Excerpts of the President's address to the Congress, with running commentary. The use of all caps is not meant to denote a loud voice or anger, it was just the easiest way to distinguish the commentary from the text of the speech.
Madame Speaker, Mr. Vice President, members of Congress, and the first lady of the United States:
I've come here tonight not only to address the distinguished men and women in this great chamber, but to speak frankly and directly to the men and women who sent us here…
But while our economy may be weakened and our confidence shaken, though we are living through difficult and uncertain times, tonight I want every American to know this:
We will rebuild, we will recover, and the United States of America will emerge stronger than before. STRONGER HOW, BY CUTTING DEFENSE SPENDING? BY ADOPTING THE CENTRAL COMMAND AND CONTROL ECONOMIC POLICIES THAT HAVE STRAIGHT-JACKETED WESTERN EUROPE FOR DECADES?
The weight of this crisis will not determine the destiny of this nation. The answers to our problems don't lie beyond our reach. They exist in our laboratories and universities, in our fields and our factories, in the imaginations of our entrepreneurs and the pride of the hardest-working people on Earth. Those qualities that have made America the greatest force of progress and prosperity in human history we still possess in ample measure. What is required now is for this country to pull together, confront boldly the challenges we face, and take responsibility for our future once more. NO, THE FUTURE WILL HAVE TO TAKE RESPONSIBILITY FOR US – BY PAYING OFF THE DEBTS WE ARE RUNNING UP, CREATING PROGRAMS THAT WE CANNOT PAY FOR IN OUR LIFETIMES…
The fact is, our economy did not fall into decline overnight. Nor did all of our problems begin when the housing market collapsed or the stock market sank. We have known for decades that our survival depends on finding new sources of energy. WHAT? Yet we import more oil today than ever before. NOT TRUE – SEE FACTCHECK.ORG AND IF IT WERE TRUE, WOULDN’T THAT SUGGEST WE DRILL FOR OIL HERE IN AMERICA? SOMETHING YOU JUST REVERSED COURSE ON FROM THE PREVIOUS ADMINISTRATION? The cost of health care eats up more and more of our savings each year, yet we keep delaying reform. BUSH PROPOSED MANY REFORMS, WHICH WERE STIFF-ARMED BY THE PARTISAN DEMOCRATS IN CONGRESS Our children will compete for jobs in a global economy that too many of our schools do not prepare them for. And though all these challenges went unsolved, we still managed to spend more money and pile up more debt, both as individuals and through our government, than ever before.
In other words, we have lived through an era where too often, short-term gains were prized over long-term prosperity, where we failed to look beyond the next payment, the next quarter, or the next election. A surplus became an excuse to transfer wealth to the wealthy TRANSFER OF WEALTH TO THE WEALTHY? WHERE DID THE WEALTH COME FROM? HE TALKS AS IF THE GOVERNMENT MAKES ALL THIS MONEY, AND GOVERNMENT THEN DOLES IT OUT. ECONOMIC EQUALITY IS SIMPLY A MATTER OF CHANGING THE ALLOTMENTS GOVERNMENT MAKES TO VARIOUS GROUPS. THIS IS A CLEAR EXAMPLE OF PRES OBAMA’S MARXIST WORLDVIEW instead of an opportunity to invest in our future. Regulations were gutted for the sake of a quick profit at the expense of a healthy market. COULD YOU TELL US WHAT YOU ARE TALKING ABOUT? MUST YOU ALWAYS SPEAK IN GENERALITIES? THIS CRISIS OCCURRED UNDER A CRUSHING REGIME OF GOVERNMENT REGULATION. THE PROBLEM IS NOT THAT THERE WAS TOO LITTLE REGULATION, BUT THAT SUCH REGULATION IS INHERENTLY INEFFECTIVE. People bought homes they knew they couldn't afford from banks and lenders who pushed those bad loans anyway. WHY DID THE BANKERS DO THAT? WHO WAS PRESSURING THEM TO MAKE THE LOANS? WHO WAS TAKING THEM OFF THE HOOK FOR THE RISK OF MAKING BAD LOANS? And all the while, critical debates and difficult decisions were put off for some other time on some other day. LIKE, FOR EXAMPLE, SOCIAL SECURITY REFORM, WHICH THE DEMOCRATS PREFERRED TO DEMAGOGUE TO GAIN SENIOR VOTES RATHER THAN WORK WITH PRESIDENT BUSH TO TACKLE THE PROBLEM?
