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Congresswoman Waters Comments on President Obama’s Speech

July 20, 2009

Immediately following President Barack Obama's address to a joint session of Congress tonight, Congresswoman Maxine Waters (D-CA) issued the following statement:

Tonight we are reminded once again not only what a gifted speaker President Obama is but also a great leader.  We are indeed fortunate that he is in the White House at this moment in our nation's history.

President Obama continues to inspire hope and optimism.  Even as he spelled out the very serious challenges we face and acknowledged the real hardship that millions of Americans are suffering, he gave us confidence that we can – and we will – work together to meet these challenges and get through these tough times.

Solving America's housing crisis is absolutely necessary to helping our communities, turning around our financial institutions and improving our economy.  As Chairwoman of the Housing and Community Opportunity Subcommittee, I am taking a lead role to help homeowners who have seen the value of their homes decrease, and I am especially concerned about the millions of families at risk of losing their homes to foreclosure.  President Obama has announced an initiative to help homeowners, and I think this is a huge step in the right direction to stem the tide of foreclosures.  In particular, I applaud provisions of his plan that will encourage mortgage servicers to use loan modifications so homeowners can afford to stay in their homes and that will allow refinancing to assist homeowners whose mortgages are slightly underwater.

I believe that the President's economic recovery plan, which has now been passed by Congress and signed into law, will succeed in creating jobs and reviving America's economy.  In addition, we are making important investments in our future by supporting education, healthcare, clean energy and new technology.

President Obama also hinted at what his budget will include – and what it won't.  I look forward to learning the details later this week.  Clearly, America cannot afford to spend and spend and spend given the recession and the record deficit run up by George W. Bush.  However, we can also not afford to neglect essential programs that assist our most vulnerable populations and that offer opportunity for all people to share in the American dream.  I am confident that the President's budget will recognize these priorities, and I look forward to working with him to move our country in a new direction.
 

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