Obama to tackle health care, Wall Street issues

September 13, 2009 8:46:39 PM PDT
Pres. Barack Obama says he's convinced he will get a good health care bill passed, but his hopes for the so-called 'public option' have faded more.Polls show the president has gained momentum in the health care debate, and he accused some republicans of trying to defeat the plan for political gain.

Sen. Olympia Snowe of Maine may be the only Republican senator who votes with Democrats, and Sunday, she pronounced the public option dead. Its possible successor to provide insurance companies with competition: non-profit co-ops owned by policy holders.

The president acknowledges the importance of getting health care right.

"I own it, and if people look and say, 'You know what, this hasn't reduced my costs. My premiums are still going up 25 percent. Insurance companies are jerking me around.' I'm the one who's going to be held responsible," Obama told 60 Minutes.

The president will have another rally for his plan Thursday.

In the mean time, Obama travels to Wall Street Monday, where he'll speak one year after investment bank Lehman Brothers collapsed.

Federal officials decided against bailing out Lehman Brothers, and the bank's collapse helped trigger what's now called the Great Recession. Since then, the nation has lost 5.83 million jobs, and the value of the average existing home has fallen by an average of 15 percent.

However, the stock market has recovered two-thirds of its 5,000 point plunge. The president will tell Wall Street that the economy is improving, but tougher financial regulations are needed.


Load Comments