The White House

Office of the Vice President

Remarks by the First Lady at 2012 DNC Reception

Marriott Wardman Park, Washington, D.C.

6:17 P.M. EDT

        MRS. OBAMA:  Ah, this is a good group!  (Laughter.)  Thank you.  Thank you.  Thank you so much.  It is a pleasure and an honor to be here with all of you.  Tonight you're looking good.  (Laughter.)  

        AUDIENCE MEMBER:  You look good!  (Applause.)

        MRS. OBAMA:  Well, let me start.  I just want to say a few thank-yous.  I want to start by thanking my dear, dear friend, and everybody should know by now, Terri was my mentee in college -- Terri Sewell -- Congressman Sewell -- for her leadership, for her service, and for taking the time to be here.  Tonight we've got to give her a round of applause.  She's doing a terrific job representing her state.  (Applause.)

        I also want to recognize Spencer -- Spencer is out there -- Antilla and Shaundra, thank you all for all of your work on the host committee for this event.  And I know that there were many, many more who worked on putting this together.  This means so much to us, and I know it takes a lot of hard work from a lot of busy people.  But I want to thank all of you, finally, for joining us here tonight.

        I am thrilled to see so many new faces.  But I am also thrilled to see so many old friends -- the folks who --

        AUDIENCE MEMBER:  We love you.

        MRS. OBAMA:   Love you, too.  (Applause.)

        They're the folks who have been with us since the very beginning, through all of the ups and downs along the way -- and there have been many.  And I know there is a reason why all of you are here tonight.  You're here because you know that we stand at a fundamental crossroads for our country.  You're here because you know that in just 13 months -- and it might be 12, but I lose track, it's coming soon -- (laughter) -- we're going to make a choice that will impact our lives for decades to come.

        And you're here because you care about your fellow citizens, and I know everybody here cares about our kids, about our grandkids, and a world that we're leaving behind for them.  

        And quite frankly, that's why I'm here tonight.  That's why I left Malia and Sasha with Grandma -- (laughter) -- to come here to be -- because my husband is out of town.  (Laughter.)  

        As First Lady, I have had the privilege of traveling all across this country, meeting folks from all different backgrounds and hearing what's going on in their lives.  And every day I hear about the businesses they're trying to keep afloat.  I hear about the doctor bills they can't pay, or the mortgage they can no longer afford.  I hear about how folks are taking that extra shift or working that extra job, how they're saving and sacrificing and never spending a dime on themselves, because they desperately want something better for their kids.

        And make no mistake about it, these struggles are not new.  For decades now, middle-class folks have been squeezed from all sides.  Cost for things like gas and groceries and tuition have been rising, but people's paychecks just haven't kept pace.  So when this economic crisis hit, for too many families the bottom just fell out.                 

        So the question today is what are we as a country going to do about it?  Where do we go from here?  And I know that amidst all the chatter and the debates, it can be hard to see clearly exactly what's at stake here.  These issues are complicated, and quite frankly, folks are busy raising our families, working full-time jobs, many of us helping out in our communities.  And many of us just don't have the time to follow the news like we should, or sort through the back-and-forth and figure out how all this stuff connects to our daily lives.

        But the fact is that in just a little over a year from now we're going to make a decision between two very different visions for this country -- very different.  And I'm here tonight because when it comes to just about every issue -- from our health to our economic security, to the quality of our schools -- the stakes for our families and for our country have never been higher.

        Let's start with the American Jobs Act that my husband just sent to Congress.  (Applause.)  Let's start there.  When you think about it, when we talk about this bill --

        AUDIENCE MEMBER:  Pass that bill!  

        MRS. OBAMA:  That's right, pass that bill.

        This bill will give tax cuts to 6 million small business owners.  We're talking about folks who run the restaurants and the stores and the startups that create two-thirds -- two-thirds -- of all jobs in this economy each year.  

