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Watch Obama’s Historic “Make-Or-Break” Osawatomie Speech – Full Text And Video Part III

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This is Part III. Please click to continue to Part II.

 

But in order to structurally close the deficit, get our fiscal house in order, we have to decide what our priorities are. Now, most immediately, short term, we need to extend a payroll tax cut that’s set to expire at the end of this month. (Applause.) If we don’t do that, 160 million Americans, including most of the people here, will see their taxes go up by an average of $1,000 starting in January and it would badly weaken our recovery. That’s the short term.

In the long term, we have to rethink our tax system more fundamentally. We have to ask ourselves: Do we want to make the investments we need in things like education and research and high-tech manufacturing — all those things that helped make us an economic superpower? Or do we want to keep in place the tax breaks for the wealthiest Americans in our country? Because we can’t afford to do both. That is not politics. That’s just math. (Laughter and applause.)

Now, so far, most of my Republican friends in Washington have refused under any circumstance to ask the wealthiest Americans to go to the same tax rate they were paying when Bill Clinton was president. So let’s just do a trip down memory lane here.

Keep in mind, when President Clinton first proposed these tax increases, folks in Congress predicted they would kill jobs and lead to another recession. Instead, our economy created nearly 23 million jobs and we eliminated the deficit. (Applause.) Today, the wealthiest Americans are paying the lowest taxes in over half a century. This isn’t like in the early ‘50s, when the top tax rate was over 90 percent. This isn’t even like the early ‘80s, when the top tax rate was about 70 percent. Under President Clinton, the top rate was only about 39 percent. Today, thanks to loopholes and shelters, a quarter of all millionaires now pay lower tax rates than millions of you, millions of middle-class families. Some billionaires have a tax rate as low as 1 percent. One percent.

That is the height of unfairness. It is wrong. (Applause.) It’s wrong that in the United States of America, a teacher or a nurse or a construction worker, maybe earns $50,000 a year, should pay a higher tax rate than somebody raking in $50 million. (Applause.) It’s wrong for Warren Buffett’s secretary to pay a higher tax rate than Warren Buffett. (Applause.) And by the way, Warren Buffett agrees with me. (Laughter.) So do most Americans — Democrats, independents and Republicans. And I know that many of our wealthiest citizens would agree to contribute a little more if it meant reducing the deficit and strengthening the economy that made their success possible.

This isn’t about class warfare. This is about the nation’s welfare. It’s about making choices that benefit not just the people who’ve done fantastically well over the last few decades, but that benefits the middle class, and those fighting to get into the middle class, and the economy as a whole.

Finally, a strong middle class can only exist in an economy where everyone plays by the same rules, from Wall Street to Main Street. (Applause.) As infuriating as it was for all of us, we rescued our major banks from collapse, not only because a full-blown financial meltdown would have sent us into a second Depression, but because we need a strong, healthy financial sector in this country.

But part of the deal was that we wouldn’t go back to business as usual. And that’s why last year we put in place new rules of the road that refocus the financial sector on what should be their core purpose: getting capital to the entrepreneurs with the best ideas, and financing millions of families who want to buy a home or send their kids to college.

Now, we’re not all the way there yet, and the banks are fighting us every inch of the way. But already, some of these reforms are being implemented.

If you’re a big bank or risky financial institution, you now have to write out a “living will” that details exactly how you’ll pay the bills if you fail, so that taxpayers are never again on the hook for Wall Street’s mistakes. (Applause.) There are also limits on the size of banks and new abilities for regulators to dismantle a firm that is going under. The new law bans banks from making risky bets with their customers’ deposits, and it takes away big bonuses and paydays from failed CEOs, while giving shareholders a say on executive salaries.

This is the law that we passed. We are in the process of implementing it now. All of this is being put in place as we speak. Now, unless you’re a financial institution whose business model is built on breaking the law, cheating consumers and making risky bets that could damage the entire economy, you should have nothing to fear from these new rules.

Some of you may know, my grandmother worked as a banker for most of her life — worked her way up, started as a secretary, ended up being a vice president of a bank. And I know from her, and I know from all the people that I’ve come in contact with, that the vast majority of bankers and financial service professionals, they want to do right by their customers. They want to have rules in place that don’t put them at a disadvantage for doing the right thing. And yet, Republicans in Congress are fighting as hard as they can to make sure that these rules aren’t enforced.

