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Touting his administration’s new proposals on housing and education policy on Thursday, President Obama also said he had more work to do on both issues -- work that would require another four years in office.
The president today announced a $25 billion deal that requires the five biggest mortgage-lending banks to provide financial help to qualified homeowners and, in a separate speech, declared 10 states eligible for waivers from parts of the No Child Left Behind education law that measures school success.
Praising those 10 states for accepting the administration’s offer of NCLB waivers in exchange for “higher benchmarks for student achievement,” Obama also subtly reminded the audience that these new efforts will take years to implement -- well into what would be his second term, in fact.
“This is not a one-year project. This isn’t a two-year project. This is going to take some time,” he told a group of teachers and school superintendents in the East Room of the White House.
And while he praised the mortgage settlement, part of which funds remittance for improperly foreclosed-upon families, he added that his administration still needs to ensure that the banks fulfill the terms of the settlement, which could take up to three years -- again, the middle of his potential next term.
“We're going to make sure that the banks live up to their end of the bargain,” Obama said, speaking in the Eisenhower Executive Office Building. “If they don’t, we've set up an independent inspector, a monitor, that has the power to make sure they pay exactly what they agreed to pay, plus a penalty if they fail to act in accordance with this agreement.”
While he emphasized his administration’s leadership in the measures he announced today, Obama also urged for Congress to be his partner in future efforts, jabbing his frequent foil for not doing enough to further his priorities.
On the mortgage issue, Obama urged Congress to pass his plan to give more homeowners the option of refinancing their loans, which was announced last week.
“To build on this settlement, Congress still needs to send me the bill I've proposed that gives every responsible homeowner in America the chance to refinance their mortgage and save about $3,000 a year,” he said. “It's only going to happen if Congress musters the will to act.”
And Obama also blamed legislators for making him go it alone on education reform.
“In September, after waiting far too long for Congress to act, I announced that my administration would take steps to reform No Child Left Behind on our own,” he said, referring to his announcement last year that he would allow states to skirt some of the law’s mandates like full proficiency of all students in math and reading by 2014.
While he did give shout-outs to some members of Congress who supported his administration’s plans, Obama added, “We haven't been able to get the entire House and Senate to move on this.”
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Thank you Mr. President. Now let us start criminally prosecuting them one by one.
While interest rates are still low, it's also time for Congress to pass the President's proposed bill geared towards responsible borrowers: that will save them approx $3,000 per year on their mortgage payments & the chance to refinance.
I agree the criminal prosecutions need to happen, starting with Obama.
Obama and democrats have staged a war on our economy that has almost DOUBLED our debt, no budgets for THREE years, FUDGED the numbers about unemployment, inflation, and jobs"saved". All these people do is spend money we don't have (up to $1.40 spent for every dollar earned).
America has officially hit 100% of debt to GDP, that's in the same category as Greece, Portugal, and Ireland. If Obama is reelected, America's debt is on track to reach $24 TRILLION at the end of his second term and we WILL face a Greece type wall. Obama needs to be prosecuted and held accountable for his "economic terrorism".
Where did you hear this?
The President saved the US from falling into a Great Depression. We are looking good compared to Europe. He saved the Auto Industry, thousands of related industries and jobs. GOP folks like Romney wanted to let it fade away and die. GM is now number one in the world.
Thanks to the Affordable Care Act, 2.5 million young adults gained health insurance, 3.7Million private sector jobs were created and the most manufacturing jobs since the 1990's.
Meanwhile since 1985: The federal tax rate for the 400 wealthiest Americans dropped from 29 percent to 18 percent, with many of the most affluent and richest corporations in 2012 - paying low or no revenues to lift up our economy and pay of the deficit run up by the Bush Administration's unpaid wars.
Perhaps you would like to aim your arrows at those intrepid 400 Americans?
The President is turning our economy around without any support from GOP Leaders and congressionals who signed over to Norquist, who have fililbustered every measure for the last 3 years, and voted against 2 million jobs in the President's American Jobs Act 3 times - without debate.