        We're talking about people who work themselves to the bone every day, then head home and pore over those books late into the night, determined to make those numbers add up.  We're talking about a tax cut that can mean the difference between providing for their families, or not.  Between hiring new employees, or handing out pink slips.  Between keeping those doors open and those businesses, or closing up shop for good.  That's what's at stake here.

        When we talk about how this bill would extend unemployment insurance for 6 million Americans, we are talking about folks who are just weeks away from losing their only source of income.  So this is literally about whether or not millions of our families and children are to have food on their tables and a roof over their head.  

        It's about whether folks will have money in their pockets, which, in turn, means money in our economy, which means more jobs.  And it's about whether, as a country, we will honor that fundamental promise -- a promise that we made generations ago that when times are hard we do not abandon our fellow citizens.  We don't do that.  (Applause.)  We do not let everything fall apart for struggling families.  (Applause.)

        Instead, in this country we say, there but for the grace of God goes my family.  That's what we say.  (Applause.)  Instead, we remember that we are all in this together.  And we extend a helping hand.  That is the choice in this election.  

        And how about the very first bill my husband signed into law -- the Lilly Ledbetter Fair Pay Act -- (applause) -- to help women get equal pay for equal work.  Now, he did this because, as he put it, we believe that here in America there are no second-class citizens in our workplace.  And he did it because he understands that when nearly two-thirds of women are breadwinners or co-breadwinners, women's success in this economy is the key to families' success in this economy.  You can't separate those two things.  (Applause.)

        So closing that pay gap can mean the difference between women losing $50, $100, $500 from each paycheck, or having that money to buy gas and groceries and school clothes on the backs of their kids.  That is the choice that we have in this election.

        Let's talk for a minute about health care.  Well, in the last year -- just last year -- we made history together, by finally passing health reform.  (Applause.)  We did that together.  That's a done deal.  (Applause.)  But now there are folks out there talking about repealing this reform.  And today, we need to ask ourselves, will we let them succeed?  Is that what we should do?

        AUDIENCE:  No!

        MRS. OBAMA:  Will we let an insurance company deny us coverage because we have preexisting conditions like breast cancer or diabetes?  Or will we stand up and say that, in this country, we won't allow folks to go bankrupt because they get sick?  Who are we?  (Applause.)

        Will we let insurance companies refuse to cover basic preventative care?  Things like cancer screenings, prenatal care, that save money, but more importantly, saves lives.  Or will we stand up for our lives and for the lives of the people we love?  Who are we?  That is what's at stake here.  That is the choice in this election.  

        And think for a moment about what we've done on education.  And think about the investments we've made to raise standards and reform our public schools.  It's about improving the circumstances for millions of our children in this country.  I mean, kids we know are sitting in crumbling classrooms -- kids we know who have so much promise; kids who could be anything they wanted if we just gave them a chance.  (Applause.)  

        I mean, just think about how this President has tripled investments for job training at community colleges just this year.  And this is about millions of hardworking folks who are determined to do what it takes to get the skills they need to better themselves -- better jobs, better wages.  Folks who will do anything that it takes.  These folks aren't lazy; they're ready to get involved.  (Applause.)  These folks work full-time jobs, they're raising their kids, but they still make time to go to class at night, study late into the evening because they desperately want to do something to better their lives and their families.  

        And make no mistake about it, this investment in our students and in our workers will determine nothing less than the future of our economy.  It will determine whether we're prepared to make the discoveries and to build the industries that will let us compete with any country, anywhere in the world.  That's what's at stake here.

        And let's not forget that -- what it meant when my husband appointed those two brilliant Supreme Court justices.  (Applause.)  And for the first time in history, our daughters and our sons watched three women take their seats on our nation's highest court.  (Applause.)  And we cannot forget the impact that the decisions will have on our lives for decades to come -- on our privacy and our security, on whether we can speak freely, worship openly, and love whomever we choose.  That's what's at stake in this election.  (Applause.)

