Categories
fail Mitch McConnell Politics

An Almost Impossible New Low For Congress, And We Have Republicans To Thank

When President Obama became President of the United States, something got triggered in Congressional Republicans. They all decided that this particular president must not succeed. Before Mr. Obama’s moving truck drove up and delivered the Obama’s personal merchandise to the White House, Republicans had already began their game plan – to fight, to argue and to disrespect the office of the President like no other time in this nation’s history.

So they fought and continue to fight. And they set new records for filibusters. And they criticize  President Obama, for everything from the price of gas and oil – that has everything to do with market speculators and nothing to do with the president – to jobs lost in a recession that began primarily because of Corporate greed and the policies of Mr. George Bush.

Yes, the Republican’s game plan was, and is, in full effect. Every time they succeed in stopping a jobs plan, and every time they filibuster tax cuts for businesses, and every time they try to cut American’s rights, or manage to take away benefits that Americans have paid into, Republicans believe that Americans would blame the President.

Well Republicans, your game plan is flawed. Yes, you’ve managed to create an atmosphere in Washington of no coorporation and no compromise, but your expectation that the public would blame the president is not working out the way you planned it.

This new poll shows the disgust Americans are feeling about the job both Democrats and Republicans in Congress are doing.

Only 10 percent said they approved of the way Congress was handling its job, down from 13 percent in January.

The previous all-time low from Gallup was 11 percent in December of 2011.

Congress’s approval rating averaged 17 percent in 2011, peaking at 24 percent in May — it has been slowly declining since.

But don’t expect Republicans to stop now. Don’t expect them to do the job of the American people who sent them to Congress. Republicans would continue pushing against and fighting this particular president because there is something inside them that commands them to do so. And what ever that something is, Congressional Republicans are prepared to go down with the ship if it means Americans might think the president is a failure.

But their game plan is not working. We the people are paying attention…

 

Categories
Barack Obama Politics United States

For Congressional Approval, It’s How Low Can You Go

You couldn’t get this low of an approval even if you tried.

Hammered by bipartisan discontent with its partisan rancor, the U.S. Congress reconvenes Tuesday with its lowest approval rating on record in polls dating back nearly 40 years –ideal fodder not just for late-night comedians, but also for President Obama in the election year ahead.

Just 13 percent of Americans in the latest ABC News/Washington Post poll approve of the way Congress is handling its job, while 84 percent disapprove – its worst rating in poll results since 1974. Sixty-five percent disapprove “strongly,” a vast level of high-intensity criticism.

Congress’ rating is a broad 35 points below Obama’s 48 percent approval, the biggest gap between approval of the president and Congress since 1990

Categories
Barack Obama Politics United States White House

The S.O.P.A Debate And The White House Response

There is a big debate going on right now about a few pieces of legislation in Congress geared to fight online piracy. The Protect Intellectual Property Act (PIPA) and the Online Protection and Digital ENforcement Act (OPEN) are making their way through the legislative body, but another bill called SOPA – the Stop Online Piracy Act (SOPA) – has created a firestorm of controversies because of its wide and far-reaching powers.

If enacted and signed into law, SOPA, according to opponents of the bill, will (among other things) have the authority to tell Internet Service Providers to block the Domain Name Systems (DNS) of most law-abiding websites – including websites that operate under the Creative Commons License – simply because the site may have used contents protected under the Commons License, but not explicitly authorized by the content’s owner.

The author of the bill Representative Lamar Smith (R-TX) and those in favor of SOPA maintain that only sites outside the United States that violates the owner’s intellectual property, will be affected.

The debate over this particular piece of legislation cause the White House to put out the following statement, detailing their where they stand on the issue. The statement was issued by Victoria Espinel, Aneesh Chopra, and Howard Schmidt.

While we believe that online piracy by foreign websites is a serious problem that requires a serious legislative response, we will not support legislation that reduces freedom of expression, increases cybersecurity risk, or undermines the dynamic, innovative global Internet.

Any effort to combat online piracy must guard against the risk of online censorship of lawful activity and must not inhibit innovation by our dynamic businesses large and small. Across the globe, the openness of the Internet is increasingly central to innovation in business, government, and society and it must be protected. To minimize this risk, new legislation must be narrowly targeted only at sites beyond the reach of current U.S. law, cover activity clearly prohibited under existing U.S. laws, and be effectively tailored, with strong due process and focused on criminal activity. Any provision covering Internet intermediaries such as online advertising networks, payment processors, or search engines must be transparent and designed to prevent overly broad private rights of action that could encourage unjustified litigation that could discourage startup businesses and innovative firms from growing.