GOP leaders swore NOT to help our economy recover, besides openly bragging, pledging to obstruct the President's attempts to lift us out of the biggest economic disaster since the 1930's.
99.9% of GOP congressionals and GOP officials at state and federals levels: have put the rule of Wall Street Lobbyist Norquist and the oligarchs that direct him - above their Oath of Office to this country, even as far as making decisions for the Supercommittee recently.
Let's say we start with prosecuting THEM.
you listen to too much msnbc propoganda, outhouse! obama led us from a moderate recession to the depresion we are currently in. obama has made everything much much worse - you should thank the Republicans for holding the line. Can you imagine how much worse things would be if obama and the democrats got all of their bad legislation passed?
We lost 8 million jobs at the end of Bush's term. The month the President was sworn in, we lost 750,000 jobs.
In the last quarter of Bush's term, we know now that the GDP went down to a shocking minus 8.9% (-8.9%).
By contrast, last month we created 257,000 jobs.
Did you see the news headlines last Friday, with all the stock markets up?
The unemployment figures this week are the lowest in 4 years, just announced on NPR.
Just the facts.
Ummm... Obama took steps on his own? This is passed legislation. How can he go it alone without usurping the Constitution? Ohhhhh... Executive orders... S'matter Mr. Obama, afraid of congress? Afraid your ideas won't be accepted? I wonder why.... Maybe it's because allowing some states to skirt the mandates in Math and Reading aren't a good idea... or is it you really want to dumb down American students?
wrong again outhouse - unemployment under Bush NEVER got above 7%. Your falling for obamas bullsh&t again. The fuzzy obama math this quarter doesnt count the 370000 people who no longer collect unemployment BUT STILL arent employed. Pull your head out of the sand outhouse - obama lies - you cant believe ANYTHING coming from the whitehouse. The market will always recover - despit what the dunce in chief does.
By contrast, last month we created 257,000 jobs.
Did you see the news headlines last Friday, with all the stock markets up?
The unemployment figures this week are the lowest in 4 years, just announced on NPR.
Just the facts.
It seems you missed some of the facts Backhouse.
Fact - in 2007, congress went all democrat. Things went to hell.
Fact - in 2011, The House went republican. Things are starting to improve.
I guess you forgot those two facts in your kissing up to Obama session.
right brian - so much of what obama "inherited" he got from his own democrat controlled congress - left wingers always convienently forget that
President Bush signed TARP in September/October 2008 because the Banks were crashing. If he had not, we would not have been able to use our VISA cards or pay our bills.
The last six months of his presidency saw the historic meltdown of the us economy and millions of jobs lost. The devastation of our economy is reflected in our GDP numbers as well as job numbers.
...................................................................................
G.D.P. is the market value of everything produced within America.
"...the overall downward revision was concentrated at the end of 2008 and the beginning of 2009, so that growth in:
2008:Q4 was revised to -8.9 percent from -6.8 percent and
2009:Q1 was revised to -6.7 percent from -4.9 percent.
What was already the deepest reported recession
since official quarterly estimates began in 1947, is now reported to have been significantly worse."
n.b. Our GDP in the 4th quarter of 2008 was first thought to be minus 6.8% (-6.8%), later revised to -8.9%.
@Backhouse - Those employment numbers are the "fudged" numbers I was referring to. From the Bureau of Labor Statistics the "official" number of unemployed is just under 13 Million. The UNOFFICIAL number is 23.1 Million from people who are underemployed or no longer looking. That is from the SAME BLS data. The labor market is approx. 140 Million workers, so, you do the math...
Just the facts, Maam.
dont annoy backhouse with facts or truth - like most obamaphiles - he doesnt care what the truth is as long as the lies favor obama
Folks,
Reality is right under your nose, and everyone else's.
There's a Disneyland in Orlando.
Have a good night.
ok Backhouse - hope to fence with you again - nite
I see Backhouse is doing the liberal shuffle right out the door. I guess he can't stand the heat of being challenged on his nonsense.
