History in the Making, First Family Obama

Free Coloring Picture of President Obama, First Lady Michelle Obama and Queen of England

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President Obama talking to the Hispanic Chamber of Commerce about Eductation Free Coloring Picture

Washington Marriott Metro Center

Washington, D.C.

9:54 A.M. EDT

THE PRESIDENT: Thank you. (Applause.) Si se puede.

AUDIENCE: Si se puede! Si se puede! Si se puede!

THE PRESIDENT: Thank you. Thank you so much. Please, everybody have a seat. Thank you for the wonderful introduction, David. And thank you for the great work that you are doing each and every day. And I appreciate such a warm welcome. Some of you I’ve gotten a chance to know; many of you I’m meeting for the first time. But the spirit of the U.S. Hispanic Chamber of Commerce, the desire to create jobs and provide opportunity to people who sometimes have been left out — that’s exactly what this administration is about. That’s the essence of the American Dream. And so I’m very proud to have a chance to speak with all of you.

You know, every so often, throughout our history, a generation of Americans bears the responsibility of seeing this country through difficult times and protecting the dream of its founding for posterity. This is a responsibility that’s fallen to our generation. Meeting it will require steering our nation’s economy through a crisis unlike anything that we have seen in our time.

In the short term, that means jump-starting job creation and restarting lending, and restoring confidence in our markets and our financial system. But it also means taking steps that not only advance our recovery, but lay the foundation for lasting, shared prosperity.

I know there’s some who believe we can only handle one challenge at a time. And they forget that Lincoln helped lay down the transcontinental railroad and passed the Homestead Act and created the National Academy of Sciences in the midst of civil war. Likewise, President Roosevelt didn’t have the luxury of choosing between ending a depression and fighting a war; he had to do both. President Kennedy didn’t have the luxury of choosing between civil rights and sending us to the moon. And we don’t have the luxury of choosing between getting our economy moving now and rebuilding it over the long term.

America will not remain true to its highest ideals — and America’s place as a global economic leader will be put at risk — unless we not only bring down the crushing cost of health care and transform the way we use energy, but also if we do — if we don’t do a far better job than we’ve been doing of educating our sons and daughters; unless we give them the knowledge and skills they need in this new and changing world.

For we know that economic progress and educational achievement have always gone hand in hand in America. The land-grant colleges and public high schools transformed the economy of an industrializing nation. The GI Bill generated a middle class that made America’s economy unrivaled in the 20th century. Investments in math and science under President Eisenhower gave new opportunities to young scientists and engineers all across the country. It made possible somebody like a Sergei Brin to attend graduate school and found an upstart company called Google that would forever change our world.

The source of America’s prosperity has never been merely how ably we accumulate wealth, but how well we educate our people. This has never been more true than it is today. In a 21st-century world where jobs can be shipped wherever there’s an Internet connection, where a child born in Dallas is now competing with a child in New Delhi, where your best job qualification is not what you do, but what you know — education is no longer just a pathway to opportunity and success, it’s a prerequisite for success.

That’s why workers without a four-year degree have borne the brunt of recent layoffs, Latinos most of all. That’s why, of the 30 fastest growing occupations in America, half require a Bachelor’s degree or more. By 2016, four out of every 10 new jobs will require at least some advanced education or training.

So let there be no doubt: The future belongs to the nation that best educates its citizens — and my fellow Americans, we have everything we need to be that nation. We have the best universities, the most renowned scholars. We have innovative principals and passionate teachers and gifted students, and we have parents whose only priority is their child’s education. We have a legacy of excellence, and an unwavering belief that our children should climb higher than we did.

And yet, despite resources that are unmatched anywhere in the world, we’ve let our grades slip, our schools crumble, our teacher quality fall short, and other nations outpace us. Let me give you a few statistics. In 8th grade math, we’ve fallen to 9th place. Singapore’s middle-schoolers outperform ours three to one. Just a third of our 13- and 14-year-olds can read as well as they should. And year after year, a stubborn gap persists between how well white students are doing compared to their African American and Latino classmates. The relative decline of American education is untenable for our economy, it’s unsustainable for our democracy, it’s unacceptable for our children — and we can’t afford to let it continue.

What’s at stake is nothing less than the American Dream. It’s what drew my father and so many of your fathers and mothers to our shores in pursuit of an education. It’s what led Linda Brown and Gonzalo and Felicitas Mendez to bear the standard of all who were attending separate and unequal schools. It’s what has led generations of Americans to take on that extra job, to sacrifice the small pleasures, to scrimp and save wherever they can, in hopes of putting away enough, just enough, to give their child the education that they never had. It’s that most American of ideas, that with the right education, a child of any race, any faith, any station, can overcome whatever barriers stand in their way and fulfill their God-given potential. (Applause.)

Of course, we’ve heard all this year after year after year after year — and far too little has changed. Certainly it hasn’t changed in too many overcrowded Latino schools; it hasn’t changed in too many inner-city schools that are seeing dropout rates of over 50 percent. It’s not changing not because we’re lacking sound ideas or sensible plans — in pockets of excellence across this country, we’re seeing what children from all walks of life can and will achieve when we set high standards, have high expectations, when we do a good job of preparing them. Instead, it’s because politics and ideology have too often trumped our progress that we’re in the situation that we’re in.

For decades, Washington has been trapped in the same stale debates that have paralyzed progress and perpetuated our educational decline. Too many supporters of my party have resisted the idea of rewarding excellence in teaching with extra pay, even though we know it can make a difference in the classroom. Too many in the Republican Party have opposed new investments in early education, despite compelling evidence of its importance. So what we get here in Washington is the same old debate about it’s more money versus more reform, vouchers versus the status quo. There’s been partisanship and petty bickering, but little recognition that we need to move beyond the worn fights of the 20th century if we’re going to succeed in the 21st century. (Applause.)

I think you’d all agree that the time for finger-pointing is over. The time for holding us — holding ourselves accountable is here. What’s required is not simply new investments, but new reforms. It’s time to expect more from our students. It’s time to start rewarding good teachers, stop making excuses for bad ones. It’s time to demand results from government at every level. It’s time to prepare every child, everywhere in America, to out-compete any worker, anywhere in the world. (Applause.) It’s time to give all Americans a complete and competitive education from the cradle up through a career. We’ve accepted failure for far too long. Enough is enough. America’s entire education system must once more be the envy of the world — and that’s exactly what we intend to do.

That’s exactly what the budget I’m submitting to Congress has begun to achieve. Now, at a time when we’ve inherited a trillion-dollar deficit, we will start by doing a little housekeeping, going through our books, cutting wasteful education programs. My outstanding Secretary of Education, Arne Duncan, who’s here today — stand up, Arne, so everybody can see you. (Applause.) I’m assuming you also saw my Secretary of Labor, Hilda Solis. (Applause.) But Secretary Duncan will use only one test when deciding what ideas to support with your precious tax dollars: It’s not whether an idea is liberal or conservative, but whether it works. And this will help free up resources for the first pillar of reforming our schools — investing in early childhood initiatives.

This isn’t just about keeping an eye on our children, it’s about educating them. Studies show that children in early childhood education programs are more likely to score higher in reading and math, more likely to graduate from high school and attend college, more likely to hold a job, and more likely to earn more in that job. For every dollar we invest in these programs, we get nearly $10 back in reduced welfare rolls, fewer health care costs, and less crime. That’s why the American Recovery and Reinvestment Act that I signed into law invests $5 billion in growing Early Head Start and Head Start, expanding access to quality child care for 150,000 more children from working families, and doing more for children with special needs. And that’s why we are going to offer 55,000 first-time parents regular visits from trained nurses to help make sure their children are healthy and prepare them for school and for life. (Applause.)

Even as we invest in early childhood education, let’s raise the bar for early learning programs that are falling short. Now, today, some children are enrolled in excellent programs. Some children are enrolled in mediocre programs. And some are wasting away their most formative years in bad programs. That includes the one-fourth of all children who are Hispanic, and who will drive America’s workforce of tomorrow, but who are less likely to have been enrolled in an early childhood education program than anyone else.

That’s why I’m issuing a challenge to our states: Develop a cutting-edge plan to raise the quality of your early learning programs; show us how you’ll work to ensure that children are better prepared for success by the time they enter kindergarten. If you do, we will support you with an Early Learning Challenge Grant that I call on Congress to enact. That’s how we will reward quality and incentivize excellence, and make a down payment on the success of the next generation.

