STEPHANOPOULOS: How about the funding for ACORN?

OBAMA: You know, if — frankly, it’s not really something I’ve followed closely. I didn’t even know that ACORN was getting a whole lot of federal money.

STEPHANOPOULOS: Both the Senate and the House have voted to cut it off.

OBAMA: You know, what I know is, is that what I saw on that video was certainly inappropriate and deserves to be investigated.

STEPHANOPOULOS: So you’re not committing to — to cut off the federal funding?

OBAMA: George, this is not the biggest issue facing the country. It’s not something I’m paying a lot of attention to.

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“Independent prosecutors should not be appointed lightly. But in this case, there are good reasons why Atty. Gen. Eric Holder and other political appointees in the Justice Department should step aside. First, although no allegations have yet touched the Obama campaign, ACORN did have significant ties to the campaign and other progressive causes. Published reports show that ACORN and its subsidiaries received some $800,000 from the Obama campaign to get out the vote. Second, ACORN is intimately tied to the Service Employees International Union, one of President Barack Obama’s most powerful and vocal supporters…

What we have seen on tape cries out for a serious, independent investigation to determine if ACORN and its affiliates are a criminal enterprise, whether they have spent federal grants lawfully, whether they helped taxpayers file fraudulent returns, and whether they violated laws prohibiting tax-exempt organizations from engaging in partisan politics. These are big questions, and the public needs to know that Washington’s answers are fair and impartial.”

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“Now that the White House supports an investigation, Congress should make sure to investigate:

1) How Team Obama hid its $800,000 campaign payment to ACORN through front group ‘Citizen Services, Inc.’;

2) How Team Obama shared donor lists with the president’s old employer, ACORN affiliate Project Vote, a 501(c)(3) organization, which is prohibited from engaging in political activity (Mr. President, meet Anita MonCrief);

3) And how Project Vote and hundreds of myriad entities intermingled non-profit, tax-exempt funding with the national ACORN flagship’s political operations — a buried story Obama would know about if he read NYTimes reporter Stephanie Strom’s report last October before she was muzzled as Election Day drew near.”