[Script Info]
Title: 
[Events]
Format: Layer, Start, End, Style, Name, MarginL, MarginR, MarginV, Effect, Text
Dialogue: 0,0:00:00.08,0:00:07.01,Default,,0000,0000,0000,,President Obama: Mr. Speaker, Mr. Vice President, members of Congress,
Dialogue: 0,0:00:07.01,0:00:13.02,Default,,0000,0000,0000,,and fellow Americans: Tonight we meet at an urgent time
Dialogue: 0,0:00:13.02,0:00:15.05,Default,,0000,0000,0000,,for our country.
Dialogue: 0,0:00:15.05,0:00:19.09,Default,,0000,0000,0000,,We continue to face an economic crisis that has left millions of
Dialogue: 0,0:00:19.09,0:00:24.01,Default,,0000,0000,0000,,our neighbors jobless, and a political crisis that's made
Dialogue: 0,0:00:24.01,0:00:27.01,Default,,0000,0000,0000,,things worse.
Dialogue: 0,0:00:27.01,0:00:29.00,Default,,0000,0000,0000,,This past week, reporters have been asking,
Dialogue: 0,0:00:29.00,0:00:33.01,Default,,0000,0000,0000,,"What will this speech mean for the President?
Dialogue: 0,0:00:33.01,0:00:35.07,Default,,0000,0000,0000,,What will it mean for Congress?
Dialogue: 0,0:00:35.07,0:00:41.00,Default,,0000,0000,0000,,How will it affect their polls, and the next election?"
Dialogue: 0,0:00:41.00,0:00:45.04,Default,,0000,0000,0000,,But the millions of Americans who are watching right now,
Dialogue: 0,0:00:45.04,0:00:48.03,Default,,0000,0000,0000,,they don't care about politics.
Dialogue: 0,0:00:48.03,0:00:51.06,Default,,0000,0000,0000,,They have real-life concerns.
Dialogue: 0,0:00:51.06,0:00:55.04,Default,,0000,0000,0000,,Many have spent months looking for work.
Dialogue: 0,0:00:55.04,0:00:58.05,Default,,0000,0000,0000,,Others are doing their best just to scrape by -- giving up nights
Dialogue: 0,0:00:58.05,0:01:02.09,Default,,0000,0000,0000,,out with the family to save on gas or make the mortgage;
Dialogue: 0,0:01:02.09,0:01:07.08,Default,,0000,0000,0000,,postponing retirement to send a kid to college.
Dialogue: 0,0:01:07.08,0:01:12.01,Default,,0000,0000,0000,,These men and women grew up with faith in an America where hard
Dialogue: 0,0:01:12.01,0:01:16.08,Default,,0000,0000,0000,,work and responsibility paid off.
Dialogue: 0,0:01:16.08,0:01:20.03,Default,,0000,0000,0000,,They believed in a country where everyone gets a fair shake and
Dialogue: 0,0:01:20.03,0:01:25.08,Default,,0000,0000,0000,,does their fair share -- where if you stepped up, did your job,
Dialogue: 0,0:01:25.08,0:01:29.02,Default,,0000,0000,0000,,and were loyal to your company, that loyalty would be rewarded
Dialogue: 0,0:01:29.02,0:01:32.02,Default,,0000,0000,0000,,with a decent salary and good benefits;
Dialogue: 0,0:01:32.02,0:01:35.02,Default,,0000,0000,0000,,maybe a raise once in a while.
Dialogue: 0,0:01:35.02,0:01:38.03,Default,,0000,0000,0000,,If you did the right thing, you could make it.
Dialogue: 0,0:01:38.03,0:01:41.09,Default,,0000,0000,0000,,Anybody could make it in America.
Dialogue: 0,0:01:41.09,0:01:48.06,Default,,0000,0000,0000,,For decades now, Americans have watched that compact erode.
Dialogue: 0,0:01:48.06,0:01:53.02,Default,,0000,0000,0000,,They have seen the decks too often stacked against them.
Dialogue: 0,0:01:53.02,0:01:55.09,Default,,0000,0000,0000,,And they know that Washington has not always put their
Dialogue: 0,0:01:55.09,0:01:59.04,Default,,0000,0000,0000,,interests first.
Dialogue: 0,0:01:59.04,0:02:01.01,Default,,0000,0000,0000,,The people of this country work hard
Dialogue: 0,0:02:01.01,0:02:03.10,Default,,0000,0000,0000,,to meet their responsibilities.
Dialogue: 0,0:02:03.10,0:02:09.01,Default,,0000,0000,0000,,The question tonight is whether we'll meet ours.
Dialogue: 0,0:02:09.01,0:02:12.03,Default,,0000,0000,0000,,The question is whether, in the face of an ongoing national
Dialogue: 0,0:02:12.03,0:02:16.02,Default,,0000,0000,0000,,crisis, we can stop the political circus and actually
Dialogue: 0,0:02:16.02,0:02:18.00,Default,,0000,0000,0000,,do something to help the economy.
Dialogue: 0,0:02:18.00,0:02:35.03,Default,,0000,0000,0000,,(applause)
Dialogue: 0,0:02:35.03,0:02:38.09,Default,,0000,0000,0000,,The question -- the question is whether we can restore some
Dialogue: 0,0:02:38.09,0:02:43.06,Default,,0000,0000,0000,,of the fairness and security that has defined this nation
Dialogue: 0,0:02:43.06,0:02:46.06,Default,,0000,0000,0000,,since our beginning.
Dialogue: 0,0:02:46.06,0:02:51.00,Default,,0000,0000,0000,,Those of us here tonight can't solve all our nation's woes.
Dialogue: 0,0:02:51.00,0:02:54.08,Default,,0000,0000,0000,,Ultimately, our recovery will be driven not by Washington,
Dialogue: 0,0:02:54.08,0:02:58.04,Default,,0000,0000,0000,,but by our businesses and our workers.
Dialogue: 0,0:02:58.04,0:03:01.02,Default,,0000,0000,0000,,But we can help.
Dialogue: 0,0:03:01.02,0:03:03.06,Default,,0000,0000,0000,,We can make a difference.
Dialogue: 0,0:03:03.06,0:03:06.08,Default,,0000,0000,0000,,There are steps we can take right now to improve
Dialogue: 0,0:03:06.08,0:03:10.03,Default,,0000,0000,0000,,people's lives.
Dialogue: 0,0:03:10.03,0:03:13.03,Default,,0000,0000,0000,,I am sending this Congress a plan that you should pass
Dialogue: 0,0:03:13.03,0:03:15.08,Default,,0000,0000,0000,,right away.
Dialogue: 0,0:03:15.08,0:03:18.07,Default,,0000,0000,0000,,It's called the American Jobs Act.
Dialogue: 0,0:03:18.07,0:03:21.02,Default,,0000,0000,0000,,There should be nothing controversial about this
Dialogue: 0,0:03:21.02,0:03:22.07,Default,,0000,0000,0000,,piece of legislation.
Dialogue: 0,0:03:22.07,0:03:25.05,Default,,0000,0000,0000,,Everything in here is the kind of proposal that's been
Dialogue: 0,0:03:25.05,0:03:29.06,Default,,0000,0000,0000,,supported by both Democrats and Republicans -- including
Dialogue: 0,0:03:29.06,0:03:32.04,Default,,0000,0000,0000,,many who sit here tonight.
Dialogue: 0,0:03:32.04,0:03:35.04,Default,,0000,0000,0000,,And everything in this bill will be paid for.
Dialogue: 0,0:03:35.04,0:03:36.03,Default,,0000,0000,0000,,Everything.
Dialogue: 0,0:03:36.03,0:03:45.02,Default,,0000,0000,0000,,(applause)
Dialogue: 0,0:03:45.02,0:03:49.05,Default,,0000,0000,0000,,The purpose of the American Jobs Act is simple: to put more
Dialogue: 0,0:03:49.05,0:03:52.09,Default,,0000,0000,0000,,people back to work and more money in the pockets of those
Dialogue: 0,0:03:52.09,0:03:54.07,Default,,0000,0000,0000,,who are working.
Dialogue: 0,0:03:54.07,0:03:56.08,Default,,0000,0000,0000,,It will create more jobs for construction workers,
Dialogue: 0,0:03:56.08,0:03:59.04,Default,,0000,0000,0000,,more jobs for teachers, more jobs for veterans,
Dialogue: 0,0:03:59.04,0:04:01.08,Default,,0000,0000,0000,,and more jobs for long-term unemployed.
Dialogue: 0,0:04:01.08,0:04:02.09,Default,,0000,0000,0000,,(applause)
Dialogue: 0,0:04:02.09,0:04:06.08,Default,,0000,0000,0000,,It will provide -- it will provide a tax break for
Dialogue: 0,0:04:06.08,0:04:09.10,Default,,0000,0000,0000,,companies who hire new workers, and it will cut payroll taxes in
Dialogue: 0,0:04:09.10,0:04:14.02,Default,,0000,0000,0000,,half for every working American and every small business.