So that’s the first pillar of our education reform agenda. The second, we will end what has become a race to the bottom in our schools and instead spur a race to the top by encouraging better standards and assessments. Now, this is an area where we are being outpaced by other nations. It’s not that their kids are any smarter than ours — it’s that they are being smarter about how to educate their children. They’re spending less time teaching things that don’t matter, and more time teaching things that do. They’re preparing their students not only for high school or college, but for a career. We are not. Our curriculum for 8th graders is two full years behind top performing countries. That’s a prescription for economic decline. And I refuse to accept that America’s children cannot rise to this challenge. They can, and they must, and they will meet higher standards in our time. (Applause.)

So let’s challenge our states — let’s challenge our states to adopt world-class standards that will bring our curriculums to the 21st century. Today’s system of 50 different sets of benchmarks for academic success means 4th grade readers in Mississippi are scoring nearly 70 points lower than students in Wyoming — and they’re getting the same grade. Eight of our states are setting their standards so low that their students may end up on par with roughly the bottom 40 percent of the world.

That’s inexcusable. That’s why I’m calling on states that are setting their standards far below where they ought to be to stop low-balling expectations for our kids. The solution to low test scores is not lowering standards — it’s tougher, clearer standards. (Applause.) Standards like those in Massachusetts, where 8th graders are — (applause) — we have a Massachusetts contingent here. (Laughter.) In Massachusetts, 8th graders are now tying for first — first in the whole world in science. Other forward-thinking states are moving in the same direction by coming together as part of a consortium. And more states need to do the same. And I’m calling on our nation’s governors and state education chiefs to develop standards and assessments that don’t simply measure whether students can fill in a bubble on a test, but whether they possess 21st century skills like problem-solving and critical thinking and entrepreneurship and creativity.

That is what we’ll help them do later this year — that what we’re going to help them do later this year when we finally make No Child Left Behind live up to its name by ensuring not only that teachers and principals get the funding that they need, but that the money is tied to results. (Applause.) And Arne Duncan will also back up this commitment to higher standards with a fund to invest in innovation in our school districts.

Of course, raising standards alone will not make much of a difference unless we provide teachers and principals with the information they need to make sure students are prepared to meet those standards. And far too few states have data systems like the one in Florida that keep track of a student’s education from childhood through college. And far too few districts are emulating the example of Houston and Long Beach, and using data to track how much progress a student is making and where that student is struggling. That’s a resource that can help us improve student achievement, and tell us which students had which teachers so we can assess what’s working and what’s not. That’s why we’re making a major investment in this area that we will cultivate a new culture of accountability in America’s schools.

Now, to complete our race to the top requires the third pillar of reform — recruiting, preparing, and rewarding outstanding teachers. From the moment students enter a school, the most important factor in their success is not the color of their skin or the income of their parents, it’s the person standing at the front of the classroom. That’s why our Recovery Act will ensure that hundreds of thousands of teachers and school personnel are not laid off — because those Americans are not only doing jobs they can’t afford to lose, they’re rendering a service our nation cannot afford to lose, either. (Applause.)

America’s future depends on its teachers. And so today, I’m calling on a new generation of Americans to step forward and serve our country in our classrooms. If you want to make a difference in the life of our nation, if you want to make the most of your talents and dedication, if you want to make your mark with a legacy that will endure — then join the teaching profession. America needs you. We need you in our suburbs. We need you in our small towns. We especially need you in our inner cities. We need you in classrooms all across our country.

And if you do your part, then we’ll do ours. That’s why we’re taking steps to prepare teachers for their difficult responsibilities, and encourage them to stay in the profession. That’s why we’re creating new pathways to teaching and new incentives to bring teachers to schools where they’re needed most. That’s why we support offering extra pay to Americans who teach math and science to end a teacher shortage in those subjects. It’s why we’re building on the promising work being done in places like South Carolina’s Teachers Advancement Program, and making an unprecedented commitment to ensure that anyone entrusted with educating our children is doing the job as well as it can be done.

Now, here’s what that commitment means: It means treating teachers like the professionals they are while also holding them more accountable -– in up to 150 more school districts. New teachers will be mentored by experienced ones. Good teachers will be rewarded with more money for improved student achievement, and asked to accept more responsibilities for lifting up their schools. Teachers throughout a school will benefit from guidance and support to help them improve.

And just as we’ve given our teachers all the support they need to be successful, we need to make sure our students have the teacher they need to be successful. And that means states and school districts taking steps to move bad teachers out of the classroom. But let me be clear — (applause.) Let me be clear — the overwhelming number of teachers are doing an outstanding job under difficult circumstances. My sister is a teacher, so I know how tough teaching can be. But let me be clear: If a teacher is given a chance or two chances or three chances but still does not improve, there’s no excuse for that person to continue teaching. I reject a system that rewards failure and protects a person from its consequences. The stakes are too high. We can afford nothing but the best when it comes to our children’s teachers and the schools where they teach. (Applause.)

Now, that leads me to the fourth part of America’s education strategy –- promoting innovation and excellence in America’s schools. One of the places where much of that innovation occurs is in our most effective charter schools. And these are public schools founded by parents, teachers, and civic or community organizations with broad leeway to innovate -– schools I supported as a state legislator and a United States senator.

But right now, there are many caps on how many charter schools are allowed in some states, no matter how well they’re preparing our students. That isn’t good for our children, our economy, or our country. Of course, any expansion of charter schools must not result in the spread of mediocrity, but in the advancement of excellence. And that will require states adopting both a rigorous selection and review process to ensure that a charter school’s autonomy is coupled with greater accountability –- as well as a strategy, like the one in Chicago, to close charter schools that are not working. Provided this greater accountability, I call on states to reform their charter rules, and lift caps on the number of allowable charter schools, wherever such caps are in place.

Now, even as we foster innovation in where our children are learning, let’s also foster innovation in when our children are learning. We can no longer afford an academic calendar designed for when America was a nation of farmers who needed their children at home plowing the land at the end of each day. That calendar may have once made sense, but today it puts us at a competitive disadvantage. Our children — listen to this — our children spend over a month less in school than children in South Korea — every year. That’s no way to prepare them for a 21st century economy. That’s why I’m calling for us not only to expand effective after-school programs, but to rethink the school day to incorporate more time -– whether during the summer or through expanded-day programs for children who need it. (Applause.)

Now, I know longer school days and school years are not wildly popular ideas. (Laughter.) Not with Malia and Sasha — (laughter) — not in my family, and probably not in yours. But the challenges of a new century demand more time in the classroom. If they can do that in South Korea, we can do it right here in the United States of America.

Of course, no matter how innovative our schools or how effective our teachers, America cannot succeed unless our students take responsibility for their own education. That means showing up for school on time, paying attention in class, seeking out extra tutoring if it’s needed, staying out of trouble. To any student who’s watching, I say this: Don’t even think about dropping out of school. Don’t even think about it. (Applause.)

As I said a couple of weeks ago, dropping out is quitting on yourself, it’s quitting on your country, and it’s not an option — not anymore. Not when our high school dropout rate has tripled in the past 30 years. Not when high school dropouts earn about half as much as college graduates. Not when Latino students are dropping out faster than just about anyone else. It’s time for all of us, no matter what our backgrounds, to come together and solve this epidemic.

Stemming the tide of dropouts will require turning around our low-performing schools. Just 2,000 high schools in cities like Detroit and Los Angeles and Philadelphia produce over 50 percent of America’s dropouts. And yet there are too few proven strategies to transform these schools. And there are too few partners to get the job done.

So today, I’m issuing a challenge to educators and lawmakers, parents and teachers alike: Let us all make turning around our schools our collective responsibility as Americans. And that will require new investments in innovative ideas — that’s why my budget invests in developing new strategies to make sure at-risk students don’t give up on their education; new efforts to give dropouts who want to return to school the help they need to graduate; and new ways to put those young men and women who have left school back on a pathway to graduation.

Now, the fifth part of America’s education strategy is providing every American with a quality higher education -– whether it’s college or technical training. Never has a college degree been more important. Never has it been more expensive. And at a time when so many of our families are bearing enormous economic burdens, the rising cost of tuition threatens to shatter dreams. And that’s why we will simplify federal college assistance forms so it doesn’t take a Ph.D to apply for financial aid. (Applause.)

That’s why we’re already taking steps to make college or technical training affordable. For the first time ever, Pell Grants will not be subject to the politics of the moment or the whim of the market –- they will be a commitment that Congress is required to uphold each and every year. (Applause.) Not only that; because rising costs mean Pell Grants cover less than half as much tuition as they did 30 years ago, we’re raising the maximum Pell Grant to $5,550 a year and indexing it above inflation. We’re also providing a $2,500-a-year tuition tax credit for students from working families. And we’re modernizing and expanding the Perkins Loan Program to make sure schools like UNLV don’t get a tenth as many Perkins loans as schools like Harvard.