I’ll give you a specific example. For the first time in history, the reforms that we passed put in place a consumer watchdog who is charged with protecting everyday Americans from being taken advantage of by mortgage lenders or payday lenders or debt collectors. And the man we nominated for the post, Richard Cordray, is a former attorney general of Ohio who has the support of most attorney generals, both Democrat and Republican, throughout the country. Nobody claims he’s not qualified.

But the Republicans in the Senate refuse to confirm him for the job; they refuse to let him do his job. Why? Does anybody here think that the problem that led to our financial crisis was too much oversight of mortgage lenders or debt collectors?

AUDIENCE: No!

THE PRESIDENT: Of course not. Every day we go without a consumer watchdog is another day when a student, or a senior citizen, or a member of our Armed Forces — because they are very vulnerable to some of this stuff — could be tricked into a loan that they can’t afford — something that happens all the time. And the fact is that financial institutions have plenty of lobbyists looking out for their interests. Consumers deserve to have someone whose job it is to look out for them. (Applause.) And I intend to make sure they do. (Applause.) And I want you to hear me, Kansas: I will veto any effort to delay or defund or dismantle the new rules that we put in place. (Applause.)

We shouldn’t be weakening oversight and accountability. We should be strengthening oversight and accountability. I’ll give you another example. Too often, we’ve seen Wall Street firms violating major anti-fraud laws because the penalties are too weak and there’s no price for being a repeat offender. No more. I’ll be calling for legislation that makes those penalties count so that firms don’t see punishment for breaking the law as just the price of doing business. (Applause.)

The fact is this crisis has left a huge deficit of trust between Main Street and Wall Street. And major banks that were rescued by the taxpayers have an obligation to go the extra mile in helping to close that deficit of trust. At minimum, they should be remedying past mortgage abuses that led to the financial crisis. They should be working to keep responsible homeowners in their home. We’re going to keep pushing them to provide more time for unemployed homeowners to look for work without having to worry about immediately losing their house.

The big banks should increase access to refinancing opportunities to borrowers who haven’t yet benefited from historically low interest rates. And the big banks should recognize that precisely because these steps are in the interest of middle-class families and the broader economy, it will also be in the banks’ own long-term financial interest. What will be good for consumers over the long term will be good for the banks. (Applause.)

Investing in things like education that give everybody a chance to succeed. A tax code that makes sure everybody pays their fair share. And laws that make sure everybody follows the rules. That’s what will transform our economy. That’s what will grow our middle class again. In the end, rebuilding this economy based on fair play, a fair shot, and a fair share will require all of us to see that we have a stake in each other’s success. And it will require all of us to take some responsibility.

It will require parents to get more involved in their children’s education. It will require students to study harder. (Applause.) It will require some workers to start studying all over again. It will require greater responsibility from homeowners not to take out mortgages they can’t afford. They need to remember that if something seems too good to be true, it probably is.

It will require those of us in public service to make government more efficient and more effective, more consumer-friendly, more responsive to people’s needs. That’s why we’re cutting programs that we don’t need to pay for those we do. (Applause.) That’s why we’ve made hundreds of regulatory reforms that will save businesses billions of dollars. That’s why we’re not just throwing money at education, we’re challenging schools to come up with the most innovative reforms and the best results.

And it will require American business leaders to understand that their obligations don’t just end with their shareholders. Andy Grove, the legendary former CEO of Intel, put it best. He said, “There is another obligation I feel personally, given that everything I’ve achieved in my career, and a lot of what Intel has achieved…were made possible by a climate of democracy, an economic climate and investment climate provided by the United States.”

This broader obligation can take many forms. At a time when the cost of hiring workers in China is rising rapidly, it should mean more CEOs deciding that it’s time to bring jobs back to the United States — (applause) — not just because it’s good for business, but because it’s good for the country that made their business and their personal success possible. (Applause.)

I think about the Big Three auto companies who, during recent negotiations, agreed to create more jobs and cars here in America, and then decided to give bonuses not just to their executives, but to all their employees, so that everyone was invested in the company’s success. (Applause.)

I think about a company based in Warroad, Minnesota. It’s called Marvin Windows and Doors. During the recession, Marvin’s competitors closed dozens of plants, let hundreds of workers go. But Marvin’s did not lay off a single one of their 4,000 or so employees — not one. In fact, they’ve only laid off workers once in over a hundred years. Mr. Marvin’s grandfather even kept his eight employees during the Great Depression.