Well that day of reckoning has arrived, and the time to take charge of our future is here.
Now is the time to act boldly and wisely — to not only revive this economy, but to build a new foundation for lasting prosperity. Now is the time to jump-start job creation, restart lending, and invest in areas like energy, health care and education that will grow our economy, even as we make hard choices to bring our deficit down. That is what my economic agenda is designed to do, and that's what I'd like to talk to you about tonight. TOO BAD THAT DOESN’T DESCRIBE WHAT THE STIMULUS DOES. THE STIMULUS CREATES NEW PERMANENT ENTITLEMENT PROGRAMS WHICH WILL STRAP OUR FEDERAL , STATE, AND LOCAL GOVERNMENTS WITH OBLIGATIONS THEY CAN’T AFFORD, LONG AFTER THIS ECONOMIC CRISIS IS OVER.
It's an agenda that begins with jobs.
As soon as I took office, I asked this Congress to send me a recovery plan by President's Day that would put people back to work and put money in their pockets. Not because I believe in bigger government — I don't. I’M LEFT SPEACHLESS BY THAT ONE! Not because I'm not mindful of the massive debt we've inherited — I am. “AND I AM SO WORRIED ABOUT THAT DEFICIT THAT I DECIDED TO TRIPLE IT IN 30 DAYS!” I called for action because the failure to do so would have cost more jobs and caused more hardships. In fact, a failure to act would have worsened our long-term deficit by assuring weak economic growth for years. That's why I pushed for quick action. “SO QUICK NO ONE EVEN HAD TIME TO READ IT” And tonight, I am grateful that this Congress delivered, and pleased to say that the American Recovery and Reinvestment Act is now law.
Over the next two years, this plan will save or create 3.5 million jobs. More than 90 percent of these jobs will be in the private sector — jobs rebuilding our roads and bridges, constructing wind turbines and solar panels, laying broadband and expanding mass transit. AGAIN, WOULD THAT THESE INFRASTRUCTURE PROJECTS REPRESENTED ANY MEANINGFUL PERCENTAGE OF WHAT IS BEING SPENT, AND WOULD THAT THEY COULD BE IMPLEMENTED QUICKLY ENOUGH TO IMPACT THIS CURRENT DOWNTURN.
Because of this plan, there are teachers who can now keep their jobs and educate our kids. Health care professionals can continue caring for our sick. There are 57 police officers who are still on the streets of Minneapolis tonight because this plan prevented the layoffs their department was about to make.
Because of this plan, 95 percent of the working households in America will receive a tax cut — a tax cut that you will see in your paychecks beginning on April 1. THIS USE OF THE WORDS TAX CUT IS PHONY. THE CONGRESSIONAL BUDGET OFFICE CALLS THEM DIRECT SPENDING – SEE FACTCHECK.ORG
Because of this plan, families who are struggling to pay tuition costs will receive a $2,500 tax credit for all four years of college. And Americans who have lost their jobs in this recession will be able to receive extended unemployment benefits and continued health care coverage to help them weather this storm.
