President Obama: The economy, the Congress, the future

Obama: Let me stop you there, Steve. First of all, there's not a general perception that the stimulus didn't work. You've got John McCain's former economist and a whole series of prominent economists, who say that it created or saved three million jobs and prevented us from goin' into a Great Depression. That works. So that's not true.

It is true that some people have argued, given the magnitude of the crisis we were in, we should have done an even larger Recovery Act. And then, I'm bumpin' up against the realities of Congress, which is this Recovery Act was twice as large as most people thought was even possible.

The recurring challenge is always gonna be, even if we've done the right things, if people's reality right now is still difficult, they're gonna be frustrated. And they should, because I'm frustrated. The question in the election--

Kroft: And they hold you equally accountable with the Congress.

Obama: And the question next year is gonna be -- and this is how a democracy's supposed to work -- do they see a more compelling vision coming out from the other side? Do they think that cutting taxes further, including on the wealthy, cutting taxes on corporations, gutting regulations...Do we think that that is gonna be somehow more successful?

And if the American people think that that's a recipe for success and a majority are persuaded by that then I'm gonna lose. But I don't think that's-- I don't think that's where the American people are gonna go, because I don't think the American people believe that based on what they've seen before, that's gonna work.

Kroft: Why do you think you deserve to be re-elected? What have you accomplished?

Obama: Not only saving this country from a Great Depression. Not only saving the auto industry. But putting in place a system in which we're gonna start lowering health care costs and you're never gonna go bankrupt because you get sick or somebody in your family gets sick. Makin' sure that we have reformed the financial system, so we never again have taxpayer-funded bailouts and the system is more stable and secure.

Ending Don't Ask, Don't Tell. Decimating al Qaeda, including Bin Laden being taken off the field. But when it comes to the economy, we've got a lot more work to do. And we're-- we're gonna keep on at it.

We also asked President Obama why there have been no prosecutions of Wall Street executives, about the failure to reach an agreement on deficit reduction and the Republican candidates who are after his job. All of that when we come back.

In a wide-ranging conversation Friday morning, President Obama discussed everything from the sins of Wall Street to his handling of the deficit negotiations with Congress.

At the heart of our conversation were questions about the effectiveness of his leadership that have been raised not just by Republicans, but by Democrats as well. We also talked about his chances in the upcoming election in the face of some grim public opinion polls, and his thoughts about the Republican challengers.

We start with Wall Street, where President Obama has laid the blame for the country's economic meltdown.

Steve Kroft: One of the things that surprised me the most about this poll is that when asked who your policies favor the most, 42 percent said Wall Street. Only 35 percent said average Americans. My suspicion is, some of that may have to do with the fact that there's not been any prosecutions, criminal prosecutions, of people on Wall Street. And that the civil charges that have been brought have often resulted in what many people think have been a slap on the wrist, fines. Are you disappointed by that?

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[recaedpowel]

Most people tend to take out a mortgage, then forget about it. The monthly payments go out from their accounts every month, but they probably couldn't tell you what the interest rate was if you asked! This is slack financial policy - it is easy to make sure you always have the best mortgage rate, and therefore pay the least interest. And believe me, over the years, even a fraction of a percent reduction in interest rates means big savings!

http://www.reversemortgagelendersdirect.com/manufactured-homes-reverse-mortgage/
http://www.reversemortgagelendersdirect.com/hud-reverse-mortgage/
http://www.reversemortgagelendersdirect.com/reverse-mortgages-pros-and-cons/

[marilyn4886]

It doesn't surprise me anymore at how rude these interviewers are to our president, he has accomplished winning this office and all they can do is ask why he hasn't fixed what the mess the Republicans made. He is half black so I guess they feel they can talk down to him. I do get impressed at the way he handles it always being polite, I hope he doesn't start verbalizing his regrets because we will see it on the Romney ads these coming months. Maybe Obama is a legend in his own mind but he was the right president at that time when we were falling apart.

[Hislovestreet]

Wow, it's time for the world to see the homeless situation as it really is as many are one pay-check away from being there as well. Let's stop blaming the President, Democrats or Republicans but pull together as the great and bless nation we are and have been. Last year here in Denver, Colorado we had two men freeze to death in parks due to no place to shelter themselves.

When God, gave me this vision of His Love Street Hotel, I seriously thought that many would pitch in and help but, most did not want to get involved as they said we have no extra cash to help. Then last week I read that Americans was spending twice as much on Restaurants and just today that the Power-ball drawings revenue for tonight's drawing was over a billion dollars in sales.

