that will be likely if we are going to understand how states do think. steve's answer is yes. with that, i would like to thank everyone for this traffic event. please join me in 31st, theriday, the last day in may. graduation scenes are winding down across the country, but once again, tonight and tomorrow night on c-span we will be bringing you commencements from across the country. in just a moment, we will show you robert muller speaking at the college of william and mary. after that, fed chairman ben bernanke and then governor martin o'malley of maryland. the governor rick scott, followed by attorney general

eric holder at the university of california, berkeley. newtown, up with the conn. selectmen speaking at sacred heart university. we also want to give you the opportunity to weigh in on facebook with your advice for the graduates of 2013. what advice would you give to the graduating class? a couple of postings already. matt says ben bernanke is an enemy of the u.s. population. richard asks what school is stupid enough to have a cripple eric holder give a commencement like eric holder give a commencement speech. again, you will have a chance to weigh in. we will read some of those postings' throughout the evening.

is our site.-span robert muller is the outgoing fbi chairman. he will have been fbi chair for some 12 years. president obama will soon name a new nomination to head the fbi. he spoke a few weeks ago at the college of william and mary in virginia. he is introduced by former defense secretary robert gates, who is now the chancellor of the college. [applause] >> thank you. i have to say here at the outset that there are two disadvantages to being chancellor of the college. march inat i get to behind the 7 foot tall rector, and the other is the regalia. which i have described as a unique blending of academic

medieval tradition and lady gaga o. [laughter] [applause] as someone who served as a university president, i know very well the stresses and demands of the position, so take it from me that we are fortunate that taylor first took the job five years ago under difficult circumstances and then agreed to reenlist last year. [applause] to the class of 2013, having passed the last exam, turned in the last paper and pay the last , you have now survived one of the most rigorous educational experiences

in the world. well done. [applause] in doing so, you have had the experience not only of a first- rate academic education, but the very special opportunity to be part of an institution rooted in the earliest history and fundamental governing principles of the united states. indeed, it is impossible to be a student here and not feel the weight of that history. i certainly did walking these grounds more than 50 years ago. and i hope that you, as i did then, also feel the weight of responsibility as well. as a graduate of one of the world's premier colleges and universities and as a citizen of this country. there is probably no greater living example of this principle and its associated virtues, burdens and rewards than the man we honor and hear from next,

robert mahler. -- robert mueller. i choose my words carefully, because it is never a good thing to get on the wrong side of the fbi director. legend has it that j. edgar hoover had a rule that all fbi memorandum must have very wide margins to allow enough room for his notations. after reading one document, he wrote on it, watch the borders. he later learned that his subordinates had sent several hundred agents in the directions of mexico and canada, when he had simply been referring to the memo's margins. bob's staff would not be intimidated into asking for clarification. i have known and worked with robert mueller for more than a decade. i was a texas a&m when, in the wake of the september 11th the tax, he reached out to

university leaders to find -- september 11th attacks, he reached out to university leaders to find ways to increase safety without hampering freedom. a constant theme of his life has been his willingness time and again to forgo more comfortable and lucrative avenues in order to serve his country. as a graduate of princeton, and why you and the university of virginia, -- new york university, and the university of virginia, he did something unusual for our generation, which was to volunteer for military service during the height of the vietnam war. it took uncommon courage and patriotism. to be a united states marine with a name like robert swan

mueller iii, well, that took some toughness too. it is telling that bob give up a partnership in a blue-chip law firm to work in the criminal division of the u.s. attorney's office in washington, d.c. in addition to absorbing what had to be a massive pay cut, he also agreed to a position with considerably less rain, power, and prestige than the what -- rank, power and prestige than the one he had held in the justice department just a few years earlier. at the time, too many young men were being killed in the streets of our nation's capital, and he was determined to do something about it. he was time later, confronted with the horror of 9/11. i know how hard it is to transform the mission of large and proud institutions. on september 12th, 2001, and no

one would have predicted that america would go more than a decade without another major terrorist attack. that we did is an enormous credit to robert mueller and as he would be the first to say, to the men and women he leads that the fbi. william and mary is honored to have him as our 2013 commencement speaker. ladies and gentlemen, the honorable robert mueller. [applause] >> well, thank you for that very kind introduction, lady gaga. [applause] you have not heard the last of that. [laughter]

me to beleasure for here and to be given the opportunity to recruit for the fbi. i will say, it is a tremendous honor to join the graduates today as they move on in their lives. as i look out at all of you, i am reminded of my youngest daughter's graduation from college a number of years ago. comedian bill cosby delivered the commencement address. he said that a commencement was as much for the parents as for the graduates -- for today, parents are not only filled with pride, but with a sense of newfound freedom. [applause] yet cosby joked that as he drove home from his own daughter's commencement, with his daughter following in her car, one thought kept running through his mind -- why are you still here, coming back to my house?

as college graduates, you have hopes and dreams. and as parents, we, too, have hopes and dreams. and that part about moving home? not always part of our dream. but as i reflect on where i have come since, i myself have graduated. thought i would end up where i have. i consider myself fortunate to have been given the opportunities i have had both personally and professionally. and i consider myself most fortunate to have been given the opportunities i have had over the past 30 years -- both

personally and professionally. i have been blessed with three families -- my family -- my wife and our two daughters, my marine corps family, and, for the past 11 years, my fbi family. and from each of these families, i have learned a number of life lessons. one such lesson is that much of what you do impacts those around you, and, in turn, those around you shape your life in a number of ways. such lessons can often be frustrating as well as uplifting. lord knows i myself have had plenty of opportunities to grow within these three families. today, i want to touch on three lessons learned through these relationships. these lessons relate to integrity, service, and patience -- as well as its corollary, which is humility. perhaps my experiences -- and in some cases, my mistakes -- will strike a chord with you. i would like to begin with integrity because it is so essential to who and what you ultimately will become. many of you have a career path in mind. many of you have no idea where you will end up. a few of you may be surprised by where life takes you. i certainly was. in the end, it is not only what we do, but how we do it. whatever we do, we must act

with honesty and with integrity. regardless of your chosen career, you are only as good as your word. you can be smart, aggressive, articulate, and indeed persuasive. but if you are not honest, your reputation will suffer. and once lost, a good reputation can never, ever be regained. as the saying goes, "if you have integrity, nothing else matters. and if you don't have integrity, nothing else matters." the fbi's motto is fidelity, bravery, and integrity. for the men and women of the bureau, uncompromising integrity -- both personal and institutional -- is the core value. aat same integrity is hallmark of this institution. william & mary was the first college in the country to have a student-run honor system. that honor system, and the community of trust it enables, rests on one precept -- and that is integrity.

your professional and your personal success will rest on that same precept. there will come a time when you will be tested. you may find yourself standing alone, against those you thought were trusted colleagues. you may stand to lose what you have worked for. and the decision will not be an easy call. but surely william& mary has prepared you for just such a test. indeed, your own thomas jefferson believed that william & mary was "the finest school of manners and morals that ever existed in america." as graduates, you are charged with upholding this legacy of honesty and integrity. today, you become the standard bearers. turning to the importance of

public service, or service over self. i can say that i did not really choose public service. rather, i more or less fell into it early on, perhaps not fully appreciating the challenges of such service. yet one can come to understand the importance of service over self in a myriad of ways -- through volunteerism, through commitment to a particular cause, or perhaps by example. as an undergraduate, i had one of the finest role models i could have asked for in an upperclassman by the name of david hackett. david was on our 1965 lacrosse team. he was not necessarily the best on the team, but he was a determined and a natural leader. he graduated later that spring. and a year later -- as we were graduating -- we faced the decision of how to respond to the war in vietnam. we knew that david was in vietnam serving as a platoon commander in the marine corps.

in the spring of 1967, he volunteered for a second tour of duty. but on april 29th, as he led his men against a north vietnamese army contingent, david was killed by a sniper's bullet just south of the dmz. thewould have thought that life of a marine, and david's death in vietnam, would argue strongly against following in his footsteps. but many of us saw in him the person we wanted to be, even before his death. he was a leader and a role model on the fields of princeton. he was a leader and a role model on the fields of battle as well. and a number of his friends and teammates joined the marine corps because of him, as did i. i do consider myself fortunate to have survived my tour in vietnam. there were many -- men such as david hackett --who did not. and perhaps because of that, i

have always felt compelled to try to give back in some way. i have been lucky to spend the better part of my professional life in public service, and to benefit from the intangible rewards that come from such service. the lessons i learned as a marine have stayed with me for more than 40 years. the value of teamwork, sacrifice, and discipline -- life lessons i could not have learned in quite the same way elsewhere. and when i look back on my career, i think of having the opportunity to participate in major investigations, such as the pan am 103 bombing over lockerbie, scotland -- and working shoulder-to-shoulder with homicide detectives in washington, d.c. and i think of my experience over the past 11 years, working with one of the finest institutions in the world -- the fbi. these were opportunities that

would have been difficult to replicate in the private sector, and that, for me, has been time well spent. since its earliest days, the college of william & mary has emphasized service over self. your fellow alumni have served as the nation's highest political officers, attorneys and judges, teachers and doctors, and civic and military leaders. the way in which you choose to serve does not matter -- only that you work to better your country and your community. each of you must determine in what way you can best serve others -- a way that will leave you believing that your time has been time well spent. turning to lessons on patience. writer barbara johnson once defined patience as the ability to idle your motor when you feel like stripping your gears. notthose of us who are

inherently patient -- including myself -- it is an acquired skill. and believe me, it is hard earned -- and people will say that i am still learning. it is also fair to say that true patience is required at precisely the moment you least have time for it. patience includes the ability listen -- really listen -- to others, and especially those close to you. this is not always easy, particularly for someone like me. in one of my first positions with the department of justice, more than 30 years ago, i found myself head of the criminal division in the u.s. attorney's office in boston. i soon realized that lawyers would come to my office for one of two reasons -- either to"see or be seen" on the one hand, or to obtain a decision on some aspect of their work, on

the other hand. i quickly fell into the habit of asking one question whenever someone walked in the door, and that question was -- "what is the issue?" a word of advice -- this question is not conducive to married life. one evening i came home to my wife, who had had a long day teaching and then coping with our two young daughters. she began to describe her day to me. after just a few moments, i interrupted, and rather peremptorily asked, "what is the issue?" the response, as i should have anticipated, was immediate. "i am your wife," she said. "i am not one of your attorneys. do not ever ask me, 'what is the issue?' you will sit there and you will listen until i am finished."