        And think about how we are finally bringing our troops from Iraq and Afghanistan.  (Applause.)  And more importantly, we're helping them and their families get the education, the employment and the benefits that they have earned.  And let's not forget how, because we finally ended "don't ask, don't tell" -- (applause) -- our troops will never again have to lie about who they are to serve the country they love.  

        Think about how we finally brought to justice the man behind the 9/11 attacks and so many other horrific acts of terror.  (Applause.)  And just think about what it means to finally have a foreign policy where we work to keep our country safe, but also  -- also restore our standing in the world.  That is what's at stake in this election.  (Applause.)

        So make no mistake about it -- whether it's health care, the economy, education or foreign policy, the choice we make in this election will determine nothing less than who we are as a country, and who we want to be.  

        Who are we?  Will we be a country that tells folks who've done everything right, but are struggling a little bit -- will we tell them, tough luck, you're on your own?  Who are we?  Or will we honor that fundamental American belief that I am my brother's keeper, that I am my sister's keeper -- (applause) -- and if one of us is hurting, then all of us are hurting?  Who are we?  (Applause.)  

        Will we be a country where opportunity is limited to just the few at the top?  Or will we give every child -- every child  -- a chance to succeed, no matter where she's from, or what she looks like, or how much money her parents are?  Who are we?  That's what's at stake here.

        Will we lose sight of those basic values that made our country great and built a thriving middle class?  Or can we rebuild our economy for the long term so that work pays and responsibility is actually rewarded, and everyone -- everyone -- in our country gets a fair shake and does their fair share?  Who are we?  (Applause.)

        That is the choice we face.  Those are the stakes.  But believe me, my husband knows this all too well.  He understands these issues because he's lived them.  He was raised by a single mother struggling to put herself through school and pay the bills.  And then when she needed help, who stepped in?  His grandmother -- waking up every morning before dawn to take a bus to her job at the bank.  And she worked hard, his grandmother; she was good at what she did.  But for nearly two decades, she was passed over for promotions.  Why?  Because she was a woman.  She watched men no more qualified than she was -- men she had actually trained -- climb the corporate ladder ahead of her.

        So Barack knows what it means when a family struggles.  He knows what it means when someone doesn't have a chance to fulfill their potential.  And believe me, today, as a father, he knows what it means to want your child to grow up with no limits to their dreams.  I mean, those are the experiences that have made him the man and the President that he is today, and we are blessed to have him.  (Applause.)  

        That is what I hear in his voice when he returns home after those long days traveling around the country, and he tells me about the people he's met.  That's what I see in those quite moments late at night, after the girls have gone to bed, and he's still up poring over the letters people have sent him.  The letter from the woman dying of cancer whose insurance company won't cover her care.  The letter from the father struggling to pay his family’s bills.  The letter from the young person with so much promise and so few opportunities.

        And I hear the passion and the determination in his voice.  You won’t believe what these folks are going through -- that’s what he tells me.  He says, "Michelle, this is not right.  We’ve got to fix this.  We have way too much more work to do."  (Applause.)  See, what you all have to remember is that when it comes to the people that he meets, Barack has a memory like a steel trap.  It messes me up sometimes.  (Laughter.)  I mean, he might not remember your name, but if he has had a few minutes and a decent conversation with you, he will never forget your story.

        It becomes imprinted on his heart.  And that is what he carries with him every day.  It’s our collection of hopes and struggles and dreams.  And that is where Barack Obama gets his passion.  That’s where he gets his toughness and his fight.  And that’s why, even in the hardest moments when it all seems lost and we’re sweating it -- trust me, Barack Obama never loses sight of the end goal.  He never lets himself get distracted by the chatter and the noise.  He just keeps moving forward.  (Applause.)  

        That is who your President is.  But I have said this before -- and many of you have heard me say this -- I will say it again. He cannot do this alone.  That was never the promise.  That was never the deal.  (Applause.)  He needs your help.  He needs you to keep up the terrific work that you’ve been doing.  He needs you to make those calls and to register those voters.  That will make the difference.  

