excerpt from interview by Eddie "Piolin" Sotelo last week in Los Angeles for a Univision radio program that aired Monday:
EPS: What can you tell the 50 million people that don't have a job right now, Mr. President?
POTUS: It's gonna take time for us to rebuild this economy after taking such a bad blow. Keep in mind what happened. We went through the worst crisis since the Great Depression, since the 1930s and so what happened was that the housing market collapsed, businesses shrank, banks weren't lending and we lost four million jobs before I was even sworn in. We lost almost another four million jobs in the first three months that I was sworn in. We lost eight million jobs before any of my economic plans had a chance to take effect. Now, we've worked very hard over the last two years to help to rebuild and stabilize the housing market, to put people back to work building roads and bridges and our infrastructure, saving jobs of teachers who were threatened to be laid off and now we have an economy that's growing again and we've seen in the private sector job growth for the last nine months. All that is important, but we have a long way to go and the key now is to help small business get loans so that they can keep their doors open and hire more workers and that’s especially important in the Latino community because Latino community's an entrepreneurial community. People like to start a business and they've gotta get financing and we've been putting a lot of emphasis on that. We've gotta make sure that we keep on building our infrastructure. A lot of Latino workers who are in construction, they could also be working to help to build new airport runways, new school construction, so getting projects going that can put people back to work right away, that's something that we've proposed. But it's gonna take a few more years. When you fall into such a deep hole, it takes time for you to climb back out. That's what we're doing right now. I feel confident that we're moving in the right direction. The one thing that we can't do is go back to the same policies that the Republicans had in place that resulted in this disaster in the first place.
EPS: I agree, Mr. President. We understand that, you know, you've been working a lot and you can count on us, you know, to help you so we can become, you know, united and together move forward in this beautiful country . . . I know, Mr. President, that it hasn't been easy for you.
POTUS: You know, let me say this, Piolín. You know, 'cause a lot of people say this to me, they say, oh, you know, you have a really hard job. You know, you have all these problems, everybody expects you to solve them right away, people are criticizing you and I say, you know what? The problems that I have are not nothing compared to the problems that people have every day if their losing their job, they may lose their mortgage, they're trying to figure out how to finance their kids' college education. This is a great privilege for me to be president and to be able to help people as much as I can and I get frustrated that we're not moving as quickly as I'd like. I'm not getting as much cooperation sometimes as I want in Congress, but I feel confident that we're making progress. I'll just give you one example. You know, we were able, because of the work that we did, to change how we finance the Student Loan Program to take tens of billions of dollars that used to go to the banks that are now going to Pell Grants and student loans. Millions of children, a lot of young Latino students, are now getting scholarships and grants that didn't get it before and are able to aspire to college. When you get something like that done, you feel good in the morning when you wake up because you know, okay, I still have a long check list of things I have to do, but at least we're making a difference right now.
EPS: I'm gonna tell you, Mr. President, that we're inviting my listeners to vote in this election. We’re gonna make a difference again because we did it on the last election.
POTUS: Absolutely.
read full transcript of Univision interview with President Obama:
http://latimesblogs.latimes.com/washington/2010/10/transcript-of-president-barack-obama-with-univision.htmlPresident Barack Obama signs the Executive Order on the White House Initiative on Educational Excellence for Hispanics, during a ceremony in the East Room of the White House in Washington, Tuesday, Oct. 19, 2010. (AP Photo/Susan Walsh)