Obama to discuss financial crisis anniversary Monday
September 14th, 2013
02:11 PM ET
9 years ago

Obama to discuss financial crisis anniversary Monday

WASHINGTON (CNN) - President Barack Obama will deliver remarks in the Rose Garden on Monday to mark the five-year anniversary of the collapse of Lehman Brothers, which triggered a massive, nationwide financial meltdown.

A White House official said Obama would discuss his record on creating jobs during the first five years of his presidency, as well as his administration's continued efforts to bolster hiring. The unemployment rate currently stands at 7.3% - far lower than when Obama took office in January 2009, but still high compared to historic levels.

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The lower unemployment rate also reflects millions of Americans who have either given up looking for work, or who have taken part-time or lower paying jobs.

Obama's remarks will also come less than a month ahead of an anticipated budget showdown with Congress. The measure providing funding for the federal government expires at the end of the month, and a battle is expected between the White House and Republicans on Capitol Hill who disagree on how to reduce the federal debt. Another deadline in October, this one on increasing the federal debt ceiling, is also set to pit Republican lawmakers against Obama.

The White House official said Saturday the president will warn against more "self-inflicted wounds from Washington" during his event Monday.

Obama will be joined on-stage and in the audience by people the White House says have benefited from his economic recovery proposals over the last five years.

soundoff (13 Responses)
  1. Name jk. Sfl. GOP conservatives,the garbage of America.

    The GOP has been trying to sabatuage the economy for the last five years to make Obama look bad . You failed, Obama did the come back on his own WITHOUT GOP help!!!!!

    September 14, 2013 02:27 pm at 2:27 pm |
  2. Woman In California

    Inauguration: yell hate.
    Creating jobs: yell hate.
    Children eating healthier: yell hate.
    Healthcare: yell hate.
    Stock market: yell hate.
    Sensible gun laws: yell hate.
    Immigration reform: yell hate.
    Racial profiling: yell hate.
    Fighting terrorists: yell hate.

    Hate, hate and more hate. This is ALL the g.o.p. has offered this country since THIS president came into the office. I, for one, have had more than enough of this–and the president's speech will be yet another opportunity for a rightwing hate convention. No solutions but plenty of good old fashioned, bring your own hate to the party.

    We can do better than this America and we should starting in 2014. Let's get to the polls and take our country back. Back from the hands of those who mock our government, cheer for foreign leaders when they disrespect our president and lean towards gods of money instead of helping the people. These newly elected people don't have to necessarily share the president's views or even like him, but what they should be willing to do is compromise and respect the office of the POTUS regardless of party affiliation. No intelligent parent or American citizen could be proud of what we're witnessing and if you are, SHAME ON YOU. Hate is not helping this country move forward and in the end, will only cost more lives, loss of jobs and human dignity. Please vote to change things. Change things we must.

    September 14, 2013 02:45 pm at 2:45 pm |
  3. Jeff Frank (R-Ohio) "Right Wing Insanity"

    Hey Barack, why not a few words of wisdom regarding stunted and collapsing 401k plans.

    September 14, 2013 02:46 pm at 2:46 pm |
  4. Zolicon

    5 years and they have not gotten past the drawing board stage.

    September 14, 2013 02:55 pm at 2:55 pm |
  5. ThinkAgain

    We need to bring back Glass-Stiegel.

    September 14, 2013 03:08 pm at 3:08 pm |
  6. ED1

    Why your party has done nothing about it just waiting for the Republicans to send you another budget so you can stamp it DOA like all the others for the past 5 years.

    The blame lays with the out of control spending Democrats because all they want to do is get everyone hooked on the government supporting the Americans who voted them you know the 49% of the people getting handouts.

    September 14, 2013 03:44 pm at 3:44 pm |
  7. Jeff Frank (R-Ohio) "Right Wing Insanity"

    Obama wants to revel in jobs created? I will challenge anyone to explain in a public forum how if the government can take wealth away, redistribute wealth, then how can it create wealth. Because it hasn't, it can't, and never will.

