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obama | But what I hope is, is that everybody will take a look at what we are planning, consider the details of what we've laid out, and see the merits as I've described them. The bottom line is nobody is more committed to manned space flight, to human exploration of space than I am. But we've got to do it in a smart way, and we can't just keep on doing the same old things that we've been doing and thinking that somehow is going to get us to where we want to go. | speech |
obama | Finally, I want to say a few words about jobs. Suzanne pointed out to me that the last time I was here, I made a very clear promise that I would help in the transition into a new program to make sure that people who are already going through a tough time here in this region were helped. And despite some reports to the contrary, my plan will add more than 2,500 jobs along the Space Coast in the next two years compared to the plan under the previous administration. So I want to make that point. | speech |
obama | Now, little more than 40 years ago, astronauts descended the nine-rung ladder of the lunar module called Eagle, and allowed their feet to touch the dusty surface of the Earth's only Moon. This was the culmination of a daring and perilous gambit -- of an endeavor that pushed the boundaries of our knowledge, of our technological prowess, of our very capacity as human beings to solve problems. It wasn't just the greatest achievement in NASA's history -- it was one of the greatest achievements in human history. | speech |
obama | Now, here's the good news: A comprehensive plan to achieve these reforms has already passed the House of Representatives. A Senate version is currently being debated, drawing on ideas from Democrats and Republicans. Both bills represent significant improvement on the flawed rules that we have in place today, despite the furious effort of industry lobbyists to shape this legislation to their special interests. | speech |
obama | Third, this plan would enact the strongest consumer financial protections ever. And that's absolutely necessary because this financial crisis wasn't just the result of decisions made in the executive suites on Wall Street; it was also the result of decisions made around kitchen tables across America, by folks who took on mortgages and credit cards and auto loans. And while it's true that many Americans took on financial obligations that they knew or should have known they could not have afforded, millions of others were, frankly, duped. They were misled by deceptive terms and conditions, buried deep in the fine print. | speech |
obama | But this is why we need a system to shut these firms down with the least amount of collateral damage to innocent people and innocent businesses. And from the start, I've insisted that the financial industry, not taxpayers, shoulder the costs in the event that a large financial company should falter. The goal is to make certain that taxpayers are never again on the hook because a firm is deemed "too big to fail." | speech |
obama | So we've seen business as usual in Washington, but I believe we can and must put this kind of cynical politics aside. We've got to put an end to it. That's why I'm here today. That's why I'm here today. | speech |
obama | And while a few companies made out like bandits by exploiting their customers, our entire economy was made more vulnerable. Millions of people have now lost their homes. Tens of millions more have lost value in their homes. Just about every sector of our economy has felt the pain, whether you're paving driveways in Arizona, or selling houses in Ohio, or you're doing home repairs in California, or you're using your home equity to start a small business in Florida. | speech |
obama | It is wonderful to be back in Cooper Union, where generations of leaders and citizens have come to defend their ideas and contest their differences. It's also good to be back in Lower Manhattan, a few blocks from Wall Street. It really is good to be back, because Wall Street is the heart of our nation's financial sector. | speech |
obama | Now, first, the bill being considered in the Senate would create what we did not have before, and that is a way to protect the financial system and the broader economy and American taxpayers in the event that a large financial firm begins to fail. If there's a Lehmans or an AIG, how can we respond in a way that doesn't force taxpayers to pick up the tab or, alternatively, could bring down the whole system. | speech |
obama | It was that failure of responsibility that I spoke about when I came to New York more than two years ago -- before the worst of the crisis had unfolded. It was back in 2007. And I take no satisfaction in noting that my comments then have largely been borne out by the events that followed. But I repeat what I said then because it is essential that we learn the lessons from this crisis so we don't doom ourselves to repeat it. And make no mistake, that is exactly what will happen if we allow this moment to pass -- and that's an outcome that is unacceptable to me and it's unacceptable to you, the American people. | speech |
