White House Blog

President Obama continues his call for a return to American values, including fairness and equality, as part of his blueprint for an economy built to last. 

Transcript | Download mp4 | Download mp3

Learn more

• Details for President Obama's plan to help homeowners.

A quick look at this week on WhiteHouse.gov:

Talking Tuition with the Wolverines: Shortly after delivering his State of the Union address, the President took his Blueprint for making college more affordable straight to the people at the frontlines of the issue—students. Speaking from the University of Michigan in Ann Arbor, the President noted that a college degree “will be the best tool you have to achieve that basic American promise.”

A Georgian Visitor: Georgian President Mikheil Saakashvili met with the President in the Oval Office on Monday, discussing relations between our two countries—including Georgia’s contributions to the military operation in Afghanistan and the potential for a free trade agreement between the United States and Geogia—and marked the 20th anniversary of diplomatic relations between both countries.

Hanging Out on Google+: The President participated in the first-ever virtual interview from the White House on Monday from the Roosevelt Room. After more than 227,000 people submitted questions or voted for their favorites, the President sat down for a discussion with a group of Americans from across the country in a Google+ Hangout. In case you missed it, you can watch the full video here.

The Cabinet Convenes: On Tuesday, the President held a Cabinet meeting in the Cabinet Room of the White House to discuss the ideas he laid out in the State of the Union. A top priority mentioned by the President during the State of the Union was the need to promote small business throughout the country, which was echoed in the meeting, where a new Cabinet member and the head of the Small Business Administration, Karen Mills, joined the discussion and ensured that entrepreneurs were represented.

In the Showroom: With Detroit’s newest vehicles on display at the Washington Auto Show, the President took a trip across town to get a glimpse of the outstanding work produced within the U.S. auto industry. He was impressed by what he saw, saying, “Because of folks coming together, we are now back in a place where we can compete with any car company in the world.”

Fairness, Responsibility and Housing: One way the President plans to achieve his Blueprint for an America Built to Last is by taking action to help responsible borrowers and support a housing market recovery. On Wednesday, he expanded on the ideas he presented in the State of the Union—including a proposal for a Homeowners Bill of Rights—at the James Lee Community Center in Falls Church, Virginia, where home values have fallen by about a quarter from their peak.

The National Prayer Breakfast: At the annual National Prayer Breakfast in Washington, D.C., the President spoke about how his faith and values guide the difficult decisions he makes as he leads the country.

This week, we celebrated the 1-year anniversary of Startup America, a White House initiative to encourage and accelerate high-growth entrepreneurship.

Forgot to send a card in honor of the occasion? Don’t worry, we won’t tell. But you should take a few minutes to watch this White House White Board, released this day last year, and learn about how Startup America can help entrepreneurs overcome the “valley of death” they often face when launching a new project.

Find out more about how Startup America can help to boost startups and small businesses that create so many jobs in this country:

• Read the details of the Startup America legislative agenda President Obama sent to Congress
• Watch the Gene Sperling, Steve Case, and Aneesh Chopra answer questions about Startup America in a White House Hangout
• Video: What Can Startup America Do for Me?
• Video: Advice for Young Entrepreneurs from Startup America

President Barack Obama delivers remarks on the Veterans Job Corp and the economy while speaking at Fire Station #5 in Arlington, Va., Feb. 3, 2012. (Official White House Photo by Pete Souza)

Even with the news that the economy added 257,000 private sector jobs in January, there is more work to do to help our veterans returning from war find new jobs at home. And this morning, President Obama visited a fire station in Arlington, Virginia to discuss a new set of ideas to do just that -- including a Veterans Job Corps.

In the State of the Union, President Obama said:

[Our] freedom endures because of the men and women in uniform who defend it. As they come home, we must serve them as well as they’ve served us. That includes giving them the care and the benefits they have earned –- which is why we’ve increased annual VA spending every year I’ve been President. And it means enlisting our veterans in the work of rebuilding our nation.

That's a sentiment the President echoed today at Fire Station #5:

Our veterans are some of the most highly trained, highly educated, highly skilled workers that we’ve got.  These are Americans that every business should be competing to attract. These are the Americans we want to keep serving here at home as we rebuild this country. So we’re going to do everything we can to make sure that when our troops come home, they come home to new jobs and new opportunities and new ways to serve their country.

