Obama Presses GOP On Consumer Watchdog Delay

President Barack Obama is pressing congressional Republicans to approve his pick to head a new consumer watchdog office, promising he won't back down on his effort to protect middle-class Americans from deceptive business practices and prevent another financial meltdown.

Every day America has to wait for a new consumer protection watchdog is another day that dishonest businesses can target and take advantage of students, seniors and service members," Obama said Saturday in his weekly radio and Internet address. "So I refuse to take `no' for an answer. Financial institutions have plenty of high-powered lawyers and lobbyists looking out for them. It's time consumers had someone on their side."

Senate Republicans this week blocked Obama's appointment of Richard Cordray as director of the Consumer Financial Protection Bureau, an agency they said had been given too much power and too little accountability. Without a director, the office designed to shield consumers from the excesses behind the 2008 financial crisis is unable to operate at full strength.

With voters set to begin selecting a Republican presidential nominee in less than a month, Obama suggested the disagreement is another example of two parties who see fairness very differently. He said a consumer watchdog agency is critical to protecting ordinary Americans from the greed of the financial sector.

"Today, America faces a make-or-break moment for the middle class," he said, echoing a theme outlined during a Kansas speech earlier in the week. "I believe that this country succeeds when everyone gets a fair shot, everyone does their fair share and everyone engages in fair play."
Obama also reiterated his push for congressional Republicans to extend the Social Security payroll tax cut, which is set to expire at the end of the year.

And using the approaching holidays as leverage, he called on Congress to act on his priorities before leaving Washington for the year.

"No one should go home for the holidays until we get this done," Obama said. "So tell your members of Congress, `Don't be a Grinch.' Tell them to do the right thing for you and for our economy."

Meanwhile, Republicans pushed their recipe for the nation's economic struggles.

Set for a House vote next week, the GOP plan ties an extension of the payroll tax and extended unemployment benefits to a provision that jump-starts work on a pipeline to carry oil from Canada to refineries on the Texas Gulf Coast.

Obama wants to postpone a decision on the project, known as the Keystone XL pipeline, until after next fall's elections.

"You've heard President Obama say the American people `can't wait' to take action on jobs," House Speaker John Boehner of Ohio says in the Republicans' weekly address. "Well, the Keystone project is the very definition of an idea the American people can't wait for Washington to take action on."

Boehner continued: "This is no time for the same-old my-way-or-the-highway theatrics. It's no secret that Democrats and Republicans often disagree about the best way to create jobs, but we can't let those disagreements prevent us from acting when we agree."


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  • by 40some on Dec 10, 2011 at 08:01 PM
    “Ineptocracy (in-ep-toc-ra-cy) — a system of government where the least capable to lead are elected by the least capable of producing, and where the members of society least likely to sustain themselves or succeed, are rewarded with goods and services paid for by the confiscated wealth of a diminishing number of producers!” ....
    • reply
      by ben on Dec 11, 2011 at 05:28 AM in reply to 40some
      Reply to 40some An absolutely true and frightening post. If Obama isn't voted out in the next election I's afraid it's going to be too late for this country. We'll end up with a socialist society where everybody suffers except the ones running the government. I'm all for a constitutional amendment that makes government employees and welfare recipents inelligible to vote. Those people, along with the unions are what's keeping the Democrats in office.
    • reply
      by Boats on Dec 11, 2011 at 06:30 AM in reply to 40some
      That's about as well put as I have ever seen it!!!
  • by Wolfgang Location: Chocowinity,NC on Dec 10, 2011 at 07:10 PM
    Obama has no soul he sells out the American people to lobbyists.
  • by T Maxx Location: G-vegas on Dec 10, 2011 at 03:32 PM
    A watch dog group looking out for mid classes, aint that nice Mr.Obama if you people believe Obama is looking out for I have some ocean front property in AZ. for you. Its enough blame to go around for the mess this country is in. fact under the Bush the democrates were in charge of the house and senate 6 of the 8 years Bush was in office. so democarats let took a look at yourself in the mirrior for your fail policies. Mr. Obama is in campagin mode now will say anything to stay in office at this point, expect loosen the restriction on business so they can grown and get people back to work. Obama you maybe selling I am not a sheep so I am not buying.
  • by Benny G. on Dec 10, 2011 at 03:01 PM
    Now I see why they say the Republicans are the party of obstructionist. Yet, they wine and complain about nothing getting done. Out with these GOP Clowns in 2012.
  • by Teresa on Dec 10, 2011 at 02:59 PM
    At least we have a great president that really works for us. I am so proud of the job he is doing. Obama2012. He will win again.
  • by obamanot on Dec 10, 2011 at 12:29 PM
    oblahma,you got a fair shot and a free ride to boot.Is this country succeeding?NOT!
  • by Beachbum3 on Dec 10, 2011 at 10:57 AM
    Mr.President: in the issues of the republican failure to appoint mr corday why not make a recess appointment to fill this position much as your predecessor did do so many many many times successfully so. an got pushed through an done what he wanted to accomplish for the repbulican side of the asile. an the the repbulcians in congress would really let out a hollow for sure just a suggesstion mr president thank you
  • by Ben Location: Kinston on Dec 10, 2011 at 10:46 AM
    Just another one of his charades. He could care less about middle class citizens. I hope America is finally catching on to this demagogue and his cabal of union bosses and leftist zealots. "Hope and Change" has been nothing more than hyph and corruption.
  • by Anonymous on Dec 10, 2011 at 10:10 AM
    GOP, don't approved ANYONE this idiot tries to appoint. None of his appointees yet have been honest or capable of doing their jobs. This guy needs to be voted out of office ASAP.
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