obama | Thank you so much. God bless you, and God bless the United States of America. Thank you. | speech |
obama | Now, one of the most significant contributors to this recession was a financial crisis as dire as any we've known in generations -- at least since the '30s. And that crisis was born of a failure of responsibility -- from Wall Street all the way to Washington -- that brought down many of the world's largest financial firms and nearly dragged our economy into a second Great Depression. | speech |
obama | And that's why these reforms are designed to respect legitimate activities but prevent reckless risk taking. That's why we want to ensure that financial products like standardized derivatives are traded out in the open, in the full view of businesses, investors, and those charged with oversight. | speech |
obama | That's why, when this crisis began, crucial decisions about what would happen to some of the world's biggest companies -- companies employing tens of thousands of people and holding hundreds of billions of dollars in assets -- had to take place in hurried discussions in the middle of the night. And that's why, to save the entire economy from an even worse catastrophe, we had to deploy taxpayer dollars. Now, much of that money has now been paid back and my administration has proposed a fee to be paid by large financial firms to recover all the money, every dime, because the American people should never have been put in that position in the first place. | speech |
obama | And for those of you in the financial sector I'm sure that some of these lobbyists work for you and they're doing what they are being paid to do. But I'm here today specifically -- when I speak to the titans of industry here -- because I want to urge you to join us, instead of fighting us in this effort. I'm here because I believe that these reforms are, in the end, not only in the best interest of our country, but in the best interest of the financial sector. And I'm here to explain what reform will look like, and why it matters. | speech |
obama | Number four, the last key component of reform. These Wall Street reforms will give shareholders new power in the financial system. They will get what we call a say on pay, a voice with respect to the salaries and bonuses awarded to top executives. And the SEC will have the authority to give shareholders more say in corporate elections, so that investors and pension holders have a stronger role in determining who manages the company in which they've placed their savings. | speech |
obama | In defense of freedom, we'll remain the anchor of strong alliances from the Americas to Africa; from Europe to Asia. In the Middle East, we will stand with citizens as they demand their universal rights, and support stable transitions to democracy. | speech |
obama | We know the process will be messy, and we cannot presume to dictate the course of change in countries like Egypt, but we can -- and will -- insist on respect for the fundamental rights of all people. We'll keep the pressure on a Syrian regime that has murdered its own people, and support opposition leaders that respect the rights of every Syrian. And we will stand steadfast with Israel in pursuit of security and a lasting peace. | speech |
obama | Every dollar we invest in high-quality early childhood education can save more than seven dollars later on -- by boosting graduation rates, reducing teen pregnancy, even reducing violent crime. In states that make it a priority to educate our youngest children, like Georgia or Oklahoma, studies show students grow up more likely to read and do math at grade level, graduate high school, hold a job, form more stable families of their own. We know this works. So let's do what works and make sure none of our children start the race of life already behind. Let's give our kids that chance. | speech |
obama | Through tax credits, grants and better loans, we've made college more affordable for millions of students and families over the last few years. But taxpayers can't keep on subsidizing higher and higher and higher costs for higher education. Colleges must do their part to keep costs down, and it's our job to make sure that they do. | speech |
obama | Stronger families. Stronger communities. A stronger America. It is this kind of prosperity -- broad, shared, built on a thriving middle class -- that has always been the source of our progress at home. It's also the foundation of our power and influence throughout the world. | speech |
obama | Tonight, thanks to the grit and determination of the American people, there is much progress to report. After a decade of grinding war, our brave men and women in uniform are coming home. After years of grueling recession, our businesses have created over six million new jobs. We buy more American cars than we have in five years, and less foreign oil than we have in 20. Our housing market is healing, our stock market is rebounding, and consumers, patients, and homeowners enjoy stronger protections than ever before. | speech |