        And he certainly needs you to take those “I’m In cards you got and sign up, and turn them back in.  And then, work and get your friends and your neighbors and your colleagues, convince them to join you in giving just a little part of your life each week to getting this country where we know it should be.  (Applause.)  That’s what he needs from all of you.

        But I’m not going to kid you, the next phase of this journey is going to be long and it is going to be hard.  Is she okay?  See, that’s always a problem -- standing up in heels.  (Laughter.)  But, hopefully, she’ll be fine.  

        But this journey is going to be long and we have to understand that.  It’s going to be hard.  It is going to be complete with so many twists and turns along the way.  But the truth is -- and we have to remember this -- that is how change always happens in this country.  That is nothing new.  We all know that.  The reality is that real change is slow and it doesn’t always happen all at once.  But if we keep showing up, if we keep fighting the good fight, if we keep doing what we know is right, then we always get there.  We always get there.  (Applause.)  Maybe not in our lifetimes, but maybe in our children’s lifetimes, or our grandchildren’s lifetimes.  

        Because in the end that’s what this is all about.  In the end, we are not fighting these battles for ourselves.  We’re fighting them for our sons and our daughters, for our grandchildren, yes.  We’re fighting for the world we desperately want to leave for them.  

        And I’m not in this just as a mother who wants to leave a legacy for my children.  I’m in this as a citizen who knows what we can do together to change this country for the better.  (Applause.)  Because the truth is no matter what happens, my girls will be okay.  My girls are blessed.  They will have plenty of advantages and opportunities in their lives and we thank God every day for that.  And that’s probably true for a lot of your families as well.

        But I think the last few years have shown us the truth of what Barack Obama has always said, that if any child in this country is left behind, then that matters to all of us.  Even if she is not our daughter, even if he is not our son, that is our child.  (Applause.)  If any family in this country struggles, then we cannot be fully content with our own family’s good fortune, because that is not what we do.  In this country, that is not who we are.

        In the end, we cannot separate our own story from the broader American story.  Like it or not, we are all in this together.  And that is a good thing.  And we know that here in America, we can shape our own destiny.  We know that if we make the right choices and have the right priorities, we can ensure that everyone gets a fair shake and a chance to get ahead.

        So we cannot afford to be complacent.  We can’t afford to be tired or frustrated.  We don’t have time for that.  It is time to get to work.  So let me ask you one final question:  Are you in? (Applause.)  No, really, are you in?  Because I am.  (Applause.) I am in.  And I’m going to work my tail off to make sure that we keep this country on the right track.  And I hope all of you are fired up and you’re ready to go.  You’re ready to roll up your sleeves and work harder than ever before.  We’re going to need you every single step of the way.

        Are you in?  (Applause.)  Thank you all.  God bless.  (Applause.)

END 6:39 P.M. EDT

The White House

Office of the Vice President

Readout of Vice President Biden's Meeting with Prime Minister Luksic of Montenegro

Vice President Biden welcomed Prime Minister of Montenegro Igor Luksic to the White House today. The two discussed issues of mutual interest in our strong bilateral relationship. The Vice President affirmed U.S. support for Montenegro’s NATO and European Union aspirations and commended Prime Minister Luksic on the country’s progress along these paths. The Vice President noted U.S. interest in seeing Montenegro continue to pursue the political and economic reforms that can ensure good governance and the rule of law, and that will bring the country closer to its people’s goal of a prosperous and democratic European state. Vice President Biden also expressed our appreciation for Montenegro’s contributions to the International Security Assistance Force in Afghanistan, and its participation with the United States and other nations in the Open Government Partnership, which seeks to enhance government transparency and accountability around the world.

