The announcement comes a day before Obama attends the Democratic National Committee's annual gay and lesbian fundraiser in New York.
It's all about the money. Almost every time Obama announces something like this, it is right before a fundraiser. Yet it is also something that he never tried to get passed through congress. I'm pretty sure this would have passed congress, but Obama doesn't want to share the credit with anyone.
And yes, he panders to his base, while the country continues its downhill spiral.