I get it all day long from the liberals and they keep on coming back for more... LOL
I'll fence with you again: When GOP Leaders, congressionals and Norquist/ALEC/Koch do something to improve our economy instead of blocking it, as they did for the last 3 years.
Under GOP rule: Your rights will continue to be demolished, your opportunity to advance will be gone. And when you fall -- there will be no safety net.
You will just be a number in their service. Unless you are in the 1% club.
Under GOP rule: Your rights will continue to be demolished, your opportunity to advance will be gone. And when you fall -- there will be no safety net.
You will just be a number in their service. Unless you are in the 1% club.
Blah, blah, blah, blah blah. The same old worn out lines. No credence to them at all, liberal talking points that have no basis in reality unless you are a liberal... These words are said in retaliation for calling Obama a marxist and a socialist... that's all. Nothing more, nothing less...
Do you think all the ops:
Have problems with reality and name-calling?
"robo signing" documents is a form of forgery. In some communities forgery is illegal. Using forged documents to transact business I would think constitutes fraud. Fraud is against the law is some communities. If any of the fraudulent documents are sent through the mail that would constitute mail fraud. If the telephone was involved in the fraudulent transactions that would constitute wire fraud. I would think that any bank personnel involved could be found guilty of criminal activity and would be subject to jail time. I would think that someone who lost their home due to such illegal activities would have grounds to sue in civil court and besides recovering actual damages may also be awarded quite a bit in punitive damages. It seems that the primary purpose of this mortgage settlement is to protect the banks from criminal prosecution and to cheat dispossesed home owners of substantial awards that could be gained through civil litigation. This is just an uninformed opinion since I personally have no legal expertise what so ever. I do not think that the federal government should be protecting banks when such illegal activity is involved. Maybe some sort of class action law suite in in order.
Holy Cow -- To the right-wing riff raff in here, this ain't CPAC. Go there for your Hate Fest. And know one knows the "low-information voter shuffle" like Brianb-999431.
The rest of us are trying to have a meaningful conversation in here. I'd much rather see posts about solutions instead of unfounded criticism. Please tell us all the wonderful plans the Teapublicans have to create jobs, to improve the economy, to fix our broken health care system, to restore the American Dream for the middle class -- WHAT? Since you and your pitiful Party have nothing to offer, you just complain. Enough!
Fine, let's use underemployment numbers only all of a sudden. They are reported every single month. Nothing is being hidden. Underemployment in February 2009 started at 15.1%, it is 15.1% now. Let's see what happens in the coming months and only reelect Obama if he can reduce it from 15.1 to 15.0 over the course of the next year.
Else we should vote for Clinton.
Also, things didn't "improve" because Republicans took the house. The only thing that depressed the economylast year was their mess of a debt ceiling debacle.
They did NOTHING to improve the economy, and they sure as hell did things that wiped out consumer and investor confidence. There is no arguing that. Ask anyone if that debt ceiling mess made them more willing to spend and invest. Ask anyone if ANYTHING they did made them more confident.
Disneyland is in California
Disney World is in Florida.
Obama is in his best reelection position in years because of the GOP’s haplessness. To attack Romney is to attack a weak candidate, someone that has no core for leadership and that has such an arrogant attitude that he probably believes he is president already. Romney’s litany of flip-flops on just about every significant issue important to voters provides the president’s supporters with a wide avenue with which to uncover the truth about Mr. Romney. How is Mitt supposed to be a true leader making real, nation-defining decisions when he cannot even articulate a coherent position in the GOP primary? http://www.sunstateactivist.org
Romney articulates his position just fine, it's the MSM that likes to crucify him by taking his one line "gaffes" out of context to try to increase their news ratings. Romney has a plan, and it's the best one out there.
http://mittromney.com/blogs/mitts-view/2011/09/believe-america-mitt-romneys-plan-jobs-and-economic-growth
Romney/Rubio 2012
A dream team to end the national nightmare delivered by Barack Obama!
