Obama: We’re Going To Teach Americans About Money, Not Taking out Too Much Debt

BARACK OBAMA: "And in the meantime, we’re also going to be working to educate folks on how to think about their money. You know, we were talking to Dr. Ward, and -- you know, through the community college process, through consumer advocates at the local level, in high schools, we need to be teaching young people the dangers of taking out too much consumer debt. And this is one more way that Wall Street reform, what we passed five years ago, is protecting working families and taxpayers. And that strengthens the economy. And that’s one more reason why it makes no sense that the Republican budget would make it harder for the CFPB to do its job. And would allow Wall Street to go back to the kind of recklessness that led to the crisis in the first place, and would allow, you know, these kinds of lenders who are not doing the right thing, keep at it."