Dialogue: 0,0:04:14.02,0:04:20.10,Default,,0000,0000,0000,,(applause)
Dialogue: 0,0:04:20.10,0:04:25.00,Default,,0000,0000,0000,,It will provide a jolt to an economy that has stalled,
Dialogue: 0,0:04:25.00,0:04:27.04,Default,,0000,0000,0000,,and give companies confidence that if they invest and if they
Dialogue: 0,0:04:27.04,0:04:31.05,Default,,0000,0000,0000,,hire, there will be customers for their products and services.
Dialogue: 0,0:04:31.05,0:04:34.03,Default,,0000,0000,0000,,You should pass this jobs plan right away.
Dialogue: 0,0:04:34.03,0:04:40.08,Default,,0000,0000,0000,,(applause)
Dialogue: 0,0:04:40.08,0:04:44.10,Default,,0000,0000,0000,,Everyone here knows that small businesses are where most new
Dialogue: 0,0:04:44.10,0:04:46.07,Default,,0000,0000,0000,,jobs begin.
Dialogue: 0,0:04:46.07,0:04:48.05,Default,,0000,0000,0000,,And you know that while corporate profits have come
Dialogue: 0,0:04:48.05,0:04:52.02,Default,,0000,0000,0000,,roaring back, smaller companies haven't.
Dialogue: 0,0:04:52.02,0:04:55.03,Default,,0000,0000,0000,,So for everyone who speaks so passionately about making life
Dialogue: 0,0:04:55.03,0:04:59.09,Default,,0000,0000,0000,,easier for "job creators," this plan is for you.
Dialogue: 0,0:04:59.09,0:05:00.03,Default,,0000,0000,0000,,(applause)
Dialogue: 0,0:05:00.03,0:05:04.03,Default,,0000,0000,0000,,Pass this jobs bill -- pass this jobs bill,
Dialogue: 0,0:05:04.03,0:05:07.07,Default,,0000,0000,0000,,and starting tomorrow, small businesses will get a tax cut
Dialogue: 0,0:05:07.07,0:05:11.05,Default,,0000,0000,0000,,if they hire new workers or if they raise workers' wages.
Dialogue: 0,0:05:11.05,0:05:14.08,Default,,0000,0000,0000,,Pass this jobs bill, and all small business owners will also
Dialogue: 0,0:05:14.08,0:05:17.10,Default,,0000,0000,0000,,see their payroll taxes cut in half next year.
Dialogue: 0,0:05:17.10,0:05:18.07,Default,,0000,0000,0000,,(applause)
Dialogue: 0,0:05:18.07,0:05:22.04,Default,,0000,0000,0000,,If you have 50 employees -- if you have 50 employees making an
Dialogue: 0,0:05:22.04,0:05:26.06,Default,,0000,0000,0000,,average salary, that's an $80,000 tax cut.
Dialogue: 0,0:05:26.06,0:05:28.08,Default,,0000,0000,0000,,And all businesses will be able to continue writing off the
Dialogue: 0,0:05:28.08,0:05:32.05,Default,,0000,0000,0000,,investments they make in 2012.
Dialogue: 0,0:05:32.05,0:05:35.08,Default,,0000,0000,0000,,It's not just Democrats who have supported this kind of proposal.
Dialogue: 0,0:05:35.08,0:05:39.01,Default,,0000,0000,0000,,Fifty House Republicans have proposed the same payroll tax
Dialogue: 0,0:05:39.01,0:05:40.09,Default,,0000,0000,0000,,cut that's in this plan.
Dialogue: 0,0:05:40.09,0:05:42.06,Default,,0000,0000,0000,,You should pass it right away.
Dialogue: 0,0:05:42.06,0:05:50.03,Default,,0000,0000,0000,,(applause)
Dialogue: 0,0:05:50.03,0:05:53.01,Default,,0000,0000,0000,,Pass this jobs bill, and we can put people to work
Dialogue: 0,0:05:53.01,0:05:55.05,Default,,0000,0000,0000,,rebuilding America.
Dialogue: 0,0:05:55.05,0:05:58.09,Default,,0000,0000,0000,,Everyone here knows we have badly decaying roads and bridges
Dialogue: 0,0:05:58.09,0:06:01.01,Default,,0000,0000,0000,,all over the country.
Dialogue: 0,0:06:01.01,0:06:03.04,Default,,0000,0000,0000,,Our highways are clogged with traffic.
Dialogue: 0,0:06:03.04,0:06:07.03,Default,,0000,0000,0000,,Our skies are the most congested in the world.
Dialogue: 0,0:06:07.03,0:06:09.07,Default,,0000,0000,0000,,It's an outrage.
Dialogue: 0,0:06:09.07,0:06:12.03,Default,,0000,0000,0000,,Building a world-class transportation system is
Dialogue: 0,0:06:12.03,0:06:15.04,Default,,0000,0000,0000,,part of what made us a economic superpower.
Dialogue: 0,0:06:15.04,0:06:17.09,Default,,0000,0000,0000,,And now we're going to sit back and watch China build newer
Dialogue: 0,0:06:17.09,0:06:20.04,Default,,0000,0000,0000,,airports and faster railroads?
Dialogue: 0,0:06:20.04,0:06:22.05,Default,,0000,0000,0000,,At a time when millions of unemployed construction
Dialogue: 0,0:06:22.05,0:06:25.00,Default,,0000,0000,0000,,workers could build them right here in America?
Dialogue: 0,0:06:25.00,0:06:44.05,Default,,0000,0000,0000,,(applause)
Dialogue: 0,0:06:44.05,0:06:48.01,Default,,0000,0000,0000,,There are private construction companies all across America
Dialogue: 0,0:06:48.01,0:06:51.00,Default,,0000,0000,0000,,just waiting to get to work.
Dialogue: 0,0:06:51.00,0:06:54.00,Default,,0000,0000,0000,,There's a bridge that needs repair between Ohio and Kentucky
Dialogue: 0,0:06:54.00,0:06:56.03,Default,,0000,0000,0000,,that's on one of the busiest trucking routes
Dialogue: 0,0:06:56.03,0:06:58.00,Default,,0000,0000,0000,,in North America.
Dialogue: 0,0:06:58.00,0:07:01.00,Default,,0000,0000,0000,,A public transit project in Houston that will help clear
Dialogue: 0,0:07:01.00,0:07:04.03,Default,,0000,0000,0000,,up one of the worst areas of traffic in the country.
Dialogue: 0,0:07:04.03,0:07:08.01,Default,,0000,0000,0000,,And there are schools throughout this country that desperately
Dialogue: 0,0:07:08.01,0:07:10.05,Default,,0000,0000,0000,,need renovating.
Dialogue: 0,0:07:10.05,0:07:13.07,Default,,0000,0000,0000,,How can we expect our kids to do their best in places that
Dialogue: 0,0:07:13.07,0:07:16.03,Default,,0000,0000,0000,,are literally falling apart?
Dialogue: 0,0:07:16.03,0:07:18.01,Default,,0000,0000,0000,,This is America.
Dialogue: 0,0:07:18.01,0:07:21.01,Default,,0000,0000,0000,,Every child deserves a great school -- and we can give it
Dialogue: 0,0:07:21.01,0:07:22.04,Default,,0000,0000,0000,,to them, if we act now.
Dialogue: 0,0:07:22.04,0:07:37.01,Default,,0000,0000,0000,,(applause)
Dialogue: 0,0:07:37.01,0:07:40.02,Default,,0000,0000,0000,,The American Jobs Act will repair and modernize at least
Dialogue: 0,0:07:40.02,0:07:42.05,Default,,0000,0000,0000,,35,000 schools.
Dialogue: 0,0:07:42.05,0:07:46.02,Default,,0000,0000,0000,,It will put people to work right now fixing roofs and windows,
Dialogue: 0,0:07:46.02,0:07:48.06,Default,,0000,0000,0000,,installing science labs and high-speed Internet
Dialogue: 0,0:07:48.06,0:07:51.07,Default,,0000,0000,0000,,in classrooms all across this country.
Dialogue: 0,0:07:51.07,0:07:54.04,Default,,0000,0000,0000,,It will rehabilitate homes and businesses in communities hit
Dialogue: 0,0:07:54.04,0:07:57.01,Default,,0000,0000,0000,,hardest by foreclosures.
Dialogue: 0,0:07:57.01,0:07:59.05,Default,,0000,0000,0000,,It will jumpstart thousands of transportation projects
Dialogue: 0,0:07:59.05,0:08:01.02,Default,,0000,0000,0000,,all across the country.
Dialogue: 0,0:08:01.02,0:08:04.04,Default,,0000,0000,0000,,And to make sure the money is properly spent,
Dialogue: 0,0:08:04.04,0:08:07.08,Default,,0000,0000,0000,,we're building on reforms we've already put in place.
Dialogue: 0,0:08:07.08,0:08:09.07,Default,,0000,0000,0000,,No more earmarks.
Dialogue: 0,0:08:09.07,0:08:11.09,Default,,0000,0000,0000,,No more boondoggles.
Dialogue: 0,0:08:11.09,0:08:14.04,Default,,0000,0000,0000,,No more bridges to nowhere.
Dialogue: 0,0:08:14.04,0:08:17.00,Default,,0000,0000,0000,,We're cutting the red tape that prevents some of these projects
Dialogue: 0,0:08:17.00,0:08:19.08,Default,,0000,0000,0000,,from getting started as quickly as possible.
