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Inside the 'Occupy' Protest; President Obama's Plan to Ease College Debt; U.S. Terror Victims Seek Justice; How "Occupy" Protests Measure Up; Talk Back Question
Aired October 26, 2011 - 11:59 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
T.J. HOLMES, CNN ANCHOR: And we're coming up on the top of the hour here now. I'm T.J. Holmes, in today for Suzanne Malveaux.
As we cross the top of the hour, let's get you up to speed.
Oakland Police firing tear gas and beanbags at "Occupy Wall Street" protesters. They cleared out about 500 people who've been camped at a plaza at city hall. Police say they were forced to act after protesters threw paint and rocks at them.
(BEGIN VIDEO CLIP)
UNIDENTIFIED MALE: I heard these loud bans, and apparently it was the tear gas going off. And then you feel like you want to throw up, and your eyes are stinging and get red. So then I ran a couple of blocks out of the way.
(END VIDEO CLIP)
HOLMES: Also, in Atlanta, police here removed Occupy Wall Street crowds from a downtown park. Dozens of protesters were arrested, but the scene was much calmer than the one we saw in Oakland.
Also, we're standing by in about 45 minutes to hear remarks from the president. He will announce help for people buried under student loans. He'll let borrowers cap monthly payments at 10 percent of discretionary income years earlier than planned. They'll be able to refinance at lower interest rates.
We'll have President Obama's remarks. He'll be live from Denver, coming your way about 12:45 Eastern Time.
Also, the president topped off a West Coast swing with a visit to "The Tonight Show With Jay Leno." Most of his trip was spent filling his campaign war chest to fight off his Republican challenger in 2012.
(BEGIN VIDEO CLIP)
JAY LENO, HOST, "THE TONIGHT SHOW WITH JAY LENO": Now, have you been watching the GOP debates?
BARACK OBAMA, PRESIDENT OF THE UNITED STATES: I'm going to wait until everybody's voted off the island.
(LAUGHTER)
(APPLAUSE)
LENO: Really?
OBAMA: Once they narrow it down to one or two, I'll start paying attention.
(END VIDEO CLIP)
HOLMES: The conversation certainly turned serious when Leno brought up Libya and the death of Moammar Gadhafi. President Obama says the U.S. and its allies gave him ample opportunity to walk away.
Now, this is the scene in Yemen's capital today. Thousands of women burned their veils and scarves, a forceful act in a conservative Muslim country. Women are furious over government attacks on protesters who want President Ali Abdullah Saleh to quit. Some carried signs that read, "Saleh, the butcher, is killing women and is proud of it."
Also, January 1st -- there she is -- Ginni Rometty will become the first woman to lead IBM in the company's 100-year history. She's been at IBM for 30 years. Now that Meg Whitman has taken over as Hewlett-Packard's CEO, her promotion puts women at the top of the nation's two largest technology firms.
Well, veteran CBS journalist Andy Rooney is in the hospital today. He had minor surgery a few days ago. Now CBS says Rooney has developed serious complications. Rooney is 92 years old, and he signed off as a "60 Minutes" commentator just three weeks ago.
Also, it was delayed for three years, but Boeing's 787 Dreamliner finally had its first flight with paying customers. Today's hop from Tokyo to Hong Kong featured a vastly improved air flow and humidity system. That and larger windows supposed to make you arrive feeling all fresh.
So, what really happened last night in Oakland? Let me bring in Rachel Jackson. She is one of those protesters who was there last night for that face-off with police.
Ma'am, thank you for being here with us.
You tell me. The police are saying that some of the protestors were throwing bottles and rocks and things at them. Did you see that taking place at all?
RACHEL JACKSON, "OCCUPY OAKLAND" PROTESTER: I personally did not, and I just really want to take issue with that particular narrative, because the first tear gas that was fired and the first projectiles that were used, and the first violence that was used against protesters was at 5:00 in the morning, within five minutes of surrounding the camp, against 100 or so campers who were half asleep and essentially doing sort of a traditional civil rights-style sit-in to occupy the camp and to protect the camp. And the police responded with just an overwhelming show of force and just viciousness, injuring people, hitting people, and not just clearing the camp, but destroying the camp.
HOLMES: Well, ma'am, this --
JACKSON: So it was as much -- it was symbolic, too. You know, it was an attack on everything that we're representing here.
HOLMES: Ms. Jackson, what were the instructions, then, that you got or that you heard from police? Not you just personally, but the crowd was getting from police, because I understand they were telling people they needed to clear out this area, and then they came in and decided to clear it out when people wouldn't move.
JACKSON: Right. Well, some people -- you know, again, some people had decided to do a civil disobedience, and to -- you know, sit in at the camp, and to show that -- you know, to show their commitment to the camp and commitment to representing the 99 percent here.
