State of the Union Addresses of Barack Obama
The addresses are separated by three asterisks: ***
Dates of Addresses by Barack Obama in this eBook:
February 24, 2009
January 27, 2010
January 25, 2011
January 24, 2012
February 12, 2013
January 28, 2014
January 20, 2015
January 12, 2016
***
Address Before a Joint Session of the Congress
Barack Obama
February 24, 2009
Madam Speaker, Mr. Vice President, Members of Congress, the First Lady
of the United States--she's around here somewhere: I have 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.
I know that for many Americans watching right now, the state of our
economy is a concern that rises above all others, and rightly so. If
you haven't been personally affected by this recession, you probably
know someone who has: a friend, a neighbor, a member of your family.
You don't need to hear another list of statistics to know that our
economy is in crisis, because you live it every day. It's the worry you
wake up with and the source of sleepless nights. It's the job you
thought you'd retire from but now have lost, the business you built
your dreams upon that's now hanging by a thread, the college acceptance
letter your child had to put back in the envelope. The impact of this
recession is real, and it is everywhere.
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.
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 our 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.
Now, if we're honest with ourselves, we'll admit that for too long, we
have not always met these responsibilities as a Government or as a
people. I say this not to lay blame or to look backwards, but because
it is only by understanding how we arrived at this moment that we'll be
able to lift ourselves out of this predicament.
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, yet we import more oil today than
ever before. The cost of health care eats up more and more of our
savings each year, yet we keep delaying reform. 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 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. People
bought homes they knew they couldn't afford from banks and lenders who
pushed those bad loans anyway. And all the while, critical debates and
difficult decisions were put off for some other time, on some other day.
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 is what I'd like
to talk to you about tonight. 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--not because I'm not mindful of the massive debt we've inherited-
-I am. I called for action because the failure to do so would have cost
more jobs and caused more hardship. In fact, a failure to act would
have worsened our long-term deficit by assuring weak economic growth
for years. And that's why I pushed for quick action. 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 2 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.
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
working households in America will receive a tax cut; a tax cut that
you will see in your paychecks beginning on April 1st. Because of this
plan, families who are struggling to pay tuition costs will receive a
$2,500 tax credit for all 4 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.
Now, I know there are some in this Chamber and watching at home who are
skeptical of whether this plan will work, and 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.
And that's why I've asked Vice President Biden to lead a tough,
unprecedented oversight effort; because nobody messes with Joe. I--am I
right? They don't mess with him. I have told each 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.
I've 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.
So the recovery plan we passed is the first step in getting our economy
back on track. But it is just the first step. Because even if we manage
this plan flawlessly, there will be no real recovery unless we clean up
the credit crisis that has severely weakened our financial system.
I want to speak plainly and candidly about this issue tonight, because
every American should know that it directly affects you and your
family's well-being. You should also know that the money you've
deposited in banks across the country is safe, your insurance is secure,
you can rely on the continued operation of our financial system. That's
not the source of concern. The concern is that if we do not restart
lending in this country, our recovery will be choked off before it even
begins.
You see, the flow of credit is the lifeblood of our economy. The
ability to get a loan is how you finance the purchase of everything
from a home to a car to a college education, how stores stock their
shelves, farms buy equipment, and businesses make payroll.
But credit has stopped flowing the way it should. Too many bad loans
from the housing crisis have made their way onto the books of too many
banks. And with so much debt and so little confidence, these banks are
now fearful of lending out any more money to households, to businesses,
or even to each other. And when there is no lending, families can't
afford to buy homes or cars, so businesses are forced to make layoffs.
Our economy suffers even more, and credit dries up even further. That
is why this administration is moving swiftly and aggressively to break
this destructive cycle, to restore confidence, and restart lending. And
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; Americans who will now be able to take
advantage of the lower interest rates that this plan has already helped
to bring about. In fact, the average family who refinances today can
save nearly $2,000 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.
Now, I understand that on any given day, Wall Street may be more
comforted by an approach that gives bank bailouts with no strings
attached and that holds nobody accountable for their 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.
And 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.
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. 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.
Now, 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 the results that
followed. So were the American taxpayers; so was I. 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 send--I will not spend a single penny for
the purpose of rewarding a single Wall Street executive, 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. [Applause]
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. 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. The only way
this century will be another American century is if we confront at last
the price of our dependence on oil and the high cost of health care,
the schools that aren't preparing our children and the mountain of debt
they stand to inherit. That is our responsibility.
In the next few days, I will submit a budget to Congress. So often,
we've come to view these documents as simply numbers on a page or a
laundry list 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. It reflects the stark reality of what we've inherited, a
trillion-dollar deficit, 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. 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.
