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| TIME | SPEAKER | TEXT |
|---|---|---|
| 00:05:24 |
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Madam Speaker, Vice President Biden, members of Congress, distinguished guests, and fellow Americans: |
| 00:05:35 |
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Our Constitution declares that from time to time, the President shall give to Congress information... |
| 00:06:05 |
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It's tempting to look back on these moments and assume that our progress was inevitable -– that America... |
| 00:07:00 |
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Again, we are tested. And again, we must answer history's call. |
| 00:07:08 |
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One year ago, I took office amid two wars, an economy rocked by a severe recession, a financial system... |
| 00:07:42 |
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But the devastation remains. One in 10 Americans still cannot find work. Many businesses have shuttered.... |
| 00:08:06 |
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This recession has also compounded the burdens that America's families have been dealing with for... |
| 00:08:25 |
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So I know the anxieties that are out there right now. They're not new. These struggles are the reason... |
| 00:09:00 |
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For these Americans and so many others, change has not come fast enough. Some are frustrated; some... |
| 00:09:36 |
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So we face big and difficult challenges. And what the American people hope -– what they deserve -–... |
| 00:10:19 |
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You know what else they share? They share a stubborn resilience in the face of adversity. After... |
| 00:10:53 |
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It's because of this spirit -– this great decency and great strength -– that I have never been more... |
| 00:11:57 |
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And tonight, tonight I'd like to talk about how together we can deliver on that promise. |
| 00:12:04 |
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It begins with our economy. |
| 00:12:06 |
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Our most urgent task upon taking office was to shore up the same banks that helped cause this crisis.... |
| 00:12:45 |
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But when I ran for President, I promised I wouldn't just do what was popular -– I would do what was... |
| 00:13:13 |
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So I supported the last administration's efforts to create the financial rescue program. And when... |
| 00:13:49 |
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To recover the rest, I've proposed a fee on the biggest banks. (Applause.) Now, I know Wall Street... |
| 00:14:30 |
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Now, as we stabilized the financial system, we also took steps to get our economy growing again, save... |
| 00:14:45 |
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That's why we extended or increased unemployment benefits for more than 18 million Americans; made... |
| 00:14:59 |
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Now, let me repeat: We cut taxes. We cut taxes for 95 percent of working families. (Applause.)... |
| 00:15:31 |
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I thought I'd get some applause on that one. (Laughter and applause.) |
| 00:15:52 |
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As a result, millions of Americans had more to spend on gas and food and other necessities, all of... |
| 00:16:19 |
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Because of the steps we took, there are about two million Americans working right now who would otherwise... |
| 00:16:58 |
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The plan that has made all of this possible, from the tax cuts to the jobs, is the Recovery Act. ... |
| 00:18:03 |
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There are stories like this all across America. And after two years of recession, the economy is... |
| 00:18:25 |
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But I realize that for every success story, there are other stories, of men and women who wake up... |
| 00:19:14 |
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Now, the true engine of job creation in this country will always be America's businesses. (Applause.)... |
| 00:19:44 |
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We should start where most new jobs do –- in small businesses, companies that begin when -- (applause)... |
| 00:20:31 |
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So tonight, I'm proposing that we take $30 billion of the money Wall Street banks have repaid and... |
| 00:21:04 |
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-– one that will go to over one million small businesses who hire new workers or raise wages. (Applause.)... |
| 00:21:39 |
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Next, we can put Americans to work today building the infrastructure of tomorrow. (Applause.) From... |
| 00:22:10 |
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Tomorrow, I'll visit Tampa, Florida, where workers will soon break ground on a new high-speed railroad... |
| 00:22:36 |
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We should put more Americans to work building clean energy facilities -- (applause) -- and give rebates... |
| 00:23:17 |
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Now, the House has passed a jobs bill that includes some of these steps. (Applause.) As the first... |
| 00:24:00 |
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But the truth is, these steps won't make up for the seven million jobs that we've lost over the last... |
| 00:24:24 |
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We can't afford another so-called economic "expansion" like the one from the last decade –- what some... |
| 00:24:55 |
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From the day I took office, I've been told that addressing our larger challenges is too ambitious;... |