We must avoid creating new cybersecurity risks or disrupting the underlying architecture of the Internet. Proposed laws must not tamper with the technical architecture of the Internet through manipulation of the Domain Name System (DNS), a foundation of Internet security. Our analysis of the DNS filtering provisions in some proposed legislation suggests that they pose a real risk to cybersecurity and yet leave contraband goods and services accessible online. We must avoid legislation that drives users to dangerous, unreliable DNS servers and puts next-generation security policies, such as the deployment of DNSSEC, at risk.

Let us be clear—online piracy is a real problem that harms the American economy, threatens jobs for significant numbers of middle class workers and hurts some of our nation’s most creative and innovative companies and entrepreneurs.  It harms everyone from struggling artists to production crews, and from startup social media companies to large movie studios. While we are strongly committed to the vigorous enforcement of intellectual property rights, existing tools are not strong enough to root out the worst online pirates beyond our borders. That is why the Administration calls on all sides to work together to pass sound legislation this year that provides prosecutors and rights holders new legal tools to combat online piracy originating beyond U.S. borders while staying true to the principles outlined above in this response.  We should never let criminals hide behind a hollow embrace of legitimate American values.

This is not just a matter for legislation. We expect and encourage all private parties, including both content creators and Internet platform providers working together, to adopt voluntary measures and best practices to reduce online piracy.

So, rather than just look at how legislation can be stopped, ask yourself: Where do we go from here? Don’t limit your opinion to what’s the wrong thing to do, ask yourself what’s right. Already, many members of Congress are asking for public input around the issue. We are paying close attention to those opportunities, as well as to public input to the Administration. The organizer of this petition and a random sample of the signers will be invited to a conference call to discuss this issue further with Administration officials and soon after that, we will host an online event to get more input and answer your questions. Details on that will follow in the coming days.

Washington needs to hear your best ideas about how to clamp down on rogue websites and other criminals who make money off the creative efforts of American artists and rights holders. We should all be committed to working with all interested constituencies to develop new legal tools to protect global intellectual property rights without jeopardizing the openness of the Internet. Our hope is that you will bring enthusiasm and know-how to this important challenge.

Moving forward, we will continue to work with Congress on a bipartisan basis on legislation that provides new tools needed in the global fight against piracy and counterfeiting, while vigorously defending an open Internet based on the values of free expression, privacy, security and innovation. Again, thank you for taking the time to participate in this important process. We hope you’ll continue to be part of it.

Victoria Espinel is Intellectual Property Enforcement Coordinator at Office of Management and Budget

Aneesh Chopra is the U.S. Chief Technology Officer and Assistant to the President and Associate Director for Technology at the Office of Science and Technology Policy

Howard Schmidt is Special Assistant to the President and Cybersecurity Coordinator for National Security Staff

Categories
Barack Obama Democratic democrats Domestic Policies Nancy Pelosi Republican Unemployment

Democrats On The Attack – Asks Republicans Where Are The Jobs?

News on The Hill – In their first public address of 2012, House Democratic leaders ripped into Republicans Thursday for ignoring President Obama’s jobs package amid a lingering unemployment crisis.

Behind Minority Leader Nancy Pelosi (D-Calif.), the lawmakers accused GOP leaders of neglecting their duties and remaining on vacation as the jobless rate tickles down to 9 percent.

“The American people need jobs, and we’re not on the job,” said Pelosi, flanked by more than two dozen other Democrats in the Capitol. “Where are they [Republicans]? I don’t know. Where should they be? Right here in this Capitol getting to work.”

The Democrats used the one-year anniversary of the Republicans’ takeover of the House to question why GOP leaders have resisted new education, infrastructure and public works funding – all part of Obama’s plan to create jobs.

“One year in office and no significant jobs bill,” Pelosi charged.

Categories
Barack Obama Politics Republican Senate United States washington

President Overrides Republican Obstructionism – The Richard Cordray Appointment

President Obama today did what Republicans in Congress refused to do simply because of their political ideology. He bypassed the broken system in Washington and installed Richard Cordray to head the Consumer Protection Agency.

“When Congress refuses to act, and as a result, hurts our economy and puts our people at risk, then I have an obligation as President to do what I can without them,” the President stated  as he addressed his supporters in Shaker Heights, Ohio. “I’ve got an obligation to act on behalf of the American people. And I’m not going to stand by while a minority in the Senate puts party ideology ahead of the people that we were elected to serve.”