Already, the Obama Administration has helped 600,000 veterans and their family members go back to school on the Post-9/11 G.I. Bill and hired more than 120,000 veterans to serve in the federal government. First Lady Michelle Obama and Dr. Jill Biden have worked with the private sector to secure a pledge from businesses to hire 135,000. And President Obama worked with Congress last fall to pass two new tax credits for companies that put veterans to work.

Now President Obama is making a new push to help veterans build the lives the deserve. In Arlington, he called for three new initiatives.

First, President Obama is working to help state and local communities hire veterans to work as first responders. The administration will make available $166 million in 2012 Community Oriented Policing Services (COPS) Hiring Grant funding and $320 million in 2012 Staffing for Adequate Fire and Emergency Response (SAFER) grants and award that money with a preference to communities that recruit and hire post-9/11 veterans. The President's budget for the 2013 fiscal year will include additional $5 billion for these grant programs.

Second, the President is working to develop a Veterans Job Corps conservation program that will put up to 20,000 veterans to work over the next five years. They'll work to restore habitats, eradicate invasive species, maintain public lands, and operate public facilities.

Third, President Obama wants to expand entrepreneurship training opportunities for service members and veterans. Back in August, the Administration established a two-day course in entrepreneurship as part of the Transition Assistance Program with the Departments of Defense and Veterans Affairs, along with the Small Business Administration. The SBA also offers an eight week online training program that will teach the fundamentals of small business ownership to more than 10,000 veterans every year.

Learn More

• Visit Joining Forces to learn more about ways to help military families.
• Check out the online tools available to help veterans search for jobs.

President Obama and First Lady Michelle Obama invited a group of American heroes to the White House for a very special movie night. The guests were retired Tuskegee Airmen, the African American veterans who overcame segregation and prejudice to become one of the most highly respected fighter groups of World War II, and whose achievements paved the way for full integration of the U.S. military.

The movie was "Red Tails", a new film that tells the Tuskegee story. "Red Tails"was produced by George Lucas, directed by Anthony Hemingway and stars Cuba Gooding Jr., who all joined the President, the First Lady and the Airmen for the screening in the White House theater.

Today’s employment report provides further evidence that the economy is continuing to heal from the worst economic downturn since the Great Depression. It is critical that we continue the economic policies that are helping us to dig our way out of the deep hole that was caused by the recession that began at the end of 2007. Most importantly, we need to extend the payroll tax cut and continue to provide emergency unemployment benefits through the end of this year, and take the additional steps that President Obama proposed in his State of the Union address to create an economy built to last.

The unemployment rate fell 0.2 percentage point to 8.3%, from a high of 10% in October 2009. The drop in unemployment over the month was entirely due to employment growth, as the labor force participation rate remained constant, once new population weights are taken into account.  The unemployment rate has fallen by 0.8 percentage point in the last 12 months. Private sector payrolls increased by 257,000 jobs and overall payroll employment rose by 243,000 jobs in January. Despite adverse shocks that have created headwinds for economic growth, the economy has added private sector jobs for 23 straight months, for a total of 3.7 million payroll jobs over that period. In the last 12 months, 2.2 million private sector jobs were added on net.  Nonetheless, we need faster growth to put more Americans back to work.

Sectors with net job increases in December included professional and business services (+70,000), manufacturing (+50,000), leisure and hospitality (+44,000), health care and social assistance (+29,700), and construction (+21,000).  Government lost 14,000 jobs.

The monthly employment and unemployment numbers can be volatile, and employment estimates can be subject to substantial revision. Therefore, as the Administration always stresses, it is important not to read too much into any one monthly report; nevertheless, the trend in job market indicators over recent months is an encouraging sign.

This week, the President made history by holding the first completely virtual interview at the White House on Google+. He also tackled the rising cost of tuition at the University of Michigan, welcomed the President of Georgia, convened a cabinet meeting, stopped by the Washington Auto Show, announced a major refinancing plan for responsible homeowners, and attended the National Prayer Breakfast.

Felicia Escobar, Senior Policy Advisor in the White House Domestic Policy Council, and Luis Miranda, Director of Hispanic Media in the Communications Office, participate in a conference call with people who signed a petition on We the People.