I know there are some in this chamber and watching at home who are skeptical of whether this plan will work. I understand that skepticism. Here in Washington, we've all seen how quickly good intentions can turn into broken promises and wasteful spending. And with a plan of this scale comes enormous responsibility to get it right. AT THIS SCALE IT IS IMPOSSIBLE TO GET IT RIGHT, EVEN IF WE WEREN’T RELYING UPON A BUNCH OF GOVERNMENT BUREAUCRATS
That is why I have asked Vice President Biden to lead a tough, unprecedented oversight effort — because nobody messes with Joe. WELL AT LEAST THE PRESIDENT HAS A SENSE OF HUMOR! I have told each member of my Cabinet as well as mayors and governors across the country that they will be held accountable by me and the American people for every dollar they spend. WHAT ARROGANCE. THE FEDERAL GOVERNMENT SIEZES OUR MONEY, THEN DOLES IT BACK OUT TO OUR STATES AND CITIES WITH STRINGS ATTACHED. THE FEDS OF COURSE KNOW BETTER THAN OUR GOVERNORS AND OUR MAYORS WHAT NEEDS TO BE DONE WITH OUR MONEY IN OUR STATES AND CITIES. AND THE FEDERAL GOVERNMENT IS GOING TO ENFORCE WISE AND CAREFUL SPENDING, HA HA HA! I have appointed a proven and aggressive inspector general to ferret out any and all cases of waste and fraud. And we have created a new Web site called
recovery.gov so that every American can find out how and where their money is being spent. “BUT NOT UNTIL WE HAVE PASSED ALL THE SPENDING BILLS AND IT’S TOO LATE TO STOP US!” THAT IS WHY NANCY PELOSI WILL NOT PUT THE UPCOMING BUDGET DOCUMENTS ON THE WEB FOR THE CITIZENS TO INSPECT…
That is why this administration is moving swiftly and aggressively to break this destructive cycle, restore confidence and restart lending.
We will do so in several ways. First, we are creating a new lending fund that represents the largest effort ever to help provide auto loans, college loans and small business loans to the consumers and entrepreneurs who keep this economy running.
Second, we have launched a housing plan that will help responsible families facing the threat of foreclosure lower their monthly payments and refinance their mortgages. It's a plan that won't help speculators or that neighbor down the street who bought a house he could never hope to afford, but it will help millions of Americans who are struggling with declining home values HE HAS NO BASIS TO MAKE THIS CLAIM – SEE FACTCHECK.ORG — Americans who will now be able to take advantage of the lower interest rates that this plan has already helped bring about. In fact, the average family who refinances today can save nearly $2000 per year on their mortgage.
Third, we will act with the full force of the federal government to ensure that the major banks that Americans depend on have enough confidence and enough money to lend even in more difficult times. And when we learn that a major bank has serious problems, we will hold accountable those responsible, force the necessary adjustments, provide the support to clean up their balance sheets, and assure the continuity of a strong, viable institution that can serve our people and our economy.
I understand that on any given day, Wall Street may be more comforted by an approach that gives banks bailouts with no strings attached and that holds nobody accountable for their reckless decisions. “BUT THAT’S BEST LEFT TO GOVERNMENT. WE ARE USED TO NOT BEING ACCOUNTABLE FOR OUR RECKLESS DECISIONS!” But such an approach won't solve the problem. And our goal is to quicken the day when we restart lending to the American people and American business and end this crisis once and for all.
I intend to hold these banks fully accountable for the assistance they receive, and this time they will have to clearly demonstrate how taxpayer dollars result in more lending for the American taxpayer. This time, CEOs won't be able to use taxpayer money to pad their paychecks or buy fancy drapes or disappear on a private jet. Those days are over. “I HAVE TOLD JOE BIDEN AND TIM GEITHNER TO BEGIN IMMEDIATELY INSPECTING THE DRAPES OF EACH AND EVERY BANK OFFICER AND DIRECTOR IN THIS NATION!”
Still, this plan will require significant resources from the federal government — and yes, probably more than we've already set aside. But while the cost of action will be great, I can assure you that the cost of inaction will be far greater, for it could result in an economy that sputters along for not months or years, but perhaps a decade. HOW WILL WE EVER KNOW? MANY THINK THAT ALL OF THE FRENETIC GOVERNMENT SPENDING AND “ACTION” IN THE 1930’S GREATLY PROLONGED THE DEPRESSION That would be worse for our deficit, worse for business, worse for you and worse for the next generation. And I refuse to let that happen.
I understand that when the last administration asked this Congress to provide assistance for struggling banks, Democrats and Republicans alike were infuriated by the mismanagement and results that followed. So were the American taxpayers. So was I. “I ASSURE YOU THERE WILL BE NO WASTE, FRAUD OR MISMANAGEMENT IN THE $800B STIMULUS PLAN – THE ONE WE DESIGNED IN TWO WEEKS AND PASSED WITHOUT READING - YOU HAVE MY WORD ON IT!”
