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President Obama Presents American Jobs Act (Enhanced Version)
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0:00 - 0:07President Obama: Mr. Speaker, Mr. Vice President, members of Congress,
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0:07 - 0:13and fellow Americans: Tonight we meet at an urgent time
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0:13 - 0:15for our country.
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0:15 - 0:19We continue to face an economic crisis that has left millions of
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0:19 - 0:24our neighbors jobless, and a political crisis that's made
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0:24 - 0:27things worse.
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0:27 - 0:29This past week, reporters have been asking,
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0:29 - 0:33"What will this speech mean for the President?
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0:33 - 0:35What will it mean for Congress?
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0:35 - 0:41How will it affect their polls, and the next election?"
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0:41 - 0:45But the millions of Americans who are watching right now,
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0:45 - 0:48they don't care about politics.
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0:48 - 0:51They have real-life concerns.
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0:51 - 0:55Many have spent months looking for work.
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0:55 - 0:58Others are doing their best just to scrape by -- giving up nights
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0:58 - 1:02out with the family to save on gas or make the mortgage;
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1:02 - 1:07postponing retirement to send a kid to college.
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1:07 - 1:12These men and women grew up with faith in an America where hard
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1:12 - 1:16work and responsibility paid off.
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1:16 - 1:20They believed in a country where everyone gets a fair shake and
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1:20 - 1:25does their fair share -- where if you stepped up, did your job,
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1:25 - 1:29and were loyal to your company, that loyalty would be rewarded
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1:29 - 1:32with a decent salary and good benefits;
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1:32 - 1:35maybe a raise once in a while.
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1:35 - 1:38If you did the right thing, you could make it.
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1:38 - 1:41Anybody could make it in America.
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1:41 - 1:48For decades now, Americans have watched that compact erode.
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1:48 - 1:53They have seen the decks too often stacked against them.
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1:53 - 1:55And they know that Washington has not always put their
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1:55 - 1:59interests first.
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1:59 - 2:01The people of this country work hard
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2:01 - 2:03to meet their responsibilities.
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2:03 - 2:09The question tonight is whether we'll meet ours.
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2:09 - 2:12The question is whether, in the face of an ongoing national
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2:12 - 2:16crisis, we can stop the political circus and actually
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2:16 - 2:18do something to help the economy.
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2:18 - 2:35(applause)
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2:35 - 2:38The question -- the question is whether we can restore some
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2:38 - 2:43of the fairness and security that has defined this nation
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2:43 - 2:46since our beginning.
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2:46 - 2:51Those of us here tonight can't solve all our nation's woes.
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2:51 - 2:54Ultimately, our recovery will be driven not by Washington,
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2:54 - 2:58but by our businesses and our workers.
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2:58 - 3:01But we can help.
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3:01 - 3:03We can make a difference.
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3:03 - 3:06There are steps we can take right now to improve
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3:06 - 3:10people's lives.
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3:10 - 3:13I am sending this Congress a plan that you should pass
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3:13 - 3:15right away.
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3:15 - 3:18It's called the American Jobs Act.
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3:18 - 3:21There should be nothing controversial about this
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3:21 - 3:22piece of legislation.
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3:22 - 3:25Everything in here is the kind of proposal that's been
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3:25 - 3:29supported by both Democrats and Republicans -- including
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3:29 - 3:32many who sit here tonight.
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3:32 - 3:35And everything in this bill will be paid for.
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3:35 - 3:36Everything.
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3:36 - 3:45(applause)
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3:45 - 3:49The purpose of the American Jobs Act is simple: to put more
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3:49 - 3:52people back to work and more money in the pockets of those
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3:52 - 3:54who are working.
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3:54 - 3:56It will create more jobs for construction workers,
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3:56 - 3:59more jobs for teachers, more jobs for veterans,
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3:59 - 4:01and more jobs for long-term unemployed.
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4:01 - 4:02(applause)
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4:02 - 4:06It will provide -- it will provide a tax break for
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4:06 - 4:09companies who hire new workers, and it will cut payroll taxes in
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4:09 - 4:14half for every working American and every small business.