Traditionally or formally, the police are always -- they always have crowd control policies, and they're obligated to give some sort of a dispersal order. But you can look at the past history of the Oakland Police Department, including during the demonstrations against the BART police officer who killed Oscar Grant, and there's a history of the police violating their own police policies.
Sometimes they give dispersal orders, sometimes they don't. Sometimes they trap you first and then tell you to leave when you can't. So I have no doubt -- and I did hear some dispersal orders, but it's never in the sequence that the police are claiming that it is.
HOLMES: Well, Ms. Jackson, what is it -- is next, then? You said civil disobedience. So people went down there with the idea of literally going against the police officers' wishes.
So you knew you were violating law and not following the police officers' orders. So that was the intent, to some degree.
So, I guess, what is the end game it in Oakland? We've seen Occupy protests all over the country, and some coordination and some now. So, I guess, what is the end game there in Oakland?
JACKSON: Right. Well, first, T.J., I want to say that these situations often get boiled down to criminality, when, in fact, we may be violating some particular law, but we're expressing our First Amendment rights, and we are standing firm in representing the 99 percent. And that is not simple criminality in the way it sounds in terms of you're going against the police.
We're not going against the police. In fact, many protesters have expressed that as public service workers, that this movement is in their favor as well.
Unfortunately, what people have experienced is that, for a lot of the police -- and we saw this last night -- that, unfortunately, they may be part of the 99 percent, but their job is to protect the one percent. And they're doing it with a vengeance.
HOLMES: All right.
JACKSON: In terms of the end game --
HOLMES: Yes, ma'am?
JACKSON: -- we want camp back. We want the camp back.
We want the park, Oscar Grant Plaza. We want the camp back. We want people's things that were taken. We want them to be either returned or replaced.
And we want the charges to be dropped against any of the protesters. We want an end to martial law in Oakland.
And, frankly, if Mayor Quan cannot stand with the people, and insists on putting her own constituents in the crosshairs of these violent police officers, if she can't handle it, and she can't stand with the 99 percent, then she should step down.
HOLMES: Well, Ms. Jackson, certainly we appreciate you taking the time here, and definitely a different story coming from the police. And we have been talking about their side of the story as well, but just unfortunate, some of the scenes we did see last night.
But we appreciate you taking the time here with us.
We're at eight minutes past the hour.
JACKSON: Can I stay one more thing?
HOLMES: If you can for me quickly, ma'am.
JACKSON: Oh, yes. You know, this was done in the name of public safety, but dozens of people were injured, including respiratory injuries, headed trauma, broken bones. This is what happened in the name of protecting public safety.
HOLMES: All right. Again, Ms. Jackson, thank you.
I want to turn to our Carol Costello, who has our "Talk Back" question today.
And Carol, it's a tough story because you're getting two different sides. We have a "Talk Back" question, but just listening to one person who was there last night, you get two different sides from police, saying, hey, they're throwing bottles and rocks at us. We're police officers, we have to protect ourselves. They're violating orders to leave.
So we're going to get a lot of back-and-forth on that story. But you have the question about Occupy.
CAROL COSTELLO, CNN CORRESPONDENT: Yes, I do have today's question. And it's really interesting now. The question is: Would Jesus occupy Wall Street? An interesting question, especially today, in light of what happened in Oakland, California.
Occupy Oakland protesters hurled paint at riot police, and riot police hurled tear gas. Jesus here? Some argue, yes. And the Vatican seems to be backing them up.
"The Sydney Morning Herald" reports a senior Vatican official says the Wall Street protests are justified. Pope Benedict himself has called for overhauling global financial rules because the gap between rich and the poor is so wide.
In New York, those of other faiths are joining forces with Occupy Wall Street. On Friday, a group of Muslims prayed in Zuccotti Park. Some Jews celebrated Yom Kippur.
(BEGIN VIDEO CLIP)
Part of the themes of Yom Kippur are doing teshuvah, returning to a best self. I think our country has really gone off the track. I think we've forgotten about the poor, we've forgotten about the workers. And one of the major themes of Yom Kippur is to remember the poor, remember the workers, and to do what we can to make a better world. And I think this is a beautiful, holy expression of God's desire.
(END VIDEO CLIP)
COSTELLO: But not all religious people support Occupy Wall Street. Jesus did repudiate the desire for personal wealth. He did advocate care for the poor and the powerless. But, they say Jesus also believed in community, people helping others, not government. Would Jesus walk alongside these protesters then?
The "Talk Back" question today: Would Jesus occupy Wall Street?
Facebook.com/CarolCNN. I'll read your responses eagerly within the hour.
HOLMES: All right. We'll see you here shortly. Thanks so much, Carol.
And to our viewers, here's what's ahead "On the Rundown."
