)

Now, my remarks are going to be relatively brief because game seven of the Blackhawks game is going on right now.  (Applause.)  And I expect the Blackhawks to win.  (Applause.)  I know the Crosstown Classic is going on this week, and I expect the White Sox to win.  (Applause.)  But I love the Cubs too, they’re great.  (Laughter.)  I’m not a Cubs hater, I’m just saying.  (Laughter.)  I think the Sox will win.  (Laughter.)

But the main reason I’m here is just to say thanks to all of you for the incredible privilege that you’ve given me to lead this country, and to say that our work is not yet done. 

Jan rattled off a list of accomplishments that I could not be prouder of, and I couldn’t have gotten them done had it not been for Nancy Pelosi and an incredible congressional delegation from here in Illinois.  But what we also know is, despite the headlines talking about the economy starting to pick up steam; despite recovery in the housing market; despite the fact that we’ve created all those jobs; despite the fact that the stock market has hit an all-time high; what we also know is, is that there are people all across this country who are still hurting. 

People whose homes are still underwater.  People just a few miles from here who desperately want to work and can’t yet find work or can’t get the skills they need to work.  There are people just a few miles from here who are still worried about gun violence striking down their children on the way to school.  There are folks all across the country who are willing to work hard, have the same kinds of values that built this country -- looking after their families, taking responsibility not just for themselves, but also for their communities and their neighborhoods.

But the environment has changed for them, and what they need desperately is an entire nation that is willing to rally around the basic concept that if you work hard in this country, you can make it.  Doesn't matter where you come from, what you look like, what faith you practice, who you love -- that here in America, you can make it if you try.

The good news is that we know the answers to so many of our challenges.  We know, for example, that even though the economy has picked up, that if, in fact, we started putting people back to work all across this country rebuilding our roads and our bridges and our ports and our dams and our airports, that not only would that accelerate economic growth right now, but it would lay the foundation for economic growth for decades to come.  We know that.

And we know by the way if we just put it off, it’s just going to get worse.  This is deferred maintenance.  It’s like not fixing the roof on your house when it’s leaking.  It’s going to be more expensive to fix later.

We know that in this global economy, knowledge and skills and education count for everything, and that the biggest bang we can get for our education dollar is if we are investing in early childhood education so that every child is getting a good start when they enter kindergarten.  We know that.

And we’ve got great models all across the country.  We know how to do early childhood education well.  The problem is we haven’t invested in it.  We probably invest less in early childhood education in this country than in any other industrialized country in the world.  Same, by the way, goes for infrastructure, which is why not a single airport out of the top 25 in the world are in America.

We know that if we have some common-sense laws that check to see if we’re keeping guns out of the hands of criminals, or folks who have significant mental illnesses, we know that that can reduce some deaths, save some kids.  It doesn't solve the whole problem, but we know that.  And we know that 90 percent of the American people and 80 percent of gun owners agree with us.  Why aren’t we getting that done?

We know that energy is what makes an economy go.  And the great news, here in America, is that by 2020 we’ll be a net exporter of natural gas.  We will over the next couple of decades have the capacity to be energy independent for the first time, incredible change.  It will change geopolitics for generations to come, and it fees ourselves from dependence not only on foreign oil generally, but from some of the most volatile parts of the world.

But what we also know is, is that the climate is changing in ways that we can't fully predict, but we know are not going to be good for our kids.  And the good news is we’ve already doubled fuel-efficiency standards on cars.  We’ve already doubled our production of clean energy.  And if we continue to make the investments, nobody has the knowhow and the scientific skill to create the kinds of breakthroughs that deal with climate change, but we’ve got to go ahead and make that decision so that we can be leaders not just for our own kids, but for kids all around the world.

We know that making investments in science and technology pay off like nothing else.  And yet right now we’ve got a budget that is actually cutting our commitment to science and energy because bad priorities in Washington. 

And yet how else are we going to compete against China and Germany when they're doubling or tripling their R&D investments and we’re actually seeing ours fall or at least stay stagnant.