To help pay for all of this, we’re putting students ahead of lenders by eliminating wasteful student loan subsidies that cost taxpayers billions each year. All in all, we are making college affordable for 7 million more students with a sweeping investment in our children’s futures and America’s success. And I call on Congress to join me and the American people by making these investments possible. (Applause.)

This is how we will help meet our responsibility as a nation to open the doors of college to every American. But it will also be the responsibility of colleges and universities to control spiraling costs. We can’t just keep on putting more money in and universities and colleges not doing their part to hold down tuitions. And it’s the responsibility of our students to walk through the doors of opportunity.

In just a single generation, America has fallen from 2nd place to 11th place in the portion of students completing college. That is unfortunate, but it’s by no means irreversible. With resolve and the right investments, we can retake the lead once more. And that’s why, in my address to the nation the other week, I called on Americans to commit to at least one year or more of higher education or career training, with the goal of having the highest proportion of college graduates in the world by the year 2020. And to meet that goal, we are investing $2.5 billion to identify and support innovative initiatives across the country that achieve results in helping students persist and graduate.

So let’s not stop at education with college. Let’s recognize a 21st century reality: Learning doesn’t end in our early 20s. Adults of all ages need opportunities to earn new degrees and new skills — especially in the current economic environment. That means working with all our universities and schools, including community colleges — a great and undervalued asset — to prepare workers for good jobs in high-growth industries; and to improve access to job training not only for young people who are just starting their careers, but for older workers who need new skills to change careers. And that’s going to be one of the key tasks that Secretary Solis is involved with, is making sure that lifelong learning is a reality and a possibility for more Americans.

It’s through initiatives like these that we’ll see more Americans earn a college degree, or receive advanced training, and pursue a successful career. And that’s why I’m calling on Congress to work with me to enact these essential reforms, and to reauthorize the Workforce Reinvestment Act. That’s how we will round out a complete and competitive education in the United States of America.

So here’s the bottom line: Yes, we need more money; yes, we need more reform; yes, we need to hold ourselves more accountable for every dollar we spend. But there’s one more ingredient I want to talk about. No government policy will make any difference unless we also hold ourselves more accountable as parents — because government, no matter how wise or efficient, cannot turn off the TV or put away the video games. Teachers, no matter how dedicated or effective, cannot make sure your child leaves for school on time and does their homework when they get back at night. These are things only a parent can do. These are things that our parents must do.

I say this not only as a father, but also as a son. When I was a child my mother and I lived overseas, and she didn’t have the money to send me to the fancy international school where all the American kids went to school. So what she did was she supplemented my schooling with lessons from a correspondence course. And I can still picture her waking me up at 4:30 a.m., five days a week, to go over some lessons before I went to school. And whenever I’d complain and grumble and find some excuse and say, “Awww, I’m sleepy,” she’d patiently repeat to me her most powerful defense. She’d say, “This is no picnic for me either, buster.” (Laughter and applause.)

And when you’re a kid you don’t think about the sacrifices they’re making. She had to work; I just had to go to school. But she’d still wake up every day to make sure I was getting what I needed for my education. And it’s because she did this day after day, week after week, because of all the other opportunities and breaks that I got along the way, all the sacrifices that my grandmother and my grandfather made along the way, that I can stand here today as President of the United States. It’s because of the sacrifices — (applause.) See, I want every child in this country to have the same chance that my mother gave me, that my teachers gave me, that my college professors gave me, that America gave me.

You know these stories; you’ve lived them, as well. All of you have a similar story to tell. You know, it’s — I want children like Yvonne Bojorquez to have that chance. Yvonne is a student at Village Academy High School in California. Now, Village Academy is a 21st century school where cutting edge technologies are used in the classroom, where college prep and career training are offered to all who seek it, and where the motto is “respect, responsibility, and results.”

Now, a couple of months ago, Yvonne and her class made a video talking about the impact that our struggling economy was having on their lives. And some of them spoke about their parents being laid off, or their homes facing foreclosure, or their inability to focus on school with everything that was happening at home. And when it was her turn to speak, Yvonne said: “We’ve all been affected by this economic crisis. [We] are all college bound students; we’re all businessmen, and doctors and lawyers and all this great stuff. And we have all this potential — but the way things are going, we’re not going to be able to [fulfill it].”

It was heartbreaking that a girl so full of promise was so full of worry that she and her class titled their video, “Is anybody listening?” So, today, there’s something I want to say to Yvonne and her class at Village Academy: I am listening. We are listening. America is listening. (Applause.) And we will not rest until your parents can keep your jobs — we will not rest until your parents can keep their jobs and your families can keep their homes, and you can focus on what you should be focusing on — your own education; until you can become the businessmen, doctors, and lawyers of tomorrow, until you can reach out and grasp your dreams for the future.

For in the end, Yvonne’s dream is a dream shared by all Americans. It’s the founding promise of our nation: That we can make of our lives what we will; that all things are possible for all people; and that here in America, our best days lie ahead. I believe that. I truly believe if I do my part, and you, the American people, do yours, then we will emerge from this crisis a stronger nation, and pass the dream of our founding on to posterity, ever safer than before. (Applause.)

Thank you very much. God bless you. God bless the United States of America. Thank you. (Applause.)

END 10:20 A.M. EDT

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Remarks of President Barack Obama – Responsibly Ending the War in Iraq

Remarks of President Barack Obama – As Prepared for Delivery
Responsibly Ending the War in Iraq
Camp Lejeune, North Carolina
Friday, February 27, 2009

Good morning Marines. Good morning Camp Lejeune. Good morning Jacksonville. Thank you for that outstanding welcome. I want to thank Lieutenant General Hejlik for hosting me here today.

I also want to acknowledge all of our soldiers, sailors, airmen and Marines serving in Iraq and Afghanistan. That includes the Camp Lejeune Marines now serving with – or soon joining – the Second Marine Expeditionary Force in Iraq; those with Special Purpose Marine Air Ground Task Force in Afghanistan; and those among the 8,000 Marines who are preparing to deploy to Afghanistan. We have you in our prayers. We pay tribute to your service. We thank you and your families for all that you do for America. And I want all of you to know that there is no higher honor or greater responsibility than serving as your Commander-in-Chief.

I also want to take this opportunity to acknowledge Ryan Crocker, who recently completed his service as our Ambassador to Iraq. Throughout his career, Ryan always took on the toughest assignments. He is an example of the very best that this nation has to offer, and we owe him a great debt of gratitude. He carried on his work with an extraordinary degree of cooperation with two of our finest Generals – General David Petraeus, and General Ray Odierno – who will be critical in carrying forward the strategy that I will outline today.

Next month will mark the sixth anniversary of the war in Iraq. By any measure, this has already been a long war. For the men and women of America’s armed forces – and for your families – this war has been one of the most extraordinary chapters of service in the history of our nation. You have endured tour after tour after tour of duty. You have known the dangers of combat and the lonely distance of loved ones. You have fought against tyranny and disorder. You have bled for your best friends and for unknown Iraqis. And you have borne an enormous burden for your fellow citizens, while extending a precious opportunity to the people of Iraq. Under tough circumstances, the men and women of the United States military have served with honor, and succeeded beyond any expectation.

Today, I have come to speak to you about how the war in Iraq will end.

To understand where we need to go in Iraq, it is important for the American people to understand where we now stand. Thanks in great measure to your service, the situation in Iraq has improved. Violence has been reduced substantially from the horrific sectarian killing of 2006 and 2007. Al Qaeda in Iraq has been dealt a serious blow by our troops and Iraq’s Security Forces, and through our partnership with Sunni Arabs. The capacity of Iraq’s Security Forces has improved, and Iraq’s leaders have taken steps toward political accommodation. The relative peace and strong participation in January’s provincial elections sent a powerful message to the world about how far Iraqis have come in pursuing their aspirations through a peaceful political process.

But let there be no doubt: Iraq is not yet secure, and there will be difficult days ahead. Violence will continue to be a part of life in Iraq. Too many fundamental political questions about Iraq’s future remain unresolved. Too many Iraqis are still displaced or destitute. Declining oil revenues will put an added strain on a government that has had difficulty delivering basic services. Not all of Iraq’s neighbors are contributing to its security. Some are working at times to undermine it. And even as Iraq’s government is on a surer footing, it is not yet a full partner – politically and economically – in the region, or with the international community

In short, today there is a renewed cause for hope in Iraq, but that hope rests upon an emerging foundation.

On my first full day in office, I directed my national security team to undertake a comprehensive review of our strategy in Iraq to determine the best way to strengthen that foundation, while strengthening American national security. I have listened to my Secretary of Defense, the Joint Chiefs of Staff, and commanders on the ground. We have acted with careful consideration of events on the ground; with respect for the security agreements between the United States and Iraq; and with a critical recognition that the long-term solution in Iraq must be political – not military. Because the most important decisions that have to be made about Iraq’s future must now be made by Iraqis.