| 00:25:10 |
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For those who make these claims, I have one simple question: How long should we wait? How long should... |
| 00:25:26 |
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You see, Washington has been telling us to wait for decades, even as the problems have grown worse.... |
| 00:26:36 |
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As hard as it may be, as uncomfortable and contentious as the debates may become, it's time to get... |
| 00:26:52 |
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Now, one place to start is serious financial reform. Look, I am not interested in punishing banks.... |
| 00:27:25 |
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We need to make sure consumers and middle-class families have the information they need to make financial... |
| 00:27:42 |
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Now, the House has already passed financial reform with many of these changes. (Applause.) And the... |
| 00:28:19 |
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Next, we need to encourage American innovation. Last year, we made the largest investment in basic... |
| 00:29:03 |
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But to create more of these clean energy jobs, we need more production, more efficiency, more incentives.... |
| 00:30:23 |
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I am grateful to the House for passing such a bill last year. (Applause.) And this year I'm eager... |
| 00:30:35 |
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I know there have been questions about whether we can afford such changes in a tough economy. I know... |
| 00:31:30 |
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Third, we need to export more of our goods. (Applause.) Because the more products we make and sell... |
| 00:32:33 |
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We have to seek new markets aggressively, just as our competitors are. If America sits on the sidelines... |
| 00:33:41 |
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Fourth, we need to invest in the skills and education of our people. (Applause.) |
| 00:33:46 |
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Now, this year, we've broken through the stalemate between left and right by launching a national... |
| 00:34:50 |
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When we renew the Elementary and Secondary Education Act, we will work with Congress to expand these... |
| 00:35:29 |
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To make college more affordable, this bill will finally end the unwarranted taxpayer subsidies that... |
| 00:36:29 |
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And by the way, it's time for colleges and universities to get serious about cutting their own costs... |
| 00:36:38 |
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Now, the price of college tuition is just one of the burdens facing the middle class. That's why... |
| 00:37:22 |
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This year, we will step up refinancing so that homeowners can move into more affordable mortgages.... |
| 00:38:05 |
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Now, let's clear a few things up. (Laughter.) I didn't choose to tackle this issue to get some legislative... |
| 00:38:54 |
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After nearly a century of trying -- Democratic administrations, Republican administrations -- we are... |
| 00:39:24 |
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And by the way, I want to acknowledge our First Lady, Michelle Obama, who this year is creating a... |
| 00:40:01 |
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Our approach would preserve the right of Americans who have insurance to keep their doctor and their... |
| 00:40:41 |
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Still, this is a complex issue, and the longer it was debated, the more skeptical people became. ... |
| 00:41:06 |
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But I also know this problem is not going away. By the time I'm finished speaking tonight, more Americans... |
| 00:41:53 |
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So, as temperatures cool, I want everyone to take another look at the plan we've proposed. There's... |
| 00:42:46 |
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Here's what I ask Congress, though: Don't walk away from reform. Not now. Not when we are so close.... |
| 00:43:15 |
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Now, even as health care reform would reduce our deficit, it's not enough to dig us out of a massive... |
| 00:43:42 |
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At the beginning of the last decade, the year 2000, America had a budget surplus of over $200 billion.... |
| 00:44:49 |
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Now -- just stating the facts. Now, if we had taken office in ordinary times, I would have liked... |
| 00:45:09 |
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I'm absolutely convinced that was the right thing to do. But families across the country are tightening... |
| 00:45:46 |
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Starting in 2011, we are prepared to freeze government spending for three years. (Applause.) Spending... |
| 00:46:38 |
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We will continue to go through the budget, line by line, page by page, to eliminate programs that... |
| 00:47:13 |
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Now, even after paying for what we spent on my watch, we'll still face the massive deficit we had... |
| 00:47:53 |
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Now, yesterday, the Senate blocked a bill that would have created this commission. So I'll issue... |
| 00:48:40 |
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Now, I know that some in my own party will argue that we can't address the deficit or freeze government... |
| 00:49:24 |
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From some on the right, I expect we'll hear a different argument -– that if we just make fewer investments... |