Dialogue: 0,0:08:19.08,0:08:23.08,Default,,0000,0000,0000,,And we'll set up an independent fund to attract private dollars
Dialogue: 0,0:08:23.08,0:08:27.08,Default,,0000,0000,0000,,and issue loans based on two criteria: how badly a
Dialogue: 0,0:08:27.08,0:08:30.07,Default,,0000,0000,0000,,construction project is needed and how much good it will do
Dialogue: 0,0:08:30.07,0:08:31.07,Default,,0000,0000,0000,,for the economy.
Dialogue: 0,0:08:31.07,0:08:39.01,Default,,0000,0000,0000,,(applause)
Dialogue: 0,0:08:39.01,0:08:42.05,Default,,0000,0000,0000,,This idea came from a bill written by a Texas Republican
Dialogue: 0,0:08:42.05,0:08:45.08,Default,,0000,0000,0000,,and a Massachusetts Democrat.
Dialogue: 0,0:08:45.08,0:08:48.04,Default,,0000,0000,0000,,The idea for a big boost in construction is supported by
Dialogue: 0,0:08:48.04,0:08:51.06,Default,,0000,0000,0000,,America's largest business organization and America's
Dialogue: 0,0:08:51.06,0:08:54.02,Default,,0000,0000,0000,,largest labor organization.
Dialogue: 0,0:08:54.02,0:08:57.07,Default,,0000,0000,0000,,It's the kind of proposal that's been supported in the past by
Dialogue: 0,0:08:57.07,0:09:00.02,Default,,0000,0000,0000,,Democrats and Republicans alike.
Dialogue: 0,0:09:00.02,0:09:01.08,Default,,0000,0000,0000,,You should pass it right away.
Dialogue: 0,0:09:01.08,0:09:14.03,Default,,0000,0000,0000,,(applause)
Dialogue: 0,0:09:14.03,0:09:17.00,Default,,0000,0000,0000,,Pass this jobs bill, and thousands of teachers in
Dialogue: 0,0:09:17.00,0:09:20.00,Default,,0000,0000,0000,,every state will go back to work.
Dialogue: 0,0:09:20.00,0:09:22.03,Default,,0000,0000,0000,,These are the men and women charged with preparing our
Dialogue: 0,0:09:22.03,0:09:25.02,Default,,0000,0000,0000,,children for a world where the competition has never
Dialogue: 0,0:09:25.02,0:09:27.06,Default,,0000,0000,0000,,been tougher.
Dialogue: 0,0:09:27.06,0:09:29.07,Default,,0000,0000,0000,,But while they're adding teachers in places like South
Dialogue: 0,0:09:29.07,0:09:34.02,Default,,0000,0000,0000,,Korea, we're laying them off in droves.
Dialogue: 0,0:09:34.02,0:09:36.02,Default,,0000,0000,0000,,It's unfair to our kids.
Dialogue: 0,0:09:36.02,0:09:38.07,Default,,0000,0000,0000,,It undermines their future and ours.
Dialogue: 0,0:09:38.07,0:09:40.01,Default,,0000,0000,0000,,And it has to stop.
Dialogue: 0,0:09:40.01,0:09:43.05,Default,,0000,0000,0000,,Pass this bill, and put our teachers back in the classroom
Dialogue: 0,0:09:43.05,0:09:44.04,Default,,0000,0000,0000,,where they belong.
Dialogue: 0,0:09:44.04,0:09:58.05,Default,,0000,0000,0000,,(applause)
Dialogue: 0,0:09:58.05,0:10:01.06,Default,,0000,0000,0000,,Pass this jobs bill, and companies will get extra tax
Dialogue: 0,0:10:01.06,0:10:05.04,Default,,0000,0000,0000,,credits if they hire America's veterans.
Dialogue: 0,0:10:05.04,0:10:08.03,Default,,0000,0000,0000,,We ask these men and women to leave their careers,
Dialogue: 0,0:10:08.03,0:10:14.03,Default,,0000,0000,0000,,leave their families, risk their lives to fight for our country.
Dialogue: 0,0:10:14.03,0:10:17.06,Default,,0000,0000,0000,,The last thing they should have to do is fight for a job when
Dialogue: 0,0:10:17.06,0:10:18.07,Default,,0000,0000,0000,,they come home.
Dialogue: 0,0:10:18.07,0:10:38.06,Default,,0000,0000,0000,,(applause)
Dialogue: 0,0:10:38.06,0:10:41.07,Default,,0000,0000,0000,,Pass this bill, and hundreds of thousands of disadvantaged young
Dialogue: 0,0:10:41.07,0:10:44.04,Default,,0000,0000,0000,,people will have the hope and the dignity of a summer
Dialogue: 0,0:10:44.04,0:10:46.01,Default,,0000,0000,0000,,job next year.
Dialogue: 0,0:10:46.01,0:10:46.08,Default,,0000,0000,0000,,And their parents --
Dialogue: 0,0:10:46.08,0:10:48.07,Default,,0000,0000,0000,,(applause)
Dialogue: 0,0:10:48.07,0:10:51.05,Default,,0000,0000,0000,,-- their parents, low-income Americans who desperately want
Dialogue: 0,0:10:51.05,0:10:55.09,Default,,0000,0000,0000,,to work, will have more ladders out of poverty.
Dialogue: 0,0:10:55.09,0:10:59.00,Default,,0000,0000,0000,,Pass this jobs bill, and companies will get a $4,000
Dialogue: 0,0:10:59.00,0:11:01.08,Default,,0000,0000,0000,,tax credit if they hire anyone who has spent more
Dialogue: 0,0:11:01.08,0:11:03.07,Default,,0000,0000,0000,,than six months looking for a job.
Dialogue: 0,0:11:03.07,0:11:10.10,Default,,0000,0000,0000,,(applause)
Dialogue: 0,0:11:10.10,0:11:14.00,Default,,0000,0000,0000,,We have to do more to help the long-term unemployed in their
Dialogue: 0,0:11:14.00,0:11:15.08,Default,,0000,0000,0000,,search for work.
Dialogue: 0,0:11:15.08,0:11:18.05,Default,,0000,0000,0000,,This jobs plan builds on a program in Georgia that several
Dialogue: 0,0:11:18.05,0:11:20.06,Default,,0000,0000,0000,,Republican leaders have highlighted,
Dialogue: 0,0:11:20.06,0:11:22.05,Default,,0000,0000,0000,,where people who collect unemployment insurance
Dialogue: 0,0:11:22.05,0:11:26.04,Default,,0000,0000,0000,,participate in temporary work as a way to build their skills
Dialogue: 0,0:11:26.04,0:11:28.07,Default,,0000,0000,0000,,while they look for a permanent job.
Dialogue: 0,0:11:28.07,0:11:30.06,Default,,0000,0000,0000,,The plan also extends unemployment insurance
Dialogue: 0,0:11:30.06,0:11:31.09,Default,,0000,0000,0000,,for another year.
Dialogue: 0,0:11:31.09,0:11:32.06,Default,,0000,0000,0000,,(applause)
Dialogue: 0,0:11:32.06,0:11:36.07,Default,,0000,0000,0000,,If the millions of unemployed Americans stopped getting this
Dialogue: 0,0:11:36.07,0:11:39.04,Default,,0000,0000,0000,,insurance, and stopped using that money for basic
Dialogue: 0,0:11:39.04,0:11:41.05,Default,,0000,0000,0000,,necessities, it would be a devastating blow
Dialogue: 0,0:11:41.05,0:11:43.00,Default,,0000,0000,0000,,to this economy.
Dialogue: 0,0:11:43.00,0:11:45.09,Default,,0000,0000,0000,,Democrats and Republicans in this chamber have supported
Dialogue: 0,0:11:45.09,0:11:48.06,Default,,0000,0000,0000,,unemployment insurance plenty of times in the past.
Dialogue: 0,0:11:48.06,0:11:51.00,Default,,0000,0000,0000,,And in this time of prolonged hardship,
Dialogue: 0,0:11:51.00,0:11:52.08,Default,,0000,0000,0000,,you should pass it again -- right away.
Dialogue: 0,0:11:52.08,0:11:59.04,Default,,0000,0000,0000,,(applause)
Dialogue: 0,0:11:59.04,0:12:02.10,Default,,0000,0000,0000,,Pass this jobs bill, and the typical working family will
Dialogue: 0,0:12:02.10,0:12:06.06,Default,,0000,0000,0000,,get a $1,500 tax cut next year.
Dialogue: 0,0:12:06.06,0:12:09.07,Default,,0000,0000,0000,,Fifteen hundred dollars that would have been taken out of
Dialogue: 0,0:12:09.07,0:12:14.02,Default,,0000,0000,0000,,your pocket will go into your pocket.
Dialogue: 0,0:12:14.02,0:12:16.08,Default,,0000,0000,0000,,This expands on the tax cut that Democrats and Republicans
Dialogue: 0,0:12:16.08,0:12:19.08,Default,,0000,0000,0000,,already passed for this year.