We have also taken into account the simple reality that America can no longer afford to see Iraq in isolation from other priorities: we face the challenge of refocusing on Afghanistan and Pakistan; of relieving the burden on our military; and of rebuilding our struggling economy – and these are challenges that we will meet.

Today, I can announce that our review is complete, and that the United States will pursue a new strategy to end the war in Iraq through a transition to full Iraqi responsibility.

This strategy is grounded in a clear and achievable goal shared by the Iraqi people and the American people: an Iraq that is sovereign, stable, and self-reliant. To achieve that goal, we will work to promote an Iraqi government that is just, representative, and accountable, and that provides neither support nor safe-haven to terrorists. We will help Iraq build new ties of trade and commerce with the world. And we will forge a partnership with the people and government of Iraq that contributes to the peace and security of the region.

What we will not do is let the pursuit of the perfect stand in the way of achievable goals. We cannot rid Iraq of all who oppose America or sympathize with our adversaries. We cannot police Iraq’s streets until they are completely safe, nor stay until Iraq’s union is perfected. We cannot sustain indefinitely a commitment that has put a strain on our military, and will cost the American people nearly a trillion dollars. America’s men and women in uniform have fought block by block, province by province, year after year, to give the Iraqis this chance to choose a better future. Now, we must ask the Iraqi people to seize it.

The first part of this strategy is therefore the responsible removal of our combat brigades from Iraq.

As a candidate for President, I made clear my support for a timeline of 16 months to carry out this drawdown, while pledging to consult closely with our military commanders upon taking office to ensure that we preserve the gains we’ve made and protect our troops. Those consultations are now complete, and I have chosen a timeline that will remove our combat brigades over the next 18 months.

Let me say this as plainly as I can: by August 31, 2010, our combat mission in Iraq will end.

As we carry out this drawdown, my highest priority will be the safety and security of our troops and civilians in Iraq. We will proceed carefully, and I will consult closely with my military commanders on the ground and with the Iraqi government. There will surely be difficult periods and tactical adjustments. But our enemies should be left with no doubt: this plan gives our military the forces and the flexibility they need to support our Iraqi partners, and to succeed.

After we remove our combat brigades, our mission will change from combat to supporting the Iraqi government and its Security Forces as they take the absolute lead in securing their country. As I have long said, we will retain a transitional force to carry out three distinct functions: training, equipping, and advising Iraqi Security Forces as long as they remain non-sectarian; conducting targeted counter-terrorism missions; and protecting our ongoing civilian and military efforts within Iraq. Initially, this force will likely be made up of 35-50,000 U.S. troops.

Through this period of transition, we will carry out further redeployments. And under the Status of Forces Agreement with the Iraqi government, I intend to remove all U.S. troops from Iraq by the end of 2011. We will complete this transition to Iraqi responsibility, and we will bring our troops home with the honor that they have earned.

As we responsibly remove our combat brigades, we will pursue the second part of our strategy: sustained diplomacy on behalf of a more peaceful and prosperous Iraq.

The drawdown of our military should send a clear signal that Iraq’s future is now its own responsibility. The long-term success of the Iraqi nation will depend upon decisions made by Iraq’s leaders and the fortitude of the Iraqi people. Iraq is a sovereign country with legitimate institutions; America cannot – and should not – take their place. However, a strong political, diplomatic, and civilian effort on our part can advance progress and help lay a foundation for lasting peace and security.

This effort will be led by our new Ambassador to Iraq – Chris Hill. From his time in the Peace Corps, to his work in Kosovo and Korea, Ambassador Hill has been tested, and he has shown the pragmatism and skill that we need right now. He will be supported by the courageous and capable work of so many American diplomats and aid workers who are serving in Iraq.

Going forward, we can make a difference on several fronts. We will work with the United Nations to support national elections, while helping Iraqis improve local government. We can serve as an honest broker in pursuit of fair and durable agreements on issues that have divided Iraq’s leaders. And just as we will support Iraq’s Security Forces, we will help Iraqi institutions strengthen their capacity to protect the rule of law, confront corruption, and deliver basic services.

Diplomacy and assistance is also required to help the millions of displaced Iraqis. These men, women and children are a living consequence of this war and a challenge to stability in the region, and they must become a part of Iraq’s reconciliation and recovery. America has a strategic interest – and a moral responsibility – to act. In the coming months, my administration will provide more assistance and take steps to increase international support for countries already hosting refugees; we’ll cooperate with others to resettle Iraqis facing great personal risk; and we will work with the Iraqi government over time to resettle refugees and displaced Iraqis within Iraq – because there are few more powerful indicators of lasting peace than displaced citizens returning home.

Now, before I go any further, I want to take a moment to speak directly to the people of Iraq.

You are a great nation, rooted in the cradle of civilization. You are joined together by enduring accomplishments, and a history that connects you as surely as the two rivers carved into your land. In years past, you have persevered through tyranny and terror; through personal insecurity and sectarian violence. And instead of giving in to the forces of disunion, you stepped back from a descent into civil war, and showed a proud resilience that deserves respect.

Our nations have known difficult times together. But ours is a bond forged by shared bloodshed, and countless friendships among our people. We Americans have offered our most precious resource – our young men and women – to work with you to rebuild what was destroyed by despotism; to root out our common enemies; and to seek peace and prosperity for our children and grandchildren, and for yours.

There are those who will try to prevent that future for Iraq – who will insist that Iraq’s differences cannot be reconciled without more killing. They represent the forces that destroy nations and lead only to despair, and they will test our will in the months and years to come. America, too, has known these forces. We endured the pain of Civil War, and bitter divisions of region and race. But hostility and hatred are no match for justice; they offer no pathway to peace; and they must not stand between the people of Iraq and a future of reconciliation and hope.

So to the Iraqi people, let me be clear about America’s intentions. The United States pursues no claim on your territory or your resources. We respect your sovereignty and the tremendous sacrifices you have made for your country. We seek a full transition to Iraqi responsibility for the security of your country. And going forward, we can build a lasting relationship founded upon mutual interests and mutual respect as Iraq takes its rightful place in the community of nations.

That leads me to the third part of our strategy –comprehensive American engagement across the region.

The future of Iraq is inseparable from the future of the broader Middle East, so we must work with our friends and partners to establish a new framework that advances Iraq’s security and the region’s. It is time for Iraq to be a full partner in a regional dialogue, and for Iraq’s neighbors to establish productive and normalized relations with Iraq. And going forward, the United States will pursue principled and sustained engagement with all of the nations in the region, and that will include Iran and Syria.

This reflects a fundamental truth: we can no longer deal with regional challenges in isolation – we need a smarter, more sustainable and comprehensive approach. That is why we are renewing our diplomacy, while relieving the burden on our military. That is why we are refocusing on al Qaeda in Afghanistan and Pakistan; developing a strategy to use all elements of American power to prevent Iran from developing a nuclear weapon; and actively seeking a lasting peace between Israel and the Arab world.  And that is why we have named three of America’s most accomplished diplomats – George Mitchell, Dennis Ross and Richard Holbrooke – to support Secretary Clinton and me as we carry forward this agenda.

Every nation and every group must know – whether you wish America good or ill – that the end of the war in Iraq will enable a new era of American leadership and engagement in the Middle East. And that era has just begun.

Finally, I want to be very clear that my strategy for ending the war in Iraq does not end with military plans or diplomatic agendas – it endures through our commitment to uphold our sacred trust with every man and woman who has served in Iraq.

You make up a fraction of the American population, but in an age when so many people and institutions have acted irresponsibly, you did the opposite – you volunteered to bear the heaviest burden. And for you and for your families, the war does not end when you come home. It lives on in memories of your fellow soldiers, sailors, airmen and Marines who gave their lives. It endures in the wound that is slow to heal, the disability that isn’t going away, the dream that wakes you at night, or the stiffening in your spine when a car backfires down the street.

You and your families have done your duty – now a grateful nation must do ours. That is why I am increasing the number of soldiers and Marines, so that we lessen the burden on those who are serving. And that is why I have committed to expanding our system of veterans health care to serve more patients, and to provide better care in more places. We will continue building new wounded warrior facilities across America, and invest in new ways of identifying and treating the signature wounds of this war: Post-Traumatic Stress Disorder and Traumatic Brain Injury, as well as other combat injuries.

We also know that service does not end with the person wearing the uniform. In her visits with military families across the country, my wife Michelle has learned firsthand about the unique burden that your families endure every day. I want you to know this: military families are a top priority for Michelle and me, and they will be a top priority for my administration. We’ll raise military pay, and continue providing quality child-care, job-training for spouses, and expanded counseling and outreach to families that have known the separation and stress of war. We will also heed the lesson of history – that those who fight in battle can form the backbone of our middle class – by implementing a 21st century GI Bill to help our veterans live their dreams.