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. From the turmoil of the Industrial Revolution came a
system of public high schools that prepared our citizens for a new age.
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.
We are a nation that has seen promise amid peril and claimed
opportunity from ordeal. Now we must be that nation again, and that is
why, even as it cuts back on programs we don't need, 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. 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. 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.
Thanks to our recovery plan, we will double this Nation's supply of
renewable energy in the next 3 years. We've 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 and 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. 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, to protect our security, and save
our planet from the ravages of climate change, 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. That's what we need. And to support that innovation, we will
invest $15 billion a year to develop technologies like wind power and
solar power, advanced biofuels, clean coal, and more efficient cars and
trucks built right here in America.
Speaking of our auto industry, everyone recognizes that years of bad
decisionmaking 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, reimagined
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 cannot walk away from it.
Now, 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's necessary to move
this country forward.
And for that same reason, we must also address the crushing cost of
health care. This is a cost that now causes a bankruptcy in America
every 30 seconds. By the end of the year, it could cause 1.5 million
Americans to lose their homes. In the last 8 years, premiums have grown
four times faster than wages. And in each of these years, 1 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. And it's one of the largest and fastest growing parts of
our budget. Given these facts, we can no longer afford to put health
care reform on hold. We can't afford to do it. It's time.
Already, we've done more to advance the cause of health care reform in
the last 30 days than we've done in the last decade. When it was days
old, this Congress passed a law to provide and protect health insurance
for 11 million American children whose parents work full time. Our
recovery plan will invest in electronic health records, a new
technology that will reduce errors, bring down costs, ensure privacy,
and save lives. It will launch a new effort to conquer a disease that
has touched the life of nearly every American, including me, by seeking
a cure for cancer in our time. And it makes the largest investment ever
in preventive care, because that's one of the best ways to keep our
people healthy and our costs under control.
This budget builds on these reforms. It includes a historic commitment
to comprehensive health care reform, 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. 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's why I'm bringing together businesses and
workers, doctors and health care providers, Democrats and Republicans
to begin work on this issue next week.
I suffer no illusions that this will be an easy process. Once again, it
will be hard. But I also know that nearly a century after Teddy
Roosevelt first called for reform, the cost of our health care has
weighed down our economy and our conscience long enough. So let there
be no doubt: Health care reform cannot wait, it must not wait, and it
will not wait another year.
The third challenge we must address is the urgent need to expand the
promise of education in America. In a global economy where the most
valuable skill you can sell is your knowledge, a good education is no
longer just a pathway to opportunity, it is a prerequisite. 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.
This is a prescription for economic decline, because we know the
countries that out-teach us today will outcompete 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. That is a promise we have
to make to the children of America.
Already, we've made historic investment in education through the
economic recovery plan. We've dramatically expanded early childhood
education and will continue to improve its quality, because we know
that the most formative learning comes in those first years of life.
We've made college affordable for nearly 7 million more students--7
million. And we have provided the resources necessary to prevent
painful cuts and teacher layoffs that would set back our children's
progress.
But we know that our schools don't just need more resources, they need
more reform. And that is why this budget creates new teachers--new
incentives for teacher performance, pathways for advancement, and
rewards for success. 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 as educators to make this
system work. But it is the responsibility of every citizen to
participate in it. So tonight I ask every American to commit to at
least 1 year or more of higher education or career training. This can
be community college or a 4-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's why we will
support--we will provide the support necessary for all young Americans
to complete college and meet a new goal. By 2020, America will once
again have the highest proportion of college graduates in the world.
That is a goal we can meet. That's a goal we can meet.
Now, I know that the price of tuition is higher than ever, which is why
if you are willing to volunteer in your neighborhood or give back to
your community or serve your country, we will make sure that you can
afford a higher education. And to encourage a renewed spirit of
national service for this and future generations, I ask Congress to
send me the bipartisan legislation that bears the name of Senator Orrin
Hatch, as well as an American who has never stopped asking what he can
do for his country, Senator Edward Kennedy.
These education policies will open the doors of opportunity for our
children, but it is up to us to ensure they walk through them. In the
end, there is no program or policy that can substitute for a parent,
for a mother or father who will attend those parent-teacher conferences
or help with homework or turn off the TV, put away the video games,
read to their child. I speak to you not just as a President, but as a
father, when I say that responsibility for our children's education
must begin at home. That is not a Democratic issue or a Republican
issue; that's an American issue.
There is, of course, another responsibility we have to our children.