[applause] a story for mother's day. and, of course, i did just that. that night, i did learn the importance of listening to those around you -- truly listening --before making judgment, before taking action. i also learned to use that question sparingly, and never, ever with my wife. humility is closely related to patience. there are those who are naturally humble. but for others, humility may come from life experience, it is the result of facing challenges, making mistakes, and overcoming obstacles. i would like to close with a story about one of your own -- lee rawls. lee was an adjunct professor here at william& mary for more

than 18 years. he taught a seminar entitled "congress, the executive, and public policy." lee was naturally humble. he was always the smartest person in the room, and the last one who would ever tout it. lee and i were college classmates, and we served together in a previous administration. when i became director of the fbi, i asked him to join me as a close advisor and remarkably, he agreed. lee knew how to cut through the nonsense and get to the heart of the matter better than anyone. he also knew how to put me in my place. during one particularly heated meeting, everyone was frustrated -- mostly with me -- and i myself may well have been a wee bit impatient and ill tempered. lee sat silently, and then

posed the following question out of the blue -- "what is the difference between the director of the fbi and a four-year-old child?" the room grew hushed. finally, he said, "height." [laughter] on those days when we were under attack by the news media and being clobbered by congress, when the attorney general was not at all happy with me, i would walk down to lee's office, hoping for a sympathetic ear. i would ask, "how are we doing?" lee would shake his head and say, "you're toast. you're dead meat. you're history." he would continue, "don't take yourself too seriously, because no one else around here does." ofwas that innate sense

humility -- the idea that the world does not revolve around you-- that was central to lee's character. he never sought to elevate his own status, to the contrary, he sought to elevate those around him -- the hallmark of the truly humble. as you grow older, you will begin to understand that one's life is a combination of experiences and teachings of those who become your mentors. lee rawls certainly was a mentor to me, and i am a better person for having had the opportunity to be tutored by him. though he might have suggested that it was rough going for him, having me as one of his students. lee passed away two years ago, and he is greatly missed by family, friends, and colleagues. his was a life of humility --a

life of service, a model for many others -- for you and for myself. i encourage each of you to surround yourselves with such mentors over the coming years -- individuals who will make you smarter and better, those who will recognize your potential and challenge you in new ways. and one day, wittingly or unwittingly, you will serve as a mentor to someone in your life. remember -- patience and humility. both are hard to come by, and each will serve you well. the lessons i speak of today are lessons not only for you, but for all of us. we must all find ways to contribute to something bigger than ourselves. we must cultivate patience, each and every day. we must maintain a sense of humility. and most importantly, we must never, ever sacrifice our integrity. if we do each of these things, we will have the best opportunity to be successful -- personally and professionally

-- and our time will indeed have been time well spent. thank you for inviting me to celebrate with you today, and god bless. [applause] [captioning performed by national captioning institute] [captions copyright national cable satellite corp. 2013] >> federal reserve board chairman ben bernanke gave this year's commencement address at bard college in massachusetts. " is a small, liberal arts early" college, where students start their studies after completing 10th or 11th grade in high school. mr. bernanke's son graduated from this school in 2006. [applause] thank you very much. good morning.

congratulations on finally earning your ba and let me also congratulate, of course, the graduates and their parents. the word graduate comes from the latin for step. onduation is only one step the journey, but it is a step or taking. i think everyone of you appreciates the uniqueness of attending an institution like this. knowledge, the only early college in the united states. many of you came here in search of a different educational experience. with only about 400 students on campus, i'm sure each of you has felt part of a close-knit community. most important though, you have completed a curriculum that emphasizes creativity and

independence critical thinking, habits of mind that i am sure will stay with you. so, what is so important about critical thinking and creativity? amre are many answers, but i an economist, so i will talk about the economic future, your economic future, i should say, because each of you will have many years, i hope, to benefit from an increasingly complex global economy. my emphasis will be on the long run. in particular, i will be looking beyond the very real challenges of the economic recovery we're facing today, challenges i have every confidence we can overcome, but to speak about economic growth as measured in decades, not months or quarters. the factors affect development of the economy, notably among them the nation's political institutions, but over no factor isod,

bigger than scientific progress. when the industrial revolution took hold in europe, the standard of living throughout most of the world changed little from generation to generation. for centuries, many, if not most people, produced what they and their families consumed, and never traveled far from where they were born. by the mid-1700's, a growing scientific and technical knowledge was beginning to find commercial uses. since then, according to standard accounts, the world has experienced at least three major waves of technological application and innovation. the first wave drove the growth of the industrial era, which lasted from the mid-1700's to the mid-1800's. this heiress of the invention of steam engines, cotton spinning saw the invention of steam engines, cotton spinning

machines and railroads. it greatlyess, increase the productivity of workers and reduce the costs of basic consumer goods. the second extended wave of invention coincided with the modern industrial era, which lasted from the mid-18 hundreds well into the years after world war ii. this era featured model innovations the radically changed everyday life such as indoor plumbing, electricity in homes and factories, the internal combustion engine, antibiotics, powered flight, telephones, radio, television, and many more. go third era, whose roots back at least to the 1940's, but which began to enter the popular consciousness in the 1970's and 1980's, as defined by the information technology revolution as well as fields like biotechnology that

improvements in computing helped to make possible. of course, the i.t. revolution is still ongoing in shaping our world today. here is a question, a key question, i imagine, from your perspective. these waves of bass that expanded range of available products and deficiencies for which they could reduce. indeed, according to the best available data, output per person in the united states increased by approximately 30 times between 1700 and 1970 or so. growth that has resulted in numerous changes in our society and economy. history suggest that economic prospects in the coming decades depend on whether the id resolution has economic effects

of the previous two. i.t. revolution has economic effects of the previous two. some observers have made the i.t. revolution likely will not generate a transformative economic effects that flow from earlier revolutions. these observers argue economic growth and change in the coming decades likely will be slower than the pace of which americans have become accustomed. such an outcome would have an important social and political and economic consequence for the country and the world. ofs provocative assessment our economic future has attracted plenty of attention among economists and others as well. it does not make sense. here is one way to think for concretely about the argument. 1963, i was an inaugural growing up in a

middle-class home in a small town in south carolina. i was the best speller by the way in south carolina. [laughter] ona way of getting a handle economic change, it is interesting to ask how my families everyday life back then different from that of a typical family today. if i think about it, i could quickly come up with the internet, cell phones, and microwave ovens as important convenience that most families have today that my family lack 50 years ago. healthcare has also improved since i was young. let expectancy of birth in the u.s. has risen from 70 years to 78 years today. some improvement is probably due to better nutrition and generally higher levels of income rather than advances in medicine alone. nevertheless, i'm every might be selective -- my memory might be

selective. does that seem like the differences are that large. air-conditioning and sanitation were not that different from today. we had a dishwasher and washing machine and dryer. i family owned a comfortable car with air conditioning and a radio. for entertainment, we do not have the internet or video games. but we have plenty of books and and rtv didrdings not have many channels. the comparison of the world's 1963 to that of today suggest substantial change in those years. let's run the six permit back another 50 years to 1913 -- 50t's run this back another 1 years to 1913.

life was simply much harder for most americans. iny people work long hours dangerous and dirty jobs. up to 60 hours for week -- per week. refrigerators and freezers and electric stoves and washing machines were not in general use. do not yethouseholds have electricity. in the entertainment spear, americans did not have access to commercial radio broadcasts and movies would be silent for another decade and a half. some people have telephones come but no long distance service available. in transportation, henry ford was beginning to mass production of the model t automobile. railroads were powered by steam and regular commercial air travel was still decades away.