As a nation, we have had our share of debates about the war in Iraq. It has, at times, divided us as a people. To this very day, there are some Americans who want to stay in Iraq longer, and some who want to leave faster. But there should be no disagreement on what the men and women of our military have achieved.

And so I want to be very clear: We sent our troops to Iraq to do away with Saddam Hussein’s regime – and you got the job done. We kept our troops in Iraq to help establish a sovereign government – and you got the job done. And we will leave the Iraqi people with a hard-earned opportunity to live a better life – that is your achievement; that is the prospect that you have made possible.

There are many lessons to be learned from what we’ve experienced. We have learned that America must go to war with clearly defined goals, which is why I’ve ordered a review of our policy in Afghanistan. We have learned that we must always weigh the costs of action, and communicate those costs candidly to the American people, which is why I’ve put Iraq and Afghanistan into my budget. We have learned that in the 21st century, we must use all elements of American power to achieve our objectives, which is why I am committed to building our civilian national security capacity so that the burden is not continually pushed on to our military. We have learned that our political leaders must pursue the broad and bipartisan support that our national security policies depend upon, which is why I will consult with Congress and in carrying out my plans. And we have learned the importance of working closely with friends and allies, which is why we are launching a new era of engagement in the world.

The starting point for our policies must always be the safety of the American people. I know that you – the men and women of the finest fighting force in the history of the world – can meet any challenge, and defeat any foe. And as long as I am your Commander-in-Chief, I promise you that I will only send you into harm’s way when it is absolutely necessary, and provide you with the equipment and support you need to get the job done. That is the most important lesson of all – for the consequences of war are dire, the sacrifices immeasurable.

You know because you have seen those sacrifices. You have lived them. And we all honor them.

“Semper Fidelis” – it means always being faithful to Corps, and to country, and to the memory of fallen comrades like Corporal Jonathan Yale and Lance Corporal Jordan Haerter. These young men enlisted in a time of war, knowing they would face great danger. They came here, to Camp Lejeune, as they trained for their mission. And last April, they were standing guard in Anbar. In an age when suicide is a weapon, they were suddenly faced with an oncoming truck filled with explosives. These two Marines stood their ground. These two Marines opened fire. And these two Marines stopped that truck. When the thousands of pounds of explosives detonated, they had saved fifty Marines and Iraqi police who would have been in the truck’s path, but Corporal Yale and Lance Corporal Haerter lost their own lives. Jonathan was 21. Jordan was 19.

In the town where Jordan Haerter was from, a bridge was dedicated in his name. One Marine who traveled to the ceremony said: “We flew here from all over the country to pay tribute to our friend Jordan, who risked his life to save us. We wouldn’t be here without him.”

America’s time in Iraq is filled with stories of men and women like this. Their names are written into bridges and town squares. They are etched into stones at Arlington, and in quiet places of rest across our land. They are spoken in schools and on city blocks. They live on in the memories of those who wear your uniform, in the hearts of those they loved, and in the freedom of the nation they served.

Each American who has served in Iraq has their own story. Each of you has your own story. And that story is now a part of the history of the United States of America – a nation that exists only because free men and women have bled for it from the beaches of Normandy to the deserts of Anbar; from the mountains of Korea to the streets of Kandahar. You teach us that the price of freedom is great. Your sacrifice should challenge all of us – every single American – to ask what we can do to be better citizens.

There will be more danger in the months ahead. We will face new tests and unforeseen trials. But thanks to the sacrifices of those who have served, we have forged hard-earned progress, we are leaving Iraq to its people, and we have begun the work of ending this war.

Thank you, God Bless you, and God Bless the United States of America. Semper Fi.

Coloring book page of a picture from the above event, below:

Speaking to the Military about Ending Troops in Iraq Responsibly Free Coloring Page

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Another coloring pic of the Obamas and others enjoying concert at White House by Stevie Wonder

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President Barack Obama gives Stevie Wonder an Award at the White House

“I think it’s fair to say that had I not been a Stevie Wonder fan, Michelle might not have dated me. We might not have married. The fact that we agreed on Stevie was part of the essence of our courtship,” President Obama said last night at a White House ceremony presenting the singer with the 2nd annual Gershwin Award for Lifetime Achievement from the Library of Congress.

The First Lady echoed her husband’s sentiments.

“Tonight it is a huge thrill for me as we honor a man whose music and lyrics I fell in love with when I was a little girl,” she said. “Years later, I discovered what Stevie meant when he sang about love. Barack and I chose the song, ‘You and I’ as our wedding song.”

An all-star lineup of singers performed some of Wonder’s biggest hits, including Tony Bennett, Diana Krall, Will.i.am, and Paul Simon (who won the first Gershwin Award last year).

“I accept this in memory of my mother. I know that Lula Mae is smiling right now,” Wonder said. “And Mr. President, I know that if she were here, she’d say, let me get him a peach cobbler.  And she would say ‘peach cobblah.’ But what’s really exciting for me today is that we truly have lived to see a time and a space where America has a chance to again live up to the greatness that it deserves to be seen and known as, through the love and the caring and the commitment of a President, as in our President, Barack Obama.”

Last night’s event, the first in the “In Performance at the White House” series since President Obama’s inauguration, airs tonight on PBS stations around the country.

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Thursday, February 26th, 2009 at 12:30 pm
Remarks by the First Lady to the U.S. Environmental Protection Agency

THE WHITE HOUSE

Office of the First Lady

_____________________________________________
For Immediate Release February 26, 2009

Remarks by the First Lady
to the U.S. Environmental Protection Agency

U.S. Environmental Protection Agency
Washington, D.C.

11:14 A.M. EST

MRS. OBAMA: Wow. (Applause.) What a crowd. (Applause.) No, look at you! (Laughter and applause.)

I am delighted to be here in this beautiful room with — it’s about a thousand of you all here. That’s a good thing. (Applause.)

I want to thank Administrator Jackson for that kind introduction. With 16 years working here as one of your colleagues before moving to New Jersey and serving in its Department of Environmental Protection, Administrator Jackson is ideally suited to lead this department at this critical time for our nation and our planet. (Applause.) So Lisa, welcome home. (Applause.)

And to the hardworking men and women of the EPA: It’s a new day. (Applause.) It’s a new day. And the truth is, we can’t wait one more minute. The recently signed recovery package includes billions of dollars for the EPA to continue to clean up our communities and improve the health of our fellow Americans. The time is now.

I’ve often spoken about my most important job –- being a mom –- and like mothers and fathers everywhere, the health and safety of our children is our top priority. This is what it is all about: the future.

And in many ways, it starts with all of you. You ensure that the water we drink is safe, that the air we breathe is clean, and that the polluted fields and abandoned factories in our neighborhoods all over this nation are cleaned up and restored.

Having grown up on the South Side of Chicago and spent a good part of my career working to help families in low-income communities, where I’ve seen brownfields piling up and affecting kids all over this nation, I know firsthand the role the EPA has in reducing illnesses such as asthma and lead poisoning that can start in childhood but have a long-lasting effect in adulthood. There are thousands and thousands of children across this country that are affected each and every day.

This new era also puts the EPA at the center of President Obama’s highest priorities: securing America’s energy independence and securing the future of our planet by combating climate change. (Applause.)

We now have a President who is going to put science at the heart of our environmental policies and decisions. (Applause.) By doing so, the President, the EPA, and other agencies working on energy and the environment are going to start to champion bold policies and make smart investments that are going to do a lot of things: first, create more energy-efficient buildings — (cheering) — see, now that’s exciting — (laughter) — you know you’re at the EPA — (laughter); make our cars and trucks more fuel efficient — (applause); and double the nation’s supply of renewable energy in the next three years. (Applause.)

Your work will not only save our planet and clean up our environment; it’s going to transform our economy and create millions of well paying jobs. You know this better than anyone in the country. (Applause.) So there is a lot riding on your shoulders. So as Lisa said, what are you all doing here? (Laughter.) But I know that you are up to the challenge. I can feel it in this room.

As I have visited the agencies over the past few weeks — and it has been a thrill, one of the best things I do every day — I have been deeply moved by the character and commitment of the people that I meet during these sessions.

Men and women like you who have dedicated their careers, like the men and women standing behind me, many of whom have been working in this administration, for the EPA for longer than I’ve been alive. (Laughter.) They don’t look it — (laughter) — but when you start adding up the time — (laughter) — there’s some serious work going on back here. (Laughter.) But what they are is deeply passionate about the work that they do.