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4:14 - 4:20(applause)
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4:20 - 4:25It will provide a jolt to an economy that has stalled,
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4:25 - 4:27and give companies confidence that if they invest and if they
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4:27 - 4:31hire, there will be customers for their products and services.
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4:31 - 4:34You should pass this jobs plan right away.
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4:34 - 4:40(applause)
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4:40 - 4:44Everyone here knows that small businesses are where most new
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4:44 - 4:46jobs begin.
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4:46 - 4:48And you know that while corporate profits have come
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4:48 - 4:52roaring back, smaller companies haven't.
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4:52 - 4:55So for everyone who speaks so passionately about making life
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4:55 - 4:59easier for "job creators," this plan is for you.
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4:59 - 5:00(applause)
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5:00 - 5:04Pass this jobs bill -- pass this jobs bill,
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5:04 - 5:07and starting tomorrow, small businesses will get a tax cut
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5:07 - 5:11if they hire new workers or if they raise workers' wages.
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5:11 - 5:14Pass this jobs bill, and all small business owners will also
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5:14 - 5:17see their payroll taxes cut in half next year.
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5:17 - 5:18(applause)
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5:18 - 5:22If you have 50 employees -- if you have 50 employees making an
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5:22 - 5:26average salary, that's an $80,000 tax cut.
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5:26 - 5:28And all businesses will be able to continue writing off the
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5:28 - 5:32investments they make in 2012.
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5:32 - 5:35It's not just Democrats who have supported this kind of proposal.
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5:35 - 5:39Fifty House Republicans have proposed the same payroll tax
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5:39 - 5:40cut that's in this plan.
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5:40 - 5:42You should pass it right away.
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5:42 - 5:50(applause)
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5:50 - 5:53Pass this jobs bill, and we can put people to work
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5:53 - 5:55rebuilding America.
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5:55 - 5:58Everyone here knows we have badly decaying roads and bridges
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5:58 - 6:01all over the country.
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6:01 - 6:03Our highways are clogged with traffic.
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6:03 - 6:07Our skies are the most congested in the world.
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6:07 - 6:09It's an outrage.
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6:09 - 6:12Building a world-class transportation system is
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6:12 - 6:15part of what made us a economic superpower.
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6:15 - 6:17And now we're going to sit back and watch China build newer
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6:17 - 6:20airports and faster railroads?
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6:20 - 6:22At a time when millions of unemployed construction
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6:22 - 6:25workers could build them right here in America?
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6:25 - 6:44(applause)
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6:44 - 6:48There are private construction companies all across America
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6:48 - 6:51just waiting to get to work.
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6:51 - 6:54There's a bridge that needs repair between Ohio and Kentucky
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6:54 - 6:56that's on one of the busiest trucking routes
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6:56 - 6:58in North America.
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6:58 - 7:01A public transit project in Houston that will help clear
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7:01 - 7:04up one of the worst areas of traffic in the country.
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7:04 - 7:08And there are schools throughout this country that desperately
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7:08 - 7:10need renovating.
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7:10 - 7:13How can we expect our kids to do their best in places that
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7:13 - 7:16are literally falling apart?
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7:16 - 7:18This is America.
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7:18 - 7:21Every child deserves a great school -- and we can give it
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7:21 - 7:22to them, if we act now.
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7:22 - 7:37(applause)
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7:37 - 7:40The American Jobs Act will repair and modernize at least
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7:40 - 7:4235,000 schools.
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7:42 - 7:46It will put people to work right now fixing roofs and windows,
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7:46 - 7:48installing science labs and high-speed Internet
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7:48 - 7:51in classrooms all across this country.
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7:51 - 7:54It will rehabilitate homes and businesses in communities hit
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7:54 - 7:57hardest by foreclosures.
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7:57 - 7:59It will jumpstart thousands of transportation projects
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7:59 - 8:01all across the country.
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8:01 - 8:04And to make sure the money is properly spent,
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8:04 - 8:07we're building on reforms we've already put in place.
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8:07 - 8:09No more earmarks.
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8:09 - 8:11No more boondoggles.
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8:11 - 8:14No more bridges to nowhere.
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8:14 - 8:17We're cutting the red tape that prevents some of these projects
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8:17 - 8:19from getting started as quickly as possible.
