Oval Office Interview with President Barack Obama

President Obama sat down with Black Enterprise Magazine for an exclusive interview in which he talks about black businesses and unemployment.

August-2012-Cover

In three months voters will head to the polls to decide whether to give President Obama a second term. This election will communicate whether the electorate believes his continued occupancy of 1600 Pennsylvania Ave. will fulfill his promise of sustained economic growth and shared prosperity. Black Enterprise recently gained the opportunity to interview him for the first time in the Oval Office. In a Q&A session with BE Editor-in-Chief Derek T. Dingle, he talked about his support of black business, policies to advance small companies, and completing his ambitious agenda.

As you campaign for re-election, what do you communicate to
black businesses that will make them enthusiastic supporters?
The first thing is to understand that we have just gone through the worst financial and economic crisis in our lifetimes. And my first job as president was to make sure that we didn’t slip into a second Great Depression. We were losing 800,000 jobs a month. Banks were locked up. Credit was frozen. The auto industry was about to go under. And because of the steps that we took, we have now seen two straight years of job growth, 4 million jobs created, [the] strongest manufacturing growth since the 1990s, unemployment has started to come down, and the auto industry is back. All of those steps that we took had an impact on black businesses just like they did businesses generally.

Let’s take the auto industry. You know the number of black businesses that are involved in the supply chain and that are involved in various services, whether it’s advertising or other aspects of the industry. They have all been impacted positively by the steps that we took. Now does that mean that we’ve done enough? Absolutely not.

The African American community ends up being hurt during recessionary times more than the population at large. [The] African American unemployment rate is still way too high. You had a credit crunch for small- and medium-sized businesses that disproportionately impacted African American businesses. But part of what we have been able to do is to specifically focus on disadvantaged businesses, disadvantaged communities. The Small Business Administration, for example, which is a significant source of financing for minority- and women-owned businesses, has stepped into the breach by expanding their loan portfolios and cutting their fees at a time when a lot of banks and other financial institutions just pulled back. Some of the work that we did legislatively, like the New Markets Tax Credit, makes a huge difference specifically for African American businesses.

How do you respond to criticism that your administration hasn’t done enough to support black businesses?
My general view has been consistent throughout, which is that I want all businesses to succeed. I want all Americans to have opportunity. I’m not the president of black America. I’m the president of the United States of America, but the programs that we have put in place have been directed at those folks who are least able to get financing through conventional means, who have been in the past locked out of opportunities that were available to everybody. So, I’ll put my track record up against anybody in terms of us putting in place broad-based programs that ultimately had a huge benefit for African American businesses.

The resurrected financial services industry hasn’t stepped up in terms of providing adequate capital to small- and minority-owned businesses.
There is no doubt that American taxpayers stepped in and pulled the banking industry out of the fire. It was controversial. It was messy. Ultimately it was the right thing to do for the economy. But it is true that once banks got back on their feet they haven’t been as aggressive in lending to small and medium-sized businesses as we would like. And I’ve had conversations with the major banks about this issue. What they will say is that some of the additional regulations have impeded some of their capacity to lend. We don’t see major evidence of that.

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156 Responses to Oval Office Interview with President Barack Obama

  1. Pingback: » BLACK ENTERPRISE Exclusive: Oval Office Interview With President Barack Obama » Latin Business Today

  2. Reese On The Radio says:

    This was the weakest interview of an American President in the history of the union. I should never have expected a black reporter to challenge the first black POTUS.

    Mr. Dingle, couldn’t you have approached this interview the way you would have done with George W. Bush? If not, why? You are the reason Pres. Obama has been able to waltz through interviews and not receive the true scrutiny of the press and more importantly, the black electorate.

    He failed to address the high unemployment rate in the black community by responding with some diatribe about the public sector. Blacks work in the private sector overwhelming. Teachers, firefighters and police are not the fields of employment dominated by the black community. YOU KNOW THAT! Yet, nothing as a follow up.

    I’m ashamed of your reporting and shilling for this failed President.

    • Anonymous says:

      It wasn’t a great interview, but the president responds with the same evasive, in-substantive answers when pressed by more probing and persistent reporters. In fact, he becomes outright peevish when put on the spot. Recall his BET interview in 2011 — the reporter let him know in so many words that his responses weren’t good enough, and the president practically sulked out of the room when it was over.

      This president is just awful for African American interests. Even great reporters can’t fix that by themselves. It’s gonna take more of us holding his feet to the fire and letting him know that his avoidance and cowardice are simply not enough.