The White House

Office of the Vice President

Vice President Biden to Travel to Greece, Turkey

Vice President Joe Biden will travel to Greece and Turkey in early December. In Athens, the Vice President will continue our close dialogue and cooperation with the Government of Greece. In Istanbul, the Vice President will participate in the second Global Entrepreneurship Summit, to be hosted by Prime Minister Erdogan. The Summit continues the work of the Presidential Summit on Entrepreneurship hosted by President Obama in Washington in April 2010, to promote entrepreneurship and facilitate innovation and private enterprise. In Ankara, the Vice President will discuss the broad agenda of cooperation between the United States and Turkey. Additional details about the Vice President’s trip will be forthcoming.

The White House

Office of the Vice President

Readout of Vice President Biden's Meeting with First Deputy Prime Minister Shuvalov of Russia

Vice President Biden welcomed First Deputy Prime Minister of Russia Igor Shuvalov to the White House today.  The two discussed United States-Russian relations and Russia’s accession to the World Trade Organization.  They agreed on the importance of continuing to strengthen our bilateral relations in a way that promotes the security and prosperity of both countries.  The Vice President affirmed U.S. support for Russia’s accession to the WTO and commended Deputy Prime Minister Shuvalov on Russia’s significant progress in the accession process.   In this regard, the Vice President encouraged the successful conclusion of ongoing talks between Russia and Georgia with respect to Russia’s WTO accession.

The White House

Office of the Vice President

Remarks by Dr. Jill Biden at the Washington D.C. Screening of the Movie "FIVE"

Ronald Reagan Building & International Trade Center Amphitheater
Washington, D.C.
October 3, 2011

As Prepared for Delivery

Thank you, Jennifer and Kristin, for your kind words – and for your leadership on this issue.

And thank you to everyone here tonight who is working hard to raise awareness about breast cancer prevention and the desperate need for a cure.

Aren’t we all here tonight because this is personal?

I look across the room and know you agree – far too many of us have lost a loved one to this disease – or seen a neighbor or a colleague endure painful treatments or a long battle with breast cancer.

It’s personal.

My personal involvement in the fight against breast cancer started almost 20 years ago after several of my friends were diagnosed with the disease.  One of those friends lost her battle and I saw then just what a ruthless adversary breast cancer could be. 

We know that early detection can make all the difference.  And I am proud to be a part of an Administration that is working hard to ensure that affordable and accessible preventive care is a reality.

The President and the Vice President fought to enact a health reform law that makes preventive services like mammograms free for women across the country.

And thanks to the law, today more than 65 million women with private health insurance and more than 24 million with Medicare can get a mammogram without paying an extra penny out of their own pocket.

That’s a great benefit. But we’re all here because we know how important it is for women to use these benefits, take action and defeat this disease.

This afternoon, Secretary of Health and Human Services Kathleen Sebelius, Jennifer and I toured a state-of-the-art breast health center at INOVA hospital in Northern Virginia.  We met with committed health professionals as well as with women who shared personal stories about their battles with breast cancer. 

There is no question that we have a lot of work ahead of us – but I will say that we were all inspired and hopeful after the visit.

I commend tonight’s organizers for creating a film that gives voice to the millions of people who have been touched by this disease.  Increasing awareness of breast cancer and of the importance of early detection is absolutely critical. 

Each of us here is bound by our commitment to a future where these battles are a distant memory.  Each of us is adding our voice to the fight.  And together we will win this struggle.  

So, thank you for the invitation to join you tonight and keep up the fight! 

The White House

Office of the Vice President

Readout of Vice President Biden's Meeting with Prime Minister Al-Sabah of Kuwait

Vice President Biden met today with Prime Minister Nasir Al-Muhammad Al-Ahmad Al-Sabah of Kuwait at the White House.  They discussed a range of regional, political and security matters, including the changes underway in the region as a result of the Arab Spring, and the importance of resolving outstanding issues between Kuwait and Iraq.  Noting that this year marks the 20th anniversary of the liberation of Kuwait, the Prime Minister and Vice President stressed the enduring ties between our two countries, and expressed their appreciation for the strength of the bilateral relationship.  The Vice President also reaffirmed the U.S. commitment to the security of the region and of our partners.