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8:19 - 8:23And we'll set up an independent fund to attract private dollars
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8:23 - 8:27and issue loans based on two criteria: how badly a
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8:27 - 8:30construction project is needed and how much good it will do
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8:30 - 8:31for the economy.
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8:31 - 8:39(applause)
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8:39 - 8:42This idea came from a bill written by a Texas Republican
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8:42 - 8:45and a Massachusetts Democrat.
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8:45 - 8:48The idea for a big boost in construction is supported by
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8:48 - 8:51America's largest business organization and America's
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8:51 - 8:54largest labor organization.
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8:54 - 8:57It's the kind of proposal that's been supported in the past by
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8:57 - 9:00Democrats and Republicans alike.
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9:00 - 9:01You should pass it right away.
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9:01 - 9:14(applause)
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9:14 - 9:17Pass this jobs bill, and thousands of teachers in
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9:17 - 9:20every state will go back to work.
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9:20 - 9:22These are the men and women charged with preparing our
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9:22 - 9:25children for a world where the competition has never
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9:25 - 9:27been tougher.
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9:27 - 9:29But while they're adding teachers in places like South
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9:29 - 9:34Korea, we're laying them off in droves.
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9:34 - 9:36It's unfair to our kids.
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9:36 - 9:38It undermines their future and ours.
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9:38 - 9:40And it has to stop.
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9:40 - 9:43Pass this bill, and put our teachers back in the classroom
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9:43 - 9:44where they belong.
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9:44 - 9:58(applause)
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9:58 - 10:01Pass this jobs bill, and companies will get extra tax
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10:01 - 10:05credits if they hire America's veterans.
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10:05 - 10:08We ask these men and women to leave their careers,
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10:08 - 10:14leave their families, risk their lives to fight for our country.
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10:14 - 10:17The last thing they should have to do is fight for a job when
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10:17 - 10:18they come home.
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10:18 - 10:38(applause)
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10:38 - 10:41Pass this bill, and hundreds of thousands of disadvantaged young
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10:41 - 10:44people will have the hope and the dignity of a summer
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10:44 - 10:46job next year.
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10:46 - 10:46And their parents --
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10:46 - 10:48(applause)
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10:48 - 10:51-- their parents, low-income Americans who desperately want
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10:51 - 10:55to work, will have more ladders out of poverty.
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10:55 - 10:59Pass this jobs bill, and companies will get a $4,000
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10:59 - 11:01tax credit if they hire anyone who has spent more
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11:01 - 11:03than six months looking for a job.
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11:03 - 11:10(applause)
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11:10 - 11:14We have to do more to help the long-term unemployed in their
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11:14 - 11:15search for work.
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11:15 - 11:18This jobs plan builds on a program in Georgia that several
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11:18 - 11:20Republican leaders have highlighted,
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11:20 - 11:22where people who collect unemployment insurance
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11:22 - 11:26participate in temporary work as a way to build their skills
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11:26 - 11:28while they look for a permanent job.
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11:28 - 11:30The plan also extends unemployment insurance
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11:30 - 11:31for another year.
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11:31 - 11:32(applause)
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11:32 - 11:36If the millions of unemployed Americans stopped getting this
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11:36 - 11:39insurance, and stopped using that money for basic
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11:39 - 11:41necessities, it would be a devastating blow
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11:41 - 11:43to this economy.
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11:43 - 11:45Democrats and Republicans in this chamber have supported
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11:45 - 11:48unemployment insurance plenty of times in the past.
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11:48 - 11:51And in this time of prolonged hardship,
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11:51 - 11:52you should pass it again -- right away.
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11:52 - 11:59(applause)
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11:59 - 12:02Pass this jobs bill, and the typical working family will
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12:02 - 12:06get a $1,500 tax cut next year.
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12:06 - 12:09Fifteen hundred dollars that would have been taken out of
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12:09 - 12:14your pocket will go into your pocket.
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12:14 - 12:16This expands on the tax cut that Democrats and Republicans
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12:16 - 12:19already passed for this year.
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12:19 - 12:23If we allow that tax cut to expire -- if we refuse to act --
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12:23 - 12:27middle-class families will get hit with a tax increase at the
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12:27 - 12:29worst possible time.
