Political Ruminations

Full Text Transcript of Obama Financial Speech in Durham New Hampshire June 25

Full Text Transcript of President Obama’s Speech in Durham, New Hampshire on June 25, 2012

THE PRESIDENT: Hello, New Hampshire! (Applause.) Hello, Durham! (Applause.) Thank you. Thank you so much. Thank you, everybody. It is great to be back in New Hampshire. (Applause.)

A couple of people I want to acknowledge. First of all, wasn't Scott outstanding? Give Scotty a big round of applause for his introduction. (Applause.) I want to thank Todd Allen, who is the principal here at Oyster River High School. (Applause.) And I want to thank our outstanding Senator from New Hampshire, Jeanne Shaheen. (Applause.) And I want to thank all of you. (Applause.)

I know it's a little warm in here. (Laughter.) That’s okay. That's okay. It is wonderful to be back. And I just have so many good memories here in New Hampshire, and I see some familiar faces and folks who were with me when people were still figuring out how to pronounce my name. (Laughter.)

Morning Quote: President Obama and Mitt Romney on Paying for a College Education

Mitt Romney tells young people to borrow money from their parents to get a college education or start a business, because, you know, only those who have parents with the means deserve to get a hand up:

“ This kind of divisiveness, this attack of success, is very different than what we’ve seen in our country’s history. We’ve always encouraged young people: Take a shot, go for it, take a risk, get the education, borrow money if you have to from your parents, start a business.”

Mr. Silver Spoon Romney doesn’t seem to understand that in these days of raging income inequality, most parents don’t have the money to provide a college education for their kids. And, most parents can’t afford to loan their kids money to start a business. They spend most of it simply surviving.

But, Mr. Romney doesn’t get those simple basic facts because Mitt Romney has never had to struggle financially for a single day in his entire life.

President Obama gets it. He and First Lady Michelle Obama did not grow up with the proverbial silver spoon, and had to see to their own educations by taking advantage of student loans and scholarships:

“ I'm only here today, and Michelle is only where she is today, because scholarships and student loans gave us a shot at a great education. That’s how we succeeded.”

“[.....]We’ve got to make college more affordable for more young people. We can’t put the middle class at a disadvantage. We can’t price out folks who are trying to make sure that they not only succeed for themselves but help the country succeed. We can’t price the middle class out of a college education.We can’t do it -- especially when most new jobs in America will require more than a high school diploma. Higher education whether it’s at a four-year institution or a two-year program at a community college -- it can’t be a luxury. It’s an economic imperative every family in America should be able to afford. ”

UPDATE: A new program instituted under President Obama is a huge, huge, huge boon to people who use student loans to get through college. You can check it out here.

Video and Text Transcript: Speech by President Obama on College Affordability in Iowa

Watch the video or read the text transcript below the video:

Read the text transcript:

University of Iowa
Iowa City, Iowa
Wednesday, April 25, 2012

THE PRESIDENT: Hello, Hawkeyes! (Applause.) It is good to be back in Iowa! (Applause.) Can folks please give it up for Blake for that outstanding introduction? (Applause.) And I want to thank the University of Iowa Pep Band for firing everybody up. (Applause.)

There is some good hospitality here, and I should know. I spent a little time here in Iowa, spent a little time here in Iowa City. I’m glad that my hometown of Chicago will get to return the hospitality when your football team kicks off its season at Soldier Field. (Applause.)