Congressional Republicans’ refusal to even schedule hearings on Mr. Cordray’s appointment falls in line with their obvious hypocrisy as the Consumer Protection Agency is all about protecting consumers and that is something Republicans will not do. The President said it best today, “The only reason Republicans in the Senate have blocked Richard is because they don’t agree with the law that set up a consumer watchdog in the first place.”

Categories
money Politics United States

While Congress Got Richer, Average Americans Got Poorer

The New York Times is once again, shedding some light on the selfish, mine mine mine mentality that is now elected Congressional members. Apparently, Congress is the place to go if you want to be a millionaire, while the rest of your constituents suffer!

While the median net worth of members of Congress jumped 15 percent from 2004 to 2010, the net worth of the richest 10 percent of Americans remained essentially flat. For all Americans, median net worth dropped 8 percent, based on inflation-adjusted data from Moody’s Analytics.

Going back further, the median wealth of House members grew some two and a half times between 1984 and 2009 in inflation-adjusted dollars, while the wealth of the average American family has actually declined slightly in that same time period, according to data cited by The Washington Post in an article published Monday on its Web site.

Categories
Domestic Policies Payroll tax Republican Tax Tax cut United States

President Obama Calls Boehner’s Caving “Good News”

In a statement, the President praised the “good news” that Boehner and House Republicans caved on extending the Payroll tax cuts for the middle class.

“For the past several weeks, I’ve stated consistently that it was critical that Congress not go home without preventing a tax increase on 160 million working Americans. Today, I congratulate members of Congress for ending the partisan stalemate by reaching an agreement that meets that test.

Because of this agreement, every working American will keep his or her tax cut – about $1,000 for the average family. That’s about $40 in every paycheck. Vital unemployment insurance will continue for millions of Americans who are looking for work. And when Congress returns, I urge them to keep working to reach an agreement that will extend this tax cut and unemployment insurance for all of 2012 without drama or delay.

This is good news, just in time for the holidays. This is the right thing to do to strengthen our families, grow our economy, and create new jobs. This is real money that will make a real difference in people’s lives. And I want to thank every American who raised your voice to remind folks in this town what this debate was all about. It was about you. And today, your voices made all the difference.”

Indeed.

Categories
failed Politics

Republicans Failed The Middle Class Again. No Payroll Tax Cuts For You

For the majority of people reading this post be prepared. Starting in January of 2012, your family will pay $1000.00 more a year because of what happened in Washington yesterday. Yesterday, the American people watched in amazement as two separate plans designed to help the middle class got defeated in the Senate.

Plan 1 was proposed by the Democrats. It required an extension of the payroll tax cuts that working families currently benefit from, but which is set to expire on December 31st. The plan was defeated by Republicans who objected to the way Democrats wanted to pay for the tax cuts – by slightly increasing the taxes on people making over 1 million dollars. Republican’s reasoning for defeating the plan was a claim that people making over $1 million were job creators, and they didn’t want to raise taxes on these people.

With the Democratic plan defeated, Republicans got a chance to offer their own plan to extend the payroll tax cuts. But the way they wanted to pay for the cuts was to continue a pay freeze on federal workers until 2015, and to eventually eliminate 10% of the federal work force.

With the economic benefits for the working middle class to have these payroll tax cuts extended past December 31st, the Republican plan was voted on and that too went down in defeat. The Republican proposal wasn’t defeated by Democrats, but by the very people who introduced the plan… Republicans!

The President, who has pushed Congress to approve the payroll tax cut extension called the vote “unacceptable,” and asked Republicans to “stop playing politics” with the American people.

Tonight, Senate Republicans chose to raise taxes on nearly 160 million hardworking Americans because they refused to ask a few hundred thousand millionaires and billionaires to pay their fair share. They voted against a bill that would have not only extended the $1,000 tax cut for a typical family, but expanded that tax cut to put an extra $1,500 in their pockets next year, and given nearly six million small business owners new incentives to expand and hire. That is unacceptable. It makes absolutely no sense to raise taxes on the middle class at a time when so many are still trying to get back on their feet.

Now is not the time to put the economy and the security of the middle class at risk. Now is the time to rebuild an economy where hard work and responsibility pay off, and everybody has a chance to succeed. Now is the time to put country before party and work together on behalf of the American people. And I will continue to urge Congress to stop playing politics with the security of millions of American families and small business owners and get this done.

And the American people watch in amazement, as the Republicans in Congress continue to put the middle class on the chopping block, while they infinitely protect the top 1%, even when the 1% are asking, no, begging to pay more in taxes.

The American people currently pay 4.2% in payroll taxes. Because of Republican’s actions yesterday, the taxes will go up to 6.2% in January, which will cost the average family another $1000.00 a year.