The White House

Office of the Vice President

Statement by Vice President Biden on the Passing of Professor Wangari Maathai

I was honored to meet Professor Wangari Maathai in Nairobi just over a year ago, and like millions of others was saddened to learn today of her passing. History will rightly record her most celebrated accomplishments, including that she was the first African woman to win the Nobel Peace Prize. But her contributions to her home continent—and to our shared humanity—run far deeper than accolades can reflect. From its founding in her native Kenya 34 years ago, her Green Belt Movement spread like the roots of the 40 million trees it planted, making her a world-leading advocate not just for conservation, but for democracy, the rights of women and many other important causes. Working across disciplines and national boundaries led her to identify prescient and groundbreaking connections—for example between environmental degradation and poverty—that reoriented the work of policymakers, development experts and human rights activists, alike. When she found her government too unresponsive to the issues she championed, she ran for political office, and won. Her tireless work on behalf of society’s least privileged meant she often ran afoul of those in power, leading to imprisonment and financial hardship.  But through it all, Wangari Maathai remained, as the title of her autobiography aptly put it, “unbowed.” “We continue to be restless,” she wrote in that book, “If we really carry the burden, we are driven to action. We cannot tire or give up.” Worthy advice for those who will carry on her work.

The White House

Office of the Vice President

Remarks by the First Lady at the National Science Foundation Family-Friendly Policy Rollout

East Room

4:06 P.M. EDT

        MRS. OBAMA:  Thank you so much.  (Applause.)  Everyone, please be seated.  Let me welcome you all to the White House.  And again, thank you, Michelle, for that very kind and inspirational story and introduction.  We are all so proud of you.  Let's give Michelle -- (applause.)  And I know your family is watching, so congratulations.    

        I also want to thank Acting Secretary of Commerce Becky Blank, who I know had to leave, but we want to thank her.  And we have Congressman Chaka Fattah, who is joining us today.  Congressman, it's good to have you.  

        Now, it is Michelle -- and students like her -- they are the reason why we’re here today.  Now, more than ever, we can’t afford to throw barriers in front of someone who had the hunger to be the first in her family to go to college; someone who worked full-time to put herself through school while keeping up with her younger brothers and sisters; someone who is proving the doubters wrong every single day.  This country simply can’t afford to miss out on someone like that.  And fortunately, in Michelle's case, we didn’t.

        So today is also about helping every little girl in this country believe that she can be the next Michelle Del Rio.  Right?  (Laughter.)  It’s about showing every child that a scientist isn’t just something you hear about in biology class, that a doctor isn’t someone you visit when you’re sick.  Instead, young people -- particularly our girls -- need to understand that doctors and scientists are something that anyone can become, no matter how much money your family has, no matter where you come from or whether you’re a man or a woman.  And that message is more important than ever in today’s world.  

        As my husband has said again and again, in order to meet the challenges of the next century, we have got to strengthen our role as the world’s engine of scientific discovery and technological advancement.  We need to educate the scientists who will make the next big discoveries that will fuel our economy.  We need the highly skilled leaders who can teach in our classrooms, run our laboratories, and power our industries for decades to come.  

        And if we’re going to out-innovate and out-educate the rest of the world, then we have to open doors to everyone.  We can't afford to leave anyone out.  We need all hands on deck.  And that means clearing hurdles for women and girls as they navigate careers in science, technology, engineering and math.  

        And it starts with lighting the spark for science and math in elementary school and grade school.  We talk about this all the time.  I know for me, I'm a lawyer because I was bad at these subjects.  (Laughter.)  All lawyers in the room, you know it's true.  We can't add and subtract, so we argue.  (Laughter.)  