Dialogue: 0,0:12:19.08,0:12:23.09,Default,,0000,0000,0000,,If we allow that tax cut to expire -- if we refuse to act --
Dialogue: 0,0:12:23.09,0:12:27.02,Default,,0000,0000,0000,,middle-class families will get hit with a tax increase at the
Dialogue: 0,0:12:27.02,0:12:29.01,Default,,0000,0000,0000,,worst possible time.
Dialogue: 0,0:12:29.01,0:12:31.02,Default,,0000,0000,0000,,We can't let that happen.
Dialogue: 0,0:12:31.02,0:12:34.03,Default,,0000,0000,0000,,I know that some of you have sworn oaths to never raise any
Dialogue: 0,0:12:34.03,0:12:37.05,Default,,0000,0000,0000,,taxes on anyone for as long as you live.
Dialogue: 0,0:12:37.05,0:12:40.03,Default,,0000,0000,0000,,Now is not the time to carve out an exception and raise
Dialogue: 0,0:12:40.03,0:12:42.08,Default,,0000,0000,0000,,middle-class taxes, which is why you should pass this
Dialogue: 0,0:12:42.08,0:12:43.08,Default,,0000,0000,0000,,bill right away.
Dialogue: 0,0:12:43.08,0:12:57.09,Default,,0000,0000,0000,,(applause)
Dialogue: 0,0:12:57.09,0:13:00.06,Default,,0000,0000,0000,,This is the American Jobs Act.
Dialogue: 0,0:13:00.06,0:13:03.01,Default,,0000,0000,0000,,It will lead to new jobs for construction workers,
Dialogue: 0,0:13:03.01,0:13:05.06,Default,,0000,0000,0000,,for teachers, for veterans, for first responders,
Dialogue: 0,0:13:05.06,0:13:08.09,Default,,0000,0000,0000,,young people and the long-term unemployed.
Dialogue: 0,0:13:08.09,0:13:11.04,Default,,0000,0000,0000,,It will provide tax credits to companies that hire new workers,
Dialogue: 0,0:13:11.04,0:13:13.06,Default,,0000,0000,0000,,tax relief to small business owners,
Dialogue: 0,0:13:13.06,0:13:16.04,Default,,0000,0000,0000,,and tax cuts for the middle class.
Dialogue: 0,0:13:16.04,0:13:18.04,Default,,0000,0000,0000,,And here's the other thing I want the American people to
Dialogue: 0,0:13:18.04,0:13:21.08,Default,,0000,0000,0000,,know: The American Jobs Act will not add to the deficit.
Dialogue: 0,0:13:21.08,0:13:23.03,Default,,0000,0000,0000,,It will be paid for.
Dialogue: 0,0:13:23.03,0:13:24.02,Default,,0000,0000,0000,,And here's how.
Dialogue: 0,0:13:24.02,0:13:27.01,Default,,0000,0000,0000,,(applause)
Dialogue: 0,0:13:27.01,0:13:31.03,Default,,0000,0000,0000,,The agreement we passed in July will cut government spending by
Dialogue: 0,0:13:31.03,0:13:34.05,Default,,0000,0000,0000,,about $1 trillion over the next 10 years.
Dialogue: 0,0:13:34.05,0:13:37.01,Default,,0000,0000,0000,,It also charges this Congress to come up with an additional
Dialogue: 0,0:13:37.01,0:13:41.04,Default,,0000,0000,0000,,$1.5 trillion in savings by Christmas.
Dialogue: 0,0:13:41.04,0:13:44.00,Default,,0000,0000,0000,,Tonight, I am asking you to increase that amount so that
Dialogue: 0,0:13:44.00,0:13:46.07,Default,,0000,0000,0000,,it covers the full cost of the American Jobs Act.
Dialogue: 0,0:13:46.07,0:13:50.01,Default,,0000,0000,0000,,And a week from Monday, I'll be releasing a more ambitious
Dialogue: 0,0:13:50.01,0:13:53.01,Default,,0000,0000,0000,,deficit plan -- a plan that will not only cover the cost of this
Dialogue: 0,0:13:53.01,0:13:57.01,Default,,0000,0000,0000,,jobs bill, but stabilize our debt in the long run.
Dialogue: 0,0:13:57.01,0:14:06.00,Default,,0000,0000,0000,,(applause)
Dialogue: 0,0:14:06.00,0:14:08.00,Default,,0000,0000,0000,,This approach is basically the one I've been advocating
Dialogue: 0,0:14:08.00,0:14:10.02,Default,,0000,0000,0000,,for months.
Dialogue: 0,0:14:10.02,0:14:12.05,Default,,0000,0000,0000,,In addition to the trillion dollars of spending cuts I've
Dialogue: 0,0:14:12.05,0:14:16.05,Default,,0000,0000,0000,,already signed into law, it's a balanced plan that would reduce
Dialogue: 0,0:14:16.05,0:14:19.09,Default,,0000,0000,0000,,the deficit by making additional spending cuts,
Dialogue: 0,0:14:19.09,0:14:22.08,Default,,0000,0000,0000,,by making modest adjustments to health care programs like
Dialogue: 0,0:14:22.08,0:14:26.04,Default,,0000,0000,0000,,Medicare and Medicaid, and by reforming our tax code in a way
Dialogue: 0,0:14:26.04,0:14:29.03,Default,,0000,0000,0000,,that asks the wealthiest Americans and biggest
Dialogue: 0,0:14:29.03,0:14:31.09,Default,,0000,0000,0000,,corporations to pay their fair share.
Dialogue: 0,0:14:31.09,0:14:39.04,Default,,0000,0000,0000,,(applause)
Dialogue: 0,0:14:39.04,0:14:41.09,Default,,0000,0000,0000,,What's more, the spending cuts wouldn't happen so abruptly that
Dialogue: 0,0:14:41.09,0:14:45.00,Default,,0000,0000,0000,,they'd be a drag on our economy, or prevent us from helping small
Dialogue: 0,0:14:45.00,0:14:47.06,Default,,0000,0000,0000,,businesses and middle-class families get back on their
Dialogue: 0,0:14:47.06,0:14:50.03,Default,,0000,0000,0000,,feet right away.
Dialogue: 0,0:14:50.03,0:14:52.06,Default,,0000,0000,0000,,Now, I realize there are some in my party who don't think we
Dialogue: 0,0:14:52.06,0:14:55.08,Default,,0000,0000,0000,,should make any changes at all to Medicare and Medicaid,
Dialogue: 0,0:14:55.08,0:14:58.05,Default,,0000,0000,0000,,and I understand their concerns.
Dialogue: 0,0:14:58.05,0:15:02.08,Default,,0000,0000,0000,,But here's the truth: Millions of Americans rely on Medicare
Dialogue: 0,0:15:02.08,0:15:04.05,Default,,0000,0000,0000,,in their retirement.
Dialogue: 0,0:15:04.05,0:15:07.04,Default,,0000,0000,0000,,And millions more will do so in the future.
Dialogue: 0,0:15:07.04,0:15:09.08,Default,,0000,0000,0000,,They pay for this benefit during their working years.
Dialogue: 0,0:15:09.08,0:15:11.06,Default,,0000,0000,0000,,They earn it.
Dialogue: 0,0:15:11.06,0:15:14.08,Default,,0000,0000,0000,,But with an aging population and rising health care costs,
Dialogue: 0,0:15:14.08,0:15:17.07,Default,,0000,0000,0000,,we are spending too fast to sustain the program.
Dialogue: 0,0:15:17.07,0:15:20.07,Default,,0000,0000,0000,,And if we don't gradually reform the system while protecting
Dialogue: 0,0:15:20.07,0:15:24.00,Default,,0000,0000,0000,,current beneficiaries, it won't be there when future
Dialogue: 0,0:15:24.00,0:15:26.02,Default,,0000,0000,0000,,retirees need it.
Dialogue: 0,0:15:26.02,0:15:28.05,Default,,0000,0000,0000,,We have to reform Medicare to strengthen it.
Dialogue: 0,0:15:28.05,0:15:46.02,Default,,0000,0000,0000,,(applause)
Dialogue: 0,0:15:46.02,0:15:48.02,Default,,0000,0000,0000,,I am also -- I'm also well aware that there are many Republicans
Dialogue: 0,0:15:48.02,0:15:50.09,Default,,0000,0000,0000,,who don't believe we should raise taxes on those who are
Dialogue: 0,0:15:50.09,0:15:54.02,Default,,0000,0000,0000,,most fortunate and can best afford it.
Dialogue: 0,0:15:54.02,0:15:58.07,Default,,0000,0000,0000,,But here is what every American knows: While most people in this
Dialogue: 0,0:15:58.07,0:16:01.06,Default,,0000,0000,0000,,country struggle to make ends meet,
Dialogue: 0,0:16:01.06,0:16:04.05,Default,,0000,0000,0000,,a few of the most affluent citizens and most profitable
Dialogue: 0,0:16:04.05,0:16:07.06,Default,,0000,0000,0000,,corporations enjoy tax breaks and loopholes that
Dialogue: 0,0:16:07.06,0:16:10.00,Default,,0000,0000,0000,,nobody else gets.