And that's the responsibility to ensure that we do not pass on to them
a debt they cannot pay. That is critical. [Applause] I agree,
absolutely. See, I know we can get some consensus in here. [Laughter]
With the deficit we inherited, the cost of the crisis we face, and the
long-term challenges we must meet, it has never been more important to
ensure that as our economy recovers, we do what it takes to bring this
deficit down. That is critical.
Now, I'm proud that we passed a recovery plan free of earmarks, and I
want to pass a budget next year that ensures that each dollar we spend
reflects only our most important national priorities.
And yesterday I held a fiscal summit where I pledged to cut the deficit
in half by the end of my first term in office. My administration has
also begun to go line by line through the Federal budget in order to
eliminate wasteful and ineffective programs. As you can imagine, this
is a process that will take some time. But we have already identified
$2 trillion in savings over the next decade.
In this budget, we will end education programs that don't work and end
direct payments to large agribusiness that don't need them. We'll
eliminate the no-bid contracts that have wasted billions in Iraq and
reform our defense budget so that we're not paying for cold war-era
weapons systems we don't use. We will root out the waste and fraud and
abuse in our Medicare program that doesn't make our seniors any
healthier. We will restore a sense of fairness and balance to our Tax
Code by finally ending the tax breaks for corporations that ship our
jobs overseas.
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. Now, let me
be clear--let me be absolutely clear, because I know you'll end up
hearing some of the same 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, a quarter million dollars a year, you
will not see your taxes increased a single dime. I repeat: Not one
single dime. In fact--not a dime--in fact, the recovery plan provides a
tax cut--that's right, a tax cut--for 95 percent of working families.
And by the way, these checks are on the way.
Now, 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.
Finally, because we're also suffering from a deficit of trust, I am
committed to restoring a sense of honesty and accountability to our
budget. That is why this budget looks ahead 10 years and accounts for
spending that was left out under the old rules. And for the first time,
that includes the full cost of fighting in Iraq and Afghanistan. For 7
years, we have been a nation at war. No longer will we hide its price.
Along with our outstanding national security team, I'm 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.
And with our friends and allies, 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 halfway around the world. We will not
allow it.
As we meet here tonight, our men and women in uniform stand watch
abroad and more are readying to deploy. To each and every one of them
and to the families who bear the quiet burden of their absence,
Americans are united in sending one message: We honor your service; we
are inspired by your sacrifice; and you have our unyielding support.
To relieve the strain on our forces, my budget increases the number of
our soldiers and marines. And to keep our sacred trust with those who
serve, we will raise their pay and give our veterans the expanded
health care and benefits that they have earned.
To overcome extremism, we must also be vigilant in upholding the values
our troops defend, because there is no force in the world more powerful
than the example of America. And that is why I have ordered the closing
of the detention center at Guantanamo Bay and will seek swift and
certain justice for captured terrorists. Because living our values
doesn't make us weaker, it makes us safer and it makes us stronger. And
that is why I can stand here tonight and say without exception or
equivocation that the United States of America does not torture. We can
make that commitment here tonight.
In words and deeds, we are showing the world that a new era of
engagement has begun. For we know that America cannot meet the threats
of this century alone, but the world cannot meet them without America.
We cannot shun the negotiating table, nor ignore the foes or forces
that could do us harm. We are instead called to move forward with the
sense of confidence and candor that serious times demand.
To seek progress towards a secure and lasting peace between Israel and
her neighbors, we have appointed an envoy to sustain our effort. 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,
and spur demand for American goods in markets across the globe. For the
world depends on us having 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. Those of us gathered here tonight
have been called to govern in extraordinary times. It is a tremendous
burden, but also a great privilege, one that has been entrusted to few
generations of Americans. For in our hands lies the ability to shape
our world for good or for ill.
I know that it's easy to lose sight of this truth, to become cynical
and doubtful, consumed with the petty and the trivial. But in my life,
I have also learned that hope is found in unlikely places, that
inspiration often comes not from those with the most power or celebrity,
but from the dreams and aspirations of ordinary Americans who are
anything but ordinary.
I think of Leonard Abess, a bank president from Miami who reportedly
cashed out of his company, took a $60 million bonus, and gave it out to
all 399 people who worked for him, plus another 72 who used to work for
him. He didn't tell anyone, but when the local newspaper found out, he
simply said, "I knew some of these people since I was 7 years old. It
didn't feel right getting the money myself."
I think about Greensburg, Kansas, a town that was completely destroyed
by a tornado, but is being rebuilt by its residents as a global example
of how clean energy can power an entire community, how it can bring
jobs and businesses to a place where piles of bricks and rubble once
lay. "The tragedy was terrible," said one of the men who helped them
rebuild. "But the folks here know that it also provided an incredible
opportunity."
