Weekly Addresses: Nominees, Budgets [VIDEO]
President Barack Obama says his picks for two top posts will crack down on those whose irresponsible behavior threatens the U.S. economy and the middle class.In his weekly radio and Internet address, Obama praises his nominee to lead the Securities and Exchange Commission, Mary Jo White, and his pick for the Consumer Financial Protection Bureau, Richard Cordray.
Obama says White, a former federal prosecutor, will help reform Wall Street. He says Cordray will be a champion for American consumers and is imploring the Senate to confirm him.
Obama installed Cordray last year through a recess appointment after Senate Republicans opposed his nomination.
In the Republican address, South Dakota Sen. John Thune says the Senate must pass a budget that addresses out-of-control spending to stave off another credit-rating downgrade.
“It’s been almost four years since the Democrat-led Senate passed a formal budget,” said Thune. “The last time Senate Democrats passed a budget, the iPad didn’t even exist.”
He also touched on the fiscal battles that are coming up for Congress & the President and believes entitlements must be part of the discussion. “These programs are in trouble, and they’re on an unsustainable path,” he said. “Social Security began running a deficit in 2010, and without meaningful reform, Medicare will be bankrupt by 2024.”