    September 14, 2013 05:29 pm at 5:29 pm |
  8. Thomas

    It just seems like yesterday , GW Bush saying the American economy is strong ,

    September 14, 2013 05:34 pm at 5:34 pm |
  9. rs

    This anniversary is the one the American voter need to remember: on 2007 on this date the bottom dropped out of the market. For most of us, our carefully groomed 401 k accounts lost 35-50% value. Jobs tanked shortly thereafter. The good news is that despite the GOP's recklessness with banking regulations, and an unpopular bailout for the banks, the market is back and retirement and savings accounts are positive again. Sure, there are 5 lost years we'll never get back. We need to remeber the party that brought down unemployment, and provided the conditions that healed the market- Obama and the Democrats. We need to remember who crashed the economy and passed anti women's rights bills and anti-civil rights bills while the economy was down- the GOP.
    They were lousy leaders then, and they show no evidence of having changed.

    September 14, 2013 06:49 pm at 6:49 pm |
  10. Name jk. Sfl. GOP conservatives,the garbage of America.

    Just a good idea to remains every body who really financealy rapped our country. The GOP with their total incompetents and obstruction to keep us from bouncing back and their still doing it. How could anybody vote for the GOP except if your the 1%????? One% of the vote for the GOP sounds good to me !!!!!!

    September 14, 2013 07:34 pm at 7:34 pm |
  11. Ron L

    I hope the President talks more about the future of the country instead of it's turbulent recent past. I am hoping he discusses what I call the WHATS AMERICA GOING TO DO LIST...
    1) What is America going to do about the minimum wage that is 20% lower than the minimum wage of 30 years ago?
    2) What is America going to do about college tuition that is rising 7 to 10% a year when inflation is rising only 2%?
    3) What is America going to do about the crumbling infrastructure that is 50 to 100 years old?
    4) What is America going to do about the unreasonable cost of health care services?
    5) What is America going to do about the CEO of a company making $40 million a year when it's worker make $8.00
    an hour and have difficulty in being scheduled 40 hours a week?
    6) What is America going to do about that same CEO having so many loop holes in the tax code that he pays a lower
    percentage of taxes than an American making $60,000 a year?
    7) What is America going to do about the influx of money that is skewing our political process?
    8) What is America going to do the help the so called AMERICAN DREAM become available for most of us, like it was
    25 years ago, instead of just a very, very, few like today?
    I am 58 years old and our country is in REAL TROUBLE because the very things that made us "exceptional" are dissipating into nothingness. Our NEWS MEDIA is failing us because they are more interested in what a politician "thinks or says" instead of what they "accomplish". It is heartbreaking because so few of us realize it is happening.
    In closing I would like to say I have been in a union and I have had to fight with unions when I was in management. Here are the facts, as union membership went down two things happened: average American wages went flat and CEO pay went up 10 to 20% per year. There is strength in numbers and it is the ONLY THING large corporations respect and FEAR!!!

    September 14, 2013 07:37 pm at 7:37 pm |
  12. king

    i dont care what the repubs say, they are just mad as hell that the president
    they fought so bad to destroy, might be called one of the greatest president in american history. they are trying like hell to kill his legacy with lies and lies and lies. i wonder if we had one of those tea party folks came in, when everything was falling off a cliff, where would we be right now. the first thing they would have shouted is small government, and kick everyone off fed programs, while local businesses starved for spenders. they would have taken the money from the poor and give it to the rich and tell them to do what they please in a free market system. the rich would have looked around and see no one with money to buy their goods and ship their businesses to china and India.

    September 14, 2013 08:51 pm at 8:51 pm |
  13. rs

    Jeff Frank (R-Ohio) "Right Wing Insanity"
    Obama wants to revel in jobs created? I will challenge anyone to explain in a public forum how if the government can take wealth away, redistribute wealth, then how can it create wealth. Because it hasn't, it can't, and never will.
    Nonsense- the Right loves its corporate socialism- the redistribution of tax dollars to the oil industry, corporate farms, and the 1%. It "works" for you then, righT?

    Meanwhile- Obama has no redistribution plans- unless you buy the GOP lie that the ACA (their plan BTW) is "socialism". How is getting people to do the responsible thing (buying health insurance coverage from Insurance corporations) anything but Capitalism?

    September 15, 2013 02:38 pm at 2:38 pm |