Remarks of President-elect Barack Obama
Democratic Radio Address
recorded Friday,
November 21, 2008
delivered
Saturday, November 22, 2008
[remarks
as delivered]
Good
morning.
The
news this week has only reinforced the fact that we are facing an
economic crisis of historic proportions. Financial markets faced
more turmoil. New home purchases in October were the lowest in
half a century. 540,000 more jobless claims were filed last week,
the highest in eighteen years. And we now risk falling into a
deflationary spiral that could increase our massive debt even further.
While
I’m pleased that Congress passed a long-overdue extension of
unemployment benefits this week, we must do more to put people back to
work and get our economy moving again. We have now lost 1.2
million jobs this year, and if we don’t act swiftly and boldly, most
experts now believe that we could lose millions of jobs next
year.
There
are no quick or easy fixes to this crisis, which has been many years in
the making, and it’s likely to get worse before it gets better. But
January 20th is our chance to begin anew – with a new direction, new
ideas, and new reforms that will create jobs and fuel long-term
economic growth.
I
have already directed my economic team to come up with an Economic
Recovery Plan that will mean 2.5 million more jobs by January of 2011 –
a plan big enough to meet the challenges we face that I intend to sign
soon after taking office. We’ll be working out the details in the
weeks ahead, but it will be a two-year, nationwide effort to jumpstart
job creation in America and lay the foundation for a strong and growing
economy. We’ll put people back to work rebuilding our crumbling
roads and bridges, modernizing schools that are failing our children,
and building wind farms and solar panels; fuel-efficient cars and the
alternative energy technologies that can free us from our dependence on
foreign oil and keep our economy competitive in the years ahead.
These
aren’t just steps to pull ourselves out of this immediate crisis; these
are the long-term investments in our economic future that have been
ignored for far too long. And they represent an early down
payment on the type of reform my Administration will bring to
Washington – a government that spends wisely, focuses on what works,
and puts the public interest ahead of the same special interests that
have come to dominate our politics.
I
know that passing this plan won’t be easy. I will need and seek
support from Republicans and Democrats, and I’ll be welcome to ideas
and suggestions from both sides of the aisle.
But
what is not negotiable is the need for immediate action. Right
now, there are millions of mothers and fathers who are lying awake at
night wondering if next week’s paycheck will cover next month’s
bills. There are Americans showing up to work in the morning only
to have cleared out their desks by the afternoon. Retirees are
watching their life savings disappear and students are seeing their
college dreams deferred. These Americans need help, and they need
it now.
The
survival of the American Dream for over two centuries is not only a
testament to its enduring power, but to the great effort, sacrifice,
and courage of the American people. It has thrived because in our
darkest hours, we have risen above the smallness of our divisions to
forge a path towards a new and brighter day. We have acted
boldly, bravely, and above all, together. That is the chance our
new beginning now offers us, and that is the challenge we must rise to
in the days to come. It is time to act. As the next
President of the United States, I will. Thank you.
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