Yesterday, we joined a conference call with individuals from across the country to discuss issues impacting foreign students studying in our colleges and universities. We were joined by our colleagues Julie Rodriguez from the Office of Public Engagement and Luis Miranda from the Office of Communications. The conference call was the next step in our response to a petition submitted through We the People on Whitehouse.gov. We the People is a new way to petition the Obama Administration to take action on a range of important issues facing our country.  We created We the People last year to help make your voices heard in our government. We know that some of the best ideas come from individuals directly impacted by federal policies.

On our call, we discussed the impact that existing immigration laws have on foreign students who have earned advanced degrees in American schools.  As President Obama said during his State of the Union address, it makes no sense to allow these talented students to come to the U.S. and “to study business and science and engineering, but as soon as they get their degree, we send them home to invent new products and create new jobs somewhere else.”  That’s why the President supports legislative measures that would attract and retain immigrants who create jobs and boost competitiveness here in the U.S. – including "stapling" green cards to the diplomas of certain foreign-born graduates in science, technology, engineering, and math (STEM) fields – as a part of his vision for building a 21st century immigration system.

We reiterated this message on our call, and also discussed what the Administration is doing—independent of Congress—to help improve existing immigration policies to attract and keep the best and the brightest in our country. During the Q&A session, callers raised many concerns regarding F-1 and other visas targeted for highly skilled immigrants.  Among these was a question regarding the possibility of extending employment authorization to certain spouses of H-1B visa holders who are awaiting the adjudication of green card applications.  We were especially pleased to inform the callers that the Department of Homeland Security had announced just the day before—as part of the One Year Anniversary of the White House Startup Initiative — that they will be addressing this very issue through regulatory reforms. 

Every day, the Administration is working to make improvements in the areas where we can really make a difference.  It is invaluable to hear from people directly affected by our current immigration policies in order to get closer to the President’s vision of a 21st century immigration system that grows our economy and meets our security needs.

Felicia Escobar is a Senior Policy Advisor in the White House Domestic Policy Council and Doug Rand is a Senior Policy Advisor in the White House Office of Science and Technology Policy

Click here to see the video.

This morning at the National Prayer Breakfast, President Obama gave a speech where he described how his faith as a Christian informs his thinking as a leader.

And he talked about the importance of our shared set of values as Americans:

We can’t leave our values at the door. If we leave our values at the door, we abandon much of the moral glue that has held our nation together for centuries, and allowed us to become somewhat more perfect a union. Frederick Douglass, Abraham Lincoln, Jane Addams, Martin Luther King, Jr., Dorothy Day, Abraham Heschel -- the majority of great reformers in American history did their work not just because it was sound policy, or they had done good analysis, or understood how to exercise good politics, but because their faith and their values dictated it, and called for bold action -- sometimes in the face of indifference, sometimes in the face of resistance.

This is no different today for millions of Americans, and it’s certainly not for me.

The whole speech is worth a watch. Check it out above.

read more

Last week in his State of the Union Address, the President laid out his blueprint for an economy built to last, where everyone gets a fair shot, everyone does their fair share, and everyone plays by the same set of rules. He believes this is a make or break moment for the middle class and those trying to reach it. He knows what’s at stake: the very survival of the basic American promise that if you work hard, you can do well enough to raise a family, own a home, and put enough away for retirement.  

The fact is, economic security for the middle class has been eroding for decades. Millionaires and billionaires saw their wealth skyrocket while too many Americans were struggling to get by. And in 2008, the house of cards collapsed. Mortgages were sold to folks who couldn’t afford or understand them.  In addition to the nearly eight million jobs lost, it left responsible homeowners holding the bag and badly hurt from this irresponsible behavior.  

The President refuses to stand on the sidelines and let folks fend for themselves. That’s why he laid out a plan to help responsible borrowers and relieve some of the pain caused by the financial crisis. The President knows the government can’t fix the housing market on its own, and he believes that responsible homeowners should not have to sit and wait for the market to hit bottom to get relief when there are measures at hand that can make a meaningful difference. This includes allowing these homeowners the ability to save an average of $3,000 dollars a year by refinancing at today’s low interest rates. He also put forward a single set of standards, or a Homeowner Bill of Rights, to make sure borrowers and lenders play by the same rules. 