Next, student loans creep towards a trillion dollars. We'll go over two plans the president is pushing to help graduates manage that debt.
Also, having an MRI scan can help save your life, but those machines can be dangerous, even deadly. We'll run down the risks.
Also, Occupy Wall Street protesters in Atlanta, they're cleared out of a park. Dozens of people arrested.
And character witnesses for Dr. Conrad Murray are expected to be called to the stand today in that trial.
And finally, devastating floodwaters push further into Bangkok.
(BEGIN VIDEO CLIP)
SARAH SIDNER, CNN INTERNATIONAL CORRESPONDENT: This water is supposed to crest in the next few days, and there is great concern that it will make it all the way in to the business district, which will further hurt the economy here.
(END VIDEO CLIP)
(COMMERCIAL BREAK)
HOLMES: Well, stocks today have been in and out of positive territory. An earlier rally kind of fizzled after some disappointing earnings reports, including one from Amazon.
Investors are also watching the European debt crisis. Leaders are meeting to discuss a comprehensive plan to deal with the debt situation and the banking crisis.
You see there, the Dow is up about 42 points right now. We'll keep a close watch.
Meanwhile, President Obama is offering help for students facing some massive college loan debt. He'll talk about his new proposals in a speech later this hour, about 30 minutes from now. We will take you there live.
Student loans have now surpassed credit card debt in the U.S. And we talked with some students about just how much their college education is costing them.
(BEGIN VIDEO CLIP)
UNIDENTIFIED MALE: I'm thinking about $7,000, $8,000 in loans.
UNIDENTIFIED FEMALE: At least $10,000 maybe.
UNIDENTIFIED FEMALE: It's $33,000.
UNIDENTIFIED FEMALE: Probably about $50,000.
UNIDENTIFIED MALE: Close to about $70,000, if I'm lucky.
UNIDENTIFIED MALE: I'll be just under $100,000.
(END VIDEO CLIP)
HOLMES: Alison Kosik is with me now from the New York Stock Exchange about the president's proposals.
A hundred thousand dollars? I don't know where that kid is going to school. I assume he's getting a law school degree or something.
ALISON KOSIK, CNN BUSINESS CORRESPONDENT: Yes, you'd think.
And, you know, it is tough out there when you take out that much money in loans. So what the president is doing is he's offering two initiatives to help college graduates out who took out loans.
So, for one, he's going to be giving families an incentive to consolidate student loans. What it would do, it would lower the interest rate that you're paying by a half a point. But keep in mind, the half-percent break is only going to be for a limited time.
The second thing President Obama is looking to do is push up the start date for a program that actually ties your repayment schedule to your income. Now, this program is already in place, but what the president is looking to do is make the terms better by lowering the monthly payments, and after 20 years the loan would actually be forgiven.
So that sweetened offer, it was set to go into effect in 2014. President Obama is pushing the start date up two years, to 2012. But keep in mind, this is only for new loans made. So if you currently are under a mountain of student loan debt, President Obama's proposals, they're not going to help you -- T.J.
HOLMES: All right. That's an important note for a lot of people, even those recent graduates. This can't help them. This is for folks who are getting new loans. So that's something to add.
KOSIK: Exactly.
HOLMES: And also, Alison, it's amazing to hear the numbers of just how much student loan debt is out there.
KOSIK: Oh, yes. It really is amazing. And there are new numbers out from the College Board that look at how much it costs to go to college. And yes, it's costing big-time.
If you add up the average tuition, room and board and fees, that's up five percent this year. And you know what that means? It means families are taking on more debt.
Look at the average student loan these days. At a four-year college, $24,000. And you try to pay that off if you don't have a job, and a lot of people don't.
The unemployment rate for college grads 24 years of age and under, it's above average, at 9.4 percent. So even if you go through college, it's really tough just to get out there and find a job, T.J., and pay back those loans.
HOLMES: They tell you us, you've got to go to college if you want to get a good job. And a lot of kids are not finding that at the end of graduation.
KOSIK: I know.
HOLMES: Alison Kosik, thank you so much. And we've been talking about the president here. He will be promoting his new measures and remarks at the University of Colorado's Denver campus. That's scheduled for 12:45 Eastern Time, less than a half hour from now. We will take you there live.
Also, some new information we were getting just a short time ago. This is according toe Reuters.
The new leadership in Libya says Moammar Gadhafi's son wants to turn himself in to the International Criminal Court at The Hague. Saif al-Islam Gadhafi has been on the run since rebels took Tripoli in August. He as been indicted on war crimes, charges relating to Libya's attempt to crush the uprising that brought down his father.
Now "CNN In Depth." With Moammar Gadhafi dead, American victims of Libyan-sponsored terror attacks are hoping for justice. They were to have been compensated for their physical and emotional injuries from the Libyan government, but as our Alina Cho now reports, the victims are still waiting.
