The White House

Office of the Press Secretary

President Obama Announces Presidential Delegation to attend the Inauguration of His Excellency Tabaré Vázquez, President of the Oriental Republic of Uruguay

President Barack Obama today announced the designation of a Presidential Delegation to Montevideo, Uruguay to attend the Inauguration of His Excellency Tabaré Vázquez, President of the Republic of the Oriental Republic of Uruguay on March 1, 2015.

The Honorable Krysta Harden, Deputy Secretary of Agriculture, will lead the delegation.

Members of the Presidential Delegation:

Mr. Brad Freden, Chargé d'affaires to the Oriental Republic of Uruguay, Department of State

The Honorable Michele J. Sison, Deputy Representative of the U.S. to the United Nations, Department of State

Weekly Address: Ensuring Hardworking Americans Retire with Dignity

President Barack Obama tapes the Weekly Address in the Library of the White House, Feb. 27, 2015

President Barack Obama tapes the Weekly Address in the Library of the White House, Feb. 27, 2015. (Official White House Photo by Amanda Lucidon)

In this week’s address, the President reiterated his commitment to middle-class economics, and to ensuring that all hardworking Americans get the secure and dignified retirement they deserve.

While most financial advisers prioritize their clients’ futures, there are some who direct their clients towards bad investments in return for back-door payments and hidden fees. That’s why, earlier this week, the President announced that he is calling on the Department of Labor to update rules to protect families from conflicts of interest by requiring financial advisers to put their clients’ best interest before their own profits.

The President emphasized his promise to keep fighting for this policy and for others that benefit millions of working and middle-class Americans.

Transcript | mp4 | mp3

Related Topics: Middle Class Security

The White House

Office of the Press Secretary

Weekly Address: Ensuring Hardworking Americans Retire with Dignity

WASHINGTON, DC — In this week’s address, the President reiterated his commitment to middle-class economics, and to ensuring that all hard-working Americans get the secure and dignified retirement they deserve.  While most financial advisers prioritize their clients’ futures, there are some who direct their clients towards bad investments in return for backdoor payments and hidden fees.  That’s why earlier this week the President announced that he is calling on the Department of Labor to update rules to protect families from conflicts of interest by requiring financial advisers to put their clients’ best interest before their own profits.  The President emphasized his promise to keep fighting for this policy and for others that benefit millions of working and middle class Americans.

The audio of the address and video of the address will be available online at www.whitehouse.gov at 6:00 a.m. ET, February 28, 2015.

Remarks of President Barack Obama
Weekly Address
The White House
February 28, 2015

Hi everybody.  In America, we believe that a lifetime of hard work and responsibility should be rewarded with a shot at a secure, dignified retirement.  It’s one of the critical components of middle-class life – and this week, I took new steps to protect it. 

Six years after the crisis that shook a lot of people’s faith in a secure retirement, our economy is steadily growing.  Last year was the best year for job growth since the 1990s.  All told, over the past five years, the private sector has added nearly 12 million new jobs.  And since I took office, the stock market has more than doubled, replenishing the 401(k)s of millions of families.

But while we’ve come a long way, we’ve got more work to do to make sure that our recovery reaches more Americans, not just those at the top.  That’s what middle-class economics is all about—the idea that this country does best when everyone gets their fair shot, everybody does their fair share, and everyone plays by the same set of rules. 

That last part—making sure everyone plays by the same set of rules—is why we passed historic Wall Street Reform and a Credit Card Bill of Rights.   It’s why we created a new consumer watchdog agency.  And it’s why we’re taking new action to protect hardworking families’ retirement security. If you’re working hard and putting away money, you should have the peace of mind that the financial advice you’re getting is sound and that your investments are protected.

But right now, there are no rules of the road.  Many financial advisers put their clients’ interest first – but some financial advisers get backdoor payments and hidden fees in exchange for steering people into bad investments.  All told, bad advice that results from these conflicts of interest costs middle-class and working families about $17 billion every year. 

This week, I called on the Department of Labor to change that – to update the rules and require that retirement advisers put the best interests of their clients above their own financial interests.  Middle-class families cannot afford to lose their hard earned savings after a lifetime of work.  They deserve to be treated with fairness and respect.  And that’s what this rule would do.