Dialogue: 0,0:16:10.00,0:16:12.06,Default,,0000,0000,0000,,Right now, Warren Buffett pays a lower tax rate than
Dialogue: 0,0:16:12.06,0:16:16.07,Default,,0000,0000,0000,,his secretary -- an outrage he has asked us to fix.
Dialogue: 0,0:16:16.07,0:16:18.02,Default,,0000,0000,0000,,(laughter)
Dialogue: 0,0:16:18.02,0:16:24.01,Default,,0000,0000,0000,,We need a tax code where everyone gets a fair shake
Dialogue: 0,0:16:24.01,0:16:25.09,Default,,0000,0000,0000,,and where everybody pays their fair share.
Dialogue: 0,0:16:25.09,0:16:39.07,Default,,0000,0000,0000,,(applause)
Dialogue: 0,0:16:39.07,0:16:42.01,Default,,0000,0000,0000,,And by the way, I believe the vast majority of wealthy
Dialogue: 0,0:16:42.01,0:16:45.05,Default,,0000,0000,0000,,Americans and CEOs are willing to do just that if it helps the
Dialogue: 0,0:16:45.05,0:16:49.06,Default,,0000,0000,0000,,economy grow and gets our fiscal house in order.
Dialogue: 0,0:16:49.06,0:16:52.06,Default,,0000,0000,0000,,I'll also offer ideas to reform a corporate tax code
Dialogue: 0,0:16:52.06,0:16:55.04,Default,,0000,0000,0000,,that stands as a monument to special interest
Dialogue: 0,0:16:55.04,0:16:56.09,Default,,0000,0000,0000,,influence in Washington.
Dialogue: 0,0:16:56.09,0:16:59.06,Default,,0000,0000,0000,,By eliminating pages of loopholes and deductions,
Dialogue: 0,0:16:59.06,0:17:02.00,Default,,0000,0000,0000,,we can lower one of the highest corporate tax
Dialogue: 0,0:17:02.00,0:17:03.01,Default,,0000,0000,0000,,rates in the world.
Dialogue: 0,0:17:03.01,0:17:03.08,Default,,0000,0000,0000,,(applause)
Dialogue: 0,0:17:03.08,0:17:06.04,Default,,0000,0000,0000,,Our tax code should not give an advantage to companies
Dialogue: 0,0:17:06.04,0:17:09.03,Default,,0000,0000,0000,,that can afford the best-connected lobbyists.
Dialogue: 0,0:17:09.03,0:17:11.08,Default,,0000,0000,0000,,It should give an advantage to companies that invest and create
Dialogue: 0,0:17:11.08,0:17:14.03,Default,,0000,0000,0000,,jobs right here in the United States of America.
Dialogue: 0,0:17:14.03,0:17:30.03,Default,,0000,0000,0000,,(applause)
Dialogue: 0,0:17:30.03,0:17:34.08,Default,,0000,0000,0000,,So we can reduce this deficit, pay down our debt,
Dialogue: 0,0:17:34.08,0:17:38.07,Default,,0000,0000,0000,,and pay for this jobs plan in the process.
Dialogue: 0,0:17:38.07,0:17:41.09,Default,,0000,0000,0000,,But in order to do this, we have to decide what
Dialogue: 0,0:17:41.09,0:17:44.04,Default,,0000,0000,0000,,our priorities are.
Dialogue: 0,0:17:44.04,0:17:47.06,Default,,0000,0000,0000,,We have to ask ourselves, "What's the best way to grow
Dialogue: 0,0:17:47.06,0:17:51.02,Default,,0000,0000,0000,,the economy and create jobs?"
Dialogue: 0,0:17:51.02,0:17:54.02,Default,,0000,0000,0000,,Should we keep tax loopholes for oil companies?
Dialogue: 0,0:17:54.02,0:17:56.08,Default,,0000,0000,0000,,Or should we use that money to give small business owners a tax
Dialogue: 0,0:17:56.08,0:17:59.03,Default,,0000,0000,0000,,credit when they hire new workers?
Dialogue: 0,0:17:59.03,0:18:03.01,Default,,0000,0000,0000,,Because we can't afford to do both.
Dialogue: 0,0:18:03.01,0:18:06.05,Default,,0000,0000,0000,,Should we keep tax breaks for millionaires and billionaires?
Dialogue: 0,0:18:06.05,0:18:09.08,Default,,0000,0000,0000,,Or should we put teachers back to work so our kids can graduate
Dialogue: 0,0:18:09.08,0:18:11.07,Default,,0000,0000,0000,,ready for college and good jobs?
Dialogue: 0,0:18:11.07,0:18:16.01,Default,,0000,0000,0000,,(applause)
Dialogue: 0,0:18:16.01,0:18:20.03,Default,,0000,0000,0000,,Right now, we can't afford to do both.
Dialogue: 0,0:18:20.03,0:18:22.09,Default,,0000,0000,0000,,This isn't political grandstanding.
Dialogue: 0,0:18:22.09,0:18:25.02,Default,,0000,0000,0000,,This isn't class warfare.
Dialogue: 0,0:18:25.02,0:18:26.07,Default,,0000,0000,0000,,This is simple math.
Dialogue: 0,0:18:26.07,0:18:28.09,Default,,0000,0000,0000,,(laughter)
Dialogue: 0,0:18:28.09,0:18:30.00,Default,,0000,0000,0000,,This is simple math.
Dialogue: 0,0:18:30.00,0:18:33.00,Default,,0000,0000,0000,,These are real choices.
Dialogue: 0,0:18:33.00,0:18:34.10,Default,,0000,0000,0000,,These are real choices that we've got to make.
Dialogue: 0,0:18:34.10,0:18:37.07,Default,,0000,0000,0000,,And I'm pretty sure I know what most Americans would choose.
Dialogue: 0,0:18:37.07,0:18:39.09,Default,,0000,0000,0000,,It's not even close.
Dialogue: 0,0:18:39.09,0:18:42.06,Default,,0000,0000,0000,,And it's time for us to do what's right for our future.
Dialogue: 0,0:18:42.06,0:18:50.08,Default,,0000,0000,0000,,(applause)
Dialogue: 0,0:18:50.08,0:18:54.01,Default,,0000,0000,0000,,Now, the American Jobs Act answers the urgent need to
Dialogue: 0,0:18:54.01,0:18:57.00,Default,,0000,0000,0000,,create jobs right away.
Dialogue: 0,0:18:57.00,0:18:59.05,Default,,0000,0000,0000,,But we can't stop there.
Dialogue: 0,0:18:59.05,0:19:02.04,Default,,0000,0000,0000,,As I've argued since I ran for this office,
Dialogue: 0,0:19:02.04,0:19:04.05,Default,,0000,0000,0000,,we have to look beyond the immediate crisis and start
Dialogue: 0,0:19:04.05,0:19:08.02,Default,,0000,0000,0000,,building an economy that lasts into the future --
Dialogue: 0,0:19:08.02,0:19:11.03,Default,,0000,0000,0000,,an economy that creates good, middle-class jobs that pay well
Dialogue: 0,0:19:11.03,0:19:13.06,Default,,0000,0000,0000,,and offer security.
Dialogue: 0,0:19:13.06,0:19:16.01,Default,,0000,0000,0000,,We now live in a world where technology has made it possible
Dialogue: 0,0:19:16.01,0:19:19.07,Default,,0000,0000,0000,,for companies to take their business anywhere.
Dialogue: 0,0:19:19.07,0:19:23.06,Default,,0000,0000,0000,,If we want them to start here and stay here and hire here,
Dialogue: 0,0:19:23.06,0:19:26.10,Default,,0000,0000,0000,,we have to be able to out-build and out-educate and out-innovate
Dialogue: 0,0:19:26.10,0:19:28.03,Default,,0000,0000,0000,,every other country on Earth.
Dialogue: 0,0:19:28.03,0:19:36.02,Default,,0000,0000,0000,,(applause)
Dialogue: 0,0:19:36.02,0:19:39.04,Default,,0000,0000,0000,,And this task of making America more competitive for the long
Dialogue: 0,0:19:39.04,0:19:42.09,Default,,0000,0000,0000,,haul, that's a job for all of us.
Dialogue: 0,0:19:42.09,0:19:45.09,Default,,0000,0000,0000,,For government and for private companies.
Dialogue: 0,0:19:45.09,0:19:48.01,Default,,0000,0000,0000,,For states and for local communities -- and for
Dialogue: 0,0:19:48.01,0:19:50.10,Default,,0000,0000,0000,,every American citizen.
Dialogue: 0,0:19:50.10,0:19:53.09,Default,,0000,0000,0000,,All of us will have to up our game.
Dialogue: 0,0:19:53.09,0:19:58.02,Default,,0000,0000,0000,,All of us will have to change the way we do business.
Dialogue: 0,0:19:58.02,0:20:01.07,Default,,0000,0000,0000,,My administration can and will take some steps to improve our
Dialogue: 0,0:20:01.07,0:20:04.09,Default,,0000,0000,0000,,competitiveness on our own.
