historically republicans and democrats have supported. if they had taken all the steps i was pushing for back in september, we would go to put even more americans back to work. we could have sliced through these headwinds more easily. now, since then, in fairness, congress has passed a few parts of that jobs bill. they passed a payroll tax cut that's put more money in every working person's paycheck right now. that's good news. we thank them for it. but they haven't acted fast enough on the other ideas that economists -- independent economists, not me, but folks who study this stuff for a living, say could have put over 1 million more people to work. there's no excuse for that. when so many people are still out there pounding the pavement, sending out resumes, so many families are doing whatever it takes to pay the bills, congress can't just sit on their hands. so my message to congress is, let's get to work.

let's get to work. i know this is an election year. that's not lost on me. but at this make or break moment for america's middle class, we can't afford to have congress take five months off. you've got to keep working. you should -- you're not suddenly just sitting around, not doing anything. you should expect the same thing from your representatives in washington. right? so there are a bunch of things that congress can do right now. let me tick a few off. at a time when our businesses have created more than 4 million new jobs, unfortunately, state and local governments have lost 450,000 jobs. that's been one of the biggest problems in our economy, is all

the layoffs happening at the state and local level. cops, teachers, firefighters, all being laid off. now, those folks provide vital services. they protect us. they're teaching our kids. congress should pass a bill -- congress should pass a bill like i've asked them to do to help states like nevada put americans, those americans who are doing outstanding service for our communities, put those folks back on the job right now. that's something we can do. number two. we know that the housing bubble burst -- here in nevada, the construction industry got killed. right? so i told congress months ago, let's pass a bill to put hundreds of thousands of construction workers and contractors back to work

rebuilding america. rebuilding roads and bridges and new schools for rising populations. that's good for the economy now, it's good for the economy later. there's no excuse for congress to just shrug its shoulders. let's get it done. the housing bubble that burst and helped cause this whole mess is still a major drag on the economy. right now. congress should pass the changes necessary to give every responsible homeowner the opportunity to save an average of $3,000 a year by refinancing their mortgage at today's historically low interest rates. right? i mean, think about it. if you're a homeowner, and you live here in this state, your house very well may be under water.

>> yeah! >> and so it's hard for you to refinance. we did through an executive order a plan that allows those of you whose mortgages are guaranteed by fha to refinance. but we've got to have congress to take additional steps to reach everybody, to reach even more homeowners. these are folks who are paying their mortgage every month, but can't refinance because your home is under water. and let me tell you, i was up in reno last month, met a family. they had refinanced through the program that we set up. and they're getting an extra $250,000 a month. and that makes a difference. how many people here could use an extra $250 a month? and that's good for everybody. that's good for everybody's economy. right? because if you've got that extra money in your pocket, you might help -- that might help rebuild some equity in your home. or you might go spend it on

textbooks or a new computer. and the entire economy gets stronger. so let's give every responsible family that chance. instead of -- all right. here's another thing. instead of just talking about job creators, congress should put their money where their mouth is. give small business owners a tax break for hiring more workers and for paying higher wages. and then with all the veterans that are coming back from iraq and afghanistan, let's make some special efforts there. we should create what we're calling a veterans' jobs corps, because no one who fights for this country should ever have to fight for a job when they come home.

right now, congress needs to extend the tax credits for clean energy manufacturers. those tax credits are set to expire at the end of the year, nearly 40,000 good jobs are at stake, making solar panels and wind turbines and lowering our dependence on foreign oil. so instead of giving tax breaks, billions of tax breaks, to oil companies that are making a whole lot of money, and don't need help, let's double down on a clean energy industry that's rarely been more promising. and is you're seeing it right here in nevada. there's a lot of sunshine out here. we can turn that into electricity and put people back to work in the process. let's make that happen. and while we're at it, it's past time for congress, stop giving tax breaks that ship jobs overseas. give tax breaks to companies that are bringing jobs back to the united states of america.