While many financial advisers support these basic safeguards to prevent abuse, I know some special interests will fight this with everything they’ve got.  But while we welcome different perspectives and ideas on how to move forward, what I won’t accept is the notion that there’s nothing we can do to make sure that hard-working, responsible Americans who scrimp and save can retire with security and dignity.

We’re going to keep pushing for this rule, because it’s the right thing to do for our workers and for our country.  The strength of our economy rests on whether hard-working families can not only share in America’s success, but can also contribute to America’s success.  And that’s what I will never stop fighting for – an economy where everyone who works hard has the chance to get ahead.

Thanks, and have a great weekend.

Weekly Address: Ensuring Hard-Working Americans Retire with Dignity

February 27, 2015 | 3:26 | Public Domain

In this week’s address, the President reiterated his commitment to middle-class economics, and to ensuring that all hard-working Americans get the secure and dignified retirement they deserve.

Download mp4 (127MB) | mp3 (8MB)

The White House

Office of the Press Secretary

Statement by the Press Secretary on H.R. 33

On Friday, February 27, 2015, the President signed into law:

H.R. 33, the "Protecting Volunteer Firefighters and Emergency Responders Act” to fund the Department of Homeland Security through March 6, 2015.

President Obama Speaks at the Departure Ceremony of Attorney General Eric Holder

February 27, 2015 | 27:10 | Public Domain

On February 27, 2015, President Obama delivered remarks at Attorney General Eric Holder's departure ceremony at the U.S. Department of Justice.

Download mp4 (1024MB) | mp3 (65MB)

President Obama Meets with President Sirleaf of Liberia

February 27, 2015 | 12:06 | Public Domain

President Obama and President Ellen Johnson Sirleaf of Liberia give remarks to the press before their bilateral meeting at the White House, February 27, 2015.

Download mp4 (445MB) | mp3 (29MB)

The White House

Office of the Press Secretary

Presidential Proclamation -- National Consumer Protection Week, 2015

NATIONAL CONSUMER PROTECTION WEEK, 2015

- - - - - - -

BY THE PRESIDENT OF THE UNITED STATES OF AMERICA

A PROCLAMATION

As Americans, we believe that our destiny is written by us -- not for us -- and that ours is a country where hard work should pay off and responsibility should be rewarded.  Through all of the challenges we have overcome and the grueling work required to bring our economy out of the worst financial crisis since the Great Depression, we have held on to that promise.  Yet each day, fraud, abuse, and theft threaten the economic well-being of individuals and families across our Nation who spend their lives striving to build a sense of security.  During National Consumer Protection Week, we redouble our efforts to protect Americans from financial fraud and identity theft, and to ensure our economy gives every person a chance to succeed.

Over the past 6 years, my Administration has been committed to protecting the hard-earned money and privacy of our citizens.  In today's digital age, we are more connected and do more online than ever before.  Unfortunately, the very technologies that empower us to do great good can also be used to undermine us and inflict great harm.  That is why my Administration is working to create a single, strong national standard so people know when their information has been stolen or misused, and why we are encouraging companies to equip consumers with their credit scores free of charge so they can quickly detect and deal with fraud.  I also continue to call on the Congress to enact overdue cybersecurity legislation that will help protect Americans -- particularly by clarifying companies' obligations when sensitive data is breached.

As part of our BuySecure Initiative, the Federal Government is leading the way by transitioning to a more secure chip and PIN payment system -- because you should be able to visit our National Parks or use the Postal Service without risking your identity.  Earlier this year, we convened the first-ever White House Summit on Cybersecurity and Consumer Protection, and we are taking new steps to assist the victims of identity theft. Furthermore, Americans who responsibly prepare for retirement should not be taken advantage of, so we are proposing a new rule to require retirement advisors to put their clients' financial interests before their own.  We have also introduced a discussion draft of legislation for a new Consumer Privacy Bill of Rights to safeguard basic principles that both defend personal privacy and allow industry to keep innovating.

Consumers can also take steps to protect themselves and their families.  Predatory and deceptive lending practices, identity theft, financial scams, and fraud can cause lasting devastation for victims.  By empowering ourselves with information about our rights and the resources available to us, we can be prepared and make better-informed decisions.  I encourage everyone to visit www.NCPW.gov and www.IdentityTheft.gov to learn more about the risks and vulnerabilities we all face, as well as the steps we can take to defend ourselves and the tools and support available to help save time, money, and heartache.