life expectancy in 1913 was only 53 years. it reflected the state of medical science at the time and infection and dionex and vaccines from deadly diseases would not be developed for several more decades -- and deadly -- and and i'm -- and vaccines fromd deadly diseases that would not be built for several more decades. the purpose of these comparisons makes concrete argument from some that the transformations of the past 50 years are significant to not match the changes of the previous 50 years or for that matter, the previous 100 years. extrapolating to the conclusion that some have drawn that the pace of economic growth and change can be associated with improvement in living standards will likely be slower as our most recent technological

revolution and computers will not transform our lives dramatically as previous revolutions have. that is sort of depressing. that the future ain't what it used to be? nobody really knows. it is tough to make predictions about the future. there are some good arguments on the other side of this debate. take theyou i will other side. first of all, innovation id. ignition -- by definition involves ideas no one has had get. forecasts of future change and -- can be and often are widely wrong. human innovation and creativity will continue. it is part of our very nature. is thatprediction people will continue to forecast the end of innovation. the famous british economist

observed as much in the middle of the great depression. 80 years ago he wrote, we are suffering from a bad attack of economics. it is common to hear people say --t the epic of congress progress is over. the rapid improvement in the standards of life is going to slow down. it sounds familiar. keynes argued that such a view -- what he called economic us abilities for our grandchildren -- capabilities for our grandchildren good rice. income per person in the u.s. today is roughly six times what it was back then. the second counterargument is that not only are innovation itself inherently hard to predict, so are the consequences

of innovation for our economy and daily lives. indeed, some would say that we are still in the early days of the i.t. revolution. computer speed and memory has increased many times over in the 30 plus years since the first personal computers came onto the market. it is a biotechnology are dancing rapidly. fields like biotechnology are advancing rapidly. the commercial applications of these technologies only scratch the surface. i.t.der the potential for and biotechnology to improve healthcare. one of the most important sectors of our economy. it would lead to better ordination and more effective care than we have today, inluding greater responses the latest findings.

robots and lasers are improving surgical outcomes and artificial intelligence systems are being used to improve diagnoses and chart courses of treatment. perhaps even more revolutionary is a transport that would tailor medical treatment for each patient based on information drawn from that individuals genetic code. taken together, such advances would lead to another jump in life expectancy and improve health. andr promising areas application of new technologies includes the development of cleaner energy and harnessing wind and solar power and the development of electric hybrid vehicles and the potential of future advances. i cannot imagine all of the possibilities. we underestimate the longer term potential. finally, one more important

argument. pessimists might be paying too much attention to the strength of the underlying courses that generate innovation in the modern world. invention was once the province of the isolated scientist or tinkerer. transmission of new ideas and agitation for insights for commercial uses were slow and erratic. but all of that is changing radically. we live on a planet that is becoming richer and more popular and which not only the most advanced economies, but also in emerging markets like china and india. we increasingly see their economic futures. in that context, the number of trained scientists and engineers is increasing rapidly, as are the resources for research being provided by universities and government and the private sector are. because of the internet

collaboration takes place at high speed and little regard for distance. for example, research papers rather thanitiqued after publication in a journal several years after they were written. importantly, as trade and globalization have increased the size of the potential market, it is going -- rapidly. both humanity's capacity to innovate and incentives to innovate are greater today than in any other time in our history. well, what does this have to do with creativity and critical thinking? that is where i started. innovation and development teaches us that the only constant is change. during your working lives, you have to reinvent yourself many times.

oneess and satisfaction outcome from mastering a fixed body of knowledge, but constant agitation and k2 video in a rapidly changing world. engaging with and apply new technology will be a crucial part of that. your work and the electronic show -- and the electric -- and intellectual skills you have are the best to adjust these challenges. humanityortant that facilitates new and creative thinking and helps us draw meaning that goes beyond the material aspects of our lives. let me end by wishing you the very best in facing the difficult, but exciting challenges that like ahead. congratulations. [applause]

>> that was a fed chair at bard college. we're looking at recent commencement speeches from across the country. we will do that tonight and saturday night as well. in a moment, we will bring you a couple of governors. we begin with governor martin o'malley speaking at st. mary's college in maryland. after that, governor rick scott speaking at ava maria university. we will wrap up with patricia llodra speaking in newtown, connecticut. we have some postings of your thoughts and what advice you would give to the graduating class of 2013. one says -- learn to think for yourself. stand up for values and be a leader and not a follower.

luck,ebra -- lots of kids. and a column i whether harvard grads will remember the amendment addressed by oprah winfrey. she says apparently commencement amnesia is an no one could name his or her graduation speaker without checking. the speaker talked about river blindness and how people could be driven mad and even scratch their own eyes out. then some business school grads who'd maybe had a sip of champagne started booing and were soon joined by their parents. more graduation speakers coming up tonight and tomorrow night on c-span. tomorrow night, we start off

with the ceo of twitter speaking at the university of michigan in ann arbor. the gets underway tomorrow i'm c-span beginning at 6 p.m. eastern -- that gets underway tomorrow on c-span beginning at -- --orrow night next up, we take you to the speech by governor martin o'malley at st. mary's college in st. mary's maryland. chaplin -- [cheers and applause]

>> president and chairwoman, faculty, honored guests, grateful and relieved parents, it is a great pleasure to be able to share this awesome day with you and a humbling honor as well. i love st. mary's. [cheers and applause] you can feel the history and you can sense of the future as you walk these beautiful grounds. a century ago, this place was settled in the name of religious liberty and freedom. today this college stand as a eakin of free thought and open discourse -- as a beacon of free thought and open discourse. congratulations. you did it. [cheers and applause]

in a few moments you are going to join a very select club. in a really diddly short amount of human history, cache in a relatively short amount of human history, 86% of our worlds appellation -- population has access to a mobile phone. get this -- less than seven percent have what you are about to receive. namely, a college diploma. less than 7%. membership in this club is not free. [laughter] i'm not talking merely about tuition. i'm talking about something deeper. with your diploma comes a responsibility of individual leadership. in our country, every person is needed. so, we commence.

our world is changing rapidly. globally cap nominate -- global economic issues and global poverty and global migration and global climate change and global warfare. in your lifetime, the population of our planet will nearly double. the scientists of our world are certain that we are on the verge of burning up the atmosphere of our planet. anyone who tries to tell you that these challenges are not real is either uninformed or simply not being honest with you. after the same time, anyone who ignores the millions of reasons for optimism in this world simply does not have their eyes open. these things are not happening to us. they are happening for us.

life is an evolving story of change and choice. every challenge holds the seat of opportunity. adversity is not our enemy. is the catalyst. these are some of the most exciting times to be a live. think about it. in that release of instant of human time, we have gone from manned flight to man walking on the moon. from the human vaccine to the human genome. from the telegraph today internet. , always isnt of this the effort and imagination it will of individual human spirit. story of peter burns from emery county. [cheers and applause] -- from a summary county. county.omery

[cheers and applause] his spirit knows no limits. his dad moved the family near campus. together they have attended classes. they have cheered on the seahawks. they have participated in campus life together. he graduates with honors. [cheers and applause] there's also the story of britney davis. [cheers and applause] britney lost her father at a young age. her mom had to work hard to support her and each of her five siblings. she had big dreams for her daughter.

expectations become behavior. the transition to st. mary's was challenging. there have been starts and stops. there have been struggles and breakthroughs. .ut she returned to st. mary's britney davis will be the first member of her family to receive a college diploma. [cheers and applause] these individual stories, these two, these individual stories are also maryland's story. it is a story of each and every one of you. .aryland history and future we have been placed at the calledand the forefront

the american revolution. it is not over. it is ongoing. today it is a revolution of science and technology and healing and discovery and innovation. for the second year in a row, the u.s. chamber of commerce last week named your state the number one state in america for innovation and entrepreneurship. [applause] classrooms all across the state, mary landers are revolutionizing the way we see it and fuel our planet. taking place,ry , thepplied physics lab

curious and the healing being developed, nih of homes being the lifefederate, , greens, clean tech tech, information technology, cybersecurity, space, it aerospace, global trade. our challenges are big and so must our leadership and compassion for one another. innovation is the key. innovation in science and technology and art and music. innovation that only in such uncritical thinking, the sort of thinking the have learned here will bring about. innovation that creates job plans for improving the delivery and accelerating the

delivery of higher education and better skills for all of our people. the job for creating innovations that improve the health and security of our people. and innovation that creates jobs and green design. the job creating innovation that is necessary to save humanity from the devastation of climate change. born of a deeper understanding of a relationship between our relationships. there is a deeper understanding of the system upon which all life depends. is notstion of 2013 whether we move left or right, but whether we move forward or back. no citizen has the option of

escaping the answer. good intentions are important, but good intentions are insufficient. forw mindset is required the new action that our world requires. and we were organizing. this is true in business and in government and in every sector and nonprofit sectors. more open and more transparent. anyway that is more effect is even as it becomes more personalized. you are among the firstborn of the new information age. people are becoming more powerful than their governments. to becoming interconnected. they are becoming better

informed. you are graduating today at the ofeshold of a new era american progress. at your fingertips are a rising standard of living and better educated children and more affordable college and the more highly skilled american workforce and safer neighborhoods and a safer and more resilient homeland and help your -- help your people and a more sustainable living if you choose to make it so. achieving this progress will require a different kind of leadership and the requested from each and everyone you. your parents grew up in a time when leadership was ideological. it was bureaucratic. this new information age calls for a different way. .t calls for leadership leadership that is collaborative. leadership that is accountable and relentlessly interactive. leadership that creates a

common platforms. leaders that are willing to have open-source information order to unlock the information needed on a massive scale. leadership that understands the and the human dignity strength of our diversity. i leave you with this prayer. made a gift of leadership away can you as a vocation. mind of the providence that cause you to serve. mayor imagination continue -- may your imagination continue. may your work be infused with passion and creativity and have the wisdom to balance .ompassion and challenge

the source that will guide and bless your work. congratulations. [applause] [captions copyright national cable satellite corp. 2013] [captioning performed by national captioning institute] >> earlier this month governor rick scott deliver the address at ava maria university. governor scott is serving his first term in office. this is under 15 minutes. [applause] >> thank you for that introduction. it is wonderful to be back home. this is a great year for my wife and i. we had our 41st anniversary a week ago. we will have to mourn grandkids this year. -- we will have two more grandkids this year.