(BEGIN VIDEOTAPE)
ALINA CHO, CNN CORRESPONDENT (voice-over): These victims came to us with their stories of horror.
JONATHAN POLLACK, TERROR VICTIM: I saw people dying in front of me.
ALEX ALIMANESTIANU, LIBYAN TERROR VICTIM: My kids ask about him a lot. And --
MARIA DIAZ, TERROR VICTIM: I look at my hands. I have skin and blood.
CHO: Maria Diaz was just 15 when she and her aunt were caught in the crossfire in the 1972 Lod Airport attack in Tel Aviv. Diaz was hit with a grenade. Her aunt, just 6 years older, 21, and newly engaged, was killed.
DIAZ: I would have given anything for that to happen to me, not to her.
CHO: After all these years, this is Diaz's first TV interview.
DIAZ: Four minutes, and it changed my whole life.
CHO: In the nearly 40 years since, Diaz says she still has pain in her legs, has endured eight surgeries, and has not seen a penny of the money the U.S. government promised she would get, money that's supposed to be taken from a $1.5 billion fund set up to compensate victims of Libyan-sponsored terrorism.
Instead, what Diaz got was this letter from the U.S. Treasury Department saying she would eventually get a prorated payment, 20 percent of what she is due.
(on camera): How much of the money have you seen?
DIAZ: At this point, I haven't seen any.
CHO (voice-over): The problem, say these victims, is that the government miscalculated, and that there's not enough money left in the compensation fund for more than 200 victims, an estimated shortfall of $350 million. But the State Department says it's too early to say there will be any shortfall.
The State Department would not go on camera but told CNN, "It is premature to determine that there will be a shortage of settlement funds. Roughly half the claims are still being processed."
(on camera): Some of the money was distributed to some of the victims.
POLLACK: Lockerbie and La Belle discotheque, which at the time as you probably recall were the attacks that most people knew about.
CHO: The most high-profile.
POLLACK: The most high-profile attacks. There were a lot of attacks people don't recall.
CHO (voice-over): Like the one in which Jonathan Pollack was injured at the Rome airport in 1985.
POLLACK: If you were injured, you were entitled to $3 million. If you were killed, $10 million -- your family, of course, for wrongful death.
CHO (on camera): So you thought, OK. Eventually, I'll get this money.
POLLACK: I did.
CHO (voice-over): Pollack has received $600,000, but it's 20 percent of what he's owed.
SEN. CHUCK SCHUMER (D), NEW YORK: It's insulting to say you'll get a prorated amount now and not guaranteeing that you'll get the whole amount later is insulting.
CHO: Neither Pollack nor Diaz were among those who sued Libya for damages, but they are entitled to claims from the same fund under a law Congress passed to cover victims of state-sponsored terrorism.
ALIMANESTIANU: We did fight in federal court.
CHO: Alex Alimanestianu was a litigant in the historic case that led to the U.S.-Libyan agreement to compensate victims. He lost his father on UTA Flight 772 when it exploded over the African desert in September 1989.
His family has been paid $2 million of the $10 million that was owed to them. ALIMANESTIANU: I blame the U.S. government. Clearly, they didn't do their homework and were rushing to make a deal with the devil.
The amount of the money is not really the issue. It's really about justice.
CHO: Alina Cho, CNN, New York.
(END VIDEOTAPE)
HOLMES: We're going to turn to some medical news here in a moment. A lot of people out there -- maybe you're one of them -- had an MRI before. It's basically giant magnets. Did you know that? And that tremendous pull can cause a few accidents, like a chair sucked up in its grip? Now the FDA is ready to do something about this.
(COMMERCIAL BREAK)
HOLMES: Well, more people are getting MRIs than ever before. They can surely be life-saving. But when used the wrong way, they can hurt and even kill you. The FDA is continuing a workshop on how to prevent accidents.
Senior medical correspondent Elizabeth Cohen, here to explain.
What kind of accidents are we talking about here?
ELIZABETH COHEN, CNN SENIOR MEDICAL CORRESPONDENT: I know. You never think when you go to an MRI that the MRI itself might cause problems. And usually it doesn't. Usually, it's completely safe and fine.
HOLMES: Usually, but they're having a workshop on it.
COHEN: But they're having a workshop on it because they're having some problems because the "M" in MRI stands for "magnetic."
HOLMES: OK.
COHEN: And you've got this big, very powerful magnet there, and that means you don't want to have metal in the room. And most places are great about this. They make sure.
But here is a photo demonstrating what can happen when metal gets near an MRI machine. You see the chair? Stuck to the MRI machine. There's another chair.
If you are in that MRI machine, imagine -- here is a cart stuck to it because it's metal. If you're inside that MRI machine, you can only imagine the damage that it could do.