When we, as Americans, put our minds together and our shoulders to the wheel, we can accomplish anything.  The United States created the Internet and a new age of information -- but we also pioneered the Bill of Rights, and we believe individuals have a sphere of privacy around them that should not be breached.  This week, let us recommit to safeguarding consumers, and let us strive to grow our economy in ways that preserve the values we hold dear so that each of us has the power to translate our dreams into reality.

NOW, THEREFORE, I, BARACK OBAMA, President of the United States of America, by virtue of the authority vested in me by the Constitution and the laws of the United States, do hereby proclaim March 1 through March 7, 2015, as National Consumer Protection Week.  I call upon government officials, industry leaders, and advocates across the Nation to share information about consumer protection and provide our citizens with information about their rights as consumers.

IN WITNESS WHEREOF, I have hereunto set my hand this twenty-seventh day of February, in the year of our Lord two thousand fifteen, and of the Independence of the United States of America the two hundred and thirty-ninth.

BARACK OBAMA

The White House

Office of the Press Secretary

Statement from Press Secretary Josh Earnest

Upon return from the Department of Justice, the President convened a meeting in the Oval Office with Secretary of Homeland Security Jeh Johnson, OMB Director Shaun Donovan and members of his senior team to discuss the impending deadline for funding the Department of Homeland Security. The President then called Democratic Leader Nancy Pelosi and Senate Democratic Leader Harry Reid to get an update on efforts to ensure that the Department of Homeland Security does not shut down.

The White House

Office of the Press Secretary

Remarks by the President and Attorney General Eric Holder at Departure Ceremony

U.S. Department of Justice

Washington, D.C.

5:46 P.M. EST

THE PRESIDENT:  Hello, everybody!  (Applause.)  Thank you.  Please, please, everybody have a seat.  I think it's important to point out, first of all, that Eric has more gray hair than that. (Laughter.)  Clearly, he posed early in his tenure.  (Laughter.) But it's a remarkable likeness, a wonderful portrait.  I am thrilled to be here, despite the fact that Eric is really just milking this departure thing -- (laughter) -- for everything that it's worth.  I mean, golly.  (Laughter.) 

I'm thrilled to be at DOJ with all of you today to celebrate a great friend and a great public servant, somebody who’s led this department with integrity and, along with all of you, made our nation more free and more just -- our Attorney General, Eric Holder.  (Applause.)  

Now, in September, when Eric and I stood together at the White House and announced that he’d be leaving the Justice Department, he thanked all of you for joining him on a journey that, in his words, “will always be guided by the pursuit of justice and aimed at the North Star.”  And that sums up Eric’s career.  A life guided by justice, aimed at his North Star -- his bedrock belief in the fundamental rights and equality of all people. 

It’s the principle that shaped his career -- from his early days as a federal prosecutor through his years on the bench, his previous turns at the Justice Department as a Deputy Attorney General and Acting Attorney General, and finally, his exemplary service as 82nd Attorney General of the United States.

Eric is America’s third-longest serving Attorney General.  (Applause.)  I know it felt even longer.  (Laughter.)  And I’ll just come out and say it -- he has been one of our finest.  (Applause.)  Hundreds of terrorism convictions.  The largest mafia takedown in history.  Billion-dollar financial fraud cases. Long-overdue reforms to our criminal justice system.  Thanks in part to Eric’s leadership, the overall crime rate and overall incarceration rate declined together -- for the first time in 40 years last year. 

And then there’s all that Eric has done to restore what he calls the “conscience” of the nation -- our Civil Rights Division.  And as many of you know, Eric has a personal connection to that office.  When Nicholas Katzenbach was Deputy Attorney General during the Kennedy administration, he escorted two African-American students through the doors of the University of Alabama after the courts ordered that school to be desegregated.  And one of those students happened to be a young woman named Vivian Malone.  Her younger sister, Sharon, eventually became an accomplished and renowned doctor, and married a promising young lawyer, somewhat below her standards -- (laughter) -- named Eric Holder.  So if you’ve ever wondered why Eric has Katzenbach’s portrait hanging in his office -- that’s why.