So the good news is that the United States of America is better positioned than any country on Earth to make sure that the 21st century remains our century, just like the 20th was.  And a world city like Chicago is better positioned than just about anybody.  Look at the assets that are here.  We got the best universities.  We’ve got the most dynamic entrepreneurs.  We’ve got everything we need to succeed.

But the one thing that's still missing is a politics that matches up with the decency and the hard work and determination and creativity of the American people.  We’ve got a politics that's stuck right now.  And the reason it’s stuck is because people spend more time thinking about the next election than they do thinking about the next generation.

Now, I’ve got to tell you, I’ve run my last political race, and many of you may be relieved about that because -- (laughter) -- my good friend Ab Mikva in this town used to say that having a friend who is a politician is like permanently having a child in college.  (Laughter.)  You’re always writing checks.  So I’ve graduated.  (Laughter.)

But the reason that I’m here is because for me to govern effectively over the next three, three and a half years, part of my task is to constantly, continually reach out to the other side to try to find common ground; to look for those Republicans who don't think compromise is a dirty word; to continue to advance the agenda that the American people sent me there to advance; to make work pay; to attract new businesses to our shores; to make sure that we’re competitive; to build a middle class.  And so any opportunities I have to do that, I will seize them.

And I have to say, as tough a fighter as Nancy Pelosi is, I have watched her and I have watched some of the Democrats who are in this room take very tough votes, even going against some of the special interests who support Democrats typically if we think it’s the right thing to do.  We’ve shown ourselves willing to do it. 

And so I’m constantly eager to find Republicans who are willing to do the same, because I actually don't think that any party has a monopoly on wisdom.  And I actually think that Democrats, we have to be willing to compromise sometimes to get stuff done.  We’re not an ideological party; we’re a practical party.

But what I will also say is this, that if day in, day out, what we confront is obstructionism for the sake of obstructionism and what appears to be an interest only in scoring political points or placating a base, as opposed to trying to advance the interests of the American people, then we’ve got to figure out a way to work around that.  And one of the best ways to work around it is to have a Democratic House of Representatives.  (Applause.)

So thanks to the work of Steve Israel, thanks to incredible candidates like Ann Callis, we’ve got a great chance of taking back the House.  And I’m going to be working tirelessly wherever I get the opportunity to make the case to the American people that our ideas are the right ones for growing the middle class; that our ideas are the right ones to protect our environment; that our ideas are the right ones in terms of making sure our kids are getting a great education. 

And any Republican who joins up and says, I agree, those are the right ideas -- hey, I’m ready to work.  But those who don’t, I’m going to be out there making the case.  And I know that that’s what some of the great candidates at the DCCC are going to be doing as well.  And the only way they’re able to do that is if they’ve got support from folks like you. 

So I just want to say to all of you, I’m grateful to you, but do not get complacent.  Do not buy into this notion somehow that, oh, these problems are too big or Washington is broken.  No, Washington is not broken.  It’s broken right now for a particular reason, but it’s not permanently broken.  It can be fixed. 

We got a whole bunch of stuff done my first two years.  We’ve gotten a whole bunch of stuff done since that time.  And I’m optimistic about us getting legislation passed this year, but we could be doing a whole lot more -- we can only do it with you.  We can only do it not only by you contributing to the DCCC, but also by talking to your friends and neighbors and colleagues about the ideas that are important for America. 

And we can only do it if you guys sustain a sense of hope, a sense of promise, a belief that here in America, sometimes we take a bad turn, sometimes we make mistakes, but the trajectory of this country is for greater rights, more prosperity, greater tolerance, people still from around the world come here, recognizing that in this country there is this unique idea that all of us count and that all of us can make it.  And that’s just a great gift, and it should make us hopeful. 

And when I see young people, some of whom are here today, I am constantly inspired because they are smarter than we were, they’re more sophisticated than we were, in many ways they’re more conscientious than we were.  So this is -- the generation coming behind us, I mean, they are spectacular.  We’ve just got to make sure that we leave for them a political system that allows them to express all that incredible creativity and ingenuity and wonderful values that they’re going to be able to express through our politics.  That’s what this project is about, and we can’t do it without you.

Thank you very much, everybody.  God bless you.  Thank you.  (Applause.)

END  
5:52 P.M. CDT