      • j425 says:

        How do you think you can hold his feet to the fire?? He already knows he has the black vote! Other than that he doesn’t care!

    • carl wright says:

      This reporter along with many AA reports have and are doing the AA community a disservice of kissing Obama rear end.

    • Reggie Aiken says:

      JUST WAIT UNTIL THE BLACK PEOPLE FIND OUT THAT OBAMA KILLS BLACK FOLKS AND HAS FOOLED THE WHOLE BLACK RACE>>IT”S COMING OUT>>SOON< OBAMA BETRAYAL TO US CITIZENS HAS RODNEY KING’S BLOOD ON HIS HANDS WITH OTHERS…MUST SEE >>>>http://youtu.be/p_bXx_UcVYQ

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  9. 1Georgia_Girl says:

    Really, Mr. President?

    Wow! Thanks for clearing that up for us. Our devoted, “white man can do no wrong – ‘Uncle Ruckus’ style love” is no longer required, . huh?. Explains why we “ain’t got no love from you” since our honeymoon, don’t it?

    Thanks for informing us AAs that we are probably not tallied up in “We The People” constituency of the Democratic/Progressive Party of America any more; nor are we even appreciated as the voting block that historically and overwhelmingly voted for you in 2008. Since we aren’t specifically represented by you, on the record now, or even relevant to the Democrats and ‘y’all’s re- election, ( Yeah, I said y’all), then I won’t feel so bad about not voting for y’all in 2012.

    O.M G!!!

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  14. Keli25 says:

    He’s not the president of black america, yet he needs the black vote!! When other groups holler they get his attention, when we do we’re told to stop complaining and put on our marching boots. We defend him the most and get shitted on by him in the process. Black unemployment is through the roof and we have no right to complain? I’m sorry but singing Al Green and going to Harlem for a fundraiser(not to listen to regular folk problems) is just not going to cut it anymore.

    • j425 says:

      ..and yet the black community will vote for him anyway!!!

      • nikki says:

        not everyone. some folks will just stay home.

        • j425 says:

          Why would people elect to stay home? That doesn’t make any sense. Here we have someone who clearly doesn’t care about the people of this country, yet he wants their vote. Instead of uniting and fighting against this kind of ridiculous behavior, people will choose to stay home? It isn’t make sense!

    • Reggie Aiken says:

      JUST WAIT UNTIL THE BLACK PEOPLE FIND OUT THAT OBAMA KILLS BLACK FOLKS AND HAS FOOLED THE WHOLE BLACK RACE>>IT”S COMING OUT>>SOON< OBAMA BETRAYAL TO US CITIZENS HAS RODNEY KING’S BLOOD ON HIS HANDS WITH OTHERS…MUST SEE >>>>http://youtu.be/p_bXx_UcVYQ

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  17. Pingback: THIS EXPLAINS WHY THE BLACK COMMUNITY HAS ITS UNEMPLOYMENT AT 15% EXCESSIVELY HIGH THAN THE NATIONAL AVERAGE – WHEN THIS PRESIDENT HAS NOT ONE AGENDA IOTA TO GROW THIS ECONOMY OR JOBS BUT HIS GOAL HAS BEEN TO STIFLE JOB CREATION THROUGH EXCESSIVE TA

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  21. Ken Drift says:

    Weak interview, disappointing.

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  26. James says:

    Sounds like Bart Simpson Obama to me. “I didn’t do it. It wasn’t my fault.” Like Bart Simpson Obama has never grown up.

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  30. Blaming State and Local governments and Congress for the
    high unemployment of AA’s is an insult to my intelligence. The liberal,
    progressive agenda of the Democrat Party has been conditioning people to look
    to the government to take care of them: using them as political pawns, Obama
    himself has been spreading the wealth but none of it went to the people who
    needed it the most…..” the only thing their communities get are soup kitchens
    and homeless shelters run by not-for-profit organizations. “I don’t care how
    poor you are, you got 5 dollars, 10 dollars for this campaign”…….this
    exploitation is an absolute disgrace.

    • Proof please?

      Let me get this straight. The Democratic Party has been conditioning people to let the government take care of them? President Obama has been spreading the wealth? How, when, where?

      Why do we blame Congress? Because their inaction has caused the slowest recovery from an economic downturn since the 1880s. They’ve voted more on repealing the Patient Protection and Affordable Care Act than on the American Jobs Act. That’s just the beginning. My man, you are entitled to vote for whoever you choose. But stating untruths as facts is the problem. Tell the truth, shame the devil!