Under Eric’s watch, this department has relentlessly defended the Voting Rights Act -- and the right to vote -- pushed back against attempts to undermine that right.  He’s challenged discriminatory state immigration laws that not only risked harassment of citizens and legal immigrants, but actually made it harder for law enforcement to do their job.  He’s brought a record number of prosecutions for human trafficking and hate crimes, and resolution to legal disputes with Native Americans that had languished for years. 

Several years ago, Eric recommended that our government stop defending the Defense of Marriage Act, because he wants our country to be a place where love is love -- and where same-sex marriage is recognized on the federal level, and same-sex couples can receive the same federal benefits as anybody else.  (Applause.)   

With Eric Holder as its lawyer, America has become a better country.  Which means that saying goodbye is bittersweet.  You have done a remarkable job.  It’s hard to let you go.  I tried to talk him out of it.  (Laughter.)  But he’s earned a break.  And Sharon, and Brooke, and Maya, and Buddy, they’ve waited a pretty long time to get you back.

Now, Eric promised to stay on until the Senate confirms his successor.  And just yesterday, the Senate Judiciary Committee approved Loretta Lynch to be the next Attorney General.  (Applause.)  Once the entire Senate confirms her and she’s finally allowed to get to work, I know that she is going to do a superb job.  And, Eric, that means that you’re leaving the Justice Department in outstanding hands.

Let me close by saying that you don’t have to take my word that Eric has made a difference in the life of this country.  We collected just a few samples of the letters that were written during the course of the presidency or after the announcement that Eric was leaving. 

“Never in my lifetime,” read one letter from an older American in Michigan, “can I remember any Attorney General of the United States that has done so much for our country and all its citizens.” 

A woman in California wrote, “Eric Holder was the best U.S. Attorney General ever.  When people complain about you, that means you’re doing something right.  He will truly be missed.”

A Kentucky man wrote to say, “We thank you, Mr. Holder, for your unwavering passion in pursuit of your honorable vision.  You made a difference.  [You are] much more than simply a public official.  [You are] a servant, possessing a heart with the audacity to care.”

And I’ll provide one last testimony from today, not in written form.  Working with Eric in the wake of the Trayvon Martin case, we initiated something called My Brother’s Keeper.  And we’re trying to reach out to young people all across the country who may not have all the advantages, may sometimes be subject to stereotypes, trying to give them pathways for success. 

And as part of this, we had a group of young men, African American and Latino who are White House mentees drawn from this local area.  And today, we had dinner -- or lunch.  Broderick was there.  And we sat down and I explained to them that they don’t have to be that tense about which fork to use, you kind of work your way in; that when I had dinner with the Queen of England I seemed to do okay with just that basic rule, and not eating with my mouth open.  (Laughter.) 

And we went around the room and they talked about their hopes and their aspirations, and what colleges they had gone to and what they were doing.  And there were a couple of outstanding football players in the group, and a track star, and a number of future neurobiologists, and several who are planning to join our armed forces.  And this one young man, who had a, at the moment, disqualifying haircut -- (laughter) -- said, “I want to be the Attorney General of the United States.”  Didn’t say he wanted to be governor or a senator or a congressman, or even President.  He said, “I want to be the Attorney General of the United States.” 

And I think about all the young people out there who have seen you work and have been able to get just an innate sense, without knowing you personally, that you’re a good man.  And having good men in positions of power and authority, who are willing to fight for what’s right, that’s a rare thing.  That’s a powerful thing.  It’s something that shapes our future in ways we don’t even understand, we don’t always imagine.  It made me very proud. 

So, Eric, your country thanks you for your honorable vision, and your unwavering passion and, as the gentleman from Kentucky said, your audacity to care.  Michelle and I thank you for being a friend and partner throughout this incredible journey. 

And to all the men and women of the Department of Justice, thank you for your extraordinary service on behalf of the American people. 

With that, it’s my pleasure to introduce my friend, Attorney General Eric Holder.   (Applause.) 

ATTORNEY GENERAL HOLDER:  Before I begin my remarks, I want to do something that’s pretty risky, which is to recognize somebody -- at the risk of not recognizing a whole bunch of other people -- to whom I owe so much:  Senator Patrick Leahy is here. (Applause.)  In tough times, both professional and personal, this is a man who has been there for me.  He is a patriot in the truest sense of the word.  This country is better for the work that you have done as a senator, generally, and more specifically, when you chaired the Judiciary Committee. 