Now, at Marvin’s when times get tough, the workers agree to give up some perks and some pay, and so do the owners. As one owner said, “You can’t grow if you’re cutting your lifeblood — and that’s the skills and experience your workforce delivers.” (Applause.) For the CEO of Marvin’s, it’s about the community. He said, “These are people we went to school with. We go to church with them. We see them in the same restaurants. Indeed, a lot of us have married local girls and boys. We could be anywhere, but we are in Warroad.”

That’s how America was built. That’s why we’re the greatest nation on Earth. That’s what our greatest companies understand. Our success has never just been about survival of the fittest. It’s about building a nation where we’re all better off. We pull together. We pitch in. We do our part. We believe that hard work will pay off, that responsibility will be rewarded, and that our children will inherit a nation where those values live on. (Applause.)

And it is that belief that rallied thousands of Americans to Osawatomie — (applause) — maybe even some of your ancestors — on a rain-soaked day more than a century ago. By train, by wagon, on buggy, bicycle, on foot, they came to hear the vision of a man who loved this country and was determined to perfect it.

“We are all Americans,” Teddy Roosevelt told them that day. “Our common interests are as broad as the continent.” In the final years of his life, Roosevelt took that same message all across this country, from tiny Osawatomie to the heart of New York City, believing that no matter where he went, no matter who he was talking to, everybody would benefit from a country in which everyone gets a fair chance. (Applause.)

And well into our third century as a nation, we have grown and we’ve changed in many ways since Roosevelt’s time. The world is faster and the playing field is larger and the challenges are more complex. But what hasn’t changed — what can never change — are the values that got us this far. We still have a stake in each other’s success. We still believe that this should be a place where you can make it if you try. And we still believe, in the words of the man who called for a New Nationalism all those years ago, “The fundamental rule of our national life,” he said, “the rule which underlies all others — is that, on the whole, and in the long run, we shall go up or down together.” And I believe America is on the way up. (Applause.)

Thank you. God bless you. God bless the United States of America. (Applause.)

END
1:55 P.M. CST

 

This is Part III. Please click to continue to Part II.

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‘Flying Monkeys on a Mission for the Wicked Witch’: Raskin Rips Republicans Over Impeachment ‘Inquiry’

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2 hours ago

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September 28, 2023

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U.S. Rep. Jamie Raskin (D-MD), the Ranking Member of the Committee on Oversight and Accountability, blasted members of the House GOP at the opening of their first, televised, impeachment “inquiry” into President Joe Biden Thursday morning, declaring, “If the Republicans had a smoking gun or even a dripping water pistol, they would be presenting it today but they’ve got nothing on Joe Biden.”

Ranking Member Raskin noted he full House did not vote to hold an official impeachment inquiry, which he said violates the ruling of the Dept. of Justice’s Office of Legal Counsel (OLC).

Congressman Raskin, a former constitutional law professor who served as the lead prosecutor for the second impeachment of Donald Trump, told the Committee, “like flying monkeys on a mission for the Wicked Witch of the West, Trump’s followers in the House now carry his messages out to the world: shut down the government, shutdown the prosecutions. But the cultmaster has another command for his followers, which brings us here today.”

Raskin added that Republicans “don’t have the votes because dozens of Republicans recognize what a futile and absurd process this is. Now, the title of the hearing is ‘The basis for impeachment inquiry of President Joseph Biden,’ and yet they present us no basis at all today. Even after eight months of investigation.”

READ MORE: Poll Finds Majority Oppose Impeachment Inquiry as House GOP Kicks Off Hearings Two Days Before Likely Shutdown

“They’ve invited three witnesses to testify. Not one of them is an eyewitness to a presidential crime of any kind. Not one of them is a direct fact witness about any of the events related to Ukraine, and Burisma. Not one of them has participated in the eight months of investigation, in which our distinguished Chairman has publicly boasted that he received 100% of everything he asked for, and I quote, ‘every subpoena that I’ve signed as chairman of the House Oversight Committee, over the last five months, we’ve gotten 100% of what we’ve requested, whether it’s with the FBI, or with the banks, or with Treasury.'”

Raskin kicked off his remarks with remarks of Republicans attacking other Republicans for holding an “impeachment drive.”