  31. Jackson1961 says:

    What is it with the Democratic Party of America refusing to accept personal responsibility for their actions and inactions…everything and I mean everything is someone else’s fault and somehow they feel like every “thing” they want or need should be given to them rather than earned. This entitlement mentality is either going to have to stop, or this nation is wholly ruined. They can ride the backs of the industrious only for so long, then the industrious succomb to the over-bearing forces of carrying more than they can endure. Somebody has to break it to them, the sad news: government has no money of their own – is ALL comes from us; government is not divine – it is run by human beings just like theirselves; government does not own the responsibility of raising you and your children – grow up!

    • Abdicating personal responsibility=slavery under a new
      formula depriving AA of their unalienable rights guaranteed under the US
      Constitution (we have to take care of these people who don’t have the
      intelligence to think for themselves and capability of taking care of
      themselves)…when Judge Janice Rogers Brown (AA woman and mother) made the case
      in “A Whiter Shade of Pale”….Democrats
      and their cronies in the public sector tried to assassinate her character in an
      attempt to derail her nomination to one of the highest courts in the nation…..….because
      she supports the US Constitution which guarantees the individual liberty of
      every American regardless of the race. This high unemployment among black Americans
      shows that the Democrats and their programs ain’t looking out for you……!

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  38. Vanco52 says:

    Good Morning All,

    I Thought The Interview Was Direct And As Fair As Most.

    President Obama, In My Opinion, Responded Truthfully And From His Heart. He Is Not Just A President For Black America, You All Should Know This Fact, He Is POTUS For All.

    I Am Pleased To See That The Black Chamber Of Congress Along With Black Owned Banks Are Now Beginning To Step To The Plate To Help Assist Our Businesses With Loans To Create Jobs In Our Communities.

    Many Of Our People Complain About President Obama Not Doing Enough In Our Commjnities, Yet, We Are The First To Spend Our Money Outside Of Our Own Communities. This Is A Much Larger Issue Than Some Care To Talk About. Even When We Are Blessed With Employment And Plenty Money, Where Do We Spend It?

    Black Communities Must Take Responsibility For Our Own Employment By Supporting And Spending With Black Owned Businesses. This Is Not Just A Community Problem But A Systematic Problem. How Can Africa Be The Poorest Nation On Earth When It Has All The Gold, Diamonds, Oil, Ivory, Iron Ore, Cooper, ,Ect?

    President Obama Has Done A Fine Job, In Spite Of The Most Partial Congressional And GOP Run House Of Reps In U.S. History.
    I Am Proud And Honored To Vote To ReElect President Barack Obama To Serve The People Of This Nation For Four More Years. Together, He, We, First Lady Michelle Obama, And All That Stand For Truth Will Make Our Nation And Our Communities

    • Jackson1961 says:

      How do you do that…uppercase every single word?

    • Blackbandit says:

      ^^^ Really really sad.

    • Nikki says:

      you got to be kidding me with this response… you must work for his campaign. why do we elect politicians? we elect them to to represent our interest. if i’m a black person in american, what’s wrong with me demanding that my elected official address my needs and concerns? that’s called democracy. but obama’s got you so called supports brain washed. believing its okay for him to ignore our interest. if a white person would have made the exact comments your president made in this article you’d call that person a racist. Obama forgets himself. he really has lost his mind.

      • I thought the same thing……. Campaign troll Alert !! And regarding this “That Stand For Truth Will Make Our Nation And Our Communities” you gotta be smoking the kool aid, cuz el preezy aint never told the truth in his entire career. Simply astonishing the level of ignorance people have on such matters.

      • ThisBlackManDespisesObamaNow says:

        Nikki, thank you so much for using your brain. It’s sickening to reads some of the lame excuses posted by Obamabots. These people worship one man that continuously insults them, ignores them, and treats them like trash, but they continue to endure the degradation imposed on them by Obama, their god.

        I care too much about the millions of my fellow Black Americans that have lost their jobs, homes, and their wealth to sit back and make excuses for one man that has no problem feeding his children and his small family. Unlike most Blacks that voted for Obama in 2008, I will be voting straight Republican in November. I was going to stay home, but that’s not teaching Obama or the Democrats a lesson, and it’s not opening a door for Republicans to seriously start pursuing Black votes. I’m tired of being taken for granted, and I’m tired of being afraid to try something new.