Additionally, the Federal Housing Finance Agency, with Treasury and Housing and Urban Development, announced a pilot sale of foreclosed properties to be transitioned into rental housing.  This will help stabilize neighborhoods and improve home prices. These are just a few of the steps that’ll strengthen the housing market and help folks who are underwater on their mortgage.  

read more

Ed note: This has been cross-posted from healthcare.gov

Like thousands of Americans, Vero Beach, Florida resident William Morris is suffering from a rare, but treatable cancer. Compounding that difficult diagnosis is further bad news that, like many cancer drugs, the medicine he so desperately needs is very expensive.

But help with this cost came for William and his wife Suzanne from newly enhanced benefits under Medicare Part D – made possible by the health care reform law, the Affordable Care Act.  Thanks to the law, William saved $2,000 on the cost of his chemotherapy drugs.

Suzanne and William Morris are not alone. For years, seniors have watched their health care bills go up. The Affordable Care Act helps folks like the Morris family, and other seniors, by closing the gap in prescription drug benefits known as the “donut hole.” To assist those in the coverage gap, the law adds increased help for seniors and people with disabilities over time until the donut hole closes in 2020. William and Suzanne benefited from that help when they received big discounts on the medicine they needed. People in the coverage gap also receive a 50% discount on expensive brand-name drugs covered by Part D and a 7% discount on generic medicines.

Today, we announced that in 2011 about 3.6 million people with Medicare benefited from donut hole discounts—saving a total of $2.1 billion, or an average of $604 per person.

And a new report released today finds that these discounts and other parts of the Affordable Care Act will lead to even bigger savings in the years ahead. According to the report, the average person with Medicare will save approximately $4,200 from 2011 to 2021, while those with high prescription drug costs will save much more – as much as $16,000 over the same period. This is especially good news for people with chronic conditions such a diabetes and high blood pressure who must take their medication every day for many years.

For older Americans and people on disabilities who live on fixed incomes the value of this help cannot be overstated. Evidence indicates that as many as 25 percent of people with Medicare Part D stop taking their medicine when they are in the coverage gap. Thanks to the Affordable Care Act, they won’t have to.

For people like William who are fighting life-threatening or debilitating diseases, this benefit can help them heal, improve the quality of their lives and prevent the sometimes devastating results of leaving chronic conditions untreated.

Kathleen Sebelius is the Secretary of Health and Human Services

First Lady Michelle Obama drops by the Girls Mentoring November activity in room 430 of the Eisenhower Executive Office Building, Nov. 29, 2010.

February is Black History Month, and his year's theme, "Black Women in American Culture and History," honors African American women and the many roles they’ve played in the shaping of our nation.  

And in an interview with More magazine, First Lady Michelle Obama talks candidly about one of the roles that matters most to her, one that has been a part of her life since she was in high school, one that can have a crucial influence in shaping the next generation of American women and one she urges others to embrace: Mentor.

Mrs. Obama discusses the impact mentors have had in her life, and also what being a mentor has meant to her (one of the first people she mentored as a lawyer in Chicago was a fellow graduate of Harvard Law School named Barack Obama: “I made sure that he met the partners that he was working with; I had to take him out to lunch a couple of times” she tells the magazine).

And for the first time, the First Lady discusses a program she launched shortly after moving into the White House, a mentoring program she designed “to open a secret door for others that hadn’t been opened for me,” by pairing disadvantaged girls with some of the powerful women in the land. She tells the magazine:

“I wanted [the students] to experience this notion that if you can walk [through] the doors of the White House once a month and sit down with the first lady and her chief of staff and some other senior officials, and they’re talking to you and you get used to hearing your voice in the space, then it becomes not a big deal.”

And so her program pairs teenage girls with “this wonderful array of women who come from different backgrounds,” she says. “They’re senior leaders in President Obama’s administration, and they all have a story, right? They all have a set of challenges and struggles.” Those stories, Obama believes, are best told in person, over time, creating the kind of enduring bond the social media generation sorely lacks. “Even though our children are connecting in ways we never imagined,” she told a national summit on mentoring not long ago, “you’ve got an entire generation of young people truly in desperate need of a friend. Someone they can trust, an example they can follow.”