So I know how unpopular it is to be seen as helping banks right now, especially when everyone is suffering in part from their bad decisions. I promise you — I get it.
But I also know that in a time of crisis, we cannot afford to govern out of anger or yield to the politics of the moment. My job — our job — is to solve the problem. Our job is to govern with a sense of responsibility. I will not spend a single penny for the purpose of rewarding a single Wall Street executive, “BY THE TIME MY ADMINISTRATION IS FINISHED, NO COMPETENT EXECUTIVE WILL WANT TO GET ANYWHERE NEAR THE BANKS WE HAVE ASSISTED. THE EXECUTIVES WHO TAKE THEIR PLACE MAY BE INCOMPETENT, BUT I ASSURE YOU THEY WILL NOT BE OVERPAID! “ but I will do whatever it takes to help the small business that can't pay its workers or the family that has saved and still can't get a mortgage.
That's what this is about. It's not about helping banks — it's about helping people. Because when credit is available again, that young family can finally buy a new home. And then some company will hire workers to build it. And then those workers will have money to spend, and if they can get a loan too, maybe they'll finally buy that car or open their own business. Investors will return to the market, and American families will see their retirement secured once more. OH THAT’S HOW IT WORKS? I THOUGHT THE YOUNG FAMILY WENT TO A TOWN HALL MEETING AND PLEADED WITH THE PRESIDENT, WHOSE ASSISTANT TOOK A NOTE, AND SHORTLY THEREAFTER THE TREASURY DEPARTMENT ORDERED A GOVERNMENT OWNED BANK TO LEND MONEY TO THE YOUNG COUPLE WHO THEN WENT TO THE DEPARTMENT OF HOUSING OF AND URBAN DEVELOPMENT TO BUILD IT FOR THEM. Slowly but surely, confidence will return, and our economy will recover.
So I ask this Congress to join me in doing whatever proves necessary. Because we cannot consign our nation to an open-ended recession. And to ensure that a crisis of this magnitude never happens again, I ask Congress to move quickly on legislation that will finally reform our outdated regulatory system. It is time to put in place tough, new commonsense rules of the road so that our financial market rewards drive and innovation, and punishes shortcuts and abuse.
The recovery plan and the financial stability plan are the immediate steps we're taking to revive our economy in the short-term. But the only way to fully restore America's economic strength is to make the long-term investments that will lead to new jobs, new industries, and a renewed ability to compete with the rest of the world. “AND WHO BETTER UNDERSTANDS THE NEEDS OF THE MARKETPLACE AND HOW TO INVEST YOUR MONEY THAN THE FEDERAL GOVERNMENT? LOOK HOW WELL WE HAVE INVESTED YOUR SOCIAL SECURITY CONTRIBUTIONS OVER THE YEARS!” The only way this century will be another American century is if we confront at last the price of our dependence on oil “BY ENCOURAGING OFFSHORE DRILLING AND DEVELOPING CLEAN SAFE NUCLEAR POWER “and the high cost of health care, the schools that aren't preparing our children EVEN THOUGH WE SPEND MORE PER CHILD THAN THE VAST MAJORITY OF THE NATION OF THE WORLD and the mountain of debt they stand to inherit. BY SPENDING AT AN EVER FASTER RATE! That is our responsibility.
In the next few days, I will submit a budget to Congress. So often, we have come to view these documents as simply numbers on a page or laundry lists of programs. I see this document differently. I see it as a vision for America — as a blueprint for our future.
My budget does not attempt to solve every problem or address every issue “JUST THE FINANCIAL SECTOR THE HEALTH CARE SECTOR THE ENERGY SECTOR AND GLOBAL WARM… I MEAN CLIMATE CHANGE.” It reflects the stark reality of what we've inherited — a trillion dollar deficit, A TRILLION? AS WE ALL NOW KNOW, A TRILLION’S NOTHING! WE WON’T STOP SPENDING TILL IT GETS TO A GOZILLION! a financial crisis and a costly recession.