“So let’s get it straight,” Raskin began. “We’re 62 hours away from shutting down the government of the United States of America. And Republicans are launching an impeachment drive based on a long debunked and discredited lie. No foreign enemy’s ever been able to shut down the government of the United States but now MAGA Republicans are about to do just that. But they don’t want to cut off public services to people and tonight, paychecks to more than a million service members, without first launching impeachment drive, even when they don’t have a shred of evidence against President Biden for an impeachable offense. You think I’m being harsh? Here’s what some Republicans have had to say over the last week about the actions of the Republicans, as they watch up close ‘the dysfunction caucus at work,’ in the words of our GOP colleague from Nebraska, Don Bacon, ‘clown show,’ ‘foolishness,’ ‘terribly misguided,’ ‘stupidity,’ ‘failure to lead,’ ‘lunatics,’ ‘disgraceful,’ .new low,’ ‘pathetic,’ ‘enabling Chairman Xi,’ ‘people that have serious issues,’ ‘those folks don’t have a plan,’ ‘show just how broken they are, and ‘individuals that just want to burn the whole place down.'”

“Now, if I said any of these things, they’d probably take my words down, but these are Republicans talking about Republicans. So let’s be clear. This isn’t partisan warfare America’s seeing today, it is chaotic infighting between Republicans vs. Republicans. It’s MAGA versus extreme MAGA, as if anybody in the real world could tell the difference between the two.”

“What a staggering failure of leadership. Speaker McCarthy’s invertebrate appeasement of the most fanatical elements of his conference now threatens the well-being of every American. Now some people think the members of the GOP caucus aren’t interested in anything logical. They just want to see the world burn, as Alfred Pennyworth put it in ‘The Dark Knight,’ but I see a method in the madness.”

READ MORE: ‘Poof’: White House Mocks Stunned Fox News Host as GOP’s Impeachment Case Evaporates on Live Air

“A week ago Donald Trump posted a comment saying that a government shutdown ‘is the last chance to deep fund these political prosecutions against me and other patriots.’ You get it? To delay justice Donald Trump would cut off paychecks to a couple million service members and federal workers and furlough more than a million workers and pay them later for having not worked. They would halt food assistance to millions of moms and kids and keep NIH in my district from enrolling any more patients in life and death clinical research trials. Trump’s convinced if you shut the government down his criminal prosecutions on 91 different felony and misdemeanor charges will be defunded in delayed long enough to keep him from having to go before a jury of his peers before the 2024 election.”

“On August 27, he posted this edict: ‘Either impeach the bum or fade into oblivion. They did it to us.’ Of course the standard for impeachment is not whether ‘they did it to us,’ but whether the President committed treason or bribery or other high crimes and misdemeanors. But the Constitution is irrelevant to them. What counts is what Donald Trump wants. As Republican Representative Ken Buck, a Freedom Caucus member, told CNN the other day, President Trump has gone on his social media accounts and said we should be impeaching President Biden. Kevin McCarthy said we have an impeachment inquiry. You draw the conclusion directly or indirectly. This impeachment inquiry was a result of President Trump’s pressure.”

“So we move from a Trump-ordered government shutdown to a Trump-ordered impeachment process, and yet back into reality-based world the majority sits completely empty-handed with no evidence of any presidential wrongdoing. No smoking gun, no gun, no smoke. In fact, we have had to slide awkwardly into a House impeachment process without the benefit of the floor vote that Speaker McCarthy insisted was absolutely imperative and necessary when Donald Trump was impeached.”

Watch the videos above or at this link.

READ MORE: ‘I Feel a Little Bit Dumber for What You Say’: The Nine Worst Moments of the GOP Presidential Debate

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Poll Finds Majority Oppose Impeachment Inquiry as House GOP Kicks Off Hearings Two Days Before Likely Shutdown

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4 hours ago

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September 28, 2023

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A just-released NBC News poll finds a solid majority of registered voters are opposed to House Republicans’ impeachment inquiry of President Joe Biden, which kicks off Thursday morning, just two days before House Republicans are likely to shut down the federal government.

“56% of registered voters say Congress should not hold hearings to start the process of removing Biden from office, while 39% say it should,” NBC News reports. “The House Oversight Committee is gathering for its first hearing in the inquiry, which Speaker Kevin McCarthy, R-Calif., announced two weeks ago to investigate Biden’s ties to his son Hunter’s business dealings, probing what McCarthy described as ‘allegations of abuse of power, obstruction and corruption.'”