obama | But now Congress must act as well, by passing legislation to give our government a greater capacity to secure our networks and deter attacks. This is something we should be able to get done on a bipartisan basis. | speech |
obama | Our actions will not prevent every senseless act of violence in this country. In fact, no laws, no initiatives, no administrative acts will perfectly solve all the challenges I've outlined tonight. But we were never sent here to be perfect. We were sent here to make what difference we can, to secure this nation, expand opportunity, uphold our ideals through the hard, often frustrating, but absolutely necessary work of self-government. | speech |
obama | Each of these proposals deserves a vote in Congress. Now, if you want to vote no, that's your choice. But these proposals deserve a vote. Because in the two months since Newtown, more than a thousand birthdays, graduations, anniversaries have been stolen from our lives by a bullet from a gun -- more than a thousand. | speech |
obama | In 2011, Congress passed a law saying that if both parties couldn't agree on a plan to reach our deficit goal, about a trillion dollars' worth of budget cuts would automatically go into effect this year. These sudden, harsh, arbitrary cuts would jeopardize our military readiness. They'd devastate priorities like education, and energy, and medical research. They would certainly slow our recovery, and cost us hundreds of thousands of jobs. That's why Democrats, Republicans, business leaders, and economists have already said that these cuts, known here in Washington as the sequester, are a really bad idea. | speech |
obama | Now, some in Congress have proposed preventing only the defense cuts by making even bigger cuts to things like education and job training, Medicare and Social Security benefits. That idea is even worse. | speech |
obama | Fifty-one years ago, John F. Kennedy declared to this chamber that "the Constitution makes us not rivals for power but partners for progress." "It is my task," he said, "to report the State of the Union -- to improve it is the task of us all." | speech |
obama | Now is our best chance for bipartisan, comprehensive tax reform that encourages job creation and helps bring down the deficit. We can get this done. The American people deserve a tax code that helps small businesses spend less time filling out complicated forms, and more time expanding and hiring -- a tax code that ensures billionaires with high-powered accountants can't work the system and pay a lower rate than their hardworking secretaries; a tax code that lowers incentives to move jobs overseas, and lowers tax rates for businesses and manufacturers that are creating jobs right here in the United States of America. That's what tax reform can deliver. That's what we can do together. | speech |
obama | But we can't ask senior citizens and working families to shoulder the entire burden of deficit reduction while asking nothing more from the wealthiest and the most powerful. We won't grow the middle class simply by shifting the cost of health care or college onto families that are already struggling, or by forcing communities to lay off more teachers and more cops and more firefighters. Most Americans -- Democrats, Republicans, and independents -- understand that we can't just cut our way to prosperity. They know that broad-based economic growth requires a balanced approach to deficit reduction, with spending cuts and revenue, and with everybody doing their fair share. And that's the approach I offer tonight. | speech |
obama | Now, even with better high schools, most young people will need some higher education. It's a simple fact the more education you've got, the more likely you are to have a good job and work your way into the middle class. But today, skyrocketing costs price too many young people out of a higher education, or saddle them with unsustainable debt. | speech |
obama | You see, America must remain a beacon to all who seek freedom during this period of historic change. I saw the power of hope last year in Rangoon, in Burma, when Aung San Suu Kyi welcomed an American President into the home where she had been imprisoned for years; when thousands of Burmese lined the streets, waving American flags, including a man who said, "There is justice and law in the United States. I want our country to be like that." | speech |
obama | Yes, the biggest driver of our long-term debt is the rising cost of health care for an aging population. And those of us who care deeply about programs like Medicare must embrace the need for modest reforms -- otherwise, our retirement programs will crowd out the investments we need for our children, and jeopardize the promise of a secure retirement for future generations. | speech |
obama | Thank you. God bless you, and God bless these United States of America. | speech |