nothing better than that. [applause] it is an honor to be here. congratulations to every graduate. a great journey -- you have got a great journey. you will have a great time. i love these speeches. the onlych is one of few things that is standing in the way of where you are now. you have a great hearty with your family and friends once we get finished. in the words of my pastor, i cannot promise you i will be interesting, but i guarantee you i will be short. my goal is to get you to your celebration on time. i thought a lot about this beach. instead of reading long passages from history or literature, i went to share with you a few things. the few things i would myself if i were in your place today.

as a father and grandfather, these are some lessons it to me time to learn. number 10, family is sacred. [applause] my mom almost gave me up for adoption when she was born because she was going through a diverse from my -- divorce from my birth father. she may mired that she remarried. they had a difficult time supporting us five kids. -- she remarried. they had a difficult time supporting us five kids. my mom had many challenges and struggles, but she taught me to be fearless. never give up. i could accomplish anything. be an optimist even when times

are hard. --you graduate to date, today, keep your family close. thank your mom and your dad and everyone else who helped you get to where you are today. there will be a day when you cannot check in with your mom and dad anymore. make your family a priority come even if they end up far away. they will influence your life for the better if you let them. is thenine, your body only one you get. my father was a world war ii veteran that survived the invasion and was a prisoner of war. he had a six grade education. he never thought he would come back alive. he came back alive. , he smoked too

much and drink too much and 82 -- ate too much. he had surgery and they told him he could not smoke. he quit smoking immediately. every saturday night. he saved up. it is true. my mom was furious. growing up with him, i saw how important health was by learning what not to do. you have your body until you die. there is no trade-ins are upgrades along the way. treasure your help. number eight, learn to manage her money. he always here to make money in some way.

-- learn to manage your money. you always hear to make money in some way. read a money-management book. save a portion of every paycheck matter how small. stay out of debt. ,fter getting a great education invest in yourself by understanding the best way to manage your money. you can give more back to the school, right? [laughter] number seven, it is important to take stock of what you must have in your life. what do you treasure? thereyour treasure is, your heart will be also. what do you treasure today? is it making $1 million? is it about having that job you

have been dreaming about? house are living in a getting married and having children? take stock of your heart and look at wet dream you may have landed at the center -- look at what dream you may have at the center. the job and the money and the itcess, no matter how much is, it will never really satisfied. god designed our hearts. enjoy the journey. i once heard someone say that when you know where you came from and know where you're going, it is easy to enjoy the journey along the way. as a child of god, i know where i am from and where i will be turned. knowing that frees me up to enjoy all of the ups and downs along the way.

try the impossible. follow your dreams. from both.ned thankfully, god only gives us one day at a time. when you decide to enjoy each day as it comes, you're guaranteed to have much more fun along the way. number five, build relationships. a growth of every great company starts with two people. relationships matter. people need to be gone you'd. -- people need to be valued. of yourer one motivator team will not beer salary, but -- will not be your salary, but how you are appreciated. wine is a book how to

friends and influence people. everyone wants to be loved. make everyone around you feel special. be respectful of everyone. love with all of your heart. .ou will live longer you will have more friends. you will be happier. you'll be much more successful in your chosen profession. you enjoy your life much more. take time to appreciate those around you. you cannot do anything truly great by yourself. win relationships wherein in the long-term. build relationships every day. number four, travel the world. i have been to all seven continents. i've been to almost 50 countries. there are wonderful people in places all over the world. travel everywhere.

number three, trust. the truth is, the world is a scary, unfair place. bad things happen to good people. dreams are not always come true. sometimes life breaks your heart. in a world like this, the logical thing to do is to shut down and close up. do everything on your own and do not depend on anyone. a trust is one of the most powerful of all human actions. trust is a foundation of great friendships and wonderful marriages and selfless parents a great company. -- angry company. let people enter your life. share with others knowing that you will be disappointed at times. number two, take risk.

when you're 80 years old, you want to look back and know that you tried stuff. to make asaughters many mistakes as i have made in my life. those mistakes were clearly the precursors of future success. , my prayers are i will still be married to the person i married. i will have great relationship with my daughters and son-in- law's. i like them a lot more this year. [laughter] my grandchildren and a few friends. i want to say that i tried a lot of things with no regrets. change the world a little bit for the better.

don't live in fear. don't worry what people might say or think about you. take the shot. number one, forgive. if you're going to be in a family and value relationships and trust people and enjoy the journey even when you make mistakes -- and you will make mistakes along the way -- you will need forgiveness. forgiveness is a complicated word. anddecides when to forgive what to forgive and how to forgive? i do not have all the answers. i know we are called to forgive as god for dave. an incredible -- as god for dave. an incredible standard. -- as god forgave. an incredible standard. it is supernatural. it requires practice.

one thing i hope you will remember from this list today is the challenge -- value your family, your friends, and all the wonderful people you meet along the way. they won't be perfect and neither will you. they will need forgiveness just like me and you. if you accept this challenge, it will be easy to have fun and you will love the journey that god gave us this opportunity. god bless every one of you. thank you for the opportunity. [applause] lordvernor rick scott of and governor martin o'malley spending friday evening looking at commencements.

coming up next, we will hear from attorney general in or colder. --ill wrap up with tricia llodra in connecticut. looking at what pundits are saying about the commencement speakers. is no need- there for commencement speeches. they are the worst part of college graduation. they are necessarily long and generally terrible. they write about the seven load loathsomencements -- commencement speeches. there is also the best commencement speeches at 2013. it was the those tomorrow night on c-span. if you missed any of tonight's

speeches we have covered in the 2013 season, you can find them online at c-span.org. ofwill take you to a couple weeks ago with attorney general eric holder addressing the graduating class of uc berkeley. this is about 25 minutes. [applause] >> good afternoon. good morning, i guess. thank you for those kind words. thank you for a warm welcome. that i am an extraction. it is a place where you have the best beaches in the caribbean and the producer of the best of rom in the history of the world. it?many of you have had ya, man.

>> [inaudible] >> all right. it's a privilege to join all of you today. -- professor comment is starting to get on my nerves. manoght have to go mano a of some sort. to the staff and administration and so many proud parents and family members and friends and alumni, i want to join in congratulating the staff at 2013 and celebrate your time here at the berkeley law school. i would like to thank javier -- and that is a great mustache.

men who have mustaches are people with depth and distinction" in this. .- distinguish and coolness [laughter] thank you for the thoughtful remarks. did they have any time to study? apparently they did. they will go on to do wonderful things. i would like to think them in the fellow student leaders who have made the ceremony so special. it is an honor to share -- and welcome you to the legal profession. thank you to the musicians who especially the steel drum players. [applause] they help set up i think an appropriately formal tone for this report and ceremony.

it reminds me of what did in columbia in new york. not really. [laughter] all those type a competitive types are at columbia. , thank you for inviting me to share in this moment as he marked the end of your formal legal training at the beginning of your stewardship of our nation's justice system. this is something you have been working for and waiting for. each of you will accept a diploma signifying their graduation from one of the most prestigious law schools in the united states of america. you will take your leave of this remarkables community of learning that you have learned to call home. it'll say goodbye to friends that you have made and professors you will never forget. thewill fan out around

country and even across the world, seeking to make a living and striving to make your mark and seeking to improve our country and make more peaceful world of despair. to build a brighter future that all people deserve and to that muste promise become your common cause, the promise of equal justice under law. [cheers and applause] i realize that these challenges might seem distant or even abstract as we gather on this beautiful morning to celebrate your commencement. your memories of final exams are still fresh.