And I'm going to show you a video now where researchers tried to reenact or tried to sort of take a look at what happened to a little boy who was in an MRI machine, someone walked in with an oxygen canister to the room, and that's -- yes. So, the oxygen canister was attracted to that magnet. It killed the little boy, and so they kind of recreated this with the watermelon.
HOLMES: Oh my goodness.
COHEN: So the workshop is about how to stop these kinds of accidents from happening.
HOLMES: OK. I assume there are rules in place for this.
And Elizabeth, I'm going to have to go to the president here. I want to -- I'm very curious about this, so I don't know if we'll get a chance to get you back.
COHEN: Any time I'll come back. I hope so.
HOLMES: OK.
Let's throw it to the president. He's out in Denver right now, talking to students at the University of Colorado Denver campus, but talking about students loans and some new rules he's about to put in place that's supposed to make it easier for kids who are going to just be in a lot of debt when they graduate.
Let's take a listen.
(JOINED IN PROGRESS)
BARACK OBAMA, PRESIDENT OF THE UNITED STATES: Is this actually late? It's late for Denver, huh?
Well, I want to start by thanking Mahala (ph) for the wonderful introduction and for sharing her story, which I know resonates with a lot of young people here.
I want to thank your outstanding governor who is here. John Hickenlooper is in the house. There he is.
(APPLAUSE)
The mayor of Denver, Michael Hancock, is in the house.
(APPLAUSE)
The lieutenant governor, Joe Garcia, is in the house.
And one of the finest public servants, somebody you were wise enough to elect and then reelect as United States senator, Michael Bennet, is in the house.
(APPLAUSE)
You guys do a good job when it comes to elected officials in Colorado. I just want you to know you have a good eye for talent.
UNIDENTIFIED FEMALE: We love you!
OBAMA: I love you back. I do. Now, I've been doing a lot of traveling lately, and the reason I've been hitting the road so much is because the folks I'm talking to in cities and small towns and communities all across America, they're -- let's face it, they're making a little more sense than the folks back in Washington.
(APPLAUSE)
You know, here in Colorado, you've got folks who are spending months, some years, looking for work. You've got families who are making tough sacrifices just to pay the bills or the mortgage or college tuition. And Americans know we need to do something about it. And I know this is especially hard for a lot of young people.
You know, you guys came of age at a time of profound change. Globalization and technology have all made the world much more competitive. Although this offers unmatched opportunity -- I mean, the way that the world is now linked up and synced up means that you can start a business that's global from your laptop. But it also means that we are going to have to adapt to these changes. And for decades, too many of our institutions, from Washington to Wall Street, failed to adapt, or they adapted in ways that didn't work for ordinary folk, for middle class families, for those aspiring to get into the middle class.
We had an economy that was based more on consuming things and piling up debt than making things and creating value. We had a philosophy that said if we cut taxes for the very wealthiest, and we gut environmental regulations, and we don't enforce labor regulations, and somehow if we let Wall Street just write the rules, that somehow that was going to lead to prosperity.
And instead what it did was culminate in the worst financial crisis and the deepest recession since the Great Depression.
Now, for the last three years, we've worked to stabilize the economy, and we've made some progress. An economy that was shrinking is now growing, but too slowly. We've had private-sector job growth, but you it's been offset by layoffs of teachers and police and firefighters at public sector. And we've still got a long way to go.
And now, as you young people are getting ready to head out into the world, I know you're hearing stories from friends and classmates and siblings who are struggling to find work and you're wondering what's in store for your future.
(UNKNOWN): (OFF-MIKE)
OBAMA: And I know that can be scary. So the...
(UNKNOWN): (OFF-MIKE)
(APPLAUSE)
OBAMA: The -- the -- we're -- all right. (UNKNOWN): (OFF-MIKE)
OBAMA: Thank you, guys. We're looking at it right now, all right? No decision's been made. And I know your deep concern about it, so we will address it. Now, the -- so here's what I also know. And I know that's true for folks who are concerned about the environment, folks who are concerned about foreign policy, but also folks who are concerned about the economy. When I look out at all of you, I feel confident, because I know that, as long as there are young people like you who still have hope and are still inspired by the possibilities of America, then there are going to be better days for this country.
(APPLAUSE)
I know that we are going to come through this stronger than before. And when I wake up every single morning, what I'm thinking about is, how do we create an America in which you have opportunity, in which anybody can make it if they try, no matter what they look like, no matter where they come from, no matter what race, what creed, what faith?
And the very fact -- the very fact that you are here investing in your education, the fact that you're going to college, the fact that you're making an investment in your future tells me that you share my faith in America's future.
(APPLAUSE)
You inspire me, your hopes and your dreams and your opportunities. And so the truth is, the economic problems we face today didn't happen overnight and they won't be solved overnight. The challenges we face on the environment or on getting comprehensive immigration reform done, on all of these issues, we are going to keep on pushing.