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12:29 - 12:31We can't let that happen.
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12:31 - 12:34I know that some of you have sworn oaths to never raise any
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12:34 - 12:37taxes on anyone for as long as you live.
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12:37 - 12:40Now is not the time to carve out an exception and raise
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12:40 - 12:42middle-class taxes, which is why you should pass this
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12:42 - 12:43bill right away.
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12:43 - 12:57(applause)
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12:57 - 13:00This is the American Jobs Act.
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13:00 - 13:03It will lead to new jobs for construction workers,
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13:03 - 13:05for teachers, for veterans, for first responders,
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13:05 - 13:08young people and the long-term unemployed.
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13:08 - 13:11It will provide tax credits to companies that hire new workers,
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13:11 - 13:13tax relief to small business owners,
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13:13 - 13:16and tax cuts for the middle class.
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13:16 - 13:18And here's the other thing I want the American people to
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13:18 - 13:21know: The American Jobs Act will not add to the deficit.
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13:21 - 13:23It will be paid for.
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13:23 - 13:24And here's how.
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13:24 - 13:27(applause)
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13:27 - 13:31The agreement we passed in July will cut government spending by
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13:31 - 13:34about $1 trillion over the next 10 years.
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13:34 - 13:37It also charges this Congress to come up with an additional
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13:37 - 13:41$1.5 trillion in savings by Christmas.
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13:41 - 13:44Tonight, I am asking you to increase that amount so that
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13:44 - 13:46it covers the full cost of the American Jobs Act.
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13:46 - 13:50And a week from Monday, I'll be releasing a more ambitious
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13:50 - 13:53deficit plan -- a plan that will not only cover the cost of this
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13:53 - 13:57jobs bill, but stabilize our debt in the long run.
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13:57 - 14:06(applause)
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14:06 - 14:08This approach is basically the one I've been advocating
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14:08 - 14:10for months.
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14:10 - 14:12In addition to the trillion dollars of spending cuts I've
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14:12 - 14:16already signed into law, it's a balanced plan that would reduce
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14:16 - 14:19the deficit by making additional spending cuts,
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14:19 - 14:22by making modest adjustments to health care programs like
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14:22 - 14:26Medicare and Medicaid, and by reforming our tax code in a way
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14:26 - 14:29that asks the wealthiest Americans and biggest
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14:29 - 14:31corporations to pay their fair share.
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14:31 - 14:39(applause)
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14:39 - 14:41What's more, the spending cuts wouldn't happen so abruptly that
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14:41 - 14:45they'd be a drag on our economy, or prevent us from helping small
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14:45 - 14:47businesses and middle-class families get back on their
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14:47 - 14:50feet right away.
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14:50 - 14:52Now, I realize there are some in my party who don't think we
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14:52 - 14:55should make any changes at all to Medicare and Medicaid,
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14:55 - 14:58and I understand their concerns.
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14:58 - 15:02But here's the truth: Millions of Americans rely on Medicare
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15:02 - 15:04in their retirement.
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15:04 - 15:07And millions more will do so in the future.
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15:07 - 15:09They pay for this benefit during their working years.
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15:09 - 15:11They earn it.
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15:11 - 15:14But with an aging population and rising health care costs,
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15:14 - 15:17we are spending too fast to sustain the program.
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15:17 - 15:20And if we don't gradually reform the system while protecting
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15:20 - 15:24current beneficiaries, it won't be there when future
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15:24 - 15:26retirees need it.
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15:26 - 15:28We have to reform Medicare to strengthen it.
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15:28 - 15:46(applause)
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15:46 - 15:48I am also -- I'm also well aware that there are many Republicans
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15:48 - 15:50who don't believe we should raise taxes on those who are
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15:50 - 15:54most fortunate and can best afford it.
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15:54 - 15:58But here is what every American knows: While most people in this
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15:58 - 16:01country struggle to make ends meet,
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16:01 - 16:04a few of the most affluent citizens and most profitable
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16:04 - 16:07corporations enjoy tax breaks and loopholes that
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16:07 - 16:10nobody else gets.