he might have good reason to focus on more immediate concerns. you'll have studying for the bar exam. .t is an important milestone as we reflect on the achievements that have led you to this point i'm a last thing you want to think about is accepting a new mantle of responsibility. , that isall days precisely what you must do. your journey of service to the law and all it protects and the powers is really the beginning. the future you face is far from certain. each of you has been given a rare chance to make a meaningful difference. toertain times give birth need opportunities to affect positive change. as i look around this crowd of right young faces, i cannot help

but the confident that you're ready and prepared to do exactly that. a class at 2013 has come a long way. and 77 different majors and a wide array of religious and ethnic backgrounds. university sets you apart. provides the opportunity for tremendous individual interaction and enhanced institutional strength. your previous achievements as science, journalist, athletes, parents, and military betterments, musicians, artists are very impressive. the potential is without limit. you come together and have formed a lasting bonds of friendship and fellowship. he had taken part of the same touals and rites of passage

thursday night bar review. you have helped to strengthen and extend the tradition of collegiality and collaboration that has those made institutions mark boal -- a remarkable place. from protesting tuition increase across the state to rallying support for same-sex marriage. [cheers and applause] you have raised your voice is on some of the most pressing issues facing your peers and your fellow citizens from human trafficking to domestic violence to gaining hands-on hainan'se to combating crimes in providing assistance to the dems and navigating the complexities of our legal system -- assistance to the

victims and navigating the complexities of our legal system. clients.the lives of you have done it while coping and taking time to relax and enjoy student life during wine bus trip to napa valley. did that happen? [cheers and applause] i really went to the wrong law school. [laughter] and weekly gatherings for the wednesday warriors. [cheers and applause] that is that group over there. [laughter] , reallyhole thing goes do it one time. this chapter draws to a close. these expenses will stay with you.

it will shape your path forward with you envision a future defending the accused or campaigning for elected office for leading incorporation or running a nonprofit board turning your own course, you you'll beyourself -- you'll find yourself building on service and advocacy that you produce sisters have established. in that ad is picking the first woman to serve in the u.s. apartment of justice -- woman became the first to serve in the u.s. department of justice

the great civil rights champion, great lawyer, ted olson. berkeley law alumni have done nothing less than shape and reshape the world in which we live. as we speak, berkeley graduates are continuing this work at every level of government and across today's u.s. department of justice covered clearly nearby office. [cheers and applause] where are you? there she is. iwas told she graduated never received her diploma for some reason. and never received her diploma for some reason. all right. we will hook you up. countless others have spoken out and sacrificed and

organized in order to advance the singular promise that unites us this morning. live in an america that our forebears could only dream about. every one of them sat where you sit today. each was called upon to address the threats enter from the .ovel questions of their time it is your turn. it is your solemn responsibility and your humbling opportunity to act with optimism and fidelity to our most treasured as a bulls and live with abiding faith in

yourselves and with one another treasured values and live with abiding faith in yourselves and with one another. justice is done. 's earliestountry days, the american legal community has risen to the challenge. you are about to embark in your legal careers. your crossroads in history. our nation confronts grave obstacles and national security threats that demand our constant vigilance and steadfast commit it. -- commitment. as leaders and lawyers and americans, that represents a defining issue of our time. someof you must consider important questions. how can we uphold the values and remain true to the high ideals of our legal system will keeping pace with the 21st century

threats? in what ways can we or should we ?dapt and adapt to the system ourcan we be nimble in pursuit of justice without sacrificing our values and the rule of law? none of these questions are rhetorical. their answers are being debated everyday in seminars and world- class institutions. an executive branch and the halls of congress as well. the urgency of this discussion has come once again into sharp opus. confiscated and -- has come into sharp focus.

it is in such moments of difficulty in crises when cases are most shocking and emotions are running high and fear is at a fever which that our legal system is put to the test. wetimes of maximum danger, must restrain the impulse to implement that which we might isnk to be effective, but indeed surely inconsistent with our treasured values. [cheers and applause] important to remember in these trying times that nothing can be taken for granted. oz and outcomes are not preordained -- positive outcomes are not peer deigned. -- positive outcomes are not preordained.

many word transported to certain areas. 60% of the interned were americans. a deeply misguided ruling, the u.s. supreme court said it .assed constitutional muster in the aftermath of 9/11 as our nation struggle to cope with on president tragedy and respond to a new kind of threat, fear and uncertainty drove us to abandon our values in pursuit of information about those who would do us harm. that were upques to shovel the effectiveness -- please techniques that were of actionable effectiveness. -- we used to techniques that work of actionable

effectiveness. some continue to question the of our federal civilian court system. detainees could be housed and prosecuted. in short, and many faith of our founding documents our time- tested affected institutions. in the wake of the boston marathon bombings, renewed terroristeal with activity are being made it again. every legal professional, every aspiring leader, every graduate in this crowd today must renew that commitment to standing firm in the faith of

manufactured controversy and overheated rhetoric to uphold our most sacred values. [applause] be very clear. those who claim that the federal courts are incapable of handling terrorism cases are not registering a defensive opinion. they are simply wrong. ignores reality. attempting to limit the use of these courts would weaken our ability to punish those who target our people and attempt to terrorize our communities. throughout history, federal courts have proven to be an unparalleled instrument for bringing terrorist to justice. they have enabled us to convict

scores of people of terrorism related offenses since september 11. many are safely secured and held in our federal listens and not in guantánamo -- federal prisons >> note -- no other tool has demonstrated such a robust ability to stop terrorism collect intelligence over a diverse range of circumstances. i defy anyone on the merit to challenge these assertions. our heritage, and our legacy to future generations, lili demands that we demand full faith and confidence in a court system that has distinguished this nation for more than two centuries. our security demands it as well.

prosecuting terrorists in federal court is not consistent with our values, it is extraordinarily effective. the article system is strong and fair, and has been seen as legitimate around the world. setting this country apart, different string us from other nations, and serving as a model for others to in the and emulate. -- for others to model and simulate. especially in moments of crisis, when we are under attack, or a faceless difficulty or danger, our actions, your actions, must be grounded in the bedrock of the constitution. inps for it must be rooted knowing our protestant addition 's, but our highest ideals.

including the need to provide law enforcement with the tools and authorities necessary for a ,athering of vital intelligence keeping pace for rapidly changing threats, and protecting public safety. all the while safeguarding rights to due process. just as we are today a nation at war, so too we are a nation of laws. with all that you possess, and all you have been given, every member of the class of 2013 has a special responsibility to help us meet these challenges, and keep advancing our uniquely american pursuit of a safer, , more her faith union. i am courage to note that more than 50 of you are already planning to fulfill this obligation by pursuing positions in public interest

law and public service. [applause] have been awarded postgraduate fellowships to perform public interest work. coming to thel be justice department to work with me. two? are those there we go. i have my eyes on you. critical days ahead, no matter how you choose to put your legal training to work, when the public sector, in private industry, or in private rectus, i urge you to keep up the habit of pro bono service you establish year at berkeley -- you established here at berkeley.

never forget that everyone of you is among among the most qualified legal professionals in this country. you are among the best equipped to serve, and to lead, and you are among the most prepared to helping you generation rise to the challenges of the moment, bring about meaningful changes we need, and make this world your world, a better place. i know each of you has the ability and that possibility within you. i implore you to make the most of it. use your unique skills, your idealism, and the power your law degree of force to better yourselves to improve your communities, and solve the complex problem's that undoubtedly lie ahead. dare to question that which is accepted truth. strive to change that which is unjust. dedicate yourselves above all to creating a world that reflects

your aspirations for a brighter future, reaching for the principles that have made our nation great, and fighting to secure and make real the romans of justice not only for your time, but for all time. as you make your way forward, know that we have faith in you. i have a great deal of faith in you. we are proud, i am proud, of each and every one of you. we are counting on this class of 2013 to make more fair and more just the world that now looks to you for the leadership that you are uniquely qualified to share. congratulations. godspeed. [applause]

>> now a speech by the first selectwoman of newtown, connecticut. patricia llodra. she describes what the tragedy has meant to her town as she addressed graduates at sacred heart university. this is 10 minutes. [applause] >> good morning. thank you president patella for addressing me with such comments and welcoming me. i'm humbled and and greatly honored by this recognition. good morning graduates. congratulations to you for having reached this milestone in life's journey, and congratulations all susan mons and dads, spouses, relatives,

and supporters out there who of yourroud accomplishments. and who so wish you happiness and success as you venture forth. i've had the pleasure of sitting of theaudience graduations of my own children and grandchildren. those events fill me with satisfaction that i have accomplished one of live schools -- the shepherding and parenting of those for whom i have down list love -- boundless love. self these days as an accidental politician. i never intended to have this role, never thought of myself in an elected position. i spent 30 years as a teacher, administrator, consultant with the bureau of education, and that the connecticut association of schools. for the last eight years, i have

been involved in local government. have worked in i the town of newtown, where i lived with my family for more than 42 years. a town that i care for a great deal. i town that i believe is special in many ways. a town that loves children and families, and is proud of its schools. on december 14, 2012, a horrible tragedy into this town. we lost 20 children and six adults to a terrible, violent crime. the worst school shooting in history. that violence arbitrated upon us ,y an angry, confused young man left is fragile beyond words. , ourense of self confidence, and our surety that we are saved was destroyed in a five-minute halo billets -- five-minute halo bullets.

this one of that would not define us, that this community of newtown would be known for its cherished -- core age -- courage. that we would not fall into the emotional of this and rob us further. at the loss of 26 innocent lives is more than we would ever want to sacrifice to hate. that we would allow the killer no more. there is a magnificent sense of resolve. let's the spirit and provides the strength to go on in the face of unspeakable her. i think it is a tool for self- preservation. it was the anchor and lifeline used by many, including me, to get through those first weeks after the event. the positive spirit was almost palpable and gatherings as we grieved together, set aside differences that we knew mattered little in the face of this new challenge. pledges of perseverance for communicated over and over

again. i hear that same resolve and the voices of boston, and those i talk with from aurora, tucson, columbine, and blacksburg. i marvel every day at the convention expressed by those in newtown that we will make something good from that evil act. still today, 140 days after the event, the commitment to do good and 10 use unabated -- to do good continues unabated. in fact, i am pleased and proud to witness the great diversity of effort, even if some efforts appear to diverge from the norm. is thatrtance for me everyone finds their voice, and uses their talent, whatever it is to improve the lives of the common good. newtown is a special place.