And it's going to take time to restore a sense of security for middle-class Americans. It's going to take time to rebuild an economy that works for everybody, not just those at the top. But...
(APPLAUSE)
But there are -- there are steps we can take right now to put Americans back to work and give our economy a boost. I know it. You know it. The American people know it. You've got leaders like Michael Bennet and Mark Udall and Diana DeGette that are looking out for you.
But the problem is, there are some in Washington...
(UNKNOWN): (OFF-MIKE)
(LAUGHTER) OBAMA: There are some in Washington who don't seem to share the same sense of urgency. You know, last week, for the second time this month, Republicans in the Senate blocked a jobs bill from moving forward.
(BOOING) Now, this is a jobs bill that would have meant -- would have meant nearly 400,000 teachers and firefighters and first responders back on the job.
(APPLAUSE)
It was -- it was the kind of proposal that in the past has gotten Democratic and Republican support. It was paid for by asking those who have done the best in our society, those who have made the most, to just do a little bit more. And it was supported by an overwhelming majority of the American people. But they still said no, and it doesn't make sense.
How -- how can you say no to creating jobs at a time when so many people are looking for work? It doesn't make any sense.
So the truth is, the only way we can attack our economic challenges on the scale that's necessary, the only way we can put hundreds of thousands of people, millions of people back to work is if Congress is willing to cooperate with the executive branch and we are able to do some bold action, like passing the jobs bill. That's what we need.
(APPLAUSE)
And that's why I'm going to keep -- I am going to keep forcing these senators to vote on commonsense, paid-for jobs proposals. And I'm going to need you to help send them the message. You don't need to tell Michael Bennet; he's already on the page. But -- but I'm going to need you guys to -- to be out there calling and tweeting and all -- all the stuff you do.
(LAUGHTER)
But -- but, listen, we're not going to wait, though. We're not waiting for Congress. Last month, when I addressed a joint session of Congress about our jobs crisis, I said, I intend to do everything in my power right now to act on behalf of the American people with or without Congress.
(APPLAUSE)
We can't wait for Congress to do its job. So where they won't act, I will. (APPLAUSE)
And that's why in recent weeks we've been taking a series of executive actions. We decided we couldn't stop -- we couldn't just wait for Congress to fix No Child Left Behind. We went ahead and decided, let's give the states the flexibility they need to meet higher standards for our kids and improve our schools.
(APPLAUSE)
We said we can't wait for Congress to help small businesses. We're going to go ahead and say to the federal government, pay small businesses faster if they're contractors so they've got more money and they can start hiring more people.
(APPLAUSE)
We said we're not going to wait for Congress to fix what's going on in our health care system. We eliminated regulations that will save hospitals and patients billions of dollars.
And yesterday -- yesterday we announced a new initiative to make it easier for veterans to get jobs, putting their skills to work in hospitals and community centers.
(APPLAUSE)
On Monday, we announced a new policy that will help families whose home values have fallen to refinance their mortgages and to save up to thousands of dollars a year.
All these steps aren't going to take the place of the needed action that Congress has to get going on. They're still going to have to pass this jobs bill. They've got to create jobs. They've got to grow the economy. But these executive actions we're taking can make a difference.
And I've told my administration, we're going to look every single day to figure out what we can do without Congress. What can we do without them?
(APPLAUSE)
Steps -- steps that can save you money and make government more efficient and responsive and help heal this economy. So we're going to be announcing these steps on a regular basis. And that's why I came to Denver today, to do something that will be especially important to all of you here at CU Denver and millions of students and former students all across America.
Now, I mentioned that we live in a global economy where businesses can set up shop anywhere where there's an Internet connection, so we live in a time when over the next decade 60 percent of new jobs will require more than a high school diploma. And other countries are hustling to out-educate us today so they can out-compete us tomorrow. They want the jobs of the future.
I want you to have those jobs.
(APPLAUSE)
I want America to have those jobs. I want America -- I want America to have the most highly skilled workers doing the most advanced work. I want us to win the future.
So that means we should be doing everything we can to put a college education within reach for every American.
(APPLAUSE)
That has never been more important. It's never been more important, but let's face it, it's also never been more expensive. There was a new report today, tuition going up again on average, much faster than inflation, certainly much faster than wages and incomes.
Over the past three decades, the cost of college has nearly tripled, and that is forcing you, forcing students to take out more loans and rack up more debt. Last year, graduates who took out loans left college owing an average of $24,000. Student loan debt has now surpassed credit card debt for the first time ever.
Now, living with that kind of debt means making some pretty tough choices when you're first starting out. It might mean putting off buying a house. It might mean you can't start a business idea that you've got. It may mean that you've got to wait longer to start a family, or certainly it means you're putting off saving for retirement, because you're still paying off your student loans.