Dialogue: 0,0:20:04.09,0:20:07.04,Default,,0000,0000,0000,,For example, if you're a small business owner who has a
Dialogue: 0,0:20:07.04,0:20:09.02,Default,,0000,0000,0000,,contract with the federal government,
Dialogue: 0,0:20:09.02,0:20:11.06,Default,,0000,0000,0000,,we're going to make sure you get paid a lot faster
Dialogue: 0,0:20:11.06,0:20:12.06,Default,,0000,0000,0000,,than you do right now.
Dialogue: 0,0:20:12.06,0:20:18.03,Default,,0000,0000,0000,,(applause)
Dialogue: 0,0:20:18.03,0:20:21.01,Default,,0000,0000,0000,,We're also planning to cut away the red tape that prevents too
Dialogue: 0,0:20:21.01,0:20:24.02,Default,,0000,0000,0000,,many rapidly growing startup companies from raising capital
Dialogue: 0,0:20:24.02,0:20:25.06,Default,,0000,0000,0000,,and going public.
Dialogue: 0,0:20:25.06,0:20:27.10,Default,,0000,0000,0000,,And to help responsible homeowners,
Dialogue: 0,0:20:27.10,0:20:30.09,Default,,0000,0000,0000,,we're going to work with federal housing agencies to help more
Dialogue: 0,0:20:30.09,0:20:34.01,Default,,0000,0000,0000,,people refinance their mortgages at interest rates that are now
Dialogue: 0,0:20:34.01,0:20:35.09,Default,,0000,0000,0000,,near 4 percent.
Dialogue: 0,0:20:35.09,0:20:36.08,Default,,0000,0000,0000,,That's a step --
Dialogue: 0,0:20:36.08,0:20:50.06,Default,,0000,0000,0000,,(applause)
Dialogue: 0,0:20:50.06,0:20:52.01,Default,,0000,0000,0000,,-- I know you guys must be for this,
Dialogue: 0,0:20:52.01,0:20:54.06,Default,,0000,0000,0000,,because that's a step that can put more than $2,000
Dialogue: 0,0:20:54.06,0:20:57.08,Default,,0000,0000,0000,,a year in a family's pocket, and give a lift to an economy
Dialogue: 0,0:20:57.08,0:21:02.08,Default,,0000,0000,0000,,still burdened by the drop in housing prices.
Dialogue: 0,0:21:02.08,0:21:05.03,Default,,0000,0000,0000,,So, some things we can do on our own.
Dialogue: 0,0:21:05.03,0:21:08.09,Default,,0000,0000,0000,,Other steps will require congressional action.
Dialogue: 0,0:21:08.09,0:21:11.03,Default,,0000,0000,0000,,Today you passed reform that will speed up the outdated
Dialogue: 0,0:21:11.03,0:21:13.09,Default,,0000,0000,0000,,patent process, so that entrepreneurs can turn a new
Dialogue: 0,0:21:13.09,0:21:17.03,Default,,0000,0000,0000,,idea into a new business as quickly as possible.
Dialogue: 0,0:21:17.03,0:21:19.06,Default,,0000,0000,0000,,That's the kind of action we need.
Dialogue: 0,0:21:19.06,0:21:23.07,Default,,0000,0000,0000,,Now it's time to clear the way for a series of trade agreements
Dialogue: 0,0:21:23.07,0:21:26.03,Default,,0000,0000,0000,,that would make it easier for American companies to sell their
Dialogue: 0,0:21:26.03,0:21:30.08,Default,,0000,0000,0000,,products in Panama and Colombia and South Korea -- while also
Dialogue: 0,0:21:30.08,0:21:33.05,Default,,0000,0000,0000,,helping the workers whose jobs have been affected by
Dialogue: 0,0:21:33.05,0:21:34.05,Default,,0000,0000,0000,,global competition.
Dialogue: 0,0:21:34.05,0:21:44.10,Default,,0000,0000,0000,,(applause)
Dialogue: 0,0:21:44.10,0:21:47.07,Default,,0000,0000,0000,,If Americans can buy Kias and Hyundais,
Dialogue: 0,0:21:47.07,0:21:50.08,Default,,0000,0000,0000,,I want to see folks in South Korea driving Fords and Chevys
Dialogue: 0,0:21:50.08,0:21:51.09,Default,,0000,0000,0000,,and Chryslers.
Dialogue: 0,0:21:51.09,0:21:52.08,Default,,0000,0000,0000,,(applause)
Dialogue: 0,0:21:52.08,0:21:56.05,Default,,0000,0000,0000,,I want to see more products sold around the world stamped with
Dialogue: 0,0:21:56.05,0:21:59.04,Default,,0000,0000,0000,,the three proud words: "Made in America."
Dialogue: 0,0:21:59.04,0:22:00.08,Default,,0000,0000,0000,,That's what we need to get done.
Dialogue: 0,0:22:00.08,0:22:13.09,Default,,0000,0000,0000,,(applause)
Dialogue: 0,0:22:13.09,0:22:18.03,Default,,0000,0000,0000,,And on all of our efforts to strengthen competitiveness,
Dialogue: 0,0:22:18.03,0:22:20.06,Default,,0000,0000,0000,,we need to look for ways to work side by side with
Dialogue: 0,0:22:20.06,0:22:22.06,Default,,0000,0000,0000,,America's businesses.
Dialogue: 0,0:22:22.06,0:22:24.08,Default,,0000,0000,0000,,That's why I've brought together a Jobs Council of leaders from
Dialogue: 0,0:22:24.08,0:22:27.06,Default,,0000,0000,0000,,different industries who are developing a wide range of new
Dialogue: 0,0:22:27.06,0:22:31.09,Default,,0000,0000,0000,,ideas to help companies grow and create jobs.
Dialogue: 0,0:22:31.09,0:22:33.09,Default,,0000,0000,0000,,Already, we've mobilized business leaders to train
Dialogue: 0,0:22:33.09,0:22:37.08,Default,,0000,0000,0000,,10,000 American engineers a year, by providing company
Dialogue: 0,0:22:37.08,0:22:40.03,Default,,0000,0000,0000,,internships and training.
Dialogue: 0,0:22:40.03,0:22:42.07,Default,,0000,0000,0000,,Other businesses are covering tuition for workers who learn
Dialogue: 0,0:22:42.07,0:22:44.07,Default,,0000,0000,0000,,new skills at community colleges.
Dialogue: 0,0:22:44.07,0:22:48.03,Default,,0000,0000,0000,,And we're going to make sure the next generation of manufacturing
Dialogue: 0,0:22:48.03,0:22:51.06,Default,,0000,0000,0000,,takes root not in China or Europe, but right here,
Dialogue: 0,0:22:51.06,0:22:52.08,Default,,0000,0000,0000,,in the United States of America.
Dialogue: 0,0:22:52.08,0:23:07.06,Default,,0000,0000,0000,,(applause)
Dialogue: 0,0:23:07.06,0:23:09.05,Default,,0000,0000,0000,,If we provide the right incentives,
Dialogue: 0,0:23:09.05,0:23:12.06,Default,,0000,0000,0000,,the right support -- and if we make sure our trading partners
Dialogue: 0,0:23:12.06,0:23:16.05,Default,,0000,0000,0000,,play by the rules -- we can be the ones to build everything
Dialogue: 0,0:23:16.05,0:23:19.06,Default,,0000,0000,0000,,from fuel-efficient cars to advanced biofuels to
Dialogue: 0,0:23:19.06,0:23:23.06,Default,,0000,0000,0000,,semiconductors that we sell all around the world.
Dialogue: 0,0:23:23.06,0:23:26.07,Default,,0000,0000,0000,,That's how America can be number one again.
Dialogue: 0,0:23:26.07,0:23:29.03,Default,,0000,0000,0000,,And that's how America will be number one again.
Dialogue: 0,0:23:29.03,0:23:35.03,Default,,0000,0000,0000,,(applause)
Dialogue: 0,0:23:35.03,0:23:39.08,Default,,0000,0000,0000,,Now, I realize that some of you have a different theory on how
Dialogue: 0,0:23:39.08,0:23:42.03,Default,,0000,0000,0000,,to grow the economy.
Dialogue: 0,0:23:42.03,0:23:45.01,Default,,0000,0000,0000,,Some of you sincerely believe that the only solution to our
Dialogue: 0,0:23:45.01,0:23:49.02,Default,,0000,0000,0000,,economic challenges is to simply cut most government spending and
Dialogue: 0,0:23:49.02,0:23:51.01,Default,,0000,0000,0000,,eliminate most government regulations.
Dialogue: 0,0:23:51.01,0:24:03.02,Default,,0000,0000,0000,,(applause)
Dialogue: 0,0:24:03.02,0:24:06.07,Default,,0000,0000,0000,,Well, I agree that we can't afford wasteful spending,
Dialogue: 0,0:24:06.07,0:24:11.08,Default,,0000,0000,0000,,and I'll work with you, with Congress, to root it out.
Dialogue: 0,0:24:11.08,0:24:15.00,Default,,0000,0000,0000,,And I agree that there are some rules and regulations that do
Dialogue: 0,0:24:15.00,0:24:17.09,Default,,0000,0000,0000,,put an unnecessary burden on businesses at a time when they
Dialogue: 0,0:24:17.09,0:24:18.09,Default,,0000,0000,0000,,can least afford it.