obama | We will keep faith with our veterans, investing in world-class care, including mental health care, for our wounded warriors supporting our military families; giving our veterans the benefits and education and job opportunities that they have earned. And I want to thank my wife, Michelle, and Dr. Jill Biden for their continued dedication to serving our military families as well as they have served us. Thank you, honey. Thank you, Jill. | speech |
obama | Let's agree right here, right now to keep the people's government open, and pay our bills on time, and always uphold the full faith and credit of the United States of America. The American people have worked too hard, for too long, rebuilding from one crisis to see their elected officials cause another. | speech |
obama | In fact, much of our new-found energy is drawn from lands and waters that we, the public, own together. So tonight, I propose we use some of our oil and gas revenues to fund an Energy Security Trust that will drive new research and technology to shift our cars and trucks off oil for good. If a nonpartisan coalition of CEOs and retired generals and admirals can get behind this idea, then so can we. Let's take their advice and free our families and businesses from the painful spikes in gas prices we've put up with for far too long. | speech |
obama | Now, the good news is we can make meaningful progress on this issue while driving strong economic growth. I urge this Congress to get together, pursue a bipartisan, market-based solution to climate change, like the one John McCain and Joe Lieberman worked on together a few years ago. But if Congress won't act soon to protect future generations, I will. I will direct my Cabinet to come up with executive actions we can take, now and in the future, to reduce pollution, prepare our communities for the consequences of climate change, and speed the transition to more sustainable sources of energy. | speech |
obama | Let's also make sure that a high school diploma puts our kids on a path to a good job. Right now, countries like Germany focus on graduating their high school students with the equivalent of a technical degree from one of our community colleges. So those German kids, they're ready for a job when they graduate high school. They've been trained for the jobs that are there. Now at schools like P-Tech in Brooklyn, a collaboration between New York Public Schools and City University of New York and IBM, students will graduate with a high school diploma and an associate's degree in computers or engineering. | speech |
obama | Defending our freedom, though, is not just the job of our military alone. We must all do our part to make sure our God-given rights are protected here at home. That includes one of the most fundamental right of a democracy: the right to vote. When any American, no matter where they live or what their party, are denied that right because they can't afford to wait for five or six or seven hours just to cast their ballot, we are betraying our ideals. | speech |
obama | But we gather here knowing that there are millions of Americans whose hard work and dedication have not yet been rewarded. Our economy is adding jobs -- but too many people still can't find full-time employment. Corporate profits have skyrocketed to all-time highs -- but for more than a decade, wages and incomes have barely budged. | speech |
obama | We'll give new tax credits to businesses that hire and invest. And we'll work to strengthen families by removing the financial deterrents to marriage for low-income couples, and do more to encourage fatherhood -- because what makes you a man isn't the ability to conceive a child; it's having the courage to raise one. And we want to encourage that. We want to help that. | speech |
obama | Of course, our challenges don't end with al Qaeda. America will continue to lead the effort to prevent the spread of the world's most dangerous weapons. The regime in North Korea must know they will only achieve security and prosperity by meeting their international obligations. Provocations of the sort we saw last night will only further isolate them, as we stand by our allies, strengthen our own missile defense and lead the world in taking firm action in response to these threats. | speech |
obama | So tonight, I'm announcing a nonpartisan commission to improve the voting experience in America. And it definitely needs improvement. I'm asking two long-time experts in the field -- who, by the way, recently served as the top attorneys for my campaign and for Governor Romney's campaign -- to lead it. We can fix this, and we will. The American people demand it, and so does our democracy. | speech |
obama | So tonight, I ask Congress to change the Higher Education Act so that affordability and value are included in determining which colleges receive certain types of federal aid. And tomorrow, my administration will release a new "College Scorecard" that parents and students can use to compare schools based on a simple criteria -- where you can get the most bang for your educational buck. | speech |
obama | But even with mortgage rates near a 50-year low, too many families with solid credit who want to buy a home are being rejected. Too many families who never missed a payment and want to refinance are being told no. That's holding our entire economy back. We need to fix it. | speech |
