The President explains his plan to address one of the major causes of the current economic crisis – the breakdown of oversight leading to widespread abuses in the financial world.

The new Consumer Financial Protection Agency will have the sole job of looking out for the financial interests of ordinary Americans by banning unfair practices and enforcing the rules.

The President has long noted that skyrocketing health care costs will be disastrous for our long term national debt unless we pass real reform.

In this Weekly Address, the President also explains how he will cover the upfront costs of reform by eliminating overpayments to Medicaid and Medicare and driving down costs contributing to governments health care expenditures across the board.