In his State of the Union message last week, President Obama laid out a blueprint for an America that’s built to last—where hard work pays off and responsibility is rewarded. Today, the Departments of Treasury and Labor are taking steps to strengthen economic security for our nation’s seniors by giving Americans greater investment information and access to more choices to plan for a secure retirement. These steps will be of particular importance to women, who tend to live longer and have fewer retirement assets and lower retirement income than men. 

The Department of Labor is taking action to require 401(k) plan providers to better disclose the cost and nature of the services they provide, while Treasury and the IRS are announcing steps that will ease regulatory barriers in the market for annuities and other forms of lifetime income. The Council of Economic Advisers (CEA) has prepared a detailed report describing the significance of today’s actions, which can be accessed here. 

Today’s announcements complement previous Administration initiatives to make retirement more secure for American families. In September 2009, President Obama announced expanded opportunities for automatic enrollment in retirement savings plans. The President has also championed an automatic IRA legislative proposal through which tens of millions of workers without access to a workplace retirement plan would be automatically enrolled in IRAs through payroll deposit contributions, while remaining free to opt out. And the Administration has proposed easing requirements on the timing and amount of distributions from retirement accounts for many retirees, reducing the compliance burden and providing elderly Americans with greater control over their retirement assets.  

read more

Housing and Urban Development Secretary Shaun Donovan listens as President Barack Obama delivers remarks on housing and the Homeowners Bill of Rights at the James Lee Community Center in Falls Church, Va., Feb. 1, 2012. (Official White House Photo by Pete Souza)

Today, in Falls Church, Virginia, President Obama expanded on the ideas he first presented in the State of the Union on ways to help responsible homeowners refinance their mortgages.

Here are more details about that plan.

But the President also said that we can't wait on Congress to take action to help working families in this country:

Already, we’ve set up a special task force I asked my Attorney General to establish to investigate the kind of activity banks took when they packaged and sold risky mortgages.  And that task force is ramping up its work as we speak. We’re going to keep at it and hold people who broke the law accountable and help restore confidence in the market.  We’re going to speed assistance to homeowners. And we’re going to turn the page on an era of recklessness that hurt so many hardworking Americans. 

Read the full remarks here. Or watch the video to learn more.

Click here to see the video.

Learn more

• Watch the Enhanced State of the Union
• Read President Obama's Blueprint for an American that Lasts

Thanks to the Affordable Care Act, most health insurance plans will cover women’s preventive services, including contraception, without charging a co-pay or deductible beginning in August, 2012.  This new law will save money for millions of Americans. But more importantly, it will ensure Americans nationwide get the high-quality care they need to stay healthy. Under this policy, women who want contraception will have access to it through their insurance without paying a co-pay or deductible.  But no one will be forced to buy or use contraception.

On January 20th, Secretary Sebelius announced that certain religious organizations including churches would be exempt from paying their insurers to cover contraception. Other religious organizations, including those that employ people of different faiths, can qualify for a one-year transition period as they prepare to comply with the new law. In recent days, there has been some confusion about how this policy affects religious institutions. We want to make sure you have the facts:

• Churches are exempt from the new rules: Churches and other houses of worship will be exempt from the requirement to offer insurance that covers contraception.
• No individual health care provider will be forced to prescribe contraception: The President and this Administration have previously and continue to express strong support for existing conscience protections.  For example, no Catholic doctor is forced to write a prescription for contraception. 
•  No individual will be forced to buy or use contraception: This rule only applies to what insurance companies cover.  Under this policy, women who want contraception will have access to it through their insurance without paying a co-pay or deductible.   But no one will be forced to buy or use contraception.
• Drugs that cause abortion are not covered by this policy:  Drugs like RU486 are not covered by this policy, and nothing about this policy changes the President’s firm commitment to maintaining strict limitations on Federal funding for abortions. No Federal tax dollars are used for elective abortions.
• Over half of Americans already live in the 28 States that require insurance companies cover contraception: Several of these States like North Carolina, New York, and California have identical religious employer exemptions.  Some States like Colorado, Georgia and Wisconsin have no exemption at all.
• Contraception is used by most women: According to a study by the Guttmacher Institute, most women, including 98 percent of Catholic women, have used contraception.
• Contraception coverage reduces costs: While the monthly cost of contraception for women ranges from $30 to $50, insurers and experts agree that savings more than offset the cost.  The National Business Group on Health estimated that it would cost employers 15 to 17 percent more not to provide contraceptive coverage than to provide such coverage, after accounting for both the direct medical costs of potentially unintended and unhealthy pregnancy and indirect costs such as employee absence and reduced productivity. 