        Another reason for voting straight Republican is to do my part to evict each and every CBC member that has remained quiet for almost 4 years, while Obama has neglected Black Americans, while he bowed down and kissed the asses of other groups: gays, Jews, Whites and Latinos.

    • Anonymous says:

      How can Africa be a nation at all?

      I agree that we should be working to maximize purchases from African American companies though. But what’s the president doing to help with that? When’s the last time the First Lady wore an African American designer? And when was the time before that? How about the president? Is he wearing Ozwald Boateng or Brooks Brothers? What’s that say about their values?

    • Agreed and well said. We need to step outside of ourselves and realize that this world is bigger than just “black and white”.

  39. Vanco52 says:

    Together We Will Make Communities Better. It Takes All Of Us To Come Together.

    • Anonymous says:

      I guess we don’t need politicians at all then, huh? Don’t even matter if we vote, right?

      And since Pres. O’ isn’t president of Black America, well then, I guess he don’t need this Black American’s vote.

      Together, Kumbaya, We are the World, and all that.

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  43. Local unemployed georgian says:

    It is NOT mostly black at our local office ! I was in the office yesterday and most every time I am in the office it is mostly white and a good portion of them are over 40 or 50. What game are they playing again ? Also the office is located on the black side of town… so you tell me.

  44. carl wright says:

    Some Black people are brain washed and will always remain on the democrat plantation. Obama continues to tell his views concerning AA, but theyll vote for him 98% again.

  45. Nikki says:

    The president said ” I’m not the president of black America,” but he is. Clearly he doesn’t want my black american vote.

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  48. pamdix says:

    Gobbly gook! Oh, yeah, he cares!

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  50. 1Georgia_Girl says:

    It doesn’t matter if he cares, now. We care. Even a drunk or addict can wake up out of his/her drunken stupor or addiction and reclaim their dignity and self – respect. Some of us here are doing just that. It starts with one, in my case, six in our family who are staying home. Gays have a president who he lavishly expresses his support for, even the 800,000 illegals he gave work permits to who can’t even vote. 14s% unemployment in our hood and you don’t care? Why do my nephews/nieces need to register to vote for him? We loved and supported him when everyone critisized you like the Black Caucus, Tavis and Cornell, Tea party.

    Blacks can only bend over and grab their ankles so many times. Since you ain’t our pres. then its fair to say its time for me to stay home and time for PO and “Chelle” to go home. If that offends anyone, then just pray for me.

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  53. Kerry says:

    789 Billion for shovel ready Jobs right ? then after the money is funneled to state and local UNION’S he laugh’s not as shovel ready as I though now want’s billion more For Infrastructure was that not what the 789 billion was for ?? What has this person done to get reelected ?? Sorry but since he took the OATH of Office he has done nothing but run to get reelected Where is the Budget if he is the LEADER of his party ??

  54. CarolinaSistah says:

    And black people are wondering why we are suffering the problems we are suffering?

    Ho 4:6 “My people are destroyed for lack of knowledge: because thou hast rejected knowledge, I will also reject thee, that thou shalt be no priest to me: seeing thou hast forgotten the law of thy God, I will also forget thy children.”

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  69. ThisBlackManDespisesObamaNow says:

    To each of the posters that are clearly using their minds to judge Obama on his past 3+ years as President, I commend each of you. It’s refreshing to read a majority of Black responses that display critical thinking, as opposed to blind worship for a man that treats his Black worshipers like yesterday’s bowel movement.

    To each of the Intelligent Blacks on this board that refuse to be demeaned, ignored and taken for granted by Obama and by the CBC, I’d like to say “thank you” to each one of you.

    I will never be ashamed of being Black, but I’m ashamed that far too many Blacks are so dumb and has such low self-esteem that they are OK with being treated so badly and neglected by Obama and the CBC. I will not call him my President, because he’s not deserving of such an affectionate title from me.

    I won’t comment any further, because most of you have done a brilliant job stating the obvious about Obama failures and neglect of the Black community.

    Signed,

    I’m Proud of Each of The Critical Thinkers on This Site.

  70. Boo7 says:

    IT’s true that when Blacks voted for Obama most of us knew he was be President to ALL. He will not say out right to Blacks “this is what I will do for you”. HE is saying to Blacks make your children stay in school get college or a trade. THEN open up your OWN businesses so you can hire your own people. It’s the only way to get out of Poverty and make Blacks economically powerful like other races.

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