What I am trying to state here is just think if we would only invested a half of tonight's sales from the lottery I could open three hotels and employe and help thousands obtain a home of their own. Please search your heart, http://Hislovestreet2012.com/

[juliesky]

I was disappointed and concerned about both the tone and obvious negative bias of Steve Kroft in interviewing President Obama. It is important to show respect and be a role model. Unfortunately, the leading questions and questions that already included a negative view were uncalled for. Mr.Kroft needs to be reminded and given counseling on how to give a respectful unbiased interview.

Fortunately President Obama did not get pulled in by the tricky questions and maintained a positive and intelligent demeanor throughout. He also maintained dignity, integrity and clarified the misinformation that Mr. Kroft put forth. President Obama is a very fine person and president and should be acknowledged for that.

Now, the news is misinterpreting the President's comments on his accomplishments to create misleading headlines and more negativity. I wish for our society to grow in creating a respectful,accepting and peaceful interactions even when there is disagreement. I hope CBS and 60 Minutes will do better in the future.

[glass_cut_r]

Obama: A legend in his own mind. A narcissistic Mussolini type. He's no Roosevelt, Johnson or FDR and foreign leaders laugh at him.

[blancokat2]

I was appalled at the arrogance of Steve Kroft. His rudeness in speaking to the president was outrageous. No matter what your political leanings, there is need for a respect for the office of the president. Speaking over President Obama and interrupting him are inexcusable even for an "investigative" reporter as Steve Kroft considers himself to be. There was a 75-year old government contractor retiree, a 27-year old social worker and a disabled female veteran in the room watching and every one of us was upset at the lack of manners displayed. Surely, CBS can find someone with manners and a sense of respect instead of this boorish display of ego.

[billtxxus]

Questions I would have liked Steve to ask:

Why arent we reducing our military footprint around the world. Do we still need 20 air craft carriers, the rest of the world combined has 6, do we still need 75K troops in Germany, 45K troops in Japan, 20 nuclear missle subs ? These are all essential for our defense ? 15 air craft carriers wont suffice ?

Why arent we exploiting US natural gas to reduce the money we send to OPEC ? Jimmy Carter wanted a national energy policy, 30 years later we still dont have one.

The reason unemployment is so high is that we have an under-educated country. Too many drop outs, too many bad schools because rich suburbs dont care if inner city schools are failing. That failure weighs down the economy and hurts everyone.

Why arent these topics being discussed, instead the partisan bickering over Medicare, and taxes ?
The real problem is that this country is becoming uncompetitive in the world because we wont even talk about the real issues.

[Pam-Rosales]

Why does he continue to divide our country? His first 2 years were back by an all-democrat congress, yet he says republicans sat on his ideas so the economy would fail. WRONG. His ideas were pushed through by democrats and that's why he got a "shellacking" two years later, and why our debt is astronomical. As long as he refuses to see the truth and continues to divide the country, we don't dare vote him in again.

[bill_here]

This is such a nonsensical comment as to not warrant a reply but, call me a wild-eyed optimist - here goes.

The Republicans declared a scorched Earth policy with regard to Obama almost before he walked into the WH. The Republicans declared their 1st Priority was to make Obama a one term president. The Republicans have been pursuing a Politics of Destruction - they have filibustered everything the President and the Democrats have tried to do to repair the economy from the Republican's TRICKLE DOWN - DEREGULATION DISASTER (initiated in 2008) - the greatest economic disaster to befall our country since the First Great Depression.

For a good article on the Republicans Politics of Destruction read: "Why Washington is tied up in Knots" (Time magazine http://www.time.com/time/magazine/article/0,9171,1966451,00.html )

As for Congress being Democratically controlled, they have had more than 50 Democrats which ordinarily means you should be able to pass whatever legislation you want. BUT THE GOPERS HAVE BEEN FILIBUSTERING EVERY PIECE OF LEGISLATION INTRODUCED BY THE DEMS TO REPAIR AND REBUILD THE ECONOMY FROM THE DAMAGE OF THE TRICKLE DOWN DISASTER. THE DEMS NEVER HAVE HAD THE 60 VOTES NEEDED TO GET CLOTURE - (bringing consideration of endless amendments to a close forcing a vote on the bill).

This is why the President has said "It shouldn't take 60 votes to get something passed in the Congress."