And when a big chunk of every paycheck goes towards student loans, instead of being spent on other things, that's not just tough for middle-class families. It's painful for the economy, and it's harmful to our recovery, because that money's not going to help businesses grow.
And let me say this. This is something Michelle and I know about firsthand. I've been in your shoes. We did not come from a wealthy family. I know...
(APPLAUSE)
You know, I was raised mostly by a single mom and my grandparents. And Michelle -- Michelle, you know, she had sort of a "Leave It To Beaver" perfect family, but...
(LAUGHTER)
But -- she did. They're wonderful. (LAUGHTER)
But, you know, her dad was -- was a blue-collar worker, and her mom stayed at home and then was -- when she did go to work, she worked as a secretary. So our folks didn't have a lot of money. We didn't even own our own home. We rented most of the time that we were growing up.
So by the time we both graduated from law school, we had between us about $120,000 worth of debt. You know, we -- you know, we combined and got poorer together.
(LAUGHTER)
So -- we combined our liabilities, not our assets.
(LAUGHTER)
So we were paying more for our student loans than we paid on our mortgage each month.
And, look, obviously, we were lucky to -- to have gotten a great education. We were able to land good jobs with a steady income. But it still took us almost 10 years to finally pay off all our student debt, and that wasn't easy, especially once we had Malia and Sasha, because now we're supposed to be saving for their college, but we're still paying for ours.
(LAUGHTER)
So the idea is, how do we make college more affordable? And how do we make sure you are burdened with less debt?
Now, college -- keep -- keep in mind, college isn't just one of the best investments you can make in your future. It's one of the best investments America can make in our future. So -- so we want -- we want you in school.
(APPLAUSE)
We want you in school. But we shouldn't saddle you with debt when you're starting off. So that's why, since taking office, we've made it a priority to make college more affordable, reduce your student loan debt.
Last year, we fought to eliminate these taxpayer subsidies that were going to big banks. They were serving as middlemen in the student loan programs. Some of you may have heard about this. So even though the loans were guaranteed by the federal government, we were still paying banks billions of dollars to be pass-throughs for the student loan program. And we said, well, that's not a good idea.
(LAUGHTER)
That's not a good -- now, of course, there were some in Washington who opposed me on this. That's surprising, I know, shocking.
(LAUGHTER)
So you had -- you had some Republicans in Congress who fought us tooth and nail to protect the status quo and to keep these tax dollars flowing to the big banks, instead of going to middle-class families. One of them said changing it would be an outrage.
The real outrage was letting banks keep these subsidies while students were working three jobs just to try to get by. That was the outrage.
(APPLAUSE)
T.J. HOLMES, CNN ANCHOR: All right, been listening to the president talking to students out at UC-Denver. He's outlining a student loan program. Giving some of his own personal history there. But a program directive (ph) they're going to put in place that will help students in two ways with their student loans. One of them will allow them to push up the start date of a program that allows kids to only pay 10 percent of their income, the discretionary income, towards student loans. That program is going to start a little earlier than originally thought. So it will start up next year.
And the other plan was a measure that would allow graduates with different kinds of student loans to consolidate them and actually get a break on their interest rate. So he's laying that out in front of college students. College students, right now, drowning in a mound -- just a mountain of debt right now. Expected to hit $1 trillion, the combined student loan debt in this country for the first time ever expects to hit $1 trillion. And at this time there is more student loan debt in the country than credit card debt. So the president trying to do something about that, outlining those plans out there.
You may have noticed at one point there -- and we were told by our producer on the ground -- that some kids there were actually heckling the president and were actually asking him a question about an environmental issue. He actually addressed them at one point, but we're told that 10 students had to be escorted out when they were trying to disrupt things and get the president's attention. They did, but still were escorted out.
More on the student loan plan you will certainly hear on CNN throughout the day. But as we get close to a quarter till the top of the hour, comparisons now being made between the protests sweeping the country and the revolution sweeping the Arab world. Look at the similarities and the differences with our correspondent who has been on the front lines of all of the Arab uprisings.
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HOLMES: With the Occupy Wall Street protests growing and spreading from cities coast to coast, a lot of people asking the question and starting to notice maybe some similarities between what we're seeing here and the Arab spring that we have seen. Thousands of people fed up with corporate greed and corruption taking to the streets.
Our Ben Wedeman, who has covered each of the Arab Spring revolutions, is in New York for us.
And, Ben, just from your perspective and what your seeing here in New York and what you've seen in those Arab spring uprisings, do you see similarities?
BEN WEDEMAN, CNN SENIOR INTERNATIONAL CORRESPONDENT: Well, there are similarities. There does seem to be a general unhappiness certainly among the people here and also those just passing by I've spoken with. It seems -- many of them seem to sympathize with what they're calling for.