Dialogue: 0,0:24:18.09,0:24:24.04,Default,,0000,0000,0000,,(applause)
Dialogue: 0,0:24:24.04,0:24:28.02,Default,,0000,0000,0000,,That's why I ordered a review of all government regulations.
Dialogue: 0,0:24:28.02,0:24:31.00,Default,,0000,0000,0000,,So far, we've identified over 500 reforms,
Dialogue: 0,0:24:31.00,0:24:34.04,Default,,0000,0000,0000,,which will save billions of dollars over the next few years.
Dialogue: 0,0:24:34.04,0:24:34.09,Default,,0000,0000,0000,,(applause)
Dialogue: 0,0:24:34.09,0:24:39.02,Default,,0000,0000,0000,,We should have no more regulation than the health,
Dialogue: 0,0:24:39.02,0:24:42.02,Default,,0000,0000,0000,,safety and security of the American people require.
Dialogue: 0,0:24:42.02,0:24:44.06,Default,,0000,0000,0000,,Every rule should meet that common-sense test.
Dialogue: 0,0:24:44.06,0:24:50.06,Default,,0000,0000,0000,,(applause)
Dialogue: 0,0:24:50.06,0:24:56.03,Default,,0000,0000,0000,,But what we can't do -- what I will not do -- is let this
Dialogue: 0,0:24:56.03,0:25:00.01,Default,,0000,0000,0000,,economic crisis be used as an excuse to wipe out the basic
Dialogue: 0,0:25:00.01,0:25:03.04,Default,,0000,0000,0000,,protections that Americans have counted on for decades.
Dialogue: 0,0:25:03.04,0:25:15.05,Default,,0000,0000,0000,,(applause)
Dialogue: 0,0:25:15.05,0:25:19.01,Default,,0000,0000,0000,,I reject the idea that we need to ask people to choose between
Dialogue: 0,0:25:19.01,0:25:21.05,Default,,0000,0000,0000,,their jobs and their safety.
Dialogue: 0,0:25:21.05,0:25:24.07,Default,,0000,0000,0000,,I reject the argument that says for the economy to grow,
Dialogue: 0,0:25:24.07,0:25:27.02,Default,,0000,0000,0000,,we have to roll back protections that ban hidden fees by credit
Dialogue: 0,0:25:27.02,0:25:30.03,Default,,0000,0000,0000,,card companies, or rules that keep our kids from being exposed
Dialogue: 0,0:25:30.03,0:25:33.03,Default,,0000,0000,0000,,to mercury, or laws that prevent the health insurance industry
Dialogue: 0,0:25:33.03,0:25:35.09,Default,,0000,0000,0000,,from shortchanging patients.
Dialogue: 0,0:25:35.09,0:25:38.00,Default,,0000,0000,0000,,I reject the idea that we have to strip away collective
Dialogue: 0,0:25:38.00,0:25:40.03,Default,,0000,0000,0000,,bargaining rights to compete in a global economy.
Dialogue: 0,0:25:40.03,0:25:55.02,Default,,0000,0000,0000,,(applause)
Dialogue: 0,0:25:55.02,0:25:57.09,Default,,0000,0000,0000,,We shouldn't be in a race to the bottom,
Dialogue: 0,0:25:57.09,0:26:00.06,Default,,0000,0000,0000,,where we try to offer the cheapest labor and the worst
Dialogue: 0,0:26:00.06,0:26:02.07,Default,,0000,0000,0000,,pollution standards.
Dialogue: 0,0:26:02.07,0:26:04.08,Default,,0000,0000,0000,,America should be in a race to the top.
Dialogue: 0,0:26:04.08,0:26:06.04,Default,,0000,0000,0000,,And I believe we can win that race.
Dialogue: 0,0:26:06.04,0:26:16.03,Default,,0000,0000,0000,,(applause)
Dialogue: 0,0:26:16.03,0:26:18.05,Default,,0000,0000,0000,,In fact, this larger notion that the only thing we can
Dialogue: 0,0:26:18.05,0:26:20.09,Default,,0000,0000,0000,,do to restore prosperity is just dismantle government,
Dialogue: 0,0:26:20.09,0:26:24.00,Default,,0000,0000,0000,,refund everybody's money, and let everyone write their own
Dialogue: 0,0:26:24.00,0:26:27.03,Default,,0000,0000,0000,,rules, and tell everyone they're on their own --
Dialogue: 0,0:26:27.03,0:26:30.03,Default,,0000,0000,0000,,that's not who we are.
Dialogue: 0,0:26:30.03,0:26:33.06,Default,,0000,0000,0000,,That's not the story of America.
Dialogue: 0,0:26:33.06,0:26:36.09,Default,,0000,0000,0000,,Yes, we are rugged individualists.
Dialogue: 0,0:26:36.09,0:26:39.06,Default,,0000,0000,0000,,Yes, we are strong and self-reliant.
Dialogue: 0,0:26:39.06,0:26:42.03,Default,,0000,0000,0000,,And it has been the drive and initiative of our workers and
Dialogue: 0,0:26:42.03,0:26:45.05,Default,,0000,0000,0000,,entrepreneurs that has made this economy the engine and the envy
Dialogue: 0,0:26:45.05,0:26:47.03,Default,,0000,0000,0000,,of the world.
Dialogue: 0,0:26:47.03,0:26:50.01,Default,,0000,0000,0000,,But there's always been another thread running throughout our
Dialogue: 0,0:26:50.01,0:26:53.09,Default,,0000,0000,0000,,history -- a belief that we're all connected,
Dialogue: 0,0:26:53.09,0:26:56.08,Default,,0000,0000,0000,,and that there are some things we can only do together,
Dialogue: 0,0:26:56.08,0:26:58.05,Default,,0000,0000,0000,,as a nation.
Dialogue: 0,0:26:58.05,0:27:01.01,Default,,0000,0000,0000,,We all remember Abraham Lincoln as the leader who
Dialogue: 0,0:27:01.01,0:27:03.02,Default,,0000,0000,0000,,saved our Union.
Dialogue: 0,0:27:03.02,0:27:06.03,Default,,0000,0000,0000,,Founder of the Republican Party.
Dialogue: 0,0:27:06.03,0:27:08.09,Default,,0000,0000,0000,,But in the middle of a civil war,
Dialogue: 0,0:27:08.09,0:27:13.02,Default,,0000,0000,0000,,he was also a leader who looked to the future -- a Republican
Dialogue: 0,0:27:13.02,0:27:15.05,Default,,0000,0000,0000,,President who mobilized government to build the
Dialogue: 0,0:27:15.05,0:27:16.07,Default,,0000,0000,0000,,Transcontinental Railroad --
Dialogue: 0,0:27:16.07,0:27:17.06,Default,,0000,0000,0000,,(applause)
Dialogue: 0,0:27:17.06,0:27:20.00,Default,,0000,0000,0000,,-- launch the National Academy of Sciences,
Dialogue: 0,0:27:20.00,0:27:22.00,Default,,0000,0000,0000,,set up the first land grant colleges.
Dialogue: 0,0:27:22.00,0:27:23.03,Default,,0000,0000,0000,,(applause)
Dialogue: 0,0:27:23.03,0:27:29.01,Default,,0000,0000,0000,,And leaders of both parties have followed the example he set.
Dialogue: 0,0:27:29.01,0:27:32.05,Default,,0000,0000,0000,,Ask yourselves -- where would we be right now if the people who
Dialogue: 0,0:27:32.05,0:27:36.00,Default,,0000,0000,0000,,sat here before us decided not to build our highways,
Dialogue: 0,0:27:36.00,0:27:40.01,Default,,0000,0000,0000,,not to build our bridges, our dams, our airports?
Dialogue: 0,0:27:40.01,0:27:43.01,Default,,0000,0000,0000,,What would this country be like if we had chosen not to spend
Dialogue: 0,0:27:43.01,0:27:48.01,Default,,0000,0000,0000,,money on public high schools, or research universities,
Dialogue: 0,0:27:48.01,0:27:51.01,Default,,0000,0000,0000,,or community colleges?
Dialogue: 0,0:27:51.01,0:27:53.07,Default,,0000,0000,0000,,Millions of returning heroes, including my grandfather,
Dialogue: 0,0:27:53.07,0:27:56.08,Default,,0000,0000,0000,,had the opportunity to go to school because of the G.I. Bill.
Dialogue: 0,0:27:56.08,0:27:59.02,Default,,0000,0000,0000,,Where would we be if they hadn't had that chance?
Dialogue: 0,0:27:59.02,0:28:16.00,Default,,0000,0000,0000,,(applause)
Dialogue: 0,0:28:16.00,0:28:19.08,Default,,0000,0000,0000,,How many jobs would it have cost us if past Congresses decided
Dialogue: 0,0:28:19.08,0:28:22.01,Default,,0000,0000,0000,,not to support the basic research that led to the
Dialogue: 0,0:28:22.01,0:28:24.08,Default,,0000,0000,0000,,Internet and the computer chip?
Dialogue: 0,0:28:24.08,0:28:28.04,Default,,0000,0000,0000,,What kind of country would this be if this chamber had voted
Dialogue: 0,0:28:28.04,0:28:32.02,Default,,0000,0000,0000,,down Social Security or Medicare just because it violated some
Dialogue: 0,0:28:32.02,0:28:35.02,Default,,0000,0000,0000,,rigid idea about what government could or could not do?