        And so encouraging girls early not to lose heart in those fields, and encouraging them through high school is important.  But it also means making sure that these young women can keep pursuing their dreams in college and beyond.  

        And we know that as people are building a career -- as Michelle is -- they’re also working on building their families.  And so, often, it’s working women who struggle to juggle their careers while caring for young children or an aging parent.  That means it’s tougher for them to rise to positions of leadership. It means that the highest rungs of the career ladder are sometimes out of reach.  

        And too often in STEM fields, it means giving up on those careers entirely.  But if we take some practical, common-sense steps, we can keep these women in the STEM pipeline where we so desperately need them.  

        And that is why I am so excited about this effort from the National Science Foundation.  The folks at the NSF understand that you shouldn’t be penalized or lose a chance to advance in your career because you are taking care of a new child or a mom or dad who's gotten sick.  

        This is another way that my husband's administration is leading by example on issues like these.  We all know that when you take steps to make life easier for working parents, it’s a win for everyone.  Workplace flexibility policies can increase worker productivity.  It can decrease turnover rates.  It can reduce absenteeism.  It can attract the best workers, and it can help those workers keep their jobs.

        And that’s why we’ve been working so hard to promote things like teleworking in the government, to support things like family and medical leave at the state level, and to launch a pilot program that evaluates workers on the quality of the work that they produce, not when or where they produce it.

        And it’s why we’ve been out there working with businesses all around the country, encouraging them to share best practices around workplace flexibility and promoting the efforts of companies that are taking this issue on.  

        And we’re finding that more and more businesses are realizing that this is not only helpful to their workers but it also helps their bottom line.

        And that’s really the final point I will make here this afternoon.  Some may think that during difficult economic times, flexible policies like these are the last thing that we should be thinking about.  But the fact is, is that in this environment, flexible policies become more important for both workers and employers.  When folks are struggling to make ends meet, when they are taking on extra jobs or they're working longer hours, when every day is a high-wire act and the checkbook is balanced on the thinnest edge, no one should be forced to choose between caring for their family and losing their job.  No employer should lose a quality employee just because life happens.  And life is happening to so many people throughout this country these days.  

        And our country shouldn’t lose out on its most promising talent because the career path is untenable.  So we have got to do everything we can to keep fueling this country’s engine of innovation and discovery.  We’ve got to do everything we can to keep the doors open for women like Michelle and girls all across our country who want to be standing right in her shoes and will do whatever it takes to get there, if only we lend a hand.  

        So I want to say thank you all for being here.  I want to thank the NSF for stepping up and leading the way.  This is a tremendous statement and our hope is that other companies who are watching this will see this as another reason to follow suit.  

        So with that, I want to turn it back over to Dr. Suresh, who’s going to get the panel started in just a moment.  And before I leave I'll just come down and shake a few hands.  

        So, you all, thank you so much.  (Applause.)

END 4:16 P.M. EDT

The White House

Office of the Vice President

Statement from Vice President Biden on Protecting Taxpayer Dollars from Excess Spending and Waste

Last week, I held a Cabinet meeting where I directed agency heads to do more to cut waste in their departments. Today, we saw reports of excessive spending on catering for government conferences. These reports are troubling and reinforce why the President and I launched the Campaign to Cut Waste, a government-wide initiative to reduce spending by making government more effective and more efficient.

Today, at the President’s direction, Office of Management and Budget (OMB) Director Jack Lew directed all agency heads to conduct a thorough review of how they are spending taxpayer dollars on conferences. As this review is underway, all conference-related activities and expenses will have to be signed off on by the Deputy Secretary or an equivalent  chief operating officer of each agency. That way, those at the very top will have to account for these expenses.

I will then reconvene all agency heads at the next Campaign to Cut Waste Cabinet meeting in December, and ask each and every one of them what they are doing to get on top of conference-related expenses and cut waste in this area and in other parts of their operations.

