Press Release
Today, President Obama issued an executive order directing our nation's independent regulatory agencies to examine their regulations, eliminating those that are found to have outlived their usefulness or to unnecessarily stand in the way of job creation. Many federal regulations protect consumer safety, economic fairness, our environment, and more, and it is important to keep those useful regulations in place. At the same time, though, it is appropriate to consistently scrutinize regulations and end those that are harmful, duplicative or out-of-date. Such a review is an important part of Democrats' Make It In America agenda—a legislative program to strengthen America's economic competitiveness and job creation—and I am glad that President Obama has furthered those goals with today's executive order.
As the talks at the White House continue, I remain hopeful that we can reach an agreement on a long-term, balanced approach to reduce our deficit and ensure that America pays its bills. However, that will require my Republican colleagues to remain at the negotiating table and work with us on a deal to address this crisis in a serious way. Democrats have said that everything needs to be on the table and have put everything on the table. Republicans must be prepared to make concessions of their own and not put the entire burden on seniors, the middle class and the most vulnerable among us.
Tonight, the President made clear that we will continue ongoing discussions as we work to reach agreement on a long-term, balanced approach to reduce our deficit. While Democrats are continuing to fight for a deficit reduction compromise that will strengthen the economy and reduce deficits for decades, I’m disappointed my Republican colleagues have indicated they’re not in favor of a compromise deal that would address the fiscal crisis in a serious way. I’m hopeful they will stay engaged so that we can in fact enact an agreement that ensures America pays its bills and reduces the deficit in a balanced way without putting all of the burden on seniors and the middle class.
Tomorrow marks the first day of official independence for the new nation of South Sudan, whose people voted overwhelmingly to secede from Sudan earlier this year. The long-running conflict between northern and southern Sudan was Africa’s bloodiest civil war, and the independence of South Sudan holds out hope for a new beginning—a more secure future for the people of the south. The Obama Administration, along with many of our allies in the international community, worked hard to make the referendum possible, and I thank them for their efforts.
This morning, we learned that our economy added 57,000 private-sector jobs in the month of June, and a net total of 18,000 jobs. We are clearly a long way from replacing all of the jobs lost as a result of the financial crisis in 2008, and we will need many more months of much stronger progress to create jobs for the millions of Americans out of work. Our unacceptably high unemployment rate of 9.2% demonstrates that our problem is still urgent.
Last year, Congress voted to repeal the counterproductive and unjust policy of ‘Don’t Ask, Don’t Tell.’ But despite overwhelming evidence that repeal will strengthen our military, despite strong support for repeal among our troops and the American people, despite support for repeal from military leaders like the Secretary of Defense and the Chairman of the Joint Chiefs of Staff, and despite a federal court order that the government stop enforcing DADT immediately, Republicans are still pushing to keep this shameful policy in place.
Today, the interest rate on subsidized student loans will be cut to 3.4% – the last of four steps under the 2007 College Cost Reduction and Access Act. Enacted under a Democratic-led Congress, this law has cut the interest rate on subsidized student loans in half – from 6.8% to 3.4% over four years. This law was a key part of Democrats’ agenda to make college more affordable and accessible for millions of American students and their families. Due to these cuts, the average student borrower who started college in 2008 will have saved $2,570 over the life of their loan.
Forty years ago today, the most sacred of American rights—the right to vote--- was extended to millions of young Americans. With this amendment, millions of young people were given the opportunity to participate in our great democracy and to have their voices heard.
Forty five years ago today, President Johnson launched the Medicare program, providing safety and security to generations of America’s seniors. This bedrock program has provided coverage and retirement security to millions of seniors, including an estimated 39 million seniors in the program today.
Today the President clearly stated Democrats’ position: we must ensure that America pays its bills, and agree to a balanced approach to reduce the deficit that includes spending and revenues. We disagree with Republicans who want to protect tax breaks for the wealthy, the oil companies, and special interests, while fighting to end Medicare and reduce the deficit on the backs of seniors and the middle class.