Categories
pay Politics taxes

The Rich Goes To Congress Begging To Pay More Taxes

Republicans in Congress have pledged their lives to Grover Norquist and his efforts to protect the rich. Norquist managed to get just about all the Republicans in Congress to sign his pledge not to raise taxes on the rich. And although the economy needs all the help it can get, Norquist and his Republican goons are sticking to their pledge, thus, sticking it to the American people.

But even the rich is seeing through the Vail of deception perpetrated by the Republicans and their pretense of patriotism, and their willingness to see the economy crash and burn for political reasons. And they, the rich,  have come to save the day.

WASHINGTON (AP) — Lobbyists for a day, a band of millionaires stormed Capitol Hill on Wednesday to urge Congress to tax them more.

They had a little trouble getting in. It turns out there are procedures, even for the really rich.

But once inside, their message was embraced by liberals and tolerated by some conservatives — including the ideological leader of anti-tax lawmakers, who had some advice for them, too.

“If you think the federal government can spend your money better than you can, then by all means” pay more in taxes than you owe, said Grover Norquist, of Americans for Tax Reform, a group that has gotten almost all congressional Republicans to pledge to vote against tax hikes. The IRS should have a little line on the form where people can donate money to the government, he suggested, “just like the tip line on a restaurant receipt.”

One of the millionaires suggested that if Norquist wanted low taxes and less government, “Renounce your American citizenship and move to Somalia where they don’t collect any tax.”

Categories
democrats Politics

Lifestyle Of The Rich And Famous – In Congress

“Few federal lawmakers must grapple with the financial ills –unemployment, loss of housing, wiped out savings — that have befallen millions of Americans,” said Sheila Krumholz, the Center for Responsive Politics’ executive director. “Congressional representatives on balance rank among the wealthiest of wealthy Americans and boast financial portfolios that are all but unattainable for most of their constituents.”

That was taken from a new report on the rich folks in Congress. You know, the ones we hire through our votes to represent us. They are supposed to be the folks working for our best interests, for a better America. But this report by the Center for Responsive Politics confirmed what every American already knew – that politicians, both Democrats and Republicans, are members of the MeFirst Society.

The report continues;

When averaging lawmakers’ minimum and maximum potential wealth for 2009, Rep. Darrell Issa (R-Calif.) tops the list with holdings exceeding $303.5 million. Issa (pictured right) is followed by a fellow Californian, Rep. Jane Harman (D-Calif.), with $293.4 million. Sen. John Kerry (D-Mass.) places third at $238.8 million.

Issa, Harman and Kerry realized wealth gains of nearly 21 percent, 19.8 percent and 14.3 percent respectively.

Sen. Mark Warner (D-Va.), Rep. Jared Polis (D-Colo.), Sen. Herb Kohl (D-Wis.), Rep. Vernon Buchanan (R-Fla.) and Rep. Michael McCaul (R-Texas) round the list of lawmakers who in 2009 recorded an average wealth of at least $100 million.

So where is all this income coming from. At a time when the American people are losing their homes, their jobs and their families because of a lousy economy, and at a time when congressional approval is at an all time low of 9%,  how are these same leaders making all this money?

They do it by serving and catering to their true constituents – no, not you the people, but Corporations… the people.

Corporations spends tens of millions yearly to lobby their favorite politician. They also provide amazing stock options these politicians find irresistible.

With 82 current members of Congress invested, General Electric tops this list. It’s followed by Bank of America (63), Cisco Systems (61), Proctor & Gamble (61) and Microsoft (54).

Apple, with 42 current congressional investors, edges IBM, with 41. Coca-Cola’s 39 congressional investors pop it a notch above PepsiCo, with 36.

And at least 20 current members of Congress were also last year invested in companies that found themselves the subject of congressional or federal agency inquiries, including Goldman Sachs and BP.

Furthermore, the companies behind a number of lawmakers’ favorite investments played key roles in lobbying Congress on two of the most critical legislative initiatives of the past two years: health care reform and financial regulatory reform.

Among health care-related companies, at least 20 current lawmakers reported owning stakes in Pfizer (49), Johnson & Johnson (39), Merck (27), Abbott Laboratories (25), CVS/Caremark (23), Bristol-Myers Squibb (22) and Amgen (20).

As for financial firms, Bank of American and Goldman Sachs are joined by Wells Fargo (45), JPMorgan Chase (38) and Citigroup (24).

Champagne wishes and Caviar dreams.

These ladies and gentlemen, are the people who feel your pain. They are the ones who know the devastation you face as you lose your home.

These millionaire politicians from the MeFirst Society, are looking out for your best interest.
Sure!