I understand where their desire comes from. I began my career as a corporate lawyer. And while that was rewarding professionally -– and personally, since that’s where Barack and I met — (laughter) — it’s a good thing — I wanted to work on something though that I felt passionate about. That’s when I decided to change careers and begin to work to improve public health in Chicago.

So let me deliver a simple message and a heartfelt message:

Thank you for making the health of our nation all of your passion. Thank you so much. (Applause.) All of our children will grow up in a healthier environment because of the work that you do and the dedication that you bring to the work that you do.

And while the challenges facing our nation are great and there’s a lot of work to be done, I am so confident, so very confident, that we’ll succeed because we’ve got devoted professionals like all of you in this room, ready and eager and willing to make the sacrifices to work on behalf of the American people.

But know that you are not alone in this effort. You have a great administrator in Lisa Jackson — (applause) — and partners in the White House. (Applause.) You have partners in the White House who believe and understand these issues. And you also have the unwavering support of a phenomenal President, Barack Obama. (Applause.)

So Barack Obama is going to need you, Michelle Obama is going to need you, Malia and Sasha Obama are going to need you, and millions of children just like them are going to need you rolling up your sleeves and rededicating and recommitting, knowing that the work is going to be tough. But everything you do, every piece of blood, sweat and tears that you pour into the work is going to make the difference in our nation, in our planet.

So get to work. (Laughter.) Thank you so much. (Applause.)

END 11:21 A.M. EST

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Remarks of President Barack Obama — Address to Joint Session of Congress

Remarks of President Barack Obama – As Prepared for Delivery
Address to Joint Session of Congress
Tuesday, February 24th, 2009

Madame Speaker, Mr. Vice President, Members of Congress, and the First Lady of the United States:

I’ve come here tonight not only to address the distinguished men and women in this great chamber, but to speak frankly and directly to the men and women who sent us here.

I know that for many Americans watching right now, the state of our economy is a concern that rises above all others. And rightly so. If you haven’t been personally affected by this recession, you probably know someone who has – a friend; a neighbor; a member of your family. You don’t need to hear another list of statistics to know that our economy is in crisis, because you live it every day. It’s the worry you wake up with and the source of sleepless nights. It’s the job you thought you’d retire from but now have lost; the business you built your dreams upon that’s now hanging by a thread; the college acceptance letter your child had to put back in the envelope. The impact of this recession is real, and it is everywhere.

But while our economy may be weakened and our confidence shaken; though we are living through difficult and uncertain times, tonight I want every American to know this:

We will rebuild, we will recover, and the United States of America will emerge stronger than before.

The weight of this crisis will not determine the destiny of this nation. The answers to our problems don’t lie beyond our reach. They exist in our laboratories and universities; in our fields and our factories; in the imaginations of our entrepreneurs and the pride of the hardest-working people on Earth. Those qualities that have made America the greatest force of progress and prosperity in human history we still possess in ample measure. What is required now is for this country to pull together, confront boldly the challenges we face, and take responsibility for our future once more.

Now, if we’re honest with ourselves, we’ll admit that for too long, we have not always met these responsibilities – as a government or as a people. I say this not to lay blame or look backwards, but because it is only by understanding how we arrived at this moment that we’ll be able to lift ourselves out of this predicament.

The fact is, our economy did not fall into decline overnight. Nor did all of our problems begin when the housing market collapsed or the stock market sank. We have known for decades that our survival depends on finding new sources of energy. Yet we import more oil today than ever before. The cost of health care eats up more and more of our savings each year, yet we keep delaying reform. Our children will compete for jobs in a global economy that too many of our schools do not prepare them for. And though all these challenges went unsolved, we still managed to spend more money and pile up more debt, both as individuals and through our government, than ever before.

In other words, we have lived through an era where too often, short-term gains were prized over long-term prosperity; where we failed to look beyond the next payment, the next quarter, or the next election. A surplus became an excuse to transfer wealth to the wealthy instead of an opportunity to invest in our future. Regulations were gutted for the sake of a quick profit at the expense of a healthy market. People bought homes they knew they couldn’t afford from banks and lenders who pushed those bad loans anyway. And all the while, critical debates and difficult decisions were put off for some other time on some other day.

Well that day of reckoning has arrived, and the time to take charge of our future is here.

Now is the time to act boldly and wisely – to not only revive this economy, but to build a new foundation for lasting prosperity. Now is the time to jumpstart job creation, re-start lending, and invest in areas like energy, health care, and education that will grow our economy, even as we make hard choices to bring our deficit down. That is what my economic agenda is designed to do, and that’s what I’d like to talk to you about tonight.

It’s an agenda that begins with jobs.

As soon as I took office, I asked this Congress to send me a recovery plan by President’s Day that would put people back to work and put money in their pockets. Not because I believe in bigger government – I don’t. Not because I’m not mindful of the massive debt we’ve inherited – I am. I called for action because the failure to do so would have cost more jobs and caused more hardships. In fact, a failure to act would have worsened our long-term deficit by assuring weak economic growth for years. That’s why I pushed for quick action. And tonight, I am grateful that this Congress delivered, and pleased to say that the American Recovery and Reinvestment Act is now law.

Over the next two years, this plan will save or create 3.5 million jobs. More than 90% of these jobs will be in the private sector – jobs rebuilding our roads and bridges; constructing wind turbines and solar panels; laying broadband and expanding mass transit.

Because of this plan, there are teachers who can now keep their jobs and educate our kids. Health care professionals can continue caring for our sick. There are 57 police officers who are still on the streets of Minneapolis tonight because this plan prevented the layoffs their department was about to make.

Because of this plan, 95% of the working households in America will receive a tax cut – a tax cut that you will see in your paychecks beginning on April 1st.

Because of this plan, families who are struggling to pay tuition costs will receive a $2,500 tax credit for all four years of college. And Americans who have lost their jobs in this recession will be able to receive extended unemployment benefits and continued health care coverage to help them weather this storm.

I know there are some in this chamber and watching at home who are skeptical of whether this plan will work. I understand that skepticism. Here in Washington, we’ve all seen how quickly good intentions can turn into broken promises and wasteful spending. And with a plan of this scale comes enormous responsibility to get it right.

That is why I have asked Vice President Biden to lead a tough, unprecedented oversight effort – because nobody messes with Joe. I have told each member of my Cabinet as well as mayors and governors across the country that they will be held accountable by me and the American people for every dollar they spend. I have appointed a proven and aggressive Inspector General to ferret out any and all cases of waste and fraud. And we have created a new website called recovery.gov so that every American can find out how and where their money is being spent.

So the recovery plan we passed is the first step in getting our economy back on track. But it is just the first step. Because even if we manage this plan flawlessly, there will be no real recovery unless we clean up the credit crisis that has severely weakened our financial system.

I want to speak plainly and candidly about this issue tonight, because every American should know that it directly affects you and your family’s well-being. You should also know that the money you’ve deposited in banks across the country is safe; your insurance is secure; and you can rely on the continued operation of our financial system. That is not the source of concern.

The concern is that if we do not re-start lending in this country, our recovery will be choked off before it even begins.

You see, the flow of credit is the lifeblood of our economy. The ability to get a loan is how you finance the purchase of everything from a home to a car to a college education; how stores stock their shelves, farms buy equipment, and businesses make payroll.

But credit has stopped flowing the way it should. Too many bad loans from the housing crisis have made their way onto the books of too many banks. With so much debt and so little confidence, these banks are now fearful of lending out any more money to households, to businesses, or to each other. When there is no lending, families can’t afford to buy homes or cars. So businesses are forced to make layoffs. Our economy suffers even more, and credit dries up even further.

That is why this administration is moving swiftly and aggressively to break this destructive cycle, restore confidence, and re-start lending.

We will do so in several ways. First, we are creating a new lending fund that represents the largest effort ever to help provide auto loans, college loans, and small business loans to the consumers and entrepreneurs who keep this economy running.

Second, we have launched a housing plan that will help responsible families facing the threat of foreclosure lower their monthly payments and re-finance their mortgages. It’s a plan that won’t help speculators or that neighbor down the street who bought a house he could never hope to afford, but it will help millions of Americans who are struggling with declining home values – Americans who will now be able to take advantage of the lower interest rates that this plan has already helped bring about. In fact, the average family who re-finances today can save nearly $2000 per year on their mortgage.

Third, we will act with the full force of the federal government to ensure that the major banks that Americans depend on have enough confidence and enough money to lend even in more difficult times. And when we learn that a major bank has serious problems, we will hold accountable those responsible, force the necessary adjustments, provide the support to clean up their balance sheets, and assure the continuity of a strong, viable institution that can serve our people and our economy.