| 00:50:08 |
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Rather than fight the same tired battles that have dominated Washington for decades, it's time to... |
| 00:50:32 |
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To do that, we have to recognize that we face more than a deficit of dollars right now. We face a... |
| 00:51:16 |
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That's what I came to Washington to do. That's why -– for the first time in history –- my administration... |
| 00:51:32 |
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But we can't stop there. It's time to require lobbyists to disclose each contact they make on behalf... |
| 00:51:51 |
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With all due deference to separation of powers, last week the Supreme Court reversed a century of... |
| 00:52:41 |
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I'm also calling on Congress to continue down the path of earmark reform. Applause.) Democrats and... |
| 00:53:36 |
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Of course, none of these reforms will even happen if we don't also reform how we work with one another.... |
| 00:54:23 |
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But what frustrates the American people is a Washington where every day is Election Day. We can't... |
| 00:55:21 |
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Washington may think that saying anything about the other side, no matter how false, no matter how... |
| 00:55:46 |
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So, no, I will not give up on trying to change the tone of our politics. I know it's an election... |
| 00:56:05 |
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To Democrats, I would remind you that we still have the largest majority in decades, and the people... |
| 00:57:09 |
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This week, I'll be addressing a meeting of the House Republicans. I'd like to begin monthly meetings... |
| 00:57:31 |
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Throughout our history, no issue has united this country more than our security. Sadly, some of the... |
| 00:58:39 |
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That's the work we began last year. Since the day I took office, we've renewed our focus on the terrorists... |
| 00:59:23 |
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And in Afghanistan, we're increasing our troops and training Afghan security forces so they can begin... |
| 01:00:11 |
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As we take the fight to al Qaeda, we are responsibly leaving Iraq to its people. As a candidate,... |
| 01:01:15 |
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Tonight, all of our men and women in uniform -- in Iraq, in Afghanistan, and around the world –- they... |
| 01:02:43 |
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Now, even as we prosecute two wars, we're also confronting perhaps the greatest danger to the American... |
| 01:03:46 |
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Now, these diplomatic efforts have also strengthened our hand in dealing with those nations that insist... |
| 01:04:30 |
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That's the leadership that we are providing –- engagement that advances the common security and prosperity... |
| 01:05:20 |
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As we have for over 60 years, America takes these actions because our destiny is connected to those... |
| 01:06:36 |
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Abroad, America's greatest source of strength has always been our ideals. The same is true at home.... |
| 01:07:08 |
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We must continually renew this promise. My administration has a Civil Rights Division that is once... |
| 01:07:59 |
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We're going to crack down on violations of equal pay laws -– so that women get equal pay for an equal... |
| 01:08:44 |
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In the end, it's our ideals, our values that built America -- values that allowed us to forge a nation... |
| 01:09:30 |
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Unfortunately, too many of our citizens have lost faith that our biggest institutions -– our corporations,... |
| 01:10:28 |
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No wonder there's so much cynicism out there. No wonder there's so much disappointment. |
| 01:10:37 |
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I campaigned on the promise of change –- change we can believe in, the slogan went. And right now,... |
| 01:10:54 |
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But remember this –- I never suggested that change would be easy, or that I could do it alone. Democracy... |
| 01:11:21 |
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Those of us in public office can respond to this reality by playing it safe and avoid telling hard... |
| 01:12:21 |
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Our administration has had some political setbacks this year, and some of them were deserved. But... |
| 01:13:04 |
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It lives on in the struggling small business owner who wrote to me of his company, "None of us," he... |
| 01:13:18 |
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It lives on in the woman who said that even though she and her neighbors have felt the pain of recession,... |
| 01:13:33 |
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It lives on in the 8-year-old boy in Louisiana, who just sent me his allowance and asked if I would... |
| 01:13:44 |
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And it lives on in all the Americans who've dropped everything to go someplace they've never been... |
| 01:14:04 |
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The spirit that has sustained this nation for more than two centuries lives on in you, its people.... |
| 01:14:37 |
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Thank you. God bless you. And God bless the United States of America. (Applause.) |