WASHINGTON (1/13/16)--President Barack Obama last night delivered his seventh and final state of the union address.
Looking out on the final year of his two-term presidency, the president's message centered less on specific policy issues for the next year and more on those that he believes will lead the country to its best long-term future.
Obama said the pace of change in the U.S. and in the world is accelerating and will continue to move faster and faster. He said it is the country's job to make that change work for its citizens.
He stated that a thriving private sector is the "lifeblood" of the country's economy, and added that there are "outdated regulations that need to be changed" and red tape that needs to be cut.
But, he said, if the country's working families are to garner greater opportunity or bigger paychecks, it will not happen by letting "big banks or big oil or hedge funds make their own rules at the expense of everyone else."
"Food Stamp recipients didn’t cause the financial crisis; recklessness on Wall Street did," he said.
CUNA Chief Advocacy Officer Ryan Donovan said after the president's speech, "President Obama is correct that Wall Street caused the financial crisis. What we also know is that credit unions did not and, in fact, played a critical role in the economic recovery by remaining a steadfast source of capital for their members, even in the roughest financial waters."