I understand that on any given day, Wall Street may be more comforted by an approach that gives banks bailouts with no strings attached, and that holds nobody accountable for their reckless decisions. But such an approach won’t solve the problem. And our goal is to quicken the day when we re-start lending to the American people and American business and end this crisis once and for all.

I intend to hold these banks fully accountable for the assistance they receive, and this time, they will have to clearly demonstrate how taxpayer dollars result in more lending for the American taxpayer. This time, CEOs won’t be able to use taxpayer money to pad their paychecks or buy fancy drapes or disappear on a private jet. Those days are over.

Still, this plan will require significant resources from the federal government – and yes, probably more than we’ve already set aside. But while the cost of action will be great, I can assure you that the cost of inaction will be far greater, for it could result in an economy that sputters along for not months or years, but perhaps a decade. That would be worse for our deficit, worse for business, worse for you, and worse for the next generation. And I refuse to let that happen.

I understand that when the last administration asked this Congress to provide assistance for struggling banks, Democrats and Republicans alike were infuriated by the mismanagement and results that followed. So were the American taxpayers. So was I.

So I know how unpopular it is to be seen as helping banks right now, especially when everyone is suffering in part from their bad decisions. I promise you – I get it.

But I also know that in a time of crisis, we cannot afford to govern out of anger, or yield to the politics of the moment. My job – our job – is to solve the problem. Our job is to govern with a sense of responsibility. I will not spend a single penny for the purpose of rewarding a single Wall Street executive, but I will do whatever it takes to help the small business that can’t pay its workers or the family that has saved and still can’t get a mortgage.

That’s what this is about. It’s not about helping banks – it’s about helping people. Because when credit is available again, that young family can finally buy a new home. And then some company will hire workers to build it. And then those workers will have money to spend, and if they can get a loan too, maybe they’ll finally buy that car, or open their own business. Investors will return to the market, and American families will see their retirement secured once more. Slowly, but surely, confidence will return, and our economy will recover.

So I ask this Congress to join me in doing whatever proves necessary. Because we cannot consign our nation to an open-ended recession. And to ensure that a crisis of this magnitude never happens again, I ask Congress to move quickly on legislation that will finally reform our outdated regulatory system. It is time to put in place tough, new common-sense rules of the road so that our financial market rewards drive and innovation, and punishes short-cuts and abuse.

The recovery plan and the financial stability plan are the immediate steps we’re taking to revive our economy in the short-term. But the only way to fully restore America’s economic strength is to make the long-term investments that will lead to new jobs, new industries, and a renewed ability to compete with the rest of the world. The only way this century will be another American century is if we confront at last the price of our dependence on oil and the high cost of health care; the schools that aren’t preparing our children and the mountain of debt they stand to inherit. That is our responsibility.

In the next few days, I will submit a budget to Congress. So often, we have come to view these documents as simply numbers on a page or laundry lists of programs. I see this document differently. I see it as a vision for America – as a blueprint for our future.

My budget does not attempt to solve every problem or address every issue. It reflects the stark reality of what we’ve inherited – a trillion dollar deficit, a financial crisis, and a costly recession.

Given these realities, everyone in this chamber – Democrats and Republicans – will have to sacrifice some worthy priorities for which there are no dollars. And that includes me.

But that does not mean we can afford to ignore our long-term challenges. I reject the view that says our problems will simply take care of themselves; that says government has no role in laying the foundation for our common prosperity.

For history tells a different story. History reminds us that at every moment of economic upheaval and transformation, this nation has responded with bold action and big ideas. In the midst of civil war, we laid railroad tracks from one coast to another that spurred commerce and industry. From the turmoil of the Industrial Revolution came a system of public high schools that prepared our citizens for a new age. In the wake of war and depression, the GI Bill sent a generation to college and created the largest middle-class in history. And a twilight struggle for freedom led to a nation of highways, an American on the moon, and an explosion of technology that still shapes our world.

In each case, government didn’t supplant private enterprise; it catalyzed private enterprise. It created the conditions for thousands of entrepreneurs and new businesses to adapt and to thrive.

We are a nation that has seen promise amid peril, and claimed opportunity from ordeal. Now we must be that nation again. That is why, even as it cuts back on the programs we don’t need, the budget I submit will invest in the three areas that are absolutely critical to our economic future: energy, health care, and education.

It begins with energy.

We know the country that harnesses the power of clean, renewable energy will lead the 21st century. And yet, it is China that has launched the largest effort in history to make their economy energy efficient. We invented solar technology, but we’ve fallen behind countries like Germany and Japan in producing it. New plug-in hybrids roll off our assembly lines, but they will run on batteries made in Korea.

Well I do not accept a future where the jobs and industries of tomorrow take root beyond our borders – and I know you don’t either. It is time for America to lead again.

Thanks to our recovery plan, we will double this nation’s supply of renewable energy in the next three years. We have also made the largest investment in basic research funding in American history – an investment that will spur not only new discoveries in energy, but breakthroughs in medicine, science, and technology.

We will soon lay down thousands of miles of power lines that can carry new energy to cities and towns across this country. And we will put Americans to work making our homes and buildings more efficient so that we can save billions of dollars on our energy bills.

But to truly transform our economy, protect our security, and save our planet from the ravages of climate change, we need to ultimately make clean, renewable energy the profitable kind of energy. So I ask this Congress to send me legislation that places a market-based cap on carbon pollution and drives the production of more renewable energy in America. And to support that innovation, we will invest fifteen billion dollars a year to develop technologies like wind power and solar power; advanced biofuels, clean coal, and more fuel-efficient cars and trucks built right here in America.

As for our auto industry, everyone recognizes that years of bad decision-making and a global recession have pushed our automakers to the brink. We should not, and will not, protect them from their own bad practices. But we are committed to the goal of a re-tooled, re-imagined auto industry that can compete and win. Millions of jobs depend on it. Scores of communities depend on it. And I believe the nation that invented the automobile cannot walk away from it.

None of this will come without cost, nor will it be easy. But this is America. We don’t do what’s easy. We do what is necessary to move this country forward.

For that same reason, we must also address the crushing cost of health care.

This is a cost that now causes a bankruptcy in America every thirty seconds. By the end of the year, it could cause 1.5 million Americans to lose their homes. In the last eight years, premiums have grown four times faster than wages. And in each of these years, one million more Americans have lost their health insurance. It is one of the major reasons why small businesses close their doors and corporations ship jobs overseas. And it’s one of the largest and fastest-growing parts of our budget.

Given these facts, we can no longer afford to put health care reform on hold.

Already, we have done more to advance the cause of health care reform in the last thirty days than we have in the last decade. When it was days old, this Congress passed a law to provide and protect health insurance for eleven million American children whose parents work full-time. Our recovery plan will invest in electronic health records and new technology that will reduce errors, bring down costs, ensure privacy, and save lives. It will launch a new effort to conquer a disease that has touched the life of nearly every American by seeking a cure for cancer in our time. And it makes the largest investment ever in preventive care, because that is one of the best ways to keep our people healthy and our costs under control.

This budget builds on these reforms. It includes an historic commitment to comprehensive health care reform – a down-payment on the principle that we must have quality, affordable health care for every American. It’s a commitment that’s paid for in part by efficiencies in our system that are long overdue. And it’s a step we must take if we hope to bring down our deficit in the years to come.

Now, there will be many different opinions and ideas about how to achieve reform, and that is why I’m bringing together businesses and workers, doctors and health care providers, Democrats and Republicans to begin work on this issue next week.

I suffer no illusions that this will be an easy process. It will be hard. But I also know that nearly a century after Teddy Roosevelt first called for reform, the cost of our health care has weighed down our economy and the conscience of our nation long enough. So let there be no doubt: health care reform cannot wait, it must not wait, and it will not wait another year.

The third challenge we must address is the urgent need to expand the promise of education in America.

In a global economy where the most valuable skill you can sell is your knowledge, a good education is no longer just a pathway to opportunity – it is a pre-requisite.

Right now, three-quarters of the fastest-growing occupations require more than a high school diploma. And yet, just over half of our citizens have that level of education. We have one of the highest high school dropout rates of any industrialized nation. And half of the students who begin college never finish.

This is a prescription for economic decline, because we know the countries that out-teach us today will out-compete us tomorrow. That is why it will be the goal of this administration to ensure that every child has access to a complete and competitive education – from the day they are born to the day they begin a career.

Already, we have made an historic investment in education through the economic recovery plan. We have dramatically expanded early childhood education and will continue to improve its quality, because we know that the most formative learning comes in those first years of life. We have made college affordable for nearly seven million more students. And we have provided the resources necessary to prevent painful cuts and teacher layoffs that would set back our children’s progress.