 The Obama Administration is committed to both respecting religious beliefs and increasing access to important preventive services. And as we move forward, our strong partnerships with religious organizations will continue. The Administration has provided substantial resources to Catholic organizations over the past three years, in addition to numerous non-financial partnerships to promote healthy communities and serve the common good. This work includes partnerships with Catholic social service agencies on local responsible fatherhood programs and international anti-hunger/food assistance programs. We look forward to continuing this important work.

Eight months ago, one of the deadliest tornados in U.S. history touched down in Joplin, Missouri, and took the lives of more than 160 residents and destroyed thousands of homes.  The federal response began immediately. Within hours, Federal Emergency Management Agency teams were on the ground to work hand in hand with state and local officials to assist in response and recovery. AmeriCorps members also raced to the scene as well. Members from AmeriCorps St. Louis Emergency Response Team and the AmeriCorps National Civilian Community Corps (NCCC) arrived in Joplin, and immediately began working with local authorities to assist in search and rescue.

Yesterday, the Missouri House of Representative passed a bipartisan resolution honoring the more than 300 AmeriCorps members from across the country who have played an indispensable role in helping the cities of Joplin and Duquesne recover. They provided homeowner assistance and casework, helped clear debris, and provided support to the Missouri Highway Patrol and the Joplin Police Department with missing person inquiries.

But these AmeriCorps members were certainly not alone. More than 60,000 volunteers ranging from average citizens who wanted to help to active duty military to faith-based groups from across the country have been an indispensable source of support for the people of Joplin. Managed and supported by AmeriCorps members, these volunteers have provided more than 579,000 hours of service and contributed to $17.7 million of donated resources to more than 2,000 households.

read more

On Thursday, February 2nd at 5:30 p.m. EST, Gene Sperling, Steve Case and Aneesh Chopra are joining a conversation with Americans across the country in a special White House Hangout focused on Startup America. Will you join them?

Startup America is a White House initiative that was launched to celebrate, inspire, and accelerate high-growth entrepreneurship throughout the nation. In honor of its one-year anniversary, we’re hosting a special White House Hangout, a live multi-person video chat, through Google+ to talk with Americans across the country about the initiative and answer questions about President Obama’s new proposals to accelerate startup and small business growth.

Joining the Startup America Hangout will let you engage with one of America’s most successful entrepreneurs and Senior Administration officials:

• Gene Sperling, Director of the National Economic Council (read more)
• Steve Case, Chairman of the Startup America Partnership (read more)
• Aneesh Chopra, US Chief Technology Officer (read more)

We hope you’ll Hangout with us on Thursday, February 2nd at 5:30 p.m. EST. Here’s how you can get involved:

• What’s your question about Startup America? Starting now, you can ask questions for Gene, Steve and Aneesh on the White House Google+ page, and you just might be invited to join the live Hangout.
• Watch the Hangout live at 5:30 p.m. on Thursday, February 2nd on WhiteHouse.gov/live, YouTube.com/whitehouse or the White House Google+ page.

And in case you missed it, President Obama participated in the first White House Hangout from the West Wing earlier this week. In the first completely virtual interview from the White House, the President sat down with people from across the country to discuss his State of the Union Address.

For upcoming White House Hangouts and more chances to engage, follow the White House on Google+

In response to press inquiries received on today’s housing announcement by the Obama administration, Consumer Financial Protection Bureau Director (CFPB) Richard Cordray issued the following statement: 

“The principles articulated by the Obama administration today are good guideposts for much-needed reforms in the mortgage market. The problems that plague consumers are well-documented. Too many consumers were steered into complicated mortgages that they did not understand and couldn’t afford. Too many families were forced into foreclosure because paperwork was lost, phone calls went unanswered, errors were not resolved, or documents were falsified.   