Given these realities, everyone in this chamber — Democrats and Republicans — will have to sacrifice some worthy priorities for which there are no dollars. CAN YOU GIVE ME AN EXAMPLE? I KNOW, LET’S NOT TURN ON THE POWER TO THE WHITE HOUSE CHRISTMAS TREE THIS YEAR! And that includes me.
But that does not mean we can afford to ignore our long-term challenges. I reject the view that says our problems will simply take care of themselves, that says government has no role in laying the foundation for our common prosperity. I LOVE THIS DEVICE HE USES – NAME ME ONE PERSON THAT SAYS GOVERNMENT HAS NO ROLE? IF YOU DON’T SHARE THE PRESIDENT’S STATIST PROCLIVITIES THEN YOU MUST BE FOR NO GOVERNMENT AT ALL.
For history tells a different story. History reminds us that at every moment of economic upheaval and transformation, this nation has responded with bold action and big ideas. In the midst of civil war, we laid railroad tracks from one coast to another that spurred commerce and industry. WELL NOT REALLY – SEE FACTCHECK.ORG From the turmoil of the industrial revolution came a system of public high schools that prepared our citizens for a new age. “AND THEY HAVEN’T CHANGED SINCE. AND THEY WON’T CHANGE UNDER MY ADMINISTRATION AS LONG AS THE NEA KEEPS FORKING OVER THE DOUGH” In the wake of war and depression, the GI Bill sent a generation to college and created the largest middle-class in history. And a twilight struggle for freedom led to a nation of highways, an American on the moon and an explosion of technology that still shapes our world.
In each case, government didn't supplant private enterprise, it catalyzed private enterprise. It created the conditions for thousands of entrepreneurs and new businesses to adapt and to thrive. WHAT PERCENTAGE OF OUR GDP DID THOSE GOVERNMENT PROGRAMS REPRESENT?
We are a nation that has seen promise amid peril and claimed opportunity from ordeal. Now we must be that nation again. That is why, even as it cuts back on the programs we don't need, LIKE WHAT? the budget I submit will invest in the three areas that are absolutely critical to our economic future: energy, health care and education.
It begins with energy.
We know the country that harnesses the power of clean, renewable energy will lead the 21st century. And yet, it is China that has launched the largest effort in history to make their economy energy efficient. THEY ARE BUILDING COAL FIRED PLANTS BY THE HUNDREDS We invented solar technology, but we've fallen behind countries like Germany and Japan in producing it. New plug-in hybrids roll off our assembly lines, but they will run on batteries made in Korea. OVERREACH - SEE FACTCHECK.ORG
Well I do not accept a future where the jobs and industries of tomorrow take root beyond our borders — and I know you don't either. It is time for America to lead again. WE NEVER STOPPED LEADING –STOP TALKING US DOWN – OUR ECONOMY IS THE ENVY OF THE WORLD, EVEN NOW
Thanks to our recovery plan, we will double this nation's supply of renewable energy in the next three years. We have also made the largest investment in basic research funding in American history — an investment that will spur not only new discoveries in energy, but breakthroughs in medicine, science and technology.
We will soon lay down thousands of miles of power lines that can carry new energy to cities and towns across this country. CAN’T WAIT TO SEE THE ENVIRONMENTAL IMPACT STATEMENTS ON THOSE PROJECTS And we will put Americans to work making our homes and buildings more efficient so that we can save billions of dollars on our energy bills.
But to truly transform our economy, protect our security and save our planet from the ravages of climate change,THE RAVAGES OF CLIMATE CHANGE? WHAT RAVAGES? we need to ultimately make clean, renewable energy the profitable kind of energy. So I ask this Congress to send me legislation that places a market-based cap on carbon pollution and drives the production of more renewable energy in America. JUST WHAT AN ECONOMY IN A DEEP RECESSION NEEDS – A MASSIVE TAX ON ENERGY! And to support that innovation, we will invest fifteen billion dollars a year to develop technologies like wind power and solar power, advanced biofuels, clean coal OH YOU ARE FOR COAL THIS WEEK? and more fuel-efficient cars and trucks built right here in America.