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16:10 - 16:12Right now, Warren Buffett pays a lower tax rate than
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16:12 - 16:16his secretary -- an outrage he has asked us to fix.
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16:16 - 16:18(laughter)
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16:18 - 16:24We need a tax code where everyone gets a fair shake
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16:24 - 16:25and where everybody pays their fair share.
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16:25 - 16:39(applause)
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16:39 - 16:42And by the way, I believe the vast majority of wealthy
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16:42 - 16:45Americans and CEOs are willing to do just that if it helps the
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16:45 - 16:49economy grow and gets our fiscal house in order.
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16:49 - 16:52I'll also offer ideas to reform a corporate tax code
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16:52 - 16:55that stands as a monument to special interest
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16:55 - 16:56influence in Washington.
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16:56 - 16:59By eliminating pages of loopholes and deductions,
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16:59 - 17:02we can lower one of the highest corporate tax
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17:02 - 17:03rates in the world.
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17:03 - 17:03(applause)
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17:03 - 17:06Our tax code should not give an advantage to companies
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17:06 - 17:09that can afford the best-connected lobbyists.
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17:09 - 17:11It should give an advantage to companies that invest and create
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17:11 - 17:14jobs right here in the United States of America.
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17:14 - 17:30(applause)
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17:30 - 17:34So we can reduce this deficit, pay down our debt,
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17:34 - 17:38and pay for this jobs plan in the process.
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17:38 - 17:41But in order to do this, we have to decide what
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17:41 - 17:44our priorities are.
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17:44 - 17:47We have to ask ourselves, "What's the best way to grow
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17:47 - 17:51the economy and create jobs?"
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17:51 - 17:54Should we keep tax loopholes for oil companies?
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17:54 - 17:56Or should we use that money to give small business owners a tax
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17:56 - 17:59credit when they hire new workers?
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17:59 - 18:03Because we can't afford to do both.
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18:03 - 18:06Should we keep tax breaks for millionaires and billionaires?
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18:06 - 18:09Or should we put teachers back to work so our kids can graduate
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18:09 - 18:11ready for college and good jobs?
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18:11 - 18:16(applause)
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18:16 - 18:20Right now, we can't afford to do both.
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18:20 - 18:22This isn't political grandstanding.
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18:22 - 18:25This isn't class warfare.
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18:25 - 18:26This is simple math.
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18:26 - 18:28(laughter)
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18:28 - 18:30This is simple math.
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18:30 - 18:33These are real choices.
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18:33 - 18:34These are real choices that we've got to make.
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18:34 - 18:37And I'm pretty sure I know what most Americans would choose.
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18:37 - 18:39It's not even close.
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18:39 - 18:42And it's time for us to do what's right for our future.
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18:42 - 18:50(applause)
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18:50 - 18:54Now, the American Jobs Act answers the urgent need to
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18:54 - 18:57create jobs right away.
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18:57 - 18:59But we can't stop there.
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18:59 - 19:02As I've argued since I ran for this office,
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19:02 - 19:04we have to look beyond the immediate crisis and start
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19:04 - 19:08building an economy that lasts into the future --
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19:08 - 19:11an economy that creates good, middle-class jobs that pay well
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19:11 - 19:13and offer security.
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19:13 - 19:16We now live in a world where technology has made it possible
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19:16 - 19:19for companies to take their business anywhere.
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19:19 - 19:23If we want them to start here and stay here and hire here,
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19:23 - 19:26we have to be able to out-build and out-educate and out-innovate
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19:26 - 19:28every other country on Earth.
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19:28 - 19:36(applause)
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19:36 - 19:39And this task of making America more competitive for the long
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19:39 - 19:42haul, that's a job for all of us.
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19:42 - 19:45For government and for private companies.
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19:45 - 19:48For states and for local communities -- and for
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19:48 - 19:50every American citizen.
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19:50 - 19:53All of us will have to up our game.
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19:53 - 19:58All of us will have to change the way we do business.
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19:58 - 20:01My administration can and will take some steps to improve our
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20:01 - 20:04competitiveness on our own.
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20:04 - 20:07For example, if you're a small business owner who has a
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20:07 - 20:09contract with the federal government,
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20:09 - 20:11we're going to make sure you get paid a lot faster
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20:11 - 20:12than you do right now.