Dialogue: 0,0:28:35.02,0:28:35.09,Default,,0000,0000,0000,,(applause)
Dialogue: 0,0:28:35.09,0:28:41.01,Default,,0000,0000,0000,,How many Americans would have suffered as a result?
Dialogue: 0,0:28:41.01,0:28:44.08,Default,,0000,0000,0000,,No single individual built America on their own.
Dialogue: 0,0:28:44.08,0:28:47.06,Default,,0000,0000,0000,,We built it together.
Dialogue: 0,0:28:47.06,0:28:52.02,Default,,0000,0000,0000,,We have been, and always will be, one nation, under God,
Dialogue: 0,0:28:52.02,0:28:54.08,Default,,0000,0000,0000,,indivisible, with liberty and justice for all;
Dialogue: 0,0:28:54.08,0:28:58.07,Default,,0000,0000,0000,,a nation with responsibilities to ourselves and with
Dialogue: 0,0:28:58.07,0:29:00.08,Default,,0000,0000,0000,,responsibilities to one another.
Dialogue: 0,0:29:00.08,0:29:03.01,Default,,0000,0000,0000,,And members of Congress, it is time for us to meet
Dialogue: 0,0:29:03.01,0:29:04.05,Default,,0000,0000,0000,,our responsibilities.
Dialogue: 0,0:29:04.05,0:29:25.05,Default,,0000,0000,0000,,(applause)
Dialogue: 0,0:29:25.05,0:29:28.03,Default,,0000,0000,0000,,Every proposal I've laid out tonight is the kind that's
Dialogue: 0,0:29:28.03,0:29:32.08,Default,,0000,0000,0000,,been supported by Democrats and Republicans in the past.
Dialogue: 0,0:29:32.08,0:29:36.02,Default,,0000,0000,0000,,Every proposal I've laid out tonight will be paid for.
Dialogue: 0,0:29:36.02,0:29:39.06,Default,,0000,0000,0000,,And every proposal is designed to meet the urgent needs of our
Dialogue: 0,0:29:39.06,0:29:42.02,Default,,0000,0000,0000,,people and our communities.
Dialogue: 0,0:29:42.02,0:29:45.02,Default,,0000,0000,0000,,Now, I know there's been a lot of skepticism about whether the
Dialogue: 0,0:29:45.02,0:29:48.01,Default,,0000,0000,0000,,politics of the moment will allow us to pass this jobs
Dialogue: 0,0:29:48.01,0:29:51.05,Default,,0000,0000,0000,,plan -- or any jobs plan.
Dialogue: 0,0:29:51.05,0:29:54.04,Default,,0000,0000,0000,,Already, we're seeing the same old press releases and tweets
Dialogue: 0,0:29:54.04,0:29:56.08,Default,,0000,0000,0000,,flying back and forth.
Dialogue: 0,0:29:56.08,0:29:59.00,Default,,0000,0000,0000,,Already, the media has proclaimed that it's impossible
Dialogue: 0,0:29:59.00,0:30:01.03,Default,,0000,0000,0000,,to bridge our differences.
Dialogue: 0,0:30:01.03,0:30:03.07,Default,,0000,0000,0000,,And maybe some of you have decided that those differences
Dialogue: 0,0:30:03.07,0:30:08.08,Default,,0000,0000,0000,,are so great that we can only resolve them at the ballot box.
Dialogue: 0,0:30:08.08,0:30:14.08,Default,,0000,0000,0000,,But know this: The next election is 14 months away.
Dialogue: 0,0:30:14.08,0:30:18.07,Default,,0000,0000,0000,,And the people who sent us here -- the people who hired us to
Dialogue: 0,0:30:18.07,0:30:23.06,Default,,0000,0000,0000,,work for them -- they don't have the luxury of waiting 14 months.
Dialogue: 0,0:30:23.06,0:30:45.04,Default,,0000,0000,0000,,(applause)
Dialogue: 0,0:30:45.04,0:30:49.06,Default,,0000,0000,0000,,Some of them are living week to week, paycheck to paycheck,
Dialogue: 0,0:30:49.06,0:30:51.00,Default,,0000,0000,0000,,even day to day.
Dialogue: 0,0:30:51.00,0:30:54.08,Default,,0000,0000,0000,,They need help, and they need it now.
Dialogue: 0,0:30:54.08,0:30:59.00,Default,,0000,0000,0000,,I don't pretend that this plan will solve all our problems.
Dialogue: 0,0:30:59.00,0:31:01.03,Default,,0000,0000,0000,,It should not be, nor will it be,
Dialogue: 0,0:31:01.03,0:31:04.05,Default,,0000,0000,0000,,the last plan of action we propose.
Dialogue: 0,0:31:04.05,0:31:07.05,Default,,0000,0000,0000,,What's guided us from the start of this crisis hasn't been the
Dialogue: 0,0:31:07.05,0:31:09.07,Default,,0000,0000,0000,,search for a silver bullet.
Dialogue: 0,0:31:09.07,0:31:13.00,Default,,0000,0000,0000,,It's been a commitment to stay at it -- to be persistent --
Dialogue: 0,0:31:13.00,0:31:15.09,Default,,0000,0000,0000,,to keep trying every new idea that works,
Dialogue: 0,0:31:15.09,0:31:17.06,Default,,0000,0000,0000,,and listen to every good proposal,
Dialogue: 0,0:31:17.06,0:31:21.02,Default,,0000,0000,0000,,no matter which party comes up with it.
Dialogue: 0,0:31:21.02,0:31:24.03,Default,,0000,0000,0000,,Regardless of the arguments we've had in the past,
Dialogue: 0,0:31:24.03,0:31:27.01,Default,,0000,0000,0000,,regardless of the arguments we will have in the future,
Dialogue: 0,0:31:27.01,0:31:29.08,Default,,0000,0000,0000,,this plan is the right thing to do right now.
Dialogue: 0,0:31:29.08,0:31:30.10,Default,,0000,0000,0000,,You should pass it.
Dialogue: 0,0:31:30.10,0:31:33.07,Default,,0000,0000,0000,,And I intend to take that message to every corner
Dialogue: 0,0:31:33.07,0:31:34.05,Default,,0000,0000,0000,,of this country.
Dialogue: 0,0:31:34.05,0:31:46.01,Default,,0000,0000,0000,,(applause)
Dialogue: 0,0:31:46.01,0:31:50.09,Default,,0000,0000,0000,,And I ask -- I ask every American who agrees to lift
Dialogue: 0,0:31:50.09,0:31:56.00,Default,,0000,0000,0000,,your voice: Tell the people who are gathered here tonight that
Dialogue: 0,0:31:56.00,0:31:57.09,Default,,0000,0000,0000,,you want action now.
Dialogue: 0,0:31:57.09,0:32:01.01,Default,,0000,0000,0000,,Tell Washington that doing nothing is not an option.
Dialogue: 0,0:32:01.01,0:32:04.03,Default,,0000,0000,0000,,Remind us that if we act as one nation and one people,
Dialogue: 0,0:32:04.03,0:32:08.02,Default,,0000,0000,0000,,we have it within our power to meet this challenge.
Dialogue: 0,0:32:08.02,0:32:12.01,Default,,0000,0000,0000,,President Kennedy once said, "Our problems are man-made --
Dialogue: 0,0:32:12.01,0:32:14.04,Default,,0000,0000,0000,,therefore they can be solved by man.
Dialogue: 0,0:32:14.04,0:32:18.04,Default,,0000,0000,0000,,And man can be as big as he wants."
Dialogue: 0,0:32:18.04,0:32:20.01,Default,,0000,0000,0000,,These are difficult years for our country.
Dialogue: 0,0:32:20.01,0:32:21.06,Default,,0000,0000,0000,,But we are Americans.
Dialogue: 0,0:32:21.06,0:32:23.08,Default,,0000,0000,0000,,We are tougher than the times we live in,
Dialogue: 0,0:32:23.08,0:32:26.04,Default,,0000,0000,0000,,and we are bigger than our politics have been.
Dialogue: 0,0:32:26.04,0:32:28.02,Default,,0000,0000,0000,,So let's meet the moment.
Dialogue: 0,0:32:28.02,0:32:31.07,Default,,0000,0000,0000,,Let's get to work, and let's show the world once again why
Dialogue: 0,0:32:31.07,0:32:33.02,Default,,0000,0000,0000,,the United States of America remains the
Dialogue: 0,0:32:33.02,0:32:34.03,Default,,0000,0000,0000,,greatest nation on Earth.
Dialogue: 0,0:32:34.03,0:32:34.07,Default,,0000,0000,0000,,(applause)
Dialogue: 0,0:32:34.07,0:32:36.00,Default,,0000,0000,0000,,Thank you very much.
Dialogue: 0,0:32:36.00,0:32:39.08,Default,,0000,0000,0000,,God bless you, and God bless the United States of America.
Dialogue: 0,0:32:39.08,9:59:59.99,Default,,0000,0000,0000,,(applause)