I learned a lot from you.  The relationship that we have will continue beyond my time here at the Justice Department.  And at least for today -- and he'll understand what I mean by this -- at least for today, you are the real Patrick.  (Laughter.)  Ask him about that.

I came to this department as an unformed, 25-year-old graduate from law school.  I will leave grayer and wiser, but still struck by the wonder of all that this great organization and its people have exposed me to.  I have made friends during my time here, and lost some of them to the vagaries of life.  But each of those people has left an indelible mark on who I am and who I still aspire to be.

The beauty of this department is that, at its best, it is like our country at its best -- always growing, always changing, always being vigilant in the defense of those values that have distinguished this nation and made it truly exceptional.  This quality is derived from the ideals that serve as the foundation for all that we love about America.

Great as it is, our nation is not yet perfect.  The fact that we can acknowledge this is what truly distinguishes us as a people.  We have always examined ourselves and determined that which needs to be improved, that which needs to be maintained, and that to which we should aspire.  This is the essence of and the beauty of the United States of America.  Unlike other countries, complacent in an older, sclerotic system, we are still young, dynamic, and unafraid to question ourselves. 

This spirit initially led to revolution, and then to the removal of the sin of slavery, the right of women to vote, a great Civil Rights Movement that truly transformed our nation, and now a recognition of the rights of all Americans regardless of their sexual orientation. 

Make no mistake:  We still have unfinished business and work to do.  Reform of our criminal justice system must continue.  And under Loretta and Sally, I'm sure that will be the case.  The historic wrongs visited upon our native people must be righted.  The widening gap of income inequality must be reversed.  And in the defense of our nation, we must always adhere -- always adhere -- to the values that define us.  And at all costs -- all costs  -- the right to vote must be protected.  (Applause.)

Now, that list may seem daunting.  But if we are true to who we are as Americans, no problem is too big, no issue insurmountable.  And beware of those who would take us back to a past that has really never existed or that was imbued with a forgotten inequity.  Our destiny as Americans is always ahead of us.  Our gaze is always focused on the horizon. 

Those who have loved this nation most have dared greatly and have sought to change the status quo for the better.  The Founding Fathers never let it be forgotten -- they chose revolution rather than accept an unjust status quo.  Lincoln; Frederick Douglass; Teddy Roosevelt; FDR; Garvey; Susan B. Anthony; Margaret Sanger; Jackie Robinson and Branch Rickey; John Lewis and Dr. King; JFK and LBJ; Vivian Malone; Harvey Milk; Barack Obama.  (Applause.) 

We should not fear change.  It is part of who we are as Americans.  It is what distinguishes us.  It is what makes us unique. 

Now, I leave this place proud of what we have accomplished over the last six years, and grateful for all that DOJ has given me these past 39 years.  This has been my home, and you will always be my family. 

I thank the parents who raised me, and the West Indian sensibility that they instilled in me.  The New York City Public School System that educated me.  Columbia University that nurtured -- and tolerated -- me.  (Laughter.)  The woman who has loved me so long.  The kids who have been the joy and -- I hope that they really understand -- the true pride, the true pride of my life.  A brother who has been more than a sibling, he has been a dear friend.  Beautiful sisters-in-law; a brilliant brother-in-law.  The guys at the club -- the guys at the club -- you know who you are.  And my crew from 24th Avenue and 101st Street.

And more recently, a President and colleagues in this administration who stuck by me when I didn’t always make it the easiest thing to do.  I'm grateful to this great nation who gave a black kid from East Elmurst, Queens, New York City, more support and opportunities than any individual could have hoped for.  Thank you, America.

To the wonderful, dedicated, accomplished men and women of this great department -- I realize that I've asked for so much from each of you over the last six years.  But let me make one final request:  Keep going.  Keep fighting.  Keep believing in your ability to improve our country and our world.  And know this -- know this:  No Attorney General, no AG has ever loved this institution or you more.  Not one. 

Now, I lack the words to fully convey what this place and all of you mean to me.  So let me end this way, and paraphrase Duke Ellington:  I will miss you as I have loved you all -- madly.  I love you madly. 

Thank you, and goodbye.  (Applause.) 

END
6:08 P.M. EST