But in terms of scale, there's really no comparison. I mean this is a relatively small, geographical area. There are only a few hundred people here. In Tahrir Square in Egypt, for instance, there were tens of thousands, indeed hundreds of thousands of people occupying the heart of the Egyptian capital. In a sense, paralyzing the city. Here, you go one block from here and you wouldn't really realize there's anything going on.
So there are similarities. I mean, for instance, other similarities, T.J., is that they do seem to have organize themselves, they're cleaning up after themselves, there are competes that provide food and security. That's very much like Tahrir. But in terms of scale, just no comparison.
HOLMES: What about in terms of a comparison of a defined objective?
WEDEMAN: Well, in Tahrir, from the very beginning, the afternoon of the 25th of January, they had one very clear objective -- rather objective, and that was to bring down the regime of Hosni Mubarak. That's -- there's no really -- there was no question about that.
Here you see a variety of causes being pushed. Some of them not necessarily related to Wall Street at all. For instance, there's one group of people protesting against Indian doctors in India. So there really isn't much of a comparison. There, obviously, is a lot of anger and resentment against Wall Street, but the message is much more diffused than what we saw in Egypt, Tunisia and certainly Libya.
T.J.
HOLMES: Ben Wedeman, good to get your perspective today for us in New York. Thanks so much. As we get close to the top of the hour, we'll continue with the conversation about the Occupy Wall Street protests in today's "Talk Back" question. What would Jesus do? What Jesus occupy Wall Street? Here's one response we got. Leon says, "by all means, yes. Jesus is not against wealth, but greed. Oh, yes." More of your responses next with our Carol Costello.
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HOLMES: Let us say hello to Carol Costello once again. She has been looking to your responses to today's "Talk Back" question.
Just, general idea, what kind of responses you get today?
COSTELLO: A lot of responses.
HOLMES: OK.
COSTELLO: We almost set a record, T.J.
HOLMES: Oh, wow.
COSTELLO: The question today -- the question today, would Jesus occupy Wall Street?
This from Robert. "Jesus would not be concerned about political and economic issues as either the Christian right or Christian left claim he would be. Remember that he said his kingdom was not of this world. So, no, he would not be occupying Wall Street."
This from Jake. "Carol, you said Jesus was about community helping people, not government helping people. Occupy Wall Street is the community helping people. I think Jesus would definitely occupy Wall Street and you'd probably find him working the kitchen tent."
This from Jill. "Jesus did not favor people being taken care of by the government, but that is not what the Occupy movement is about. It's about giving government back to the people instead of having lobbyists and corrupt corporations run our country."
And this from Dennis. "Jesus would go to occupy Wall Street, gather his friends, Buddha and Mohammed, then spread so much peace and love that everyone would gather for a big group hug and try really hard to get along. Love would win."
I think that's my favorite response of all.
Thank you for your comments. Keep the conversation going, facebook.com/carolcnn.
HOLMES: You know, that's my favorite as well. We should try that. We all need to get together and just give each other a big old hug one of these days.
COSTELLO: Yes.
HOLMES: Carol Costello.
COSTELLO: And then we'd probably go back to fighting. But at least for that moment it would be great.
HOLMES: I can hope. Carol Costello, thank you so much today.
COSTELLO: Sure.
HOLMES: And folks know, if you are planning an outdoor wedding, you take your chances with the weather. That's why if you're trying to have one right about now, you have it in Arizona. You've got a pretty good chance with weather right now. Well, not so fast. You forget about the dust storm situation out there. Stick around to see what happened here.
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HOLMES: Give you a look at some of the stories making news cross country.
Colorado dealing with a cold, slushy mess after much of the state was hit with a snowstorm overnight. This wet, heavy snow snapped tree limbs and power lines. Drivers in Denver are dealing with icy roads today.
Also, if you're having an outdoor wedding, you know you're at the mercy of the weather. Well, last month, Florence, Arizona, they thought the weather would cooperate. It wouldn't be so cold. But that wasn't the problem. We had a dust storm that kick up just a few minutes after the ceremony started. Now to a lot of folks this would be a sign that maybe you should not be getting married. But, instead, the bride said at first she was upset but then they laughed it off, went right through, got married and hopefully there will be a happily ever after.
Also, traffic is flowing smoothly once again on interstate -- on this interstate in Oklahoma. But a different story Tuesday. Twenty dollar bills were flying all over the place and, you bet, everybody stopped, parked and tried to go grab some twenties. Emergency road workers came out, they found the zippered bag, the bank bag. It just had one twenty dollar bill left. Some folks who picked up the money say they will give it back.
And, Randi Kaye, who is in Los Angeles, I say, yes right.