that are investing right here. all right. so these are auto things we're pushing congress to do. before they go on vacation. but the number-one thing congress should do for you, unlv, right now, is to stop interest rates on student loans from doubling at the end of the month. the clock is running out. you know, in today's economy, higher education can be a luxury. it's an economic necessity. everybody should be able to afford it. but over the last 20 years, the cost of college has more than doubled. it's gone up faster than everything else, even faster than health care costs. we're at a point where the

average student who brose borrows to pay for college graduates with $26,000 in student loan debt. let's face it. some folks graduate with more than that. 50, 75, even 100. together, americans owe more on their student loans than they do on their credit cards. and all that debt -- that means folks are making really tough choices. the it may mean waiting longer to buy a house or starting a family or taking that job that you really want, because it doesn't pay enough. and by the way, michelle and i know something about this. we did not come from wealthy families. we graduated from college and law school, and we had a whole lot of debt. and when we got married, we got poorer together. we sort of added our liabilities together. of course -- you know, look. we were lucky enough to land

good jobs. but even with those great jobs that we had, we only finished paying off our student loans about eight years ago. now, think about that. i'm the president of the united states. it was only about eight years ago that i finished paying off my student loans. so -- i know what a lot of you are going through. i've been there. i have done that. when we were -- when the girls were first born, and we -- were starting to save up for their college education, we were still paying for our own college educations. and we can do better than that. i don't want that future for young people. >> that's right! >> so that's why my administration has already taken a bunch of steps. we fixed a broken student loan system that was given tens of billions of dollars to big banks, and said let's give that

money directly to students. use that money to afford college. that's why we strengthened aid, like pell grants for low-income students. that's why we set up a new consumer watchdog agency called the consumer finance protection bureau, and it's not working with the department of education to give students and their parents access to a simple fact sheet on student loans and financial aid. because everybody has got to be well-informed. we call it know before you owe. know before you owe. don't be surprised, you know. two weeks from graduation, you look up and -- whap. you have jut got hit up side the head. on tuesday, college presidents from across the country came together and agreed to provide clear information about costs,

financial aid and payments to all incoming students starting next year. so that's good news, all right? but we've got more to do. so today, i've directed my education secretary, and my treasury secretary, to make it easier for millions of students with federal loans to afford their loan payments. and that includes some of you. this is -- this is a program that more people need to know about. and we're going to start doing more advertising about this. because this is really important. for those of you who are still in school, you're about to graduate, as long as you make your monthly payments on time -- so pay your bills on time, we will cap the payments you have to make on your student loans at 10% of your discretionary income once you graduate. 10%. so -- and this is a big deal.

because no matter what career you choose, if you decide you're going to be a teacher or you're going to be a social worker or the nonprofit sector, you'll still be able to stay current on your loans. so these are all the things we've already done. but understand. this isn't going to make much of a difference if the costs -- underlying costs of college keep going up faster than everything else. so everybody has got to do their part. colleges and universities, they need to do their part. i've told congress, let's steer federal aid to schools that are doing a good job keeping tuition affordable and provide good value and serve their students well. you know, the -- if you're getting federal student loans, colleges and universities, you shouldn't just be loading up a whole bunch of debt on your students. you've got to figure out how are you working to make sure they can afford their education. states have a role to play. i know we -- i see some of my buddies from the state

legislature here. right now, the amount of money that state and local governments invest in their college students is at a 25-year low. spending a lot of money on prisons. spending a lot of money on other stuff, but we're not spending enough to make sure that tuition stays affordable. that's one of the reasons that tuition has gone up so fast. if states can find smart new ways to keep costs down, make it easier for more students to graduate, then we're going to help them do it. so everybody has got to do their part. colleges, universities, the states, my administration. and, yes, congress. congress has got to do their part. i warned over a month ago -- i even went on jimmy fallon to say this. if congress doesn't act by the end of -- by the end of this

month, by july 1st, interest rates on federal student loans will double overnight. that means the average student with those loans, including 8,000 students right here at unlv, will rack up an additional $1,000 in debt. that's like a $1,000 tax hike for more than 7 million students. how many people can afford to pay an extra $1,000 if you're a student? >> no. >> just because congress can't get its act together? that makes no sense. this is a no-brainer. so i just said to congress, get this done. get it done. get it done. this is not -- this is not complicated. last month, democrats in the senate put forward a plan that would have kept these low rates in place. wouldn't have added a dime to the deficit. the senate republicans got together, they blocked it. they said no. house republicans voted to keep your rates down, only if we

agreed to cut things like preventive health care for women. so -- that's not a smart thing to do. there are folks on the other side who are coming up with all sorts of reasons why we should just go ahead and let these rates double. one of them compared these student loans to stage three cancer of socialism. i don't know what that means, exactly. the ideaed that we -- my grandfather went to school on the gi bill. there's a long tradition of us helping people get a good education, because we know that it makes everybody richer. it makes our entire country more competitive and stronger. you know, the -- some of these folks in congress, they were saying we're just talking about student loans to distract from the economy. i guess they don't get, this is the economy. helping you get the skills that businesses are looking for,