obama | Now we need to finish the job. And the question is, how? | speech |
obama | Tonight, we stand united in saluting the troops and civilians who sacrifice every day to protect us. Because of them, we can say with confidence that America will complete its mission in Afghanistan and achieve our objective of defeating the core of al Qaeda. | speech |
obama | Tonight, let's declare that in the wealthiest nation on Earth, no one who works full-time should have to live in poverty, and raise the federal minimum wage to $9.00 an hour. We should be able to get that done. | speech |
obama | Tonight, let's also recognize that there are communities in this country where no matter how hard you work, it is virtually impossible to get ahead. Factory towns decimated from years of plants packing up. Inescapable pockets of poverty, urban and rural, where young adults are still fighting for their first job. America is not a place where the chance of birth or circumstance should decide our destiny. And that's why we need to build new ladders of opportunity into the middle class for all who are willing to climb them. | speech |
obama | I'm also issuing a new goal for America: Let's cut in half the energy wasted by our homes and businesses over the next 20 years. We'll work with the states to do it. Those states with the best ideas to create jobs and lower energy bills by constructing more efficient buildings will receive federal support to help make that happen. | speech |
obama | Our first priority is making America a magnet for new jobs and manufacturing. After shedding jobs for more than 10 years, our manufacturers have added about 500,000 jobs over the past three. Caterpillar is bringing jobs back from Japan. Ford is bringing jobs back from Mexico. And this year, Apple will start making Macs in America again. | speech |
obama | We should follow the example of a New York City nurse named Menchu Sanchez. When Hurricane Sandy plunged her hospital into darkness, she wasn't thinking about how her own home was faring. Her mind was on the 20 precious newborns in her care and the rescue plan she devised that kept them all safe. | speech |
obama | We have to tell Congress it's time to crack down on gun trafficking so that folks will think twice before buying a gun as part of a scheme to arm someone who won't pass a background check. Let's get that done. | speech |
obama | If there is even one thing we can do to protect our kids, don't we have an obligation to try? If there is even one step we can take to keep somebody from murdering dozens of innocents in the span of minutes, shouldn't we be taking that step? If there is just one thing we can do to keep one father from having to bury his child, isn't that worth fighting for? | speech |
obama | So Connecticut has shown the way. And now is the time for Congress to do the same. Now is the time for Congress to do the same. This week is the time for Congress to do the same. | speech |
obama | And when he said that, I thought about the mom I met from suburban Chicago whose son was killed in a random shooting. And this mom told me, I hate it when people tell me that my son was in the wrong place at the wrong time. He was on his way to school. He was exactly where he was supposed to be. He was in the right place at the right time, and he still got shot. | speech |
obama | Now, I know that some of these proposals inspire more debate than others, but each of them has the support of the majority of the American people. All of them are common sense. All of them deserve a vote. All of them deserve a vote. | speech |
obama | And if we do, if we come together and raise our voices together and demand this change together, I'm convinced cooperation and common sense will prevail. We will find sensible, intelligent ways to make this country stronger and safer for our children. | speech |
obama | I love you back. I do. | speech |
obama | And last week, here in Connecticut, your elected leaders responded. The Connecticut legislature, led by many of the legislators here today, passed new measures to protect more of our children and our communities from gun violence. And Governor Malloy signed that legislation into law. | speech |
obama | And if you believe that, I'm asking you to stand up. If you believe in the right to bears arms, like I do, but think we should prevent an irresponsible few from inflicting harm -- stand up. Stand up. | speech |
obama | I want to thank Governor Malloy for his leadership. Very proud of him. I want to thank the University of Hartford for hosting us this afternoon. Thank you, Hawks. And I want to thank the people of Connecticut for everything you've done to honor the memories of the victims because you're part of their family as well. | speech |
obama | So every family in this state was shaken by the tragedy of that morning. Every family in this country was shaken. We hugged our kids more tightly. We asked what could we do, as a society, to help prevent a tragedy like that from happening again. | speech |