Categories
job creation Politics teachers

Report – 400,000 Education Jobs Will Be Created If Republicans Agree To Jobs Bill

If Republicans do the right thing and work with the President to get the economy going again through job creation, expect to see at least 400,000 education jobs saved or created because of the President’s $447 billion jobs bill.

According to a report from Reuters, the bill contains “$30 billion for state and local efforts to retain, rehire and hire educators, supporting 392,400 jobs, according to projections released by the Education Department and White House Council of Economic Advisers.”

Sounds like a good plan. It is exactly what we need in an economy where job creation is on the back burner of a do-nothing congress. If upwards of 392,400 education jobs are kept or created in this economy, consider it an asset for our kid’s future and beneficial to the economy as more people with jobs translate to more investments into the economy.

But don’t expect to see that happening anytime soon… if ever!

With a Republican controlled House of Representative already deciding that winning the next election is their top priority, doing anything to help the economy will not play into their game-plan. So expect educators to be laid off, expect an uncertain future for our children, thus, an uncertain future for this nation’s economy that will just keep creeping along… hopefully!

Seems that the Republican’s game-plan is in full effect, and it is working just fine thank you!

Categories
Politics Republican

President Obama Speaks About Jobs – Full Transcript And Video

Mr. Speaker, Mr. Vice President, Members of Congress, and fellow Americans: Tonight we meet at an urgent time for our country. We continue to face an economic crisis that has left millions of our neighbors jobless, and a political crisis that has made things worse.

This past week, reporters have been asking “What will this speech mean for the President? What will it mean for Congress? How will it affect their polls, and the next election?”

But the millions of Americans who are watching right now: they don’t care about politics. They have real life concerns. Many have spent months looking for work. Others are doing their best just to scrape by – giving up nights out with the family to save on gas or make the mortgage; postponing retirement to send a kid to college.

These men and women grew up with faith in an America where hard work and responsibility paid off. They believed in a country where everyone gets a fair shake and does their fair share – where if you stepped up, did your job, and were loyal to your company, that loyalty would be rewarded with a decent salary and good benefits; maybe a raise once in awhile. If you did the right thing, you could make it in America.

But for decades now, Americans have watched that compact erode. They have seen the deck too often stacked against them. And they know that Washington hasn’t always put their interests first.

The people of this country work hard to meet their responsibilities. The question tonight is whether we’ll meet ours. The question is whether, in the face of an ongoing national crisis, we can stop the political circus and actually do something to help the economy; whether we can restore some of the fairness and security that has defined this nation since our beginning.

Those of us here tonight can’t solve all of our nation’s woes. Ultimately, our recovery will be driven not by Washington, but by our businesses and our workers. But we can help. We can make a difference. There are steps we can take right now to improve people’s lives.

I am sending this Congress a plan that you should pass right away. It’s called the American Jobs Act. There should be nothing controversial about this piece of legislation. Everything in here is the kind of proposal that’s been supported by both Democrats and Republicans – including many who sit here tonight. And everything in this bill will be paid for. Everything.

The purpose of the American Jobs Act is simple: to put more people back to work and more money in the pockets of those who are working. It will create more jobs for construction workers, more jobs for teachers, more jobs for veterans, and more jobs for the long-term unemployed. It will provide a tax break for companies who hire new workers, and it will cut payroll taxes in half for every working American and every small business. It will provide a jolt to an economy that has stalled, and give companies confidence that if they invest and hire, there will be customers for their products and services. You should pass this jobs plan right away.

Everyone here knows that small businesses are where most new jobs begin. And you know that while corporate profits have come roaring back, smaller companies haven’t. So for everyone who speaks so passionately about making life easier for “job creators,” this plan is for you.

Pass this jobs bill, and starting tomorrow, small businesses will get a tax cut if they hire new workers or raise workers’ wages. Pass this jobs bill, and all small business owners will also see their payroll taxes cut in half next year. If you have 50 employees making an average salary, that’s an $80,000 tax cut. And all businesses will be able to continue writing off the investments they make in 2012.

It’s not just Democrats who have supported this kind of proposal. Fifty House Republicans have proposed the same payroll tax cut that’s in this plan. You should pass it right away.

Pass this jobs bill, and we can put people to work rebuilding America. Everyone here knows that we have badly decaying roads and bridges all over this country. Our highways are clogged with traffic. Our skies are the most congested in the world.

This is inexcusable. Building a world-class transportation system is part of what made us an economic superpower. And now we’re going to sit back and watch China build newer airports and faster railroads? At a time when millions of unemployed construction workers could build them right here in America?

