Obama: American Recovery and Reinvestment Plan

Filed in National by on January 3, 2009

Transcript below.

As the holiday season comes to end, we are thankful for family and friends and all the blessings that make life worth living. But as we mark the beginning of a new year, we also know that America faces great and growing challenges—challenges that threaten our nation’s economy and our dreams for the future. Nearly two million Americans have lost their jobs this past year—and millions more are working harder in jobs that pay less and come with fewer benefits. For too many families, this new year brings new unease and uncertainty as bills pile up, debts continue to mount and parents worry that their children won’t have the same opportunities they had.

However we got here, the problems we face today are not Democratic problems or Republican problems. The dreams of putting a child through college, or staying in your home, or retiring with dignity and security know no boundaries of party or ideology.

These are America’s problems, and we must come together as Americans to meet them with the urgency this moment demands. Economists from across the political spectrum agree that if we don’t act swiftly and boldly, we could see a much deeper economic downturn that could lead to double digit unemployment and the American Dream slipping further and further out of reach.

That’s why we need an American Recovery and Reinvestment Plan that not only creates jobs in the short-term but spurs economic growth and competitiveness in the long-term. And this plan must be designed in a new way—we can’t just fall into the old Washington habit of throwing money at the problem. We must make strategic investments that will serve as a down payment on our long-term economic future. We must demand vigorous oversight and strict accountability for achieving results. And we must restore fiscal responsibility and make the tough choices so that as the economy recovers, the deficit starts to come down. That is how we will achieve the number one goal of my plan—which is to create three million new jobs, more than eighty percent of them in the private sector.

To put people back to work today and reduce our dependence on foreign oil tomorrow, we will double renewable energy production and renovate public buildings to make them more energy efficient. To build a 21st century economy, we must engage contractors across the nation to create jobs rebuilding our crumbling roads, bridges, and schools. To save not only jobs, but money and lives, we will update and computerize our health care system to cut red tape, prevent medical mistakes, and help reduce health care costs by billions of dollars each year. To make America, and our children, a success in this new global economy, we will build 21st century classrooms, labs, and libraries. And to put more money into the pockets of hardworking families, we will provide direct tax relief to 95 percent of American workers.

I look forward to meeting next week in Washington with leaders from both parties to discuss this plan. I am optimistic that if we come together to seek solutions that advance not the interests of any party, or the agenda of any one group, but the aspirations of all Americans, then we will meet the challenges of our time just as previous generations have met the challenges of theirs.

There is no reason we can’t do this. We are a people of boundless industry and ingenuity. We are innovators and entrepreneurs and have the most dedicated and productive workers in the world. And we have always triumphed in moments of trial by drawing on that great American spirit—that perseverance, determination and unyielding commitment to opportunity on which our nation was founded. And in this new year, let us resolve to do so once again. Thank you.

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Comments (13)

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  1. Truth Teller says:

    If Obama hopes to get his plans rolling then he better get Harry Reid to get in step and cut out all this bullshit that he and Durbin started in the Senate.Burris is a sure vote for Obama instead of fighting him Reid should decide how he will prevent the Repuks from preventing Al Franken to be seated. Also if we learned anything from the past Obama should be weary of both Nancy and Harry for they are likely to play the roll of Senator Mitchell and Congressman Foley which stymied Clinton’s programs.

  2. David says:

    Ok, We heard the outline before. What we need is a real bill. Congress is still waiting and so are we.

  3. jason330 says:

    I have a problem with this passage.

    However we got here, the problems we face today are not Democratic problems or Republican problems. The dreams of putting a child through college, or staying in your home, or retiring with dignity and security know no boundaries of party or ideology.

    I get it, but we need some blame laying and finger pointing at some point.

    It is the greed based anti-American Republican Party and their moronic windbag apologists that got us into this mess. It needs to be pointed out once in a while. Otherwise, they just go on and on with their moronic windbagedness trying to enrich the wealthy and piss on everyone else.

  4. anon says:

    I have a problem with this passage.

    I agree with you. But we don’t have to work with Republicans in Congress. Obama does.

    I think the best kind of blame-laying will be to quietly undo all the Bush disasters, and to succeed with new policies. Rhetoric on top of that is not needed. I hope this is Obama’s line of thinking too.

  5. Art Downs says:

    I wonder how many people grousing about ‘Republican Greed’ are not showing off their envy?

    Could we use ‘greed’ to describe Franklin Delano Raines and his cooking of the books to grab $90 million in unearned bonus payments?

    What about the niggardly charitable contributions of Joe Biden?

    What about the fast-buck artistry of the new Governor of Delaware? How many of his stockholders did he burn when he cashed in his chips?

    Now we have a president and vice president who have played in politics all of their lives who are going to make economic decisions based on little more than whim and political expedience.

    How about the scheming Bernie Madoff? What was his political affiliation? How many have gotten begging letters from the ACLU as a result of his ripoff?

    What were the political links of mega-swindler Marc Rich? What was the role of AG designate Eric Holder?

    Closer to home, what was really behind that ‘loan’ to up and coming political star Sherry Freebery ? Was it an untaxed gift or was there a reason for a persistent stench of quid pro quo? Pehaps the generous old heiress was not so batty.

  6. jason330 says:

    I get it Art. Republicanism was a huge success for the country.

    That’s why I’m grousing now. Simple envy.

  7. David says:

    David Obey and others are still asking where is the plan? So I ask you where is the plan? Governing is a lot harder than campaigning. You have to give more than an outline of hope and dreams.

  8. jason330 says:

    You have that wrong. Ig is not Obey, but Republican Mitch McConnell.

    Link

    Obey’s comments indicate that he is worried that Congress may not be able to “pump money into the economy fast enough.” .

  9. anonone says:

    Jason,

    Unlike Bush who knowingly campaigned on the lie of being a “Uniter not a divider,” I am afraid Obama actually believes that uniting with the repubs is a good idea. Maybe if he can get a Collins or Snow to break with her caucus to stop filibusters that is a good plan. Also, he may be trying to get grassroots support from so-called “moderate repubs” to put pressure on their more wingnut representatives.

    Otherwise “ugh.” I hate this bipartisan crap. He oughtta be throwing them anvils.

  10. Unstable Isotope says:

    Krugman was right about bipartisanship. It’s when the opposition party gives in to the governing party. The so-called Republican moderates are going to have to decide once and for all whether they stand with their sinking ship or whether they will cooperate with the Obama administration.

  11. Rebecca says:

    In Washington its the “Southern Block Republicans”. In Delaware its the Dixiecrats in the Senate. Anybody see a pattern here? Krugman was soooooo right. It is just another word for racism — they are scared to death that we will give a little of their inherited or looted money to Those People. This isn’t envy you dolt! This is pure hatred of greed. And corporatism, and “I’ve got mine, screw you”. And yes, racism.

  12. nemski says:

    David wrote: Ok, We heard the outline before. What we need is a real bill. Congress is still waiting and so are we.

    Umm, he’s not president yet. No matter how much we wish it, nothing can happen until Jan 20th. Geez.

  13. cassandra_m says:

    Besides, he won’ read a real bill — he’ll wait for one of the wingnut bloggers or radio idiots to tell him (wrongly) what is in any bill.