As for our auto industry, everyone recognizes that years of bad decision-making I GUESS THE UNIONS DIDN’T HAVE ANYTHING TO DO WITH IT! and a global recession have pushed our automakers to the brink. We should not, and will not, protect them from their own bad practices. But we are committed to the goal of a retooled, re-imagined auto industry that can compete and win. Millions of jobs depend on it. Scores of communities depend on it. And I believe the nation that invented the automobile WELL, NOT REALLY – SEE FACTCHECK.ORG cannot walk away from it.
None of this will come without cost, nor will it be easy. But this is America. We don't do what's easy. We do what is necessary to move this country forward.
For that same reason, we must also address the crushing cost of health care. CRUSHING?
This is a cost that now causes a bankruptcy in America every thirty seconds. WELL NOT REALLY – THAT WOULD REQUIRE THAT EVERY SINGLE BANKRUPTCY IN THE US WERE ATTRIBUTABLE TO HEALTHCARE COSTS – SEE FACTCHECK.ORG By the end of the year, it could cause 1.5 million Americans to lose their homes. In the last eight years, premiums have grown four times faster than wages. PREMIUMS HAVE BEEN CONTROLLED BY GOVERNMENT, WHICH DOES NOT ALLOW A FREE, NATIONAL MARKET FOR HEALTH INSURANCE TO EXIST And in each of these years, one million more Americans have lost their health insurance. It is one of the major reasons why small businesses close their doors and corporations ship jobs overseas. BUSINESS SHOULD NOT BE IN CHARGE OF PROVIDING HEALTH CARE – THAT IS THE VESTIGE OF A WWII GOVERNMENT POLICY THAT THE DEMOCRATS HAVE RESISTED CHANGING And it's one of the largest and fastest-growing parts of our budget. BECAUSE WE HAVE REFUSED TO INCLUDE MARKET-BASED REFORMS IN OUR GOVERNMENT PROGRAMS
Given these facts, we can no longer afford to put health care reform on hold NEVER LET A CRISIS GO TO WASTE…
This budget builds on these reforms. It includes an historic commitment to comprehensive health care reform — COMPREHENSIVE REFORM OR COMPREHENSIVE COVERAGE? I DON’T SEE ANY REFORM – JUST THE GOVERNMENT EXPANDING ITS INEFFICIENT SYSTEM TO MORE AND MORE AMERICANS UNTIL IT’S THE ONLY GAME IN TOWN a down-payment on the principle that we must have quality, affordable health care for every American. It's a commitment that's paid for in part by efficiencies in our system that are long overdue. WHAT A JOKE – ELECTRONIC HEALTH RECORDS ARE GOING TO MAKE A MEANINGFUL DENT IN THE HEALTHCARE BUDGET? I’LL BE HAPPY IF THEY MANAGE TO PAY FOR THEMSELVES IN MY LIFETIME And it's a step we must take if we hope to bring down our deficit in the years to come.
Now, there will be many different opinions and ideas about how to achieve reform, and that is why I'm bringing together businesses and workers, doctors and health care providers, Democrats and Republicans to begin work on this issue next week. LET ME GUESS, ANOTHER COMMISSION? THOSE WORK REALLY WELL…
Right now, three-quarters of the fastest-growing occupations require more than a high school diploma. And yet, just over half of our citizens have that level of education. We have one of the highest high school dropout rates of any industrialized nation. And half of the students who begin college never finish. “THAT IS WHY I AM PROPOSING TO KEEP SHOVELING MORE AND MORE MONEY TO THE TEACHERS UNIONS TO KEEP UP THE GOOD WORK”
This is a prescription for economic decline, because we know the countries that out-teach us today will out-compete us tomorrow. That is why it will be the goal of this administration to ensure that every child has access to a complete and competitive education — from the day they are born to the day they begin a career. WHY DOESN’T THE GOVERNMENT START EDUCATING THEM IN THE WOMB?...