Why didn't FR post that a nut ball from the Colorado Democratic Party got taken away by the Secret Service at Romney's event? Can you think if it was a Republican Nut ball?? All hell would break lose!! Good reporting MSNBC, at least you keep your sheep in the dark.
A day goes by without a Teanut being dragged away?
Not on here!
Republicans have decided that the Vatican is more important that the Constitution. They have declared another war on women's health care. I'll bet women have an aversion to unplanned parenthood and cervical cancer, whatever their religious beliefs. A lot of Republicans may have to buy sex on the open market or get vasectomies, just to be fair.
And of course they pay for Viagra! No, to contraception, yes, to Viagra!
Catholic church (most churches) are run by old white males!
How sad that even on basic issues like education and the housing crisis Congress can't give up its petty partisanship long enough to help their fellow citizens. No wonder the approval rating of Congress just hit 10%.
The main reason education and housing is so screwed up is because the federal government got involved in the first place. The Department of Education, created by President Carter, has done more to undermine the education of Americans and anything else. Let the States and local school districts decide what's best in educating their students. One size fits all that the federal government wants is a waste of money.
The federal government should stay out of the housing market, if the banks did something wrong then prosecute them in criminal court. Let the foreclosure process run it's course as it has in several housing crisis before this one. Banks do not make money foreclosing on homes, banks make money by lending money, (just like the Chinese and Japanese are making a lot of money lending the U.S. billions).
This article brings to mind an aspect of my decision-making process in regards to my choice for president (still very undecided) - that being the issue of continuity. Mr. Obama, in my opinion, has not been as great as some put forth, and not nearly as bad as others paint him. The fact is the president is not king and the chief executive's apparent performance is intimately tied the how the other branches of government conduct themselves.
A president in his first term is judged to an unfairly harsh standard, especially when times are tough. Four years is hardly enough time to learn such a complex job - a second term is when a president can shine, or truly crash and burn. He becomes his predecessor in his second term; inherits his own failures and sucesses.
I think it is good Mr. Obama is setting up items, that for their probable success, would make it desirable for him to be elected for a second term. If I am to vote for him he must demonstrate to me an ability and willingness to learn from his mistakes and shortcomings. The continuity and stability of a second term, I believe could be beneficial. The GOP at this time is just not showing me a viable replacement.
Acceptable economic recovery is going to take at least another presidential term, if not longer. There are no quick fixes, and I have no interest in campaigns that promise them.
That being said -
I would be interested to see what the requirements are for receiving a piece of the $25 billion proposed. I have to agree with sfcret here that a better solution might be specific prosecution of definable wrong-doing. Not sure I am comfortable with the government arbitrarily ordering banks to pay out, unless they are doing so in a court-ordered judgement against them. Forclosures are often the fault of the buyer, not the bank.
and.......
Please reform or get rid of No Child Left Behind!
Mark --
A realist who uses reason. ; )
Mark,
Well said. :)
Mark - Well thought out post... the only disagreement I have with you is based on Obama's experience to expedite the recovery. He simply doesn't have any... and it appears he's not learning it well either.
I use as my example the late 70's misery index. When Reagan was elected, the economic conditions didn't take his first full term to start showing signs of improvement and he was bucking a complete democrat congress to boot. That recovery was somewhat faster... but I attribute that to the fact that Reagan was a governor of a pretty huge state with a very large economy on it's own. Obama simply doesn't have any experience like that where he can draw from and shape our economy. I'm really not in the mood to give Obama a break on this issue. My job conditions over the past 4 years have not been ideal, and I have 24 years experience in my chosen field. I went through 2 unemployment sessions that were very tough. I'm facing another very shortly.
If anyone can't admit that Obama simply doesn't have the experience to run this country to advance us, I do not know what they are looking at about him that makes him so attractive.
President Obama is very Presidetial, thinks on his feet, speaks clearly, understands language usage, and will destroy the "Romulian Romney" in any potlical debate. The President is going after the "Economics Of Evil" that define the Big Banks. The President Of The United States is doing his job to protect ALL Ameicans, and defending those who can not defend themselves. President Obama is fair for all economic policies that he is trying to pass in Congress. The President is smart too take actions against the greed of the Big Wall Street Bankers, and their Morgage Polticies of "Economic Greed." Go get them all Mr. President!!
