Congresswoman Waters Statement on President Obama's State of the Union Address

WASHINGTON, D.C. – Congresswoman Maxine Waters (CA-43), Ranking member of the Committee on Financial Services, released the following statement on President Obama’s State of the Union Address.

Congresswoman Waters’ statement follows.

“As our nation continues to face uncertain times, President Obama delivered a message to inspire and encourage Americans that hope remains despite the unproductive partisanship, tragic cases of senseless violence and threats of terror that we have faced over the last year. The President touched on several issues that have remained priorities for me throughout my career including, criminal justice reform and the eradication of HIV/AIDS. But, I was particularly pleased to hear the President’s focus on giving everyone a fair shot at opportunity and security which is and always has been the center piece of my work.

“As the President explained, the American economy is doing well and anyone denying that fact is simply false. As Ranking Member of the Financial Services Committee, I can attest that since the passage of Wall Street Reform, our financial markets are indeed stable and secure, banks are making profits, lending has increased, unemployment is down and monthly job growth remains consistent. Yet, as the President went on to emphasize, as more and more of our nation’s wealth is concentrated at the very top, we should not pretend that all is well for all Americans. Broad-based, generational and systemic inequities continue to distort progress and opportunity for tens of millions of Americans – most especially low and middle-income Americans and communities of color. So, although the President emphasized that food stamp recipients did not cause the financial crisis, but recklessness on Wall Street did; it is those same food stamp recipients or other low-income Americans that continue to endure its consequences. It is long overdue that we end this unfair burden.

“To do so, the President suggested two ways. First, he recommitted his intention to make college more affordable for all Americans. College is just too expensive, and students across our country should be able to attend community colleges without having to drown in an exorbitant amount of debt just to get a quality education. I agree with President Obama that two years of community college should be free for students to achieve their long-term goals and secure their futures. Every American deserves the right to advance and obtain an education that will create more opportunities. These opportunities turn into careers and good paying jobs that will assist in closing the ever widening gap between the haves and have-nots.

“Second, the President continued to emphasize the need for innovation, entrepreneurship and the importance of small businesses. I have always supported small businesses and increasing the number of small business owners in the country. Small businesses are the backbone of the American economy. They help stimulate the economy by creating jobs, new products and services for cities and communities. This focus falls in line with the President’s long-term goal of ensuring that every American is able to improve the financial security for their families.

“Thus, this year I will continue to introduce reform in the areas of housing, consumer protection, income security, and community development that ameliorate the structural disadvantages that create these inequities that persist along class, racial and ethnic lines in this country. Just as President Obama remains optimistic and positive about our country's future, I, too, remain committed and determined to work hard in Congress to ensure that Americans, from all walks of life, have the opportunity to achieve the American dream. I will continue to fight to implement policies that reduce the wealth gap, provide public housing, work to end homelessness and preserve access to affordable rental housing targeted to low-income families, bolster protections for the investing public, and lower the cost of capital for all American businesses, those large and small. I look forward to bringing forth the extraordinary change that this country needs. ”