President Obama explains his plan to address one of the major causes of the current economic crisis, the breakdown of oversight leading to widespread abuses in the financial world. The new Consumer Financial Protection Agency will have the sole job of looking out for the financial interests of ordinary Americans by banning unfair practices and enforcing the rules. This is a cornerstone in America’s new economic foundation. These companies should have the public's best interest in mind, not profits.
The President speaks in a landmark speech on health care reform to the American Medical Association in Chicago Ill. More than at any time before, he explained his vision for comprehensive reform that addresses every weak point in our health care system. It is a vision that implements best practices that have allowed some towns and companies to cut costs by as much as half compared to others. It is a vision that makes sure everybody has access to quality, affordable coverage, whether your family hits a rough patch or you have a pre-existing condition. It is a vision in which patients’ and doctors’ interests are aligned. And it is a vision where Americans’ choices of doctors and coverage are maintained, and they also have a choice of a public option that can help keep private insurers honest.
Obama is pushing the health care institutions to make the changes need for health care reform. They must fix themselves or be left behind.
The President has long said that skyrocketing health care costs will be disastrous in terms of the long term national debt unless we pass health care reform. In this Weekly Address, the President also explains how he will cover the upfront costs of reform by eliminating over payments from Medicaid and Medicare and driving down costs contributing to government’s health care expenditures across the board.
We have a responsibility now. The President is moving forward on health reform.
He announce 113 billion dollars in saving. Changes will come with common sense changes to what is already in place.