But we know that our schools don’t just need more resources. They need more reform. That is why this budget creates new incentives for teacher performance; pathways for advancement, and rewards for success. We’ll invest in innovative programs that are already helping schools meet high standards and close achievement gaps. And we will expand our commitment to charter schools.

It is our responsibility as lawmakers and educators to make this system work. But it is the responsibility of every citizen to participate in it. And so tonight, I ask every American to commit to at least one year or more of higher education or career training. This can be community college or a four-year school; vocational training or an apprenticeship. But whatever the training may be, every American will need to get more than a high school diploma. And dropping out of high school is no longer an option. It’s not just quitting on yourself, it’s quitting on your country – and this country needs and values the talents of every American. That is why we will provide the support necessary for you to complete college and meet a new goal: by 2020, America will once again have the highest proportion of college graduates in the world.

I know that the price of tuition is higher than ever, which is why if you are willing to volunteer in your neighborhood or give back to your community or serve your country, we will make sure that you can afford a higher education. And to encourage a renewed spirit of national service for this and future generations, I ask this Congress to send me the bipartisan legislation that bears the name of Senator Orrin Hatch as well as an American who has never stopped asking what he can do for his country – Senator Edward Kennedy.

These education policies will open the doors of opportunity for our children. But it is up to us to ensure they walk through them. In the end, there is no program or policy that can substitute for a mother or father who will attend those parent/teacher conferences, or help with homework after dinner, or turn off the TV, put away the video games, and read to their child. I speak to you not just as a President, but as a father when I say that responsibility for our children’s education must begin at home.

There is, of course, another responsibility we have to our children. And that is the responsibility to ensure that we do not pass on to them a debt they cannot pay. With the deficit we inherited, the cost of the crisis we face, and the long-term challenges we must meet, it has never been more important to ensure that as our economy recovers, we do what it takes to bring this deficit down.

I’m proud that we passed the recovery plan free of earmarks, and I want to pass a budget next year that ensures that each dollar we spend reflects only our most important national priorities.

Yesterday, I held a fiscal summit where I pledged to cut the deficit in half by the end of my first term in office. My administration has also begun to go line by line through the federal budget in order to eliminate wasteful and ineffective programs. As you can imagine, this is a process that will take some time. But we’re starting with the biggest lines. We have already identified two trillion dollars in savings over the next decade.

In this budget, we will end education programs that don’t work and end direct payments to large agribusinesses that don’t need them. We’ll eliminate the no-bid contracts that have wasted billions in Iraq, and reform our defense budget so that we’re not paying for Cold War-era weapons systems we don’t use. We will root out the waste, fraud, and abuse in our Medicare program that doesn’t make our seniors any healthier, and we will restore a sense of fairness and balance to our tax code by finally ending the tax breaks for corporations that ship our jobs overseas.

In order to save our children from a future of debt, we will also end the tax breaks for the wealthiest 2% of Americans. But let me perfectly clear, because I know you’ll hear the same old claims that rolling back these tax breaks means a massive tax increase on the American people: if your family earns less than $250,000 a year, you will not see your taxes increased a single dime. I repeat: not one single dime. In fact, the recovery plan provides a tax cut – that’s right, a tax cut – for 95% of working families. And these checks are on the way.

To preserve our long-term fiscal health, we must also address the growing costs in Medicare and Social Security. Comprehensive health care reform is the best way to strengthen Medicare for years to come. And we must also begin a conversation on how to do the same for Social Security, while creating tax-free universal savings accounts for all Americans.

Finally, because we’re also suffering from a deficit of trust, I am committed to restoring a sense of honesty and accountability to our budget. That is why this budget looks ahead ten years and accounts for spending that was left out under the old rules – and for the first time, that includes the full cost of fighting in Iraq and Afghanistan. For seven years, we have been a nation at war. No longer will we hide its price.

We are now carefully reviewing our policies in both wars, and I will soon announce a way forward in Iraq that leaves Iraq to its people and responsibly ends this war.

And with our friends and allies, we will forge a new and comprehensive strategy for Afghanistan and Pakistan to defeat al Qaeda and combat extremism. Because I will not allow terrorists to plot against the American people from safe havens half a world away.

As we meet here tonight, our men and women in uniform stand watch abroad and more are readying to deploy. To each and every one of them, and to the families who bear the quiet burden of their absence, Americans are united in sending one message: we honor your service, we are inspired by your sacrifice, and you have our unyielding support. To relieve the strain on our forces, my budget increases the number of our soldiers and Marines. And to keep our sacred trust with those who serve, we will raise their pay, and give our veterans the expanded health care and benefits that they have earned.

To overcome extremism, we must also be vigilant in upholding the values our troops defend – because there is no force in the world more powerful than the example of America. That is why I have ordered the closing of the detention center at Guantanamo Bay, and will seek swift and certain justice for captured terrorists – because living our values doesn’t make us weaker, it makes us safer and it makes us stronger. And that is why I can stand here tonight and say without exception or equivocation that the United States of America does not torture.

In words and deeds, we are showing the world that a new era of engagement has begun. For we know that America cannot meet the threats of this century alone, but the world cannot meet them without America. We cannot shun the negotiating table, nor ignore the foes or forces that could do us harm. We are instead called to move forward with the sense of confidence and candor that serious times demand.

To seek progress toward a secure and lasting peace between Israel and her neighbors, we have appointed an envoy to sustain our effort. To meet the challenges of the 21st century – from terrorism to nuclear proliferation; from pandemic disease to cyber threats to crushing poverty – we will strengthen old alliances, forge new ones, and use all elements of our national power.

And to respond to an economic crisis that is global in scope, we are working with the nations of the G-20 to restore confidence in our financial system, avoid the possibility of escalating protectionism, and spur demand for American goods in markets across the globe. For the world depends on us to have a strong economy, just as our economy depends on the strength of the world’s.

As we stand at this crossroads of history, the eyes of all people in all nations are once again upon us – watching to see what we do with this moment; waiting for us to lead.

Those of us gathered here tonight have been called to govern in extraordinary times. It is a tremendous burden, but also a great privilege – one that has been entrusted to few generations of Americans. For in our hands lies the ability to shape our world for good or for ill.

I know that it is easy to lose sight of this truth – to become cynical and doubtful; consumed with the petty and the trivial.

But in my life, I have also learned that hope is found in unlikely places; that inspiration often comes not from those with the most power or celebrity, but from the dreams and aspirations of Americans who are anything but ordinary.

I think about Leonard Abess, the bank president from Miami who reportedly cashed out of his company, took a $60 million bonus, and gave it out to all 399 people who worked for him, plus another 72 who used to work for him. He didn’t tell anyone, but when the local newspaper found out, he simply said, ”I knew some of these people since I was 7 years old. I didn’t feel right getting the money myself.”

I think about Greensburg, Kansas, a town that was completely destroyed by a tornado, but is being rebuilt by its residents as a global example of how clean energy can power an entire community – how it can bring jobs and businesses to a place where piles of bricks and rubble once lay. “The tragedy was terrible,” said one of the men who helped them rebuild. “But the folks here know that it also provided an incredible opportunity.”

And I think about Ty’Sheoma Bethea, the young girl from that school I visited in Dillon, South Carolina – a place where the ceilings leak, the paint peels off the walls, and they have to stop teaching six times a day because the train barrels by their classroom. She has been told that her school is hopeless, but the other day after class she went to the public library and typed up a letter to the people sitting in this room. She even asked her principal for the money to buy a stamp. The letter asks us for help, and says, “We are just students trying to become lawyers, doctors, congressmen like yourself and one day president, so we can make a change to not just the state of South Carolina but also the world. We are not quitters.”

We are not quitters.

These words and these stories tell us something about the spirit of the people who sent us here. They tell us that even in the most trying times, amid the most difficult circumstances, there is a generosity, a resilience, a decency, and a determination that perseveres; a willingness to take responsibility for our future and for posterity.

Their resolve must be our inspiration. Their concerns must be our cause. And we must show them and all our people that we are equal to the task before us.

I know that we haven’t agreed on every issue thus far, and there are surely times in the future when we will part ways. But I also know that every American who is sitting here tonight loves this country and wants it to succeed. That must be the starting point for every debate we have in the coming months, and where we return after those debates are done. That is the foundation on which the American people expect us to build common ground.

And if we do – if we come together and lift this nation from the depths of this crisis; if we put our people back to work and restart the engine of our prosperity; if we confront without fear the challenges of our time and summon that enduring spirit of an America that does not quit, then someday years from now our children can tell their children that this was the time when we performed, in the words that are carved into this very chamber, “something worthy to be remembered.” Thank you, God Bless you, and may God Bless the United States of America.

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Remarks by the President and Vice President at Meeting with Nation’s Mayors

THE VICE PRESIDENT:  Well, thank you all for being here today, and welcome back to the White House.  