i think that we are basically good and kind. even the choice, i believe that each of us individually and collectively would more often than not choose the good act over the evil act. i believe we do not like it at all when the balance between good and evil is kept -- tipped away from us. at stake whens evil grains -- gains too much ground. when that evil happens in a place like sandy hook elementary school, it brings fear to all of us. all theool known to do right things to ensure student and staff safety, which was known to be a loving and inclusive place, to be the site of a mass killing, then none of us are safe. december 14way on at the world would be watching, that what we said and did would make a difference on our community would be perceived.

it mattered a great deal to me, and still does. i care that newtown and sandy hook are not synonymous with a horrible tragic act. ourfuture viability of town depends on how we are perceived by those who would become our new residence. school children, families, businessmen, shopkeepers. we are and always have been a good place. we deserve to be seen for that goodness. how to go forward? how am i to leave -- lead this cap out of chaos? how to do it in such a way that others watching would recognize our steely resolve to persevere mixed with a strong dose of compassion and acts of kindness. as i read and hear comments and think weut my town, i have done well in this regard. we have had to rely upon our instincts about what is right

and good. i recognize ready quickly that , was to lead with my heart not just with my head. my role as the town leader was to model the common confidence that we will recover, that our community will be known for its courage and dignity, it's resolve the compassion. that we will move for him -- that we will put our arms around each other in love and support for as long as it takes to restore our balance. i pray every day that i will find the courage and the wisdom needed to lead others on this journey of recovery. it helped us in newtown to know that the world was not only watching, but that they cared. the outpouring of love, hope, and prayers, was overwhelming. all corners of the world were represented in that outpouring. every country, every continent. every major government, and most minor states. messages and more than 20 ,anguages, from churches

schools, families, individuals, and organizations. we learn throughout our experience we are one people the world over. let me leave you with just a few messages from my experience. find time in your life in your busy schedule to perform a service to others. that is one of the greatest rewards you will experience in your adult life. service to others is restorative to the human spirit. embrace every leadership opportunity. make sure that your heart is the most active ingredient in that leadership function. inage at a personal level social dynamics. make yourself part of a group. a community of like-minded or diverse individuals, look for that communal resolve.

future as a society will depend on those communities. let me congratulate you on this occasion. i wish you well in your endeavors. a wish for you to embrace and care for our mother earth, and all of its people. i believe that your generation possesses the answers to the questions we have today. i look forward to the future you crave for my grandchildren and their grandchildren. thank you. [applause] [captioning performed by national captioning institute] >> you can see all of the commencement speech meant -- speeches on c-span.org. to ask for your advice for the class of 2013. post your thoughts and your commencement advice to graduates. here we will be back with another round of commencement spaces getting started at 8:30.

ceo of start with the twitter. at thelver after that new school university. apple cofounder steve wozniak at the university of california. and then the new york euro next -- after that we would hear from arianna huffington, wesley bush, and bill clinton. all that getting underway tomorrow night on c-span. very differente impacts depending on who you are. averages are not going to tell the story pretty young and the healthy are going to see big increases. . in some cases, our survey says 200%. their number is 197%. these are sharp premium increases.

for others, they will get decreases as a result. you just don't want to rely on that. there's not a single number that will tell you the story about the aca implementation. some people are going to get quite a bit of impact, others a lot less. >> this weekend, the impact of the new health care law on insurance premiums. also this weekend, pulitzer prize-winning author rick atkinson takes your questions on in-depth. , ourerican history tv weekly look at the presidency. george w. bush and reification. president obama urged parents and college students to call, e-mail, or tweet representatives and demand action to prevent government backed student loan interest

rates from increasing in july. this is just under 15 minutes. >> the president of the united states. >> good morning, everybody. have a seat. have a seat. welcome to the white house. i know it's a little warm. [laughter] one of my favorite things about this job is that i get to spend some time with remarkable young people from all across the country. it inspires me. it makes me feel good. those of you who have had to put on suits and ties and show up at the white house first thing on a friday morning may not feel the same way i do -- (laughter) -- but i appreciate all of you being here. you cleaned up very well. and these students and graduates are here to talk about something that matters to millions of young people and their families, and that's the cost of a college

education. because this isn't just critical for their futures, but it's also critical for america's future. over the past four and a half years, we've been fighting our way back from a financial crisis and an incredibly punishing recession -- the worst since the great depression -- and it cost millions of americans their jobs and their homes, the sense of security that they'd spent their lives building up. the good news is, today, our businesses have created nearly 7 million new jobs over the past 38 months. 500,000 of those jobs are in manufacturing. we're producing more of our own energy, we're consuming less energy, and we're importing less from other countries. the housing market is coming back. the stock market has rebounded. our deficits are shrinking at the fastest pace in 50 years. people's retirement savings are growing again. the rise of health care costs are slowing. the american auto industry is back. so we're seeing progress, and

the economy is starting to pick up steam. the gears are starting to turn again, and we're getting some traction. but the thing is, the way we measure our progress as a country is not just where the stock market is; it's not just to how well the folks at the top are doing; it's not just about the aggregate economic numbers. it's about how much progress ordinary families are making. are we creating ladders of opportunity for everybody who's willing to work hard? are we creating not only a growing economy, but also the engine that is critical to long- lasting, sustained economic growth -- and that is a rising, thriving middle class. that's our focus. that's what we've got to be concerned about every single day. that's our north star. and that means there are three questions we have to ask ourselves as a nation. number one: how do we make america a magnet for good jobs

in this competitive 21st century economy? number two: how do we make sure that our workers earn the skills and education they need to do those jobs? and number three: how do we make sure those jobs actually pay a decent wage or salary, so that people can save for retirement, send their kids to college? those are the questions we've got to be asking ourselves every single day. so we're here today to talk about that second question. how do we make sure our workers earn the skills and education they need to do the jobs that companies are hiring for right now, and are going to keep hiring for in the future? we know that the surest path to the middle class is some form of higher education -- a four-year degree, a community college degree, an advanced degree. you're going to need more than just a high school education to succeed in this economy.

and the young people here today, they get that. they're working through college; maybe just graduated. and earning their degree isn't just the best investment that they can make for their future it's the best investment that they can make in america's future. but like a lot of young people all across the country, these students have had to take on more and more and more debt to pay for this investment. since most of today's college students were born, tuition and fees at public universities have more than doubled. and these days, the average student who takes out loans to pay for four years of college graduates owing more than $26,000. how many people are on track here for $26,000? and that doesn't just hold back

our young graduates. it holds back our entire middle class, because americans now owe more on our student loans than we do on our credit cards. and those payments can last for years, even decades, which means that young people are putting off buying their first car, or their first house -- the things that grow our economy and create new jobs. and i've said this before, i know this firsthand -- michelle and i, we did not finish paying off our student loans until about nine years ago. and our student loans cost more than our mortgage. right when we wanted to start saving for sasha and malia's college education, we were still paying off our own college education. and we were lucky. we had more resources than many. so we cannot price the middle class or folks who are willing to work hard to get into the

middle class out of a college education. we can't keep saddling young people with more and more and more debt just as they're starting out in life. now, the good news is over the past four years, my administration has done a lot to address this. working with members of congress, we've expanded student aid. we've reformed the student loan system. we've saved tens of billions of taxpayer dollars that were just going to big banks, and made sure that the money went to helping more young people afford college. we made it easier to pay back those loans by passing a law that says you'll only have to pay 10 percent of your monthly income towards your student -- federal student loans once you graduate. this is important to emphasize, by the way, because a lot of your peers, a lot of young people don't know this. under existing law that we passed, you never have to pay more than 10 percent of your income in paying back your federal student loans, which means if you want to be a teacher, you want to go into a profession that does not pay a

lot of money but gives you a lot of satisfaction, you are still capable of doing that and supporting yourself. we unveiled a new college scorecard that gives parents and students the clear, concise information that you need to shop around for a school with the best value for you. and i've made it clear that those colleges that don't do enough to keep college costs down should get less taxpayer support. so we're doing what we can, but here's the thing: if congress doesn't act by july 1st, federal student loan rates are set to double. and that means that the average student with those loans will rack up an additional $1,000 in debt. that's like a $1,000 tax hike. i assume most of you cannot afford that. anybody here can afford that? no. now, if this sounds like déjà vu all over again, that's because it is. we went through this last summer. some of you were here. it wasn't as hot.