I think about Ty'Sheoma Bethea, the young girl from that school I
visited in Dillon, South Carolina, a place where the ceilings leak, the
paint peels off the walls, and they have to stop teaching six times a
day because the train barrels by their classroom. She had been told
that her school is hopeless, but the other day after class she went to
the public library and typed up a letter to the people sitting in this
Chamber. She even asked her principal for the money to buy a stamp. The
letter asks us for help and says: "We are just students trying to
become lawyers, doctors, Congressmen like yourself, and one day
President, so we can make a change to not just the State of South
Carolina, but also the world. We are not quitters." That's what she
said: "We are not quitters."
These words and these stories tell us something about the spirit of the
people who sent us here. They tell us that even in the most trying
times, amid the most difficult circumstances, there is a generosity, a
resilience, a decency, and a determination that perseveres, a
willingness to take responsibility for our future and for posterity.
Their resolve must be our inspiration. Their concerns must be our cause.
And we must show them and all our people that we are equal to the task
before us.
I know--look, I know that we haven't agreed on every issue thus far.
[Laughter] There are surely times in the future where we will part ways.
But I also know that every American who is sitting here tonight loves
this country and wants it to succeed. I know that. That must be the
starting point for every debate we have in the coming months and where
we return after those debates are done. That is the foundation on which
the American people expect us to build common ground.
And if we do, if we come together and lift this Nation from the depths
of this crisis, if we put our people back to work and restart the
engine of our prosperity, if we confront without fear the challenges of
our time and summon that enduring spirit of an America that does not
quit, then someday years from now our children can tell their children
that this was the time when we performed, in the words that are carved
into this very Chamber, "something worthy to be remembered."
Thank you. God bless you, and may God bless the United States of
America. Thank you.
***
Address Before a Joint Session of the Congress on the State of the Union
Barack Obama
January 27, 2010
Madam Speaker, Vice President Biden, Members of Congress, distinguished
guests, and fellow Americans: Our Constitution declares that from time
to time, the President shall give to Congress information about the
state of our Union. For 220 years, our leaders have fulfilled this duty.
They've done so during periods of prosperity and tranquility, and
they've done so in the midst of war and depression, at moments of great
strife and great struggle.
It's tempting to look back on these moments and assume that our
progress was inevitable, that America was always destined to succeed.
But when the Union was turned back at Bull Run and the Allies first
landed at Omaha Beach, victory was very much in doubt. When the market
crashed on Black Tuesday and marchers were beaten on Bloody Sunday, the
future was anything but certain. These were the times that tested the
courage of our convictions and the strength of our Union. And despite
all our divisions and disagreements, our hesitations and our fears,
America prevailed because we chose to move forward as one Nation, as
one people. Again, we are tested. And again, we must answer history's
call.
One year ago, I took office amid two wars, an economy rocked by a
severe recession, a financial system on the verge of collapse, and a
Government deeply in debt. Experts from across the political spectrum
warned that if we did not act, we might face a second depression. So we
acted, immediately and aggressively. And 1 year later, the worst of the
storm has passed.
But the devastation remains. One in 10 Americans still cannot find work.
Many businesses have shuttered. Home values have declined. Small towns
and rural communities have been hit especially hard. And for those
who'd already known poverty, life's become that much harder.
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.
So I know the anxieties that are out there right now. They're not new.
These struggles are the reason I ran for President. These struggles are
what I've witnessed for years, in places like Elkhart, Indiana;
Galesburg, Illinois. I hear about them in the letters that I read each
night. The toughest to read are those written by children asking why
they have to move from their home, asking when their mom or dad will be
able to go back to work.
For these Americans and so many others, change has not come fast enough.
Some are frustrated, some are angry. They don't understand why it seems
like bad behavior on Wall Street is rewarded, but hard work on Main
Street isn't, or why Washington has been unable or unwilling to solve
any of our problems. They're tired of the partisanship and the shouting
and the pettiness. They know we can't afford it. Not now.
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.
And you know what else they share? They share a stubborn resilience in
the face of adversity. After one of the most difficult years in our
history, they remain busy building cars and teaching kids, starting
businesses and going back to school. They're coaching Little League and
helping their neighbors. One woman wrote to me and said, "We are
strained but hopeful, struggling but encouraged."
It's because of this spirit, this great decency and great strength,
that I have never been more hopeful about America's future than I am
tonight. Despite our hardships, our Union is strong. We do not give up.
We do not quit. We do not allow fear or division to break our spirit.