Now, I understand how you are unaware of this because nobody in the M$M (as far as I know) has whispered the word 'filibuster' since Obama came into office. So almost none of the voting population knows about The Republicans' Politics of Destruction.

I invite ANYBODY FROM CBS TO SPEAK UP ON THE "MUM ON FILIBUSTER" STATEMENT I MADE. THE CHALLENGE STANDS. DID ANYBODY FROM CBS NEWS MENTION THE WORD FILIBUSTER AT ANY TIME SINCE OBAMA CAME TO OFFICE?

....Any takers??

[glass_cut_r]

Agree 110%.

[bill_here]

Kroft said: "And they hold you equally accountable with the Congress"... wait a minute. Are you saying Steve, that people are holding Obama responsible for Republican 'burn the crops in the fields' brand of politics?

Well, that's pretty amazing... Obama forced the Republicans to fight any and all progress that the Obama and the Democrats might make in rebuilding the economy from the Trickle Down - Deregulation Disaster. IS that what you are saying Mr Kroft??? Well, if that's the case then America is indulging itself in some kind of national insanity then.

The Republicans have been using the threat of filibuster and filibustering by amendment everything that Obama and the Democrats have been trying to do. The Republicans got Obama to down-size the orginal stimulus bill (ARRA) by converting 38% of it to tax cuts - as the price of their cooperation in letting it pass. Of course, at the outset of a depression people who are not certain of their job security are not going to go out a spend any extra after tax income they get. People willl use any tax cut to reduce debt and save the rest. This is why the Republicans demended the 38% of the ARRSA be converted to tax cuts. Because they knew it wouldn't be stimulative.

This REPUBLICAN DYSTOPIA is the result of the RED STATE BRIGADE succeeding in forcing Obama to down-size all his stimulus efforts under the threat of the Republicans making matters even worse - shoving us into a full blown, bread lines depression - like their first one.

[bill_here]

Kroft says: "Isn't it your job as president to find solutions to these problems, to get results, to figure out a way to get it done?"

This is good, Steve. I like how you pretend to be so ignorant that you don't know what the Republicans have been doing. I know nobody in the Corporate media has uttered the word "filibuster" since Obama took office - but some have talked about it.

Let me recommend, Steve, that you read Peter Beinart's excellent article "Why Washington is tied up in Knots" in Time magazine
( http://www.time.com/time/magazine/article/0,9171,1966451,00.html )

I quote:

"In Clinton's first two years in office, the Gingrich Republicans learned that the vicious circle works. While filibusters were occasionally broken, they also brought much of Clinton's agenda to a halt, and they made Washington look pathetic. .... In another, Republicans filibustered legislation that would have applied employment laws to members of Congress — a reform they had loudly demanded."

and..."In 2009, Senate Republicans filibustered a stunning 80% of major legislation, even more than during the Clinton years. GOP leader Mitch McConnell led a filibuster of a deficit-reduction commission that he himself had demanded. The Obama White House spent months trying to lure the Finance Committee's ranking Republican, Chuck Grassley, into supporting a deal on health care reform and gave his staff a major role in crafting the bill. But GOP officials back home began threatening to run a primary challenger against the Iowa Senator. By late summer, Grassley wasn't just inching away from reform; he was implying that Obamacare would euthanize Grandma."

Steve, you want to pretend you forgot that almost before Obama walked intothe White House the Republicans declared their FIRST PRIORITY WAS TO MAKE OBAMA A ONE TERM PRESIDENT. THEY DECLARED A "SCORCHED EARTH" policy in their WAR ON OBAMA (and the U.S. people).

Now, this SCORCHED EARTH POLICY - is the same policy employed by Pol Pot's Khmer Rouge who burned crops in the fields to add famine to the mayhem they created to facilitate their seizure of power in Cambodia. Our RED STATE BRIGADE is using the politics of desctruction as did the Khmer Rouge only they are laying waste to the livelihoods of milliions of Americans.

you want to pretend Steve that you don't know the Republicans have been conducting this Scorched Earth policy of sabotaging anything Obama and the Dems have tried to do to rebuild the economy from the TRICKLE DOWN - DEREGULATION DISASTER that Republican policies hath wrought.

For Obama to get the Red State Brigade to participate in rebuilding the AMerican economy he would have to be the second coming. It's an insult to viewers intelligence for you to pretend Obama can - say the words and 'have it done' in Washington.