There are private construction companies all across America just waiting to get to work. There’s a bridge that needs repair between Ohio and Kentucky that’s on one of the busiest trucking routes in North America. A public transit project in Houston that will help clear up one of the worst areas of traffic in the country. And there are schools throughout this country that desperately need renovating. How can we expect our kids to do their best in places that are literally falling apart? This is America. Every child deserves a great school – and we can give it to them, if we act now.

The American Jobs Act will repair and modernize at least 35,000 schools. It will put people to work right now fixing roofs and windows; installing science labs and high-speed internet in classrooms all across this country. It will rehabilitate homes and businesses in communities hit hardest by foreclosures. It will jumpstart thousands of transportation projects across the country. And to make sure the money is properly spent and for good purposes, we’re building on reforms we’ve already put in place. No more earmarks. No more boondoggles. No more bridges to nowhere. We’re cutting the red tape that prevents some of these projects from getting started as quickly as possible. And we’ll set up an independent fund to attract private dollars and issue loans based on two criteria: how badly a construction project is needed and how much good it would do for the economy.

This idea came from a bill written by a Texas Republican and a Massachusetts Democrat. The idea for a big boost in construction is supported by America’s largest business organization and America’s largest labor organization. It’s the kind of proposal that’s been supported in the past by Democrats and Republicans alike. You should pass it right away.

Pass this jobs bill, and thousands of teachers in every state will go back to work. These are the men and women charged with preparing our children for a world where the competition has never been tougher. But while they’re adding teachers in places like South Korea, we’re laying them off in droves. It’s unfair to our kids. It undermines their future and ours. And it has to stop. Pass this jobs bill, and put our teachers back in the classroom where they belong.

Pass this jobs bill, and companies will get extra tax credits if they hire America’s veterans. We ask these men and women to leave their careers, leave their families, and risk their lives to fight for our country. The last thing they should have to do is fight for a job when they come home.

Pass this bill, and hundreds of thousands of disadvantaged young people will have the hope and dignity of a summer job next year. And their parents, low-income Americans who desperately want to work, will have more ladders out of poverty.

Pass this jobs bill, and companies will get a $4,000 tax credit if they hire anyone who has spent more than six months looking for a job. We have to do more to help the long-term unemployed in their search for work. This jobs plan builds on a program in Georgia that several Republican leaders have highlighted, where people who collect unemployment insurance participate in temporary work as a way to build their skills while they look for a permanent job. The plan also extends unemployment insurance for another year. If the millions of unemployed Americans stopped getting this insurance, and stopped using that money for basic necessities, it would be a devastating blow to this economy. Democrats and Republicans in this Chamber have supported unemployment insurance plenty of times in the past. At this time of prolonged hardship, you should pass it again – right away.

Pass this jobs bill, and the typical working family will get a fifteen hundred dollar tax cut next year. Fifteen hundred dollars that would have been taken out of your paycheck will go right into your pocket. This expands on the tax cut that Democrats and Republicans already passed for this year. If we allow that tax cut to expire – if we refuse to act – middle-class families will get hit with a tax increase at the worst possible time. We cannot let that happen. I know some of you have sworn oaths to never raise any taxes on anyone for as long as you live. Now is not the time to carve out an exception and raise middle-class taxes, which is why you should pass this bill right away.

This is the American Jobs Act. It will lead to new jobs for construction workers, teachers, veterans, first responders, young people and the long-term unemployed. It will provide tax credits to companies that hire new workers, tax relief for small business owners, and tax cuts for the middle-class. And here’s the other thing I want the American people to know: the American Jobs Act will not add to the deficit. It will be paid for. And here’s how:

The agreement we passed in July will cut government spending by about $1 trillion over the next ten years. It also charges this Congress to come up with an additional $1.5 trillion in savings by Christmas. Tonight, I’m asking you to increase that amount so that it covers the full cost of the American Jobs Act. And a week from Monday, I’ll be releasing a more ambitious deficit plan – a plan that will not only cover the cost of this jobs bill, but stabilize our debt in the long run.

This approach is basically the one I’ve been advocating for months. In addition to the trillion dollars of spending cuts I’ve already signed into law, it’s a balanced plan that would reduce the deficit by making additional spending cuts; by making modest adjustments to health care programs like Medicare and Medicaid; and by reforming our tax code in a way that asks the wealthiest Americans and biggest corporations to pay their fair share. What’s more, the spending cuts wouldn’t happen so abruptly that they’d be a drag on our economy, or prevent us from helping small business and middle-class families get back on their feet right away.