obama | I've got stacks of letters from gun owners who want me to know that they care passionately about their right to bear arms, don't want them infringed upon, and I appreciate every one of those letters. I've learned from them. But a lot of those letters, what they've also said is they're not just gun owners; they're also parents or police officers or veterans, and they agree that we can't stand by and keep letting these tragedies happen; that with our rights come some responsibilities and obligations to our communities and ourselves, and most of all to our children. We can't just think about "us" -- we've got to think about "we, the people." | speech |
obama | So I want to be clear. You, the families of Newtown, people across Connecticut, you helped make that happen. Your voices, your determination made that happen. Obviously, the elected leaders did an extraordinary job moving it forward, but it couldn't have happened if they weren't hearing from people in their respective districts, people all across the state. That's the power of your voice. | speech |
obama | When I said in my State of the Union address that these proposals deserve a vote -- that families of Newtown, and Aurora, and Tucson, and a former member of Congress, Gabby Giffords, that they all deserved a vote -- virtually every member of that chamber stood up and applauded. And now they're going to start denying your families a vote when the cameras are off and when the lobbyists have worked what they do? You deserve better than that. You deserve a vote. | speech |
obama | So we know that background checks can work. But the problem is loopholes in the current law let so many people avoid background checks altogether. That's not safe. It doesn't make sense. If you're a law-abiding citizen and you go through a background check to buy a gun, wouldn't you expect other people to play by the same rules? | speech |
obama | And, by the way, Connecticut is not alone. In the past few months, New York, Colorado, Maryland have all passed new, common-sense gun safety reforms as well. | speech |
obama | And I'm asking everyone listening today, find out where your member of Congress stands on this. If they're not part of the 90 percent of Americans who agree on background checks, then ask them, why not? Why wouldn't you want to make it easier for law enforcement to do their job? Why wouldn't you want to make it harder for a dangerous person to get his or her hands on a gun? What's more important to you: our children, or an A-grade from the gun lobby? | speech |
obama | So if we're going to move forward, we can't just talk past one another. We've got to listen to one another. That's what Governor Malloy and all these legislative leaders did. That's why they were able to pass bipartisan legislation. | speech |
obama | As soon as this week, Congress will begin debating these common-sense proposals to reduce gun violence. Your senators, Dick Blumenthal and Chris Murphy -- they're here your Representatives, John Larson, Rosa DeLauro, Elizabeth Esty, Jim Hines, Joe Courtney, they are all pushing to pass this legislation. But much of Congress is going to only act if they hear from you, the American people. So here's what we have to do. | speech |
obama | Now, back in January, just a few months after the tragedy in Newtown, I announced a series of executive actions to reduce gun violence and keep our kids safe. And I put forward common-sense proposals -- much like those that passed here in Connecticut -- for Congress to consider. And you'll remember in my State of the Union address, I urged Congress to give those proposals a vote. And that moment is now. | speech |
obama | We can't forget. Your families still grieve in ways most of us can't comprehend. But so many of you have used that grief to make a difference -- not just to honor your own children, but to protect the lives of all of our children. So many of you have mobilized, and organized, and petitioned your elected officials "with love and logic," as Nicole put it -- as citizens determined to right something gone wrong. | speech |
obama | To Democrats, I would remind you that we still have the largest majority in decades and the people expect us to solve problems, not run for the hills. And if the Republican leadership is going to insist that 60 votes in the Senate are required to do any business at all in this town--a supermajority--then the responsibility to govern is now yours as well. Just saying no to everything may be good short-term politics, but it's not leadership. We were sent here to serve our citizens, not our ambitions. So let's show the American people that we can do it together. | speech |
obama | I'm also calling on Congress to continue down the path of earmark reform, Democrats and Republicans--Democrats and Republicans. Look, you've trimmed some of this spending, you've embraced some meaningful change, but restoring the public trust demands more. For example, some Members of Congress post some earmark requests online. Tonight I'm calling on Congress to publish all earmark requests on a single web site before there's a vote so that the American people can see how their money is being spent. | speech |