The President is very aware that the GOP/RNC are intellectually challenged, socially sadistic, economically greedy, mentally ill, and culturally corrupt. Now the President has been watching the traveling GOP Clown Show, and is very aware of their "Crazy Conservative Crap." That is fact!
note the hatespeech from this liberal bigot
Note the hypocrisy from PC/NOT.
pc/not always speaks truth - NEVER hypocritical
mindful like HR4646? check it out
Obama has been mindful of reelection since Jan 21, 2010. Obama has never quit campaigning and has allowed his ego to over take his thinking. He was the most uniformed person to ever be elected to the Office of President. He fails to recognize that there are 3 branches in the Federal Government. He belittles the Supreme Court to their face in a State of the Union Speech (knowing they can not answer back nor can they boo or clap or give a standing ovation). He constantly whines and blames everyone and everything because he can't govern. (European crisis, Japanese Tsunami, the congress, the weather and uprisings in the Middle East.) He has been the most divisive President and has been a leading voice in class warfare. He feels he is entitled to everything he wants and if he doesn't get it he pouts and whines.
The guy who wants to prosecute the President --that's PRESIDENT Obama you rude person--for the debt needs to recall that it is the BUSH tax cuts that put usin this hole in the first place. Follow this with refusal of the House to make any meaningful revenue improvements (taxes) and we are further in the hole. Our taxes are at the lowest in 50 years. Part of Greece's problem lay with failure to collect its legal taxes and not follow doctors, lawyers, and other professionals who were able to declare absurdly small incomes. We WILL follow them if we don't get more realistic about raising the money to pay our bills. We desperately need to support the President with a new Congress for his next term.
what put us in this hole is the sub prime loan crisis - and fannie mae was the most responsible entity and fannie mae is 100% a democrat entity. As standard and poore stated after our downgrade(thank you obama ) was the US's problem is SPENDING not revenue. opa unfortunatly is a all too common example of the uninformed ignorant obma supporter
Didn't Hussein already implement something to help stop foreclosures? And it only helped like 2% to 3% of people in trouble with their mortgages??? It didn't work then; what makes him think he should have more money to try again? FAILURE.
understand that this is yet another obama re-election stunt. Fiscally unsound - will foul things up even further.obamas ONLY concern is the election - party before country as usual.Getting rid of this prancing fraud of a president cant come soon enough
lets do what romney says and let the foreclosure system play out. Another 1 or 2 million homes back on the market and prices will continue to drop. Just give it another three years and we will be at the end of the cycle and another couple of million homeless.
Priceless for the party of family values
or even better paxil - maybe the government should just pay off everyones morgage right?
paxil, whatever Hussein did with Making Homes Affordable DIDN'T WORK. I agree with PC/NOT that it is a re-election STUNT. Hussein is getting desperate. Sounds like you are, too.
Obama doesn't need to pull any stunts to beat any of those clowns the GOP is throwing up against him. What a joke!
gt - the only thing the GOP have to throw up against obama is his own record of failure
Define "failure" and then define "Republican economic policies."
Ill educate you dante - Ill define obamas failures. obama put the nation in the deepest debt in its history, obama pushed through an unnessessary and unwanted piece of healthcare legislation, obama lied about EVER single aspect of said healthcare plan, obama had to bribe members of his own party to get his healthcare bill passed, obama lied to get the debt ceiling raised and got our standard and poor credit rating downgraded for the fist time in US history, obama took credit for "getting bin ladin when it was actually the efforts put forth by Bush which led OUR MILITARY to him. Clear things up dante?
PC/NOT,
You are clearly delusional, turn off FAUX, and pay attention to REAL FACTS!
PC/NOT, well what you just posted, while inaccurate, didn't even constitute failures. Obama failed because he got Bin Laden? Obama failed because he pushed through healthcare legislation? Obama failed because he got the debt ceiling raised? All those are successes...
