Not Waiting

During, the last decade, jobs grew more slowly than during any prior economic expansion. The income of the average American household declined while the cost of health care and college tuition reached record highs. Prosperity was built on a housing bubble and financial speculation.

According to President Obama, some political advisors have insisted, that our political system is gridlocked and that Democrats should just put things on hold for a while. Obama responded by asking: “How long should we wait? How long should America put its future on hold?”

For decades, some in Washington have claimed, that our leadership wait, but waiting has only allowed our problems to grow worse. China, Germany and India aren’t waiting to revamp their economy and they’re not playing for second place. They're putting more emphasis on math and science. They're rebuilding their infrastructure. They're making serious investments in clean energy because they want the jobs of the future.

As uncomfortable and contentious as the debates may become, it’s time to get serious about fixing the problems that are hampering America’s economic growth.

Obama insists, that he isn’t interested in punishing banks, but serious financial reform is needed. We must insist that Congress begin protecting our economy by ensuring a healthy financial market. A market, that will make it possible for businesses to access credit and create new jobs. A market, that will channel the savings of families into investments that raise incomes and guard against the recklessness that nearly brought down our entire economy.

The House of Representatives has already passed a financial reform bill with many important changes, but lobbyists are trying to kill it. Obama has promised, that if a bill ends up on his desk that doesn’t meet the test of real reform, it will be send back until Congress gets it right.