obama | Starting in 2011, we are prepared to freeze Government spending for 3 years. Spending related to our national security, Medicare, Medicaid, and Social Security will not be affected. But all other discretionary Government programs will. Like any cash-strapped family, we will work within a budget to invest in what we need and sacrifice what we don't. And if I have to enforce this discipline by veto, I will. | speech |
obama | Those of us in public office can respond to this reality by playing it safe and avoid telling hard truths and pointing fingers. We can do what's necessary to keep our poll numbers high and get through the next election, instead of doing what's best for the next generation. | speech |
obama | We should put more Americans to work building clean energy facilities and give rebates to Americans who make their homes more energy efficient, which supports clean energy jobs. And to encourage these and other businesses to stay within our borders, it is time to finally slash the tax breaks for companies that ship our jobs overseas and give those tax breaks to companies that create jobs right here in the United States of America. | speech |
obama | As we have for over 60 years, America takes these actions because our destiny is connected to those beyond our shores. But we also do it because it is right. That's why, as we meet here tonight, over 10,000 Americans are working with many nations to help the people of Haiti recover and rebuild. That's why we stand with the girl who yearns to go to school in Afghanistan, why we support the human rights of the women marching through the streets of Iran, why we advocate for the young man denied a job by corruption in Guinea. For America must always stand on the side of freedom and human dignity--always. | speech |
obama | After nearly a century of trying--Democratic administrations, Republican administrations--we are closer than ever to bringing more security to the lives of so many Americans. The approach we've taken would protect every American from the worst practices of the insurance industry. It would give small businesses and uninsured Americans a chance to choose an affordable health care plan in a competitive market. It would require every insurance plan to cover preventive care. | speech |
obama | We're going to crackdown on violations of equal pay laws so that women get equal pay for an equal day's work. And we should continue the work of fixing our broken immigration system, to secure our borders and enforce our laws and ensure that everyone who plays by the rules can contribute to our economy and enrich our Nation. | speech |
obama | Abroad, America's greatest source of strength has always been our ideals. The same is true at home. We find unity in our incredible diversity, drawing on the promise enshrined in our Constitution: The notion that we're all created equal; that no matter who you are or what you look like, if you abide by the law, you should be protected by it; if you adhere to our common values, you should be treated no different than anyone else. | speech |
obama | Third, we need to export more of our goods, because the more products we make and sell to other countries, the more jobs we support right here in America. So tonight we set a new goal: We will double our exports over the next 5 years, an increase that will support 2 million jobs in America. To help meet this goal, we're launching a National Export Initiative that will help farmers and small businesses increase their exports and reform export controls consistent with national security. | speech |
obama | At the beginning of the last decade, the year 2000, America had a budget surplus of over $200 billion. By the time I took office, we had a 1-year deficit of over $1 trillion and projected deficits of $8 trillion over the next decade. Most of this was the result of not paying for two wars, two tax cuts, and an expensive prescription drug program. On top of that, the effects of the recession put a $3 trillion hole in our budget. All this was before I walked in the door. | speech |
obama | So I supported the last administration's efforts to create the financial rescue program. And when we took that program over, we made it more transparent and more accountable. And as a result, the markets are now stabilized, and we've recovered most of the money we spent on the banks--most but not all. | speech |
obama | We must continually renew this promise. My administration has a Civil Rights Division that is once again prosecuting civil rights violations and employment discrimination. We finally strengthened our laws to protect against crimes driven by hate. This year, I will work with Congress and our military to finally repeal the law that denies gay Americans the right to serve the country they love because of who they are. It's the right thing to do. | speech |
obama | As a result, millions of Americans had more to spend on gas and food and other necessities, all of which helped businesses keep more workers. And we haven't raised income taxes by a single dime on a single person--not a single dime. | speech |