that's one of the best things we can do for the economy. making college affordable! that's one of the best things we can do for the economy. putting opportunity within the reach of everybody. no matter what you look like or where you come from. that's what america is about. these guys say that students like you should pay more. so we can bring on the deficit, they say. now, keep in mind, they ran up this deficit for over a decade. now they want to cut loans to students while giving tax breaks to oil companies and folks like me who don't need tax breaks. they voted to lettel millionaires and billionaires keep paying lower taxes than middle class workers. they voted to give an average tax cut of at least $150,000 to every millionaire in america,

but they want you to pay an extra $1,000 a year for college. >> it's crazy! >> doesn't make any sense. [ booing ] >> it's wrong. >> wrong! >> that's wrong. look, here in america, we admire success. that's why a lot of you are going to school. would e work and study for it. and if folks don't want to help themselves, we can't help them. >> right. >> but america is about more than just protecting folks who have already done well. it's about giving everybody a chance to do well. it's about hard work and responsibility being rewarded. it's about everybody having the chance to get ahead, and then reach back and help somebody behind you, so that everybody has a chance. that's what makes us strong. that's what makes us strong. so -- so if you agree with me, i need your help. some of these folks in congress

are a little stubborn. so i need your help. you've got to tell congress, don't double my rate. call them up, e-mail them. post on their facebook wall, tweet them. you know, we've got a hashtag, don'tdoublemyrate. never forget that your face matters. i know sometimes it seems like washington isn't listening, and frankly, congress sometimes isn't. but we're talking about issues that have a real impact on your lives. real impact on your futures. making education more affordable. that's real. making homes more affordable. making it a little easier for you to make your mortgage payments. that's real. building an economy that works

for everybody. that's real. so i need y'all to stand up. i need you to be heard. tell congress now is not the time to double the interest rates on your student loans. now is the time to double down on the middle class. now is the time to build an america that lasts. now is the time to work together to put people back to work and strengthen our housing market, and help our veterans. let's get this done! let's remind the world why the united states of america is the greatest nation on earth! thank you, las vegas! god bless you! god bless america! ♪

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♪ this is president obama's second trip to nevada in less than a month. both the president and republican presidential candidate mitt romney are making nevada and its six electoral college votes the priority. mitt romney outraised president obama in may. it's the first time the republican challenger has jumped ahead of the president. mr. romney and his party raised more than $76 million last month, according to his campaign. and president obama's campaign reported that it and the democratic party raised $60 million for the month. the annual radio television congressional correspondents din certify tomorrow night. house speaker john boehner and comedian wayne brady are the featured speakers.

live coverage starts tomorrow night at 9:00 eastern on c-span. mr. gorbachev, tear down this wall! >> sunday night at 9:00 eastern and pacific, on american history tv, mark the 25th anniversary of president ronald reagan's 1987 speech from the brandenburg gate in west germany. also this weekend on c-span 3, our series, "the contenders," 14 key political figures who ran for president and lost, but changed political history. this sunday at 7:30, james blaine, american history tv, this weekend on c-span 3. the house homeland security subcommittee on transportation security held a hearing today on tsa improvement in security and customer service. chairman mike rogers of alabama says the department is bloated. and administrator john pistol testified about steps taken to make the agency more efficient. this is about an hour, twenty

five minutes. [ banging gavel ] >> this hearing of the committee of homeland security subcommittee on transportation security will come to order. the subcommittee is meeting today to examine efforts to fix its poor customer service reputation and become a leaner, smarter organization. i want to thank everyone for being at this hearing, and i want to thank particularly mr. pistol, the administrator, for being here. sir, you've got a tough job. and we appreciate your service. i think we can agree that every person in this great country of ours has the right to criticize and complain about tsa. but what sets you and i apart from those that just want to criticize the tsa is that we have the obligation to fix the mess. i know for a fact how dedicated you are to our security and your distinguished service to our nation.

but the fact is, over the last two years, progress at tsa has come at a snail's pace, and in some ways, has gone backwards. it's not enough that the agency is becoming more risk-based. the american people need to see immediate changes that impact them. for example, while the precheck program has gotten off to a successful start, we're talking about something that does not benefit most of the average travelers. so let's start talking about what we can do to fix the broken and outdated policies that do affect most people. on monday, congressman walsh and i visited chicago-o'hare airport. we met with travelers afterwards to discuss their thoughts on tsa. the overwhelming majority of those that attended the meeting expressed frustration that ten years after 911, the tsa is still collecting pocket knives, it's still collecting water bottles, it's still collecting pill cutters with razor blades. and, of course, the