“To protect consumers, there must be clear rules of the road and real consequences for breaking them. The Consumer Bureau is already hard at work making the costs and risks of mortgages clear upfront through our Know Before You Owe project. The financial reform law also requires us to create new mortgage servicing rules that hold servicers accountable for disclosing fees and fixing problems. We are also working with other federal agencies to develop common-sense national servicing standards. But having rules in place isn’t enough. We are closely monitoring mortgage servicers to make sure that no one gains an unfair advantage by breaking the law. Taking these steps to fix the mortgage market is good for consumers, honest businesses, and our entire economy.” 

The CFPB’s draft simplified mortgage disclosure is available online at: http://www.consumerfinance.gov/wp-content/uploads/2012/01/Jan2012_Estimate_Honeylocust.pdf

At the time the Affordable Care Act was passed, Republicans in Congress said the bill would virtually end the Medicare Advantage program. “Every one of them (in Medicare Advantage) will see their benefits go down,” “provisions in there are going to allow them to kill Medicare Advantage,” “if this passes, it is the end of Medicare Advantage as we know it,” are just a few of the incendiary charges Republicans made about the Affordable Care Act.  Premiums would go up, they claimed, and choice and enrollment would go down. 

Those predictions turned out to be wrong. Medicare Advantage is stronger than ever – offering more seniors better benefits, higher quality care and lower costs.  As reported last year, 99.7 percent of people with Medicare still have access to Medicare Advantage plans.

In fact, premiums have been consistently lower – and enrollment has been higher.  Today, the Centers for Medicare & Medicaid Services announced that average premiums for Medicare Advantage enrollees in 2012 are 7 percent lower compared to last year, exceeding the 4 percent decrease that was projected in September. Since the Affordable Care Act was enacted, premiums have gone down by nearly 16 percent. In addition, enrollment increased by nearly 10 percent from 2011. That means that Medicare Advantage enrollment is up by 17 percent since enactment of the Affordable Care Act in 2010. In August of 2010, CBO projected that Medicare Advantage enrollment would be 10.2 million in 2012, down from 10.4 million in 2009. Actual enrollment is over 2 million people higher than that projection, at 12.8 million in February of this year.

And further, the Affordable Care Act strengthened consumer protections and improved plan choices for people with Medicare Advantage. The law is paring back overpayments to plans.  It requires health plans to pay at least 85 percent of what they collect in payments on health care, not on overhead and profits.  Plans can no longer charge higher cost sharing than a senior in traditional Medicare pays.  And proven preventive services are covered for free. 

And when seniors choose a Medicare Advantage plan, a new five-star rating system shows them which plans in their area are doing a better job of caring for patients.  Plus, a new, value-based purchasing system is encouraging all plans to improve their quality by paying plans with excellent overall quality more, and lower-quality plans less. It’s the kind of smart reform we’ve implemented throughout Medicare since enactment of the Affordable Care Act.

This is another myth from opponents of health reform debunked by results. Under the Affordable Care Act, Medicare is stronger than ever.

In last week’s State of the Union Address, the President laid out a blueprint for an economy built to last, where everyone gets a fair shot, everyone does their fair share, and everyone plays by the same set of rules, especially those elected officials who have been sent here to Washington.

During the speech, the President called on Congress to pass a bill that makes clear that current insider trading laws apply to Members of Congress. No one should be able to trade stocks based on nonpublic information they learned on Capitol Hill. This is a no-brainer. 

I’d like to point out that Executive Branch employees are already covered by the insider trading prohibitions. That’s right -- there are laws on the books to prevent Executive Branch employees from trading stock based on information that is not public. In fact, the SEC and the Department of Justice have brought insider trading actions against employees of the Executive Branch based on this clear authority under the law. So, the Executive Branch is covered. It’s time to make it clear that Congress is subject to the same rules. 

Now, there are some folks out there who suggest the Administration is trying to impose a higher standard on Congress. That couldn’t be further from the truth. Not only do the insider trading laws already apply to the Executive Branch, but there are other laws on the books that prohibit Executive Branch employees from using their positions to benefit their own personal financial interest. These laws don’t apply to Congress.  

read more