obama | To recover the rest, I've proposed a fee on the biggest banks. Now, I know Wall Street isn't keen on this idea. But if these firms can afford to hand out big bonuses again, they can afford a modest fee to pay back the taxpayers who rescued them in their time of need. | speech |
obama | I know there have been questions about whether we can afford such changes in a tough economy. I know that there are those who disagree with the overwhelming scientific evidence on climate change. But here's the thing: Even if you doubt the evidence, providing incentives for energy efficiency and clean energy are the right thing to do for our future, because the nation that leads the clean energy economy will be the nation that leads the global economy. And America must be that nation. | speech |
obama | Tonight all of our men and women in uniform, in Iraq, in Afghanistan, and around the world, they have to know that we--that they have our respect, our gratitude, our full support. And just as they must have the resources they need in war, we all have a responsibility to support them when they come home. That's why we made the largest increase in investments for veterans in decades last year. That's why we're building a 21st century VA. And that's why Michelle has joined with Jill Biden to forge a national commitment to support military families. | speech |
obama | Now, to do that, we have to recognize that we face more than a deficit of dollars right now. We face a deficit of trust, deep and corrosive doubts about how Washington works that have been growing for years. To close that credibility gap, we have to take action on both ends of Pennsylvania Avenue to end the outsized influence of lobbyists, to do our work openly, to give our people the Government they deserve. | speech |
obama | So we face big and difficult challenges. And what the American people hope, what they deserve, is for all of us, Democrats and Republicans, to work through our differences, to overcome the numbing weight of our politics. For while the people who sent us here have different backgrounds, different stories, different beliefs, the anxieties they face are the same. The aspirations they hold are shared: a job that pays the bills; a chance to get ahead; most of all, the ability to give their children a better life. | speech |
obama | But when I ran for President, I promised I wouldn't just do what was popular; I would do what was necessary. And if we had allowed the meltdown of the financial system, unemployment might be double what it is today. More businesses would certainly have closed. More homes would have surely been lost. | speech |
obama | And in Afghanistan, we're increasing our troops and training Afghan security forces so they can begin to take the lead in July of 2011 and our troops can begin to come home. We will reward good governance, work to reduce corruption, and support the rights of all Afghans, men and women alike. We're joined by allies and partners who have increased their own commitments and who will come together tomorrow in London to reaffirm our common purpose. There will be difficult days ahead, but I am absolutely confident we will succeed. | speech |
obama | But what frustrates the American people is a Washington where every day is Election Day. We can't wage a perpetual campaign where the only goal is to see who can get the most embarrassing headlines about the other side, a belief that if you lose, I win. Neither party should delay or obstruct every single bill just because they can. The confirmation of--I'm speaking to both parties now. The confirmation of well-qualified public servants shouldn't be held hostage to the pet projects or grudges of a few individual Senators. | speech |
obama | We will continue to go through the budget, line by line, page by page, to eliminate programs that we can't afford and don't work. We've already identified $20 billion in savings for next year. To help working families, we'll extend our middle class tax cuts. But at a time of record deficits, we will not continue tax cuts for oil companies, for investment fund managers, and for those making over $250,000 a year. We just can't afford it. | speech |
obama | Still, in this economy, a high school diploma no longer guarantees a good job. That's why I urge the Senate to follow the House and pass a bill that will revitalize our community colleges, which are a career pathway to the children of so many working families. | speech |
obama | With all due deference to separation of powers, last week, the Supreme Court reversed a century of law that I believe will open the floodgates for special interests, including foreign corporations, to spend without limit in our elections. I don't think American elections should be bankrolled by America's most powerful interests, or worse, by foreign entities. They should be decided by the American people. And I'd urge Democrats and Republicans to pass a bill that helps correct some of these problems. | speech |