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20:12 - 20:18(applause)
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20:18 - 20:21We're also planning to cut away the red tape that prevents too
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20:21 - 20:24many rapidly growing startup companies from raising capital
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20:24 - 20:25and going public.
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20:25 - 20:27And to help responsible homeowners,
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20:27 - 20:30we're going to work with federal housing agencies to help more
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20:30 - 20:34people refinance their mortgages at interest rates that are now
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20:34 - 20:35near 4 percent.
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20:35 - 20:36That's a step --
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20:36 - 20:50(applause)
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20:50 - 20:52-- I know you guys must be for this,
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20:52 - 20:54because that's a step that can put more than $2,000
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20:54 - 20:57a year in a family's pocket, and give a lift to an economy
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20:57 - 21:02still burdened by the drop in housing prices.
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21:02 - 21:05So, some things we can do on our own.
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21:05 - 21:08Other steps will require congressional action.
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21:08 - 21:11Today you passed reform that will speed up the outdated
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21:11 - 21:13patent process, so that entrepreneurs can turn a new
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21:13 - 21:17idea into a new business as quickly as possible.
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21:17 - 21:19That's the kind of action we need.
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21:19 - 21:23Now it's time to clear the way for a series of trade agreements
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21:23 - 21:26that would make it easier for American companies to sell their
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21:26 - 21:30products in Panama and Colombia and South Korea -- while also
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21:30 - 21:33helping the workers whose jobs have been affected by
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21:33 - 21:34global competition.
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21:34 - 21:44(applause)
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21:44 - 21:47If Americans can buy Kias and Hyundais,
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21:47 - 21:50I want to see folks in South Korea driving Fords and Chevys
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21:50 - 21:51and Chryslers.
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21:51 - 21:52(applause)
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21:52 - 21:56I want to see more products sold around the world stamped with
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21:56 - 21:59the three proud words: "Made in America."
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21:59 - 22:00That's what we need to get done.
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22:00 - 22:13(applause)
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22:13 - 22:18And on all of our efforts to strengthen competitiveness,
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22:18 - 22:20we need to look for ways to work side by side with
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22:20 - 22:22America's businesses.
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22:22 - 22:24That's why I've brought together a Jobs Council of leaders from
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22:24 - 22:27different industries who are developing a wide range of new
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22:27 - 22:31ideas to help companies grow and create jobs.
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22:31 - 22:33Already, we've mobilized business leaders to train
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22:33 - 22:3710,000 American engineers a year, by providing company
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22:37 - 22:40internships and training.
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22:40 - 22:42Other businesses are covering tuition for workers who learn
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22:42 - 22:44new skills at community colleges.
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22:44 - 22:48And we're going to make sure the next generation of manufacturing
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22:48 - 22:51takes root not in China or Europe, but right here,
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22:51 - 22:52in the United States of America.
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22:52 - 23:07(applause)
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23:07 - 23:09If we provide the right incentives,
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23:09 - 23:12the right support -- and if we make sure our trading partners
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23:12 - 23:16play by the rules -- we can be the ones to build everything
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23:16 - 23:19from fuel-efficient cars to advanced biofuels to
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23:19 - 23:23semiconductors that we sell all around the world.
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23:23 - 23:26That's how America can be number one again.
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23:26 - 23:29And that's how America will be number one again.
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23:29 - 23:35(applause)
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23:35 - 23:39Now, I realize that some of you have a different theory on how
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23:39 - 23:42to grow the economy.
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23:42 - 23:45Some of you sincerely believe that the only solution to our
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23:45 - 23:49economic challenges is to simply cut most government spending and
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23:49 - 23:51eliminate most government regulations.
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23:51 - 24:03(applause)
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24:03 - 24:06Well, I agree that we can't afford wasteful spending,
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24:06 - 24:11and I'll work with you, with Congress, to root it out.
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24:11 - 24:15And I agree that there are some rules and regulations that do
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24:15 - 24:17put an unnecessary burden on businesses at a time when they
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24:17 - 24:18can least afford it.
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24:18 - 24:24(applause)
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24:24 - 24:28That's why I ordered a review of all government regulations.
