Driving past the Beltway noise, President Obama
"cleared a few things up" at last night's State of the Union.
He restated the facts, reviewed accomplishments of the last year and focused on the future.
Both sides of the aisles rose to their feet in support of the President's remarks, but the big surprise of the evening proved a bit disconcerting for the Supreme Court more accustomed to slamming home the last word on American issues. (View the video
here).
I've posted highlights that hit home for me. Let's hear yours.
Talk to Me.***
One in 10 Americans still cannot find work
(...)
This recession has also compounded the burdens that America's families have been dealing with for decades --
the burden of working harder and longer for less, of being unable to save enough to retire or help kids with college.(...)
And if there's one thing that has unified Democrats and Republicans, and everybody in between, it's that
we all hated the bank bailout. I hated it. I hated it. You hated it. It was about as popular as a root canal.
(...)
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.
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.
(...)
Now, let me repeat: We cut taxes. We cut taxes for 95 percent of working families. We cut taxes for small businesses. We cut taxes for first-time homebuyers. We cut taxes for parents trying to care for their children. We cut taxes for 8 million Americans paying for college.
I thought I'd get some applause on that one.
(...)
That is why jobs must be our No. 1 focus in 2010, and that's why I'm calling for a new jobs bill tonight.
Now, the true engine of job creation in this country will always be America's businesses. But government can create the conditions necessary for businesses to expand and hire more workers.
(...)
Because of the steps we took, there are about 2 million Americans working right now who would otherwise be unemployed. Two hundred thousand work in construction and clean energy, 300,000 are teachers and other education workers. Tens of thousands are cops, firefighters, correctional officers, first responders. And we're on track to add another one-and-a-half-million jobs to this total by the end of the year.
The plan that has made all of this possible, from the tax cuts to the jobs, is the Recovery Act. That's right -- the Recovery Act, also known as the stimulus bill.
(...)
So tonight, I'm proposing that we take $30 billion of the money Wall Street banks have repaid and use it to help community banks give small businesses the credit they need to stay afloat. I'm also proposing a new small business tax credit -- one that will go to over 1 million small businesses who hire new workers or raise wages. While we're at it, let's also eliminate all capital gains taxes on small business investment, and provide a tax incentive for all large businesses and all small businesses to invest in new plants and equipment.
(...)
Tomorrow, I'll visit Tampa, Fla., where workers will soon break ground on a new high-speed railroad funded by the Recovery Act. There are projects like that all across this country that will create jobs and help move our nation's goods, services and information.
(...)
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.
(...)
From the day I took office, I've been told that addressing our larger challenges is too ambitious, such an effort would be too contentious. I've been told that our political system is too gridlocked, and that we should just put things on hold for a while.
How long should we wait? How long should America put its future on hold?(...)
I'm interested in protecting our economy. A strong, healthy financial market makes it possible for businesses to access credit and create new jobs. It channels the savings of families into investments that raise incomes. But that can only happen if we guard against the same recklessness that nearly brought down our entire economy.
(...)
But to create more of these clean energy jobs, we need more production, more efficiency, more incentives. And that means building a new generation of safe, clean nuclear power plants in this country. It means making tough decisions about opening new offshore areas for oil and gas development. It means continued investment in advanced
biofuels and clean coal technologies. And, yes, it means passing a comprehensive energy and climate bill with incentives that will finally make clean energy the profitable kind of energy in America.
(...)
To make college more affordable, this bill will finally end the unwarranted taxpayer subsidies that go to banks for student loans. Instead, let's take that money and give families a $10,000 tax credit for four years of college and increase Pell Grants. And let's tell another 1 million students that when they graduate, they will be required to pay only 10 percent of their income on student loans, and all of their debt will be forgiven after 20 years -- and forgiven after 10 years if they choose a career in public service, because in the United States of America, no one should go broke because they chose to go to college.
And by the way, it's time for colleges and universities to get serious about cutting their own costs -- because they, too, have a responsibility to help solve this problem.
(...)
Now, let's clear a few things up. I didn't choose to tackle this issue to get some legislative victory under my belt. And by now it should be fairly obvious that I didn't take on health care because it was good politics. I took on health care because of the stories I've heard from Americans with pre-existing conditions whose lives depend on getting coverage, patients who've been denied coverage, families -- even those with insurance -- who are just one illness away from financial ruin.
(...)
Our approach would preserve the right of Americans who have insurance t
o keep their doctor and their plan. It would reduce costs and premiums for millions of families and businesses. And according to the
Congressional Budget Office -- the independent organization that both parties have cited as the official scorekeeper for Congress -- our approach would bring down the deficit by as much as $1 trillion over the next two decades.
(...)
But if anyone from either party has a better approach that will bring down premiums, bring down the deficit, cover the uninsured, strengthen
Medicare for seniors and stop insurance company abuses, let me know. Let me know. Let me know. I'm eager to see it.
(...)
Here's what I ask Congress, though:
Don't walk away from reform. Not now. Not when we are so close. Let us find a way to come together and finish the job for the American people. Let's get it done. Let's get it done.
(...)
But we took office amid a crisis. And our efforts to prevent a second depression have added another $1 trillion to our national debt. That, too, is a fact.
(...)
We will have all of our combat troops out of Iraq by the end of this August. (...)
Starting in 2011, we are prepared to freeze government spending for three years. Spending related to our national security, Medicare,
Medicaid and
Social Security will not be affected. (...)
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.
(...)
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 to correct some of these problems.(...)
So let's put aside the schoolyard taunts about who's tough. Let's reject the false choice between protecting our people and upholding our values. Let's leave behind the fear and division, and do what it takes to defend our nation and forge a more hopeful future -- for America and for the world.
(...)
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.
(...)
I campaigned on the promise of change -- change we can believe in, the slogan went. And right now, I know there are many Americans who aren't sure if they still believe we can change -- or that I can deliver it.
But remember this -- I never suggested that change would be easy, or that I could do it alone. Democracy in a nation of 300 million people can be noisy and messy and complicated. And when you try to do big things and make big changes, it stirs passions and controversy. That's just how it is.
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
(...)
Our administration has had some political setbacks this year and some of them were deserved. But I wake up every day knowing that they are nothing compared to the setbacks that families all across this country have faced this year. And what keeps me going -- what keeps me fighting -- is that despite all these setbacks, that spirit of determination and optimism,
that fundamental decency that has always been at the core of the American people, that lives on.
Labels: State of the Union