Speaker Kevin McCarthy’s “own conference was divided over the impeachment inquiry, and so are voters — who are also, unsurprisingly, divided along party lines when it comes to proceedings aimed at removing Biden from office,” NBC News adds. “An overwhelming majority of Democrats (88%) oppose the hearings, while 73% of Republicans support them. Six in 10 independents oppose the hearings, and 29% say Congress should move forward with them.”

READ MORE: House GOP Shutdown Demands Include Gutting Billions From Dept. of Education, Costing Over 200,000 Teachers Their Jobs

The Congressional Integrity Project, a group of Democratic strategists, have published what it calls a “regularly updated rundown of Republican commentators, Members of Congress, and media personalities” who have indicated there is not sufficient evidence to initiate an impeachment inquiry against President Biden. It includes recent statements from Rep. Michael McCaul (R-TX), Rep. Ken Buck (R-CO), Rep. Darrell Issa (R-CA), Rep. Don Bacon (R-NE), Rep. Dave Joyce (R-OH), Rep. Dusty Johnson (R-SD), Rep. French Hill (R-AR), Senator Mitt Romney (R-UT), Senator Shelly Moore Capito (R-WV), and Rep. Mike Lawler (R-NY).

At midnight on Saturday the federal government will shut down, unless the House passes legislation to fund the government, the Senate passes the House’s legislation, and President Joe Biden signed it into law.

READ MORE: ‘I Feel a Little Bit Dumber for What You Say’: The Nine Worst Moments of the GOP Presidential Debate

The shutdown, which has yet to begin, may already have cost the American taxpayers possibly a billion dollars, well-known economist Justin Wolfers casually suggested:

“This week you and I are paying over a million federal employees over a billion dollars to put aside their regular work to plan for a pointless shutdown, and that shutdown will grind the government to a halt which will also cause untold disruption through the private sector.”

Earlier this week, House Speaker Emerita Nancy Pelosi said, “A MAGA shutdown drains billions of dollars from our economy. It says to our men and women in uniform — you’re not getting paid. To women and children depending on food assistance — you’re not eating. All 3 recent shutdowns were under REPUBLICAN House Speakers. Irresponsible.”

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‘I Feel a Little Bit Dumber for What You Say’: The Nine Worst Moments of the GOP Presidential Debate

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15 hours ago

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September 27, 2023

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The second Republican presidential debate was mired in in-fighting and personal attacks by the candidates,  a vow to wage physical war against Mexico, hate against LGBTQ people, an insistence the U.S. Constitution doesn’t actually mean what the words on the page say, and a fight over curtains.

Here are nine of the worst moments from Wednesday night’s debate.

The debate itself got off to a rough start right from the beginning.

Multiple times candidate cross-talk made it impossible for anyone to make a point, like this moment when nearly half the candidates talked over each other during a nearly two minute segment as the moderators struggled to take control.

READ MORE: ‘I Don’t Think So’: As GOP Debate Kicks Off Trump Teases Out the Chances of Any Candidate Becoming His Running Mate

Vivek Ramasway got into a heated argument with Nikki Haley, leading the former Trump UN Ambassador to tell him, “Honestly, every time I hear you, I feel a little bit dumber for what you say.”


Ramaswamy launched an attack on transgender children.

Moments after Ramaswamy attacked transgender children, so did Mike Pence, calling supporting transgender children’s rights “crazy.”

He promised “a federal ban on transgender chemical or surgical surgery anywhere in the country,” and said: “We’ve got to protect our kids from this radical gender ideology agenda.”

Former New Jersey Governor Cris Christie described the First Lady of the United States, Dr. Jill Biden, who has dedicated her life to teaching, as the person President Biden is “sleeping with.”

South Carolina Senator Tim Scott and former South Carolina Governor Nikki Haley, as CNN’s Manu Raju noted were “one-time allies,” after “Haley appointed Scott to his Senate seat,” until they started “going at it at [the] debate.”

“Talk about someone who has never seen a federal dollar she doesn’t like,” Scott charged. “Bring it, Tim,” Haley replied before they got into a fight about curtains.

Senator Scott declared, “Black families survived slavery, we survived poll taxes and literacy tests, we survived discrimination being woven into the laws of our country. What was hard to survive was [President] Johnson’s Great Society, where they decided to take the Black father out of the household to get a check in the mail.”

Florida Governor Ron DeSantis, currently leading over everyone on stage, said practically nothing for the first 15 minutes. He may have said the least of all the candidates on stage Wednesday night. But he denounced Donald Trump for being “missing in action.”

Watch all the videos above or at this link.

 

 

 

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