[laughter] i don't think we did this event outside. [laughter] but we went through this. and eventually, congress listened to all the parents and young people who said "don't double my rate." and because folks made their voices heard, congress acted to keep interest rates low. but they only did it for a year and that year is almost up. so the test here is simple. we've got to make sure that federal student loan rates don't double on july 1st. now, the house of representatives has already passed a student loan bill, and i'm glad that they took action. but unfortunately, their bill does not meet that test. it fails to lock in low rates for students next year. that's not smart. it eliminates safeguards for lower-income families. that's not fair. it could actually cost a freshman starting school this fall more over the next four years than if we did nothing at all and let the interest rates double on july 1st. so the house bill isn't smart and it's not fair.

i'm glad the house is paying attention to it, but they didn't do it in the right way. so i'm asking young people to get involved and make your voices heard once again. last year, you convinced 186 republicans in the house and 24 republicans in the senate to work with democrats to keep student loan rates low. you made something bipartisan happen in this town that is -- that's a powerful thing. you guys were able to get democrats and republicans to vote for something that was important. so this year, if it looks like your representatives have changed their minds, you're going to have to call them up again or email them again or tweet them again and ask them what happened, what changed? you're still taking out these loans. you're still facing challenges. remind them that we're a people who help one another earn an education, because it benefits all of us.

during the civil war, lincoln had the foresight to set up a system of land grant colleges. at the end of world war ii, we set up the gi bill so that people like my grandfather could come back from a war and get an education. all these things created the greatest middle class on earth. my mom, a single mom, was able to get the support that she needed through loans and grants even while she was also working and raising two kids -- to get her degrees. i'm only here, michelle is only right over there in the east wing because we got great educations. we didn't come from privilege. and we want to make sure that the next generation has those same opportunities, because that has been good for the country as a whole. it's up to us now to carry forward that tradition. higher education cannot be a luxury for a privileged few. it is an economic necessity that every family should be able to afford, every young person with

dreams and ambition should be able to access. and now is not the time for us to turn back on young people. now is not the time to slash the investments that help us grow. now is the time to reaffirm our commitment to you and the generation that's coming behind you, and that if we work together to generate more jobs and educate more kids and open up new opportunities for everybody who's willing to work and willing to push through those doors of opportunity, america can't be stopped. so i'm putting my faith in you. let's work together. let's get this done by july 1st. thank you, everybody. god bless you. god bless america. thank you. ♪applause]

>> the social security and medicare trustees report shows both programs long-term are on a sustainable path. the short-term shows that medicare's financial outlook improved by two years. the trustees including secretary jack lew and kathleen sibelius agree with this assessment. this is 30 minutes.

>> let me begin by welcoming my fellow trustees here in the treasury department. i would like to thank the chief actuaries and their staffs for all their hard work on this year's final reports. the social security and medicare boards of trustees met this morning so we could complete the annual financial review of the programs and transmit the reports to congress. social security and medicare represent a fundamental obligation to provide income and health care security for our fellow citizens. this obligation has stood the test of recession, war, and time. social security and medicare are meeting the commitments today, and will continue to meet their commitments in the years ahead. yet trustee reports have been indicating these programs face long-term challenges. the projections in this year for social security are essentially unchanged from last year.

those from medicare improved modestly. as reported last year, considered on a combined basis, the programs have dedicated funds sufficient to cover benefits until 2033. after that time, it is expected that ongoing flows of tax income will be sufficient to finance about 3/4 of benefits. strengthen medicare's finances by reigning in healthcare costs. the health care has helped extend the life of the hospital insurance trust fund. there will be resources sufficient to cover full benefits until 2026, two years longer than projected last year. what more must be done. the president recognizes how essential reform is, and is determined to work to put social security and medicare on a stronger footing. he has put forward a set of principles for reform.

these principles underscore the need to find common ground to extend the life of the program, and while making it clear that changes that involve the benefit cuts or privatization will be unacceptable. the president has a specific plan to further strengthen medicare. he wants to shrink the cost of spending, reduce subsidies to prescription drug companies, and ask wealthy seniors to contribute a little more. this will help lower future budget deficits. the four i close, let me say that when issuing reports like this, it is easy to get caught up in the numbers, but these reports are not only about numbers. they are about the millions of americans who rely on social security and medicare now, and the millions who will rely on them in the future. protecting social security and medicare is one of the most significant challenges we face today as a nation. it is a challenge we can and must meet. i am pleased now to turn to my

colleague and fellow trustee, secretary kathleen sibelius. >> thank you, secretary lew. the affordable care act is continuing to strengthen medicare, and ensure its solvency for future generations. for nearly half a century, americans have looked to medicare as a sacred trust, a guarantee that no one will have to sell their house or go bankrupt in old age because of hospital bills. it is our duty to keep medicare strong and sustainable, so that our children can look forward to the same security when it comes time for them to retire. back in 2009, that very important mission was in doubt. medicare spending was rising rapidly. the hospital insurance trust fund was projected to be insolvent in just eight years. with the healthcare law, our goal was to put medicare on more

stable footing, not by cutting benefits, but by putting reforms in place to ensure that medicare dollars were spent more wisely. the past few years have borne out that promise. last year, the trustees report projected the life of the trust fund had been extended to 2024. today, we are pleased to announce we have extended the life of the trust fund two more years, to 2026. just as important is the way in which we are doing it. the affordable care act has helped put medicare on more stable ground, without eliminating a single guaranteed benefit. it will eliminate excess payments and crack down on fraud and abuse.

thanks in part to those reforms, medicare spending per beneficiary has grown at a historical rate of 1.7% a year between 2010 and 2012. it is projected to remain lower than the rate of economic growth over the next decade. this is not only putting medicare on a stronger footing for the future. it is benefiting seniors right now. preliminary estimates in today's trustees report project that estimates will not increase from 2014 levels. this report is encouraging because we know that many medicare beneficiaries are on a fixed income. medicare costs are less likely than private insurance costs to be affected by fluctuations in the economy. when medicare spending slows, it

is a good sign that real progress is being made. still, we recognize that more work remains to be done. medicare continues to face considerable challenges, including an aging population. we must continue to build on the progress we have made in the last few years. that is why the president's 2014 budget lays out an additional $317 billion in savings over the next decade. if those proposals are enacted, they will put medicare on an even sounder footing for our children. today's report is the latest demonstration that with smart reforms, we can secure medicare for the future without slashing benefits. going forward, we must continue working to keep strengthening medicare for beneficiaries today, and for future generations. i would like to turn the podium over to acting secretary of labor seth harris.

>> good morning. the 2013 trustees report clearly demonstrates that the social security and medicare programs remain the sturdiest pillars of our retirement, security, and social security systems, and can remain so for the foreseeable future. the challenges faced are real. this year, 58 million people, nearly one in five americans, will receive social security benefits. for nearly 2/3 of beneficiaries 65 and older, their benefits will account for more than half their income. older women, because they live longer on average and earn less on average during their working lives, are particularly reliant on social security. as we approach the 50th anniversary of the signing of the equal pay act next month, it is important to acknowledge that this gender wage gap still

exists. as women continue to earn less over their lifetime than their male counterparts, it also means they have less to save for retirement, and receive smaller social security payments once they have stopped working altogether. with 10,000 baby boomers turning 65 every day, social security is more important than ever for women and men alike. shifts in benefits and the retirement savings landscape also play an important role. this is not your grandfather's retirement. there was a time when most workers walked out of the plant on their last day of work with a reliable, defined benefit pension. they knew how much they would receive each month of their retirement, and they knew the benefits would last for the remainder of their lives. today, most workers who have an employer-provided retirement plan find themselves in the defined contribution system, usually a 401k, that is

vulnerable to market volatility. millions of workers on the edge of retirement suffer the consequences of this riskier system during the great recession. many workers face the even greater risk of no employer- provided retirement plan at all. in this environment of rising risk for workers, social security and medicare remain reliable pillars of retirement and health security for america's working families. one of the most important steps that could be taken to shore up social security and medicare trust funds would be for congress to enact president obama's agenda to create jobs and raise worker wages. social security and medicare financing does not operate in a policy vacuum. we cannot look at them in isolation from the performance of the national economy and the status of american workers. creating more jobs, putting more

americans to work with the skills they need to succeed in those jobs, and raising the wages of american workers means increased revenues for all of the social security and medicare trust funds. the good news is that our economy is doing better. after the worst economic downturn in more than seven decades, the economy is turning the corner, and the labor market is improving. we have seen 38 consecutive months of private sector job growth that added 6.8 million new jobs to our economy, with nearly 2.2 million americans employed today than a year ago. the april unemployment rate was 7.5%, its lowest level since december 2008. we need to accelerate job creation and economic growth, to put more people in work that enables them to support their families, paying for the system that sustains our safety net. we have to do more to complete this recovery.

president obama has proposed a plan that will grow the economy from the middle class out, and create half ways into the middle class for millions of american workers. we need to make america a magnet for jobs, with investments in physical infrastructure, skills infrastructure, and manufacturing innovation. workers must be able to succeed with the right education, skills, and training, beginning with early childhood education, continuing through affordable bachelor's degrees. and we must put more money in the pockets of american workers. that is why the president has proposed an increase in the federal minimum wage to $9 an hour, indexing that wage to inflation. this will also mean expanding america's labor force. we need to do more to bring people with disabilities into the workforce and sustainable employment.