A failure would be failing to kill Bin Laden or letting Bin Laden blow up the Pentagon. A failure would be not passing healthcare legislation. A failure would be not raising the debt ceiling and defaulting.
By the way, S&P cited the willingness of Congress to have the US default as their primary reason for lowering the rating. If it wasn't raised, our credit rating would be non existent. Also if Bush was so good at catching him, he could have done it in his own administration. Strange of Bush to leave the vast majority of Al Quaida leadership alive only to have Obama mop them up if fast order.
PC... failure!
Copy
Bush prepares to sign an $87.5 billion supplemental spending bill for Iraq and Afghanistan,
During the 2000 presidential campaign Bush and his advisers had made it clear that they favored great-power realism over idealistic notions such as nation building or democracy promotion. And as expected, the incoming Bush team quickly busied itself with casting aside many policies closely associated with President Bill Clinton.
http://www.youtube.com/watch?v=Yga7TlsA-1A
blah blah blah Bush? still? at what point does this become obamas economy???? you people act like he's just arrived. The mess we are in now is 100% obamas
In 40 to 50 years...after The President has cleaned up this mess.
you mean the president that cleans up obamas mess?
Oh, but PC gives "credit" to Bush for Obama taking out Bin Laden? Please...typical right wing hypocrisy!
Our government was Fanny and Freddie...amen
THE PRESIDENT: Thank you all. Thank you for coming. Thanks for the warm welcome. It's great to be back at the Department of Housing and Urban Development. This is not my first time here, nor will it be my last. (Applause.) I am here today because we are taking action to bring many thousands of Americans closer to owning a home. Our government is supporting homeownership because it is good for America, it is good for our families, it is good for our economy.
http://www.youtube.com/watch?v=Yga7TlsA-1A
a 40 or 50 year loan as well. Sub Prime Lending it it's worst!
Today obama made a deal with the bankers, their stocks increased thereafter.
"I believe that banking institutions are more dangerous to our liberties than standing armies.
If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around the banks will deprive the people of all property - until their children wake-up homeless on the continent their fathers conquered."
Thomas Jefferson1802
Well.....
1802 is not 2012.
but I love it what you posted.
"The tree of liberty must be refreshed from time to time with the blood of patriots and tyrants." -- Thomas Jefferson
and we have both.
Tyrants...Catholic church. In my opinion
Frankly, in my circles our opinion is ...and has been for perhaps 15 years is.
We're on our own. Figure it out.
However, ???
I get these "Possible spam" pop ups. Grrrrr I have to decode what appears to be a crayon in a dog paw writing and have to decipher it before I can post.
Slick willie had a few good ideas, too bad his little head took control..sort of like JFK.
Who's willie, Willard as in Romney?
also...how is the best way to get new posts here? I have been refreshing but that seems archaic. Any better way to do this?
Na, we're on the negative merit plan........when your stuff doesn't appeal to the moderator you're provided a longer spin cycle.......democracy in action
Moderator pimps for GE............I write a lot of bad P on GE
Got it.
One thing I neglected to add to something above was
in 2003
Our government supported Fanny and Freddie for this
THE PRESIDENT: Thank you all. Thank you for coming. Thanks for the warm welcome. It's great to be back at the Department of Housing and Urban Development. This is not my first time here, nor will it be my last. (Applause.) I am here today because we are taking action to bring many thousands of Americans closer to owning a home. Our government is supporting homeownership because it is good for America, it is good for our families, it is good for our economy.
It was not President Obama
Obama needs another 4 years just to clean the mess. If only he'd been elected president during a prosperous and peaceful time. At this rate we're looking at another Clinton-to-Bushesque transition in 2016 where American voters declare that they have had enough of the good times for one generation and we should do the opposite of everything that works.
They ALL join the club................ALL Greed consumes maybe ALL
and we're fooled into thinking we decide, fight, take sides, argue with friends, family. When in fact we're being laughed at and really have no dog in this fight.