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24:28 - 24:31So far, we've identified over 500 reforms,
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24:31 - 24:34which will save billions of dollars over the next few years.
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24:34 - 24:34(applause)
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24:34 - 24:39We should have no more regulation than the health,
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24:39 - 24:42safety and security of the American people require.
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24:42 - 24:44Every rule should meet that common-sense test.
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24:44 - 24:50(applause)
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24:50 - 24:56But what we can't do -- what I will not do -- is let this
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24:56 - 25:00economic crisis be used as an excuse to wipe out the basic
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25:00 - 25:03protections that Americans have counted on for decades.
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25:03 - 25:15(applause)
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25:15 - 25:19I reject the idea that we need to ask people to choose between
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25:19 - 25:21their jobs and their safety.
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25:21 - 25:24I reject the argument that says for the economy to grow,
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25:24 - 25:27we have to roll back protections that ban hidden fees by credit
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25:27 - 25:30card companies, or rules that keep our kids from being exposed
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25:30 - 25:33to mercury, or laws that prevent the health insurance industry
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25:33 - 25:35from shortchanging patients.
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25:35 - 25:38I reject the idea that we have to strip away collective
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25:38 - 25:40bargaining rights to compete in a global economy.
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25:40 - 25:55(applause)
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25:55 - 25:57We shouldn't be in a race to the bottom,
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25:57 - 26:00where we try to offer the cheapest labor and the worst
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26:00 - 26:02pollution standards.
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26:02 - 26:04America should be in a race to the top.
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26:04 - 26:06And I believe we can win that race.
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26:06 - 26:16(applause)
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26:16 - 26:18In fact, this larger notion that the only thing we can
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26:18 - 26:20do to restore prosperity is just dismantle government,
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26:20 - 26:24refund everybody's money, and let everyone write their own
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26:24 - 26:27rules, and tell everyone they're on their own --
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26:27 - 26:30that's not who we are.
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26:30 - 26:33That's not the story of America.
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26:33 - 26:36Yes, we are rugged individualists.
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26:36 - 26:39Yes, we are strong and self-reliant.
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26:39 - 26:42And it has been the drive and initiative of our workers and
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26:42 - 26:45entrepreneurs that has made this economy the engine and the envy
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26:45 - 26:47of the world.
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26:47 - 26:50But there's always been another thread running throughout our
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26:50 - 26:53history -- a belief that we're all connected,
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26:53 - 26:56and that there are some things we can only do together,
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26:56 - 26:58as a nation.
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26:58 - 27:01We all remember Abraham Lincoln as the leader who
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27:01 - 27:03saved our Union.
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27:03 - 27:06Founder of the Republican Party.
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27:06 - 27:08But in the middle of a civil war,
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27:08 - 27:13he was also a leader who looked to the future -- a Republican
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27:13 - 27:15President who mobilized government to build the
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27:15 - 27:16Transcontinental Railroad --
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27:16 - 27:17(applause)
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27:17 - 27:20-- launch the National Academy of Sciences,
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27:20 - 27:22set up the first land grant colleges.
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27:22 - 27:23(applause)
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27:23 - 27:29And leaders of both parties have followed the example he set.
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27:29 - 27:32Ask yourselves -- where would we be right now if the people who
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27:32 - 27:36sat here before us decided not to build our highways,
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27:36 - 27:40not to build our bridges, our dams, our airports?
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27:40 - 27:43What would this country be like if we had chosen not to spend
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27:43 - 27:48money on public high schools, or research universities,
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27:48 - 27:51or community colleges?
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27:51 - 27:53Millions of returning heroes, including my grandfather,
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27:53 - 27:56had the opportunity to go to school because of the G.I. Bill.
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27:56 - 27:59Where would we be if they hadn't had that chance?
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27:59 - 28:16(applause)
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28:16 - 28:19How many jobs would it have cost us if past Congresses decided
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28:19 - 28:22not to support the basic research that led to the
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28:22 - 28:24Internet and the computer chip?
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28:24 - 28:28What kind of country would this be if this chamber had voted
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28:28 - 28:32down Social Security or Medicare just because it violated some
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28:32 - 28:35rigid idea about what government could or could not do?