But we know that our schools don't just need more resources. They need more reform. That is why this budget creates new incentives for teacher performance; pathways for advancement, and rewards for success. “AND WHY WE HAVE SURREPTICIOUSLY REMOVED ALL FUNDING FOR INNOVATIVE SCHOOL CHOICE INITIATIVES IN THE DISTRICT OF COLOMBIA” We’ll invest in innovative programs that are already helping schools meet high standards and close achievement gaps. And we will expand our commitment to charter schools.
It is our responsibility as lawmakers and educators to make this system work. But it is the responsibility of every citizen to participate in it. And so tonight, I ask every American to commit to at least one year or more of higher education or career training. This can be community college or a four-year school, vocational training or an apprenticeship. But whatever the training may be, every American will need to get more than a high school diploma. And dropping out of high school is no longer an option. It's not just quitting on yourself, it's quitting on your country — and this country needs and values the talents of every American. That is why we will provide the support necessary for you to complete college and meet a new goal: by 2020, America will once again have the highest proportion of college graduates in the world. AND THAT’S GOOD BECAUSE ____?...
I'm proud that we passed the recovery plan free of earmarks, HA HA HA! and I want to pass a budget next year that ensures that each dollar we spend reflects only our most important national priorities…
In order to save our children from a future of debt, we will also end the tax breaks for the wealthiest 2 percent of Americans. “THESE DEADBEATS ARE PAYING ONLY 50% OF ALL OF THE INCOME TAXES COLLECTED – CLEARLY THEY ARE UNDERTAXED! WHY SHOULDN’T THEY PAY 100%?” But let me perfectly clear, because I know you'll hear the same old claims that rolling back these tax breaks means a massive tax increase on the American people: If your family earns less than $250,000 a year, you will not see your taxes increased a single dime. I repeat — not one single dime. In fact, the recovery plan provides a tax cut — that's right, a tax cut — for 95 percent of working families. “WHICH IS REALLY HARD TO DO – I AM THE FIRST GUY EVER TO PULL THIS OFF – SINCE NOWHERE NEAR 95% OF AMERICANS PAY INCOME TAXES!” And these checks are on the way.
To preserve our long-term fiscal health, we must also address the growing costs in Medicare and Social Security. Comprehensive health care reform is the best way to strengthen Medicare for years to come. And we must also begin a conversation on how to do the same for Social Security while creating tax-free universal savings accounts for all Americans. BEGIN? WHERE WERE YOU IN 2005? …
We are now carefully reviewing our policies in both wars, and I will soon announce a way forward in Iraq that leaves Iraq to its people and responsibly ends this war. “IT’S JUST TOO EXPENSIVE, AND YOU KNOW HOW I FEEL ABOUT DEFICIT SPENDING!”
And with our friends and allies, “WHO ARE REALLY PULLING THEIR WEIGHT IN AFGHANISTAN, A WAR THEY ALL SUPPORTED.” we will forge a new and comprehensive strategy for Afghanistan and Pakistan to defeat al-Qaida and combat extremism. Because I will not allow terrorists to plot against the American people from safe havens half a world away. “I PREFER THEY DO THAT FROM FEDERAL PRISONS IN THE UNITED STATES AFTER I TRANSFER THEM FROM GITMO”…
To seek progress toward a secure and lasting peace between Israel and her neighbors, we have appointed an envoy to sustain our effort. GREAT NEW APPROACH! To meet the challenges of the 21st century — from terrorism to nuclear proliferation, from pandemic disease to cyber threats to crushing poverty — we will strengthen old alliances, forge new ones and use all elements of our national power.
And to respond to an economic crisis that is global in scope, we are working with the nations of the G-20 to restore confidence in our financial system, avoid the possibility of escalating protectionism BY INCLUDING A BUY AMERICA CLAUSE IN OUR STIMULULS BILL and spur demand for American goods in markets across the globe LIKE COLUMBIA. For the world depends on us to have a strong economy, just as our economy depends on the strength of the world's.
As we stand at this crossroads of history, the eyes of all people in all nations are once again upon us — watching to see what we do with this moment, waiting for us to lead. THAT SOUNDS ARROGANT TO ME – WE’RE JUST ANOTHER MEMBER OF THE UN…
Thank you, God bless you, and may God bless the United States of America.
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