Now, I realize there are some in my party who don’t think we should make any changes at all to Medicare and Medicaid, and I understand their concerns. But here’s the truth. Millions of Americans rely on Medicare in their retirement. And millions more will do so in the future. They pay for this benefit during their working years. They earn it. But with an aging population and rising health care costs, we are spending too fast to sustain the program. And if we don’t gradually reform the system while protecting current beneficiaries, it won’t be there when future retirees need it. We have to reform Medicare to strengthen it.

I’m also well aware that there are many Republicans who don’t believe we should raise taxes on those who are most fortunate and can best afford it. But here is what every American knows. While most people in this country struggle to make ends meet, a few of the most affluent citizens and corporations enjoy tax breaks and loopholes that nobody else gets. Right now, Warren Buffet pays a lower tax rate than his secretary – an outrage he has asked us to fix. We need a tax code where everyone gets a fair shake, and everybody pays their fair share. And I believe the vast majority of wealthy Americans and CEOs are willing to do just that, if it helps the economy grow and gets our fiscal house in order.

I’ll also offer ideas to reform a corporate tax code that stands as a monument to special interest influence in Washington. By eliminating pages of loopholes and deductions, we can lower one of the highest corporate tax rates in the world. Our tax code shouldn’t give an advantage to companies that can afford the best-connected lobbyists. It should give an advantage to companies that invest and create jobs here in America.

So we can reduce this deficit, pay down our debt, and pay for this jobs plan in the process. But in order to do this, we have to decide what our priorities are. We have to ask ourselves, “What’s the best way to grow the economy and create jobs?”

Should we keep tax loopholes for oil companies? Or should we use that money to give small business owners a tax credit when they hire new workers? Because we can’t afford to do both. Should we keep tax breaks for millionaires and billionaires? Or should we put teachers back to work so our kids can graduate ready for college and good jobs? Right now, we can’t afford to do both.

This isn’t political grandstanding. This isn’t class warfare. This is simple math. These are real choices that we have to make. And I’m pretty sure I know what most Americans would choose. It’s not even close. And it’s time for us to do what’s right for our future.

The American Jobs Act answers the urgent need to create jobs right away. But we can’t stop there. As I’ve argued since I ran for this office, we have to look beyond the immediate crisis and start building an economy that lasts into the future – an economy that creates good, middle-class jobs that pay well and offer security. We now live in a world where technology has made it possible for companies to take their business anywhere. If we want them to start here and stay here and hire here, we have to be able to out-build, out-educate, and out-innovate every other country on Earth.

This task, of making America more competitive for the long haul, is a job for all of us. For government and for private companies. For states and for local communities – and for every American citizen. All of us will have to up our game. All of us will have to change the way we do business.

My administration can and will take some steps to improve our competitiveness on our own. For example, if you’re a small business owner who has a contract with the federal government, we’re going to make sure you get paid a lot faster than you do now. We’re also planning to cut away the red tape that prevents too many rapidly-growing start-up companies from raising capital and going public. And to help responsible homeowners, we’re going to work with Federal housing agencies to help more people refinance their mortgages at interest rates that are now near 4% — a step that can put more than $2,000 a year in a family’s pocket, and give a lift to an economy still burdened by the drop in housing prices.

Other steps will require Congressional action. Today you passed reform that will speed up the outdated patent process, so that entrepreneurs can turn a new idea into a new business as quickly as possible. That’s the kind of action we need. Now it’s time to clear the way for a series of trade agreements that would make it easier for American companies to sell their products in Panama, Colombia, and South Korea – while also helping the workers whose jobs have been affected by global competition. If Americans can buy Kias and Hyundais, I want to see folks in South Korea driving Fords and Chevys and Chryslers. I want to see more products sold around the world stamped with three proud words: “Made in America.”

And on all of our efforts to strengthen competitiveness, we need to look for ways to work side-by-side with America’s businesses. That’s why I’ve brought together a Jobs Council of leaders from different industries who are developing a wide range of new ideas to help companies grow and create jobs.

Already, we’ve mobilized business leaders to train 10,000 American engineers a year, by providing company internships and training. Other businesses are covering tuition for workers who learn new skills at community colleges. And we’re going to make sure the next generation of manufacturing takes root not in China or Europe, but right here, in the United States of America. If we provide the right incentives and support – and if we make sure our trading partners play by the rules – we can be the ones to build everything from fuel-efficient cars to advanced biofuels to semiconductors that are sold all over the world. That’s how America can be number one again. That’s how America will be number one again.

Now, I realize that some of you have a different theory on how to grow the economy. Some of you sincerely believe that the only solution to our economic challenges is to simply cut most government spending and eliminate most government regulations.