this will bring millions of people out of the shadows and into the system, where they are contributing payroll taxes to the trust funds. all these steps will mean workers are better off when they are working, and more economically secure when they retire. a robust economy means strong social security and medicare systems. it will make our country stronger both today and in the decades to come. i would like to turn the podium over to the active commissioner of the social security administration. >> thank you. good morning. the social security and medicare programs are crucially important for the millions of americans who receive benefits, and for the roughly 95% of our population that is receiving or can expect to receive benefits from the program in the future. as trustees, we are responsible for overseeing and annually reporting on the status of two

programs. the defined social security trust fund reserves are projected to become depleted in 2033 if no legislative changes are made between now and then. at that time, continuing income would be sufficient to support 77% of program costs. this is unchanged from last year's report. lawmakers should act soon to address this imbalance. and phase in necessary changes gradually, and give workers and beneficiaries time to adjust to them. the long-range actuarial status shown in this report, represented by the actuarial deficit, is slightly less favorable than that shown in the 2012 report. the estimated long-range actuarial deficit for the combined social security trust fund over the next 75 years increased from 2.67% of payroll

last year to 2.72% of taxable payroll in this year's report. this change in the deficit can be attributed to the change in the starting year from 2012 to 2013, adding the new projection year of 2087. the updates of data for this report had offsetting effects, producing no additional change in the actuarial deficit. considered alone, the trust fund reserves are in danger of becoming depleted much sooner than the combined social security fund. this report again projects that reserve depletion will occur in 2016, in the absence of legislative changes. at that point, continuing income to the trust fund will be

sufficient to support expenditures at 80% of closing costs. the d.i. is important to americans receiving benefits. people who are not able to work depend on these benefits. in addition, all working americans who are currently insured depend on this program to replace the income they will lose if they become disabled in the future. the social security and medicare programs, as i have indicated, are critical for the millions of americans who receive these benefits. it is our hope that congress will make the necessary legislative changes before we reach the critical point of 2016. thank you very much. let me at this time bring to the

podium our public trustee. thank you. >> i would like to begin by thanking secretary lew, secretary sibelius, acting secretary harris, and acting commissioner colvin for putting together this report. our actuaries offices are indispensable in both the social security administration and the office of the medicare actuary. this is the third report in which i and my co-public trustee have participated. this is a process that is serving while. i continue to be impressed by the professionalism and quality of work you see behind me.

the process of putting together reports is complex. there will be disagreements along the way, but it is striking how these disagreements are matters of analysis. they are not driven by policy views, at least not that i have been able to tell. obviously, only time will tell how accurate or inaccurate our projections turn out to be. but i believe they have been put together in the highest traditions of public service. i think all the departments up here deserve enormous credit for all they have done to safeguard the objectivity and integrity of the projection process. thank you to all the secretaries behind me. i will leave it to bob to discuss the more complicated medicare program. of the various trust funds that we report on, social security he faces the largest actuarial shortfall and the most immediate financial challenge. that challenge is the rejected

insolvency of the disability insurance trust fund. under current projections, it will be depleted in 2016, three years away. there is a tendency -- and all of us do this, trustees as well, to talk about the combined finances. but each trust funds separately has to maintain solvency in order to avoid an interruption of benefit payments. under current projections, we will only have enough resources in 2016 to pay 80% of schedule disability payments. stepping back to the entirety of the social security program as a whole, the long-term imbalance we now project in the combined trust funds equals 2.72% of the tax base in worker taxable wages. that may seem like a pretty small number, but bear in mind it is nearly 3% of all worker

wages over the next 75 years, a very large sum of money. it is also the largest shortfall the program has faced since the 1980 three reforms. it is longer than the shortfall corrected by those reforms. if we were to enact a social security reform today, we would have to make legislative changes that surpass those that occurred in 1983. by any objective measure, it is getting very late in the game to deal with social security finances in a realistic way. the fact that the combined trust funds are not scheduled for depletion until 2000 33, or the old age and survivor's trust fund is not scheduled for depletion until 2035, should not suggest we have that long. by that time, incoming tax revenue and outgoing expenditures will be so far

apart it will be pretty implausible that lawmakers will be able to close those gaps in a short time. just to give you a sense of the magnitude of the cost of delay, if we were to enact a social security financing solution today for the combined trust funds, and wanted to do it by increasing the social security payroll tax rate, we would have to raise it immediately to 15 point six percent. if we delayed action until 2013, it would have to rise to 16.5%, an increase to 1/3 of the payroll tax burdens. if we were to enact a set of benefit reductions today, they would have to be 16.5% across the board, and they would have to apply to all beneficiaries, including those now receiving

benefits. if we want to confine changes to future beneficiaries, the changes would have to be nearly 20%, 19.8% of the benefits of those newly coming onto the rolls. by 2013, we would have to cut benefits 23% across-the-board. if we were willing to cut benefits cut benefits for people already in retirement, which is unlikely. if we were to try to confine to those newly eligible, even wiping out 100% of their benefits would be insufficient to close the shortfall. it is clear that the window of opportunity closes well before the early 2030's. it is in the process of closing around us as we speak. what has changed? on balance, not much. we basically have another year of inaction. we have had adjustments on the

negative and positive side of the ledger. we had to account for the tax law passed earlier this year. that is somewhat lower than our projection of revenues that would come from income taxation and social security benefits. we have also had to factor in increases in longevity, as the up dated data has come in. obviously, increase longevity is good, but it means more costs for social security. we have been able to make methodological refinements. we are doing a better job in projecting the insurance status of various people who contribute, distinguishing between those who are and are not legal residents. these and other changes basically net out to a net wash, in terms of the overall qualitative outlook. the primary story is simply the

cost of another year's delay. the right way to deal with this is bipartisan action to repair social security finances as soon as possible. only elected officials can tell us how soon that is. we have the projected depletion of the disability insurance trust fund. that is going to require legislation of one form or another before 2016 if we want to avoid an interruption of benefits. one option for dealing with this is to reallocate some of the tax is going to the retirement side, the survivors trust fund, to the disability insurance trust fund. that is an option that legislators can consider. of course, that option has downsides. it basically means taking revenue away from the retirement portion of social security and putting it into the disability

portion. that would make all the sense in the world if the old-age and survivors trust fund was in a better long-term position, but that is not what our numbers show. they show a larger long-term deficit in the old-age and survivors trust fund then we show in the disability trust fund. the reason the disability trust fund is projected to be depleted earlier is because people go on to disability benefits at younger ages, so that wave is hitting the disability system first. if we were to reallocate the taxes, we would take taxes away from the retirement program at the moment people are moving from disability to retirement, and taking it away from the weaker long-term condition. the optimal way of dealing with all this, and the best way, would be for legislators to address the entire social security shortfall, but the disability and old age portions of the program, to do it

together, and to do it well before either trust fund faces imminent depletion. i will now turn it over to my co-public trustee. >> thank you and good morning. being the last trustee to speak, i will be brief. the primary responsibility, as you all know, of the public trustees, is to ensure the american public that the analyses in the annual reports are objective, are using the best available data and information, and employ the most appropriate methodologies. as has been said, we can provide, without hesitation or caveat, such assurances to the american public. we feel we have participated in an open, robust, and vibrant discussion of numerous issues that have to be resolved each year while these reports are being crafted. we have been impressed with the

expertise of the staffs of the departments of the ex officio trustees, by the skill of the actuaries and their staffs, and by all those involved. this year, we continue to evaluate and incorporate, where appropriate, analysis and recommendations of the technical panel convened by the social security advisory board, and the 2010-2011 panel convened by the department of health and human services. as is true every year, these reports also have benefited from methodological refinements and updated information produced by the offices of the chief actuaries. let me just say a few observations that relate to the content of these reports. i add my voice to the chorus we have already heard.

both of these vitally important programs are on an unsustainable paths. the sooner we address the problems, the less disruptive the adjustments for individuals and our economy. similarly, the sooner decisions are made, the greater the opportunity to craft solutions that are balanced and equitable. the bottom line messages of the 2013 reports differ little from the most recent reports. some might interpret as a significant development the fact that the 2013 medicare report estimates that the projected depletion of the hospital insurance trust fund will occur two years later than estimated last year. i think such an interpretation would be a mistake. i am cautiously optimistic that

the recent slowdown in the growth of per capita health care spending will continue. that is not to say the affordable care act has not had significant impact. but that impact will only grow over time. as you all know, medicare projections involve a lot of uncertainty. first, there is legislative uncertainty. medicare projections are based on current law. under the sustainable growth rate mechanism, it has called for a 21% reduction in the physician fee schedule at the start of 2014. if the past is any guide, lawmakers will almost certainly override this reduction, and medicare expenditures will therefore be higher. second, the uncertainties associated with new medical technologies, new drugs, new devices, and new procedures, which have tended to push up costs, there is uncertainty with

respect to the nongovernmental half of healthcare spending. medicare cannot pursue policies , thethe long run challenge facing medicare will depend on our ability to adhere to the discipline that has been contained in the affordable care act which in turn will require a significant transformation of the existing payment and delivery systems. dividers will have to improve -- providers will have to improve productivity and there has to be a willingness among employers, unions, insurers, and other private sector players to join forces with medicare and demand systematic change. the big question for the future is whether initiatives in the private sector will complement