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28:35 - 28:35(applause)
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28:35 - 28:41How many Americans would have suffered as a result?
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28:41 - 28:44No single individual built America on their own.
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28:44 - 28:47We built it together.
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28:47 - 28:52We have been, and always will be, one nation, under God,
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28:52 - 28:54indivisible, with liberty and justice for all;
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28:54 - 28:58a nation with responsibilities to ourselves and with
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28:58 - 29:00responsibilities to one another.
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29:00 - 29:03And members of Congress, it is time for us to meet
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29:03 - 29:04our responsibilities.
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29:04 - 29:25(applause)
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29:25 - 29:28Every proposal I've laid out tonight is the kind that's
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29:28 - 29:32been supported by Democrats and Republicans in the past.
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29:32 - 29:36Every proposal I've laid out tonight will be paid for.
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29:36 - 29:39And every proposal is designed to meet the urgent needs of our
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29:39 - 29:42people and our communities.
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29:42 - 29:45Now, I know there's been a lot of skepticism about whether the
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29:45 - 29:48politics of the moment will allow us to pass this jobs
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29:48 - 29:51plan -- or any jobs plan.
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29:51 - 29:54Already, we're seeing the same old press releases and tweets
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29:54 - 29:56flying back and forth.
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29:56 - 29:59Already, the media has proclaimed that it's impossible
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29:59 - 30:01to bridge our differences.
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30:01 - 30:03And maybe some of you have decided that those differences
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30:03 - 30:08are so great that we can only resolve them at the ballot box.
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30:08 - 30:14But know this: The next election is 14 months away.
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30:14 - 30:18And the people who sent us here -- the people who hired us to
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30:18 - 30:23work for them -- they don't have the luxury of waiting 14 months.
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30:23 - 30:45(applause)
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30:45 - 30:49Some of them are living week to week, paycheck to paycheck,
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30:49 - 30:51even day to day.
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30:51 - 30:54They need help, and they need it now.
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30:54 - 30:59I don't pretend that this plan will solve all our problems.
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30:59 - 31:01It should not be, nor will it be,
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31:01 - 31:04the last plan of action we propose.
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31:04 - 31:07What's guided us from the start of this crisis hasn't been the
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31:07 - 31:09search for a silver bullet.
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31:09 - 31:13It's been a commitment to stay at it -- to be persistent --
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31:13 - 31:15to keep trying every new idea that works,
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31:15 - 31:17and listen to every good proposal,
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31:17 - 31:21no matter which party comes up with it.
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31:21 - 31:24Regardless of the arguments we've had in the past,
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31:24 - 31:27regardless of the arguments we will have in the future,
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31:27 - 31:29this plan is the right thing to do right now.
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31:29 - 31:30You should pass it.
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31:30 - 31:33And I intend to take that message to every corner
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31:33 - 31:34of this country.
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31:34 - 31:46(applause)
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31:46 - 31:50And I ask -- I ask every American who agrees to lift
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31:50 - 31:56your voice: Tell the people who are gathered here tonight that
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31:56 - 31:57you want action now.
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31:57 - 32:01Tell Washington that doing nothing is not an option.
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32:01 - 32:04Remind us that if we act as one nation and one people,
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32:04 - 32:08we have it within our power to meet this challenge.
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32:08 - 32:12President Kennedy once said, "Our problems are man-made --
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32:12 - 32:14therefore they can be solved by man.
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32:14 - 32:18And man can be as big as he wants."
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32:18 - 32:20These are difficult years for our country.
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32:20 - 32:21But we are Americans.
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32:21 - 32:23We are tougher than the times we live in,
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32:23 - 32:26and we are bigger than our politics have been.
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32:26 - 32:28So let's meet the moment.
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32:28 - 32:31Let's get to work, and let's show the world once again why
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32:31 - 32:33the United States of America remains the
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32:33 - 32:34greatest nation on Earth.
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32:34 - 32:34(applause)
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32:34 - 32:36Thank you very much.
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32:36 - 32:39God bless you, and God bless the United States of America.
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32:39 -(applause)
Claude Almansi edited English subtitles for President Obama Presents American Jobs Act (Enhanced Version) |