Well, I agree that we can’t afford wasteful spending, and I will continue to work with Congress to get rid of it. And I agree that there are some rules and regulations that put an unnecessary burden on businesses at a time when they can least afford it. That’s why I ordered a review of all government regulations. So far, we’ve identified over 500 reforms, which will save billions of dollars over the next few years. We should have no more regulation than the health, safety, and security of the American people require. Every rule should meet that common sense test.

But what we can’t do – what I won’t do – is let this economic crisis be used as an excuse to wipe out the basic protections that Americans have counted on for decades. I reject the idea that we need to ask people to choose between their jobs and their safety. I reject the argument that says for the economy to grow, we have to roll back protections that ban hidden fees by credit card companies, or rules that keep our kids from being exposed to mercury, or laws that prevent the health insurance industry from shortchanging patients. I reject the idea that we have to strip away collective bargaining rights to compete in a global economy. We shouldn’t be in a race to the bottom, where we try to offer the cheapest labor and the worst pollution standards. America should be in a race to the top. And I believe that’s a race we can win.

In fact, this larger notion that the only thing we can do to restore prosperity is just dismantle government, refund everyone’s money, let everyone write their own rules, and tell everyone they’re on their own – that’s not who we are. That’s not the story of America.

Yes, we are rugged individualists. Yes, we are strong and self-reliant. And it has been the drive and initiative of our workers and entrepreneurs that has made this economy the engine and envy of the world.

But there has always been another thread running throughout our history – a belief that we are all connected; and that there are some things we can only do together, as a nation.

We all remember Abraham Lincoln as the leader who saved our Union. But in the middle of a Civil War, he was also a leader who looked to the future – a Republican president who mobilized government to build the transcontinental railroad; launch the National Academy of Sciences; and set up the first land grant colleges. And leaders of both parties have followed the example he set.

Ask yourselves – where would we be right now if the people who sat here before us decided not to build our highways and our bridges; our dams and our airports? What would this country be like if we had chosen not to spend money on public high schools, or research universities, or community colleges? Millions of returning heroes, including my grandfather, had the opportunity to go to school because of the GI Bill. Where would we be if they hadn’t had that chance?

How many jobs would it have cost us if past Congresses decided not to support the basic research that led to the Internet and the computer chip? What kind of country would this be if this Chamber had voted down Social Security or Medicare just because it violated some rigid idea about what government could or could not do? How many Americans would have suffered as a result?

No single individual built America on their own. We built it together. We have been, and always will be, one nation, under God, indivisible, with liberty and justice for all; a nation with responsibilities to ourselves and with responsibilities to one another. Members of Congress, it is time for us to meet our responsibilities.

Every proposal I’ve laid out tonight is the kind that’s been supported by Democrats and Republicans in the past. Every proposal I’ve laid out tonight will be paid for. And every proposal is designed to meet the urgent needs of our people and our communities.

I know there’s been a lot of skepticism about whether the politics of the moment will allow us to pass this jobs plan – or any jobs plan. Already, we’re seeing the same old press releases and tweets flying back and forth. Already, the media has proclaimed that it’s impossible to bridge our differences. And maybe some of you have decided that those differences are so great that we can only resolve them at the ballot box.

But know this: the next election is fourteen months away. And the people who sent us here – the people who hired us to work for them – they don’t have the luxury of waiting fourteen months. Some of them are living week to week; paycheck to paycheck; even day to day. They need help, and they need it now.

I don’t pretend that this plan will solve all our problems. It shouldn’t be, nor will it be, the last plan of action we propose. What’s guided us from the start of this crisis hasn’t been the search for a silver bullet. It’s been a commitment to stay at it – to be persistent – to keep trying every new idea that works, and listen to every good proposal, no matter which party comes up with it.

Regardless of the arguments we’ve had in the past, regardless of the arguments we’ll have in the future, this plan is the right thing to do right now. You should pass it. And I intend to take that message to every corner of this country. I also ask every American who agrees to lift your voice and tell the people who are gathered here tonight that you want action now. Tell Washington that doing nothing is not an option. Remind us that if we act as one nation, and one people, we have it within our power to meet this challenge.

President Kennedy once said, “Our problems are man-made – therefore they can be solved by man. And man can be as big as he wants.”

These are difficult years for our country. But we are Americans. We are tougher than the times that we live in, and we are bigger than our politics have been. So let’s meet the moment. Let’s get to work, and show the world once again why the United States of America remains the greatest nation on Earth. Thank you, God bless you, and may God bless the United States of America.

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