Every day, middle-class families are making tough choices to make ends meet. It is our responsibility to make sure that their taxpayer dollars are not wasted and instead are used to provide the services that Americans rely on and make our economy stronger and our Nation more secure. 

The White House

Office of the Vice President

In Ohio, Vice President Biden Discusses Importance of American Jobs Act for Small Businesses, Announces $20 Billion Commitment to Increase Small Business Lending

Three-year commitment by 13 major banks will help increase lending to small businesses in underserved communities

WASHINGTON – Speaking at Wrap Tite, Inc. – a small business in Solon, Ohio – Vice President Biden and Small Business Administration (SBA) Administrator Karen Mills today urged Congress to pass the American Jobs Act. The American Jobs Act is an important step to help small businesses in Ohio and across the country continue to grow and hire more workers. Vice President Biden and Administrator Mills also announced commitments by 13 private lenders, including many of the largest banks in the country, to increase lending for small businesses by a combined $20 billion over the next three years.

Thanks to a recent $1.5 million SBA-supported loan, Wrap Tite – a manufacturer and distributer of stretch wrap and other packing and shipping products – was able to purchase and renovate a new facility in Solon and hire five new workers. The new small business lending commitments announced today, which represent an increase of 10% or more beyond the current levels of lending at many of the participating banks, mean more small businesses like Wrap Tite will have access to the capital they need to help grow the nation’s economy at the local level.

“Small businesses like Wrap Tite are the real engines of our economy, which is why Congress should cut their taxes and put money back in the pockets of their customers by passing the American Jobs Act right away,” Vice President Biden said. “The only way we’re going to turn the vicious economic cycle we’ve been in into a virtuous one is by cutting taxes on our small businesses and making sure they can get the loans they need to grow and hire more workers.”

“We know that many small businesses, particularly in traditionally underserved communities, still face challenges in accessing the capital they need to buy inventory, take on that next new order and hire new workers,” Administrator Mills said. “These commitments by our lending partners leverage both commercial and government programs that work and will provide billions of capital to help small businesses all across the country grow and create jobs, and drive local economic growth.”

Vice President Biden also highlighted other key ways the American Jobs Act will help small businesses across the country grow and hire, including significant tax cuts:

  • Every single business would see its payroll tax cut in half for the first $5 million in wages.  If a small business has 10 workers on payroll making a typical wage, this is a $15,000 tax break.
  • Small businesses growing their payrolls, like Wrap Tite, would get a full 6.2% payroll tax cut for every additional dollar they spend on hiring or increasing wages, covering the first $50 million of increased wages from the previous year.
  • Businesses would get tax credits for hiring unemployed veterans or long-term unemployed workers.
  • Businesses purchasing new equipment would be able to expense their investments through the end of next year.  Because Wrap Tite made a $250,000 investment in three new machines over the past year, they could already benefit from expensing provisions currently in place; the American Jobs Act would extend that tax relief through the end of 2012.

The Vice President concluded by pointing out that passing the American Jobs Act is about choices – whether Congress will choose to preserve tax loopholes for corporations and the wealthy or choose to pass new job-creating tax cuts and infrastructure investments.
 
“We can either keep 280,000 teachers in their classrooms, or we can preserve tax loopholes for oil and gas companies.  We can either keep cops and firefighters on the job, or we can keep giving corporate jet owners special tax breaks,” said Vice President Biden.

SBA offers government guarantees on loans to small businesses made by private lenders.  In Fiscal Year 2011, SBA has supported over $28 billion in small business lending.  The commitment from lenders today will build on that success and increase the flow of capital to small businesses throughout the country.

The following financial institutions were represented at the announcement:

Wells Fargo
Key Corp
Regions Financial Corporation
Huntington Bancshares Incorporated
M&T Bank Corporation
JP Morgan Chase & Company
Citizens Financial Group, Inc.
Citigroup
Bank of America Merrill Lynch
TD Bank
US Bank
PNC Bank NA.
Sun Trust Banks, Inc.