In this new decade, it's time the American people get a Government that
matches their decency, that embodies their strength. And tonight I'd
like to talk about how together we can deliver on that promise.
It begins with our economy. Our most urgent task upon taking office was
to shore up the same banks that helped cause this crisis. It was not
easy to do. 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. [Laughter]
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.
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, as we stabilized the financial system, we also took steps to get
our economy growing again, save as many jobs as possible, and help
Americans who had become unemployed. That's why we extended or
increased unemployment benefits for more than 18 million Americans,
made health insurance 65 percent cheaper for families who get their
coverage through COBRA, and passed 25 different tax cuts.
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 home buyers. We cut taxes for parents trying to care for
their children. We cut taxes for 8 million Americans paying for college.
[Applause] I thought I'd get some applause on that one. [Laughter]
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.
Now, 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. Three hundred thousand
are teachers and other education workers. Tens of thousands are cops,
firefighters, correctional officers, first-responders. And we're on
track to add another 1 1/2 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. Economists on the left and the right say this
bill has helped save jobs and avert disaster. But you don't have to
take their word for it. Talk to the small business in Phoenix that will
triple its workforce because of the Recovery Act. Talk to the window
manufacturer in Philadelphia who said he used to be skeptical about the
Recovery Act, until he had to add two more work shifts just because of
the business it created. Talk to the single teacher raising two kids
who was told by her principal in the last week of school that because
of the Recovery Act, she wouldn't be laid off after all.
There are stories like this all across America. And after 2 years of
recession, the economy is growing again. Retirement funds have started
to gain back some of their value. Businesses are beginning to invest
again, and slowly some are starting to hire again.
But I realize that for every success story, there are other stories, of
men and women who wake up with the anguish of not knowing where their
next paycheck will come from, who send out resumes week after week and
hear nothing in response. That is why jobs must be our number-one 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. [Applause] I agree, absolutely. But Government
can create the conditions necessary for businesses to expand and hire
more workers. We should start where most new jobs do, in small
businesses, companies that begin when an entrepreneur takes a chance on
a dream or a worker decides it's time she became her own boss. Through
sheer grit and determination, these companies have weathered the
recession, and they're ready to grow. But when you talk to small-
business owners in places like Allentown, Pennsylvania, or Elyria, Ohio,
you find out that even though banks on Wall Street are lending again,
they're mostly lending to bigger companies. Financing remains difficult
for small-business owners across the country, even those that are
making a profit.
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.
Next, we can put Americans to work today building the infrastructure of
tomorrow. From the first railroads to the Interstate Highway System,
our Nation has always been built to compete. There's no reason Europe
or China should have the fastest trains or the new factories that
manufacture clean energy products. Tomorrow I'll visit Tampa, Florida,
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.
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.
Now, the House has passed a jobs bill that includes some of these steps.
As the first order of business this year, I urge the Senate to do the
same, and I know they will. They will. People are out of work. They're
hurting. They need our help. And I want a jobs bill on my desk without
delay.
But the truth is, these steps won't make up for the 7 million jobs that
we've lost over the last 2 years. The only way to move to full
employment is to lay a new foundation for long-term economic growth and
finally address the problems that America's families have confronted
for years.
We can't afford another so-called economic expansion like the one from
the last decade, what some call the "lost decade," where jobs grew more
slowly than during any prior expansion, where the income of the average
American household declined while the cost of health care and tuition
reached record highs, where prosperity was built on a housing bubble
and financial speculation.
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. For those who make these
claims, I have one simple question: How long should we wait? How long
should America put its future on hold?
You see, Washington has been telling us to wait for decades, even as
the problems have grown worse. Meanwhile, China's not waiting to revamp
its economy. Germany's not waiting. India's not waiting. These nations
are--they're not standing still. These nations aren't playing for
second place. They're putting more emphasis on math and science.
They're rebuilding their infrastructure. They're making serious
investments in clean energy because they want those jobs. Well, I do
not accept second place for the United States of America. As hard as it
may be, as uncomfortable and contentious as the debates may become,
it's time to get serious about fixing the problems that are hampering
our growth.
Now, one place to start is serious financial reform. Look, I am not
interested in punishing banks. 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.
We need to make sure consumers and middle class families have the
information they need to make financial decisions. We can't allow
financial institutions, including those that take your deposits, to
take risks that threaten the whole economy.
Now, the House has already passed financial reform with many of these
changes, and the lobbyists are trying to kill it. But we cannot let
them win this fight. And if the bill that ends up on my desk does not
meet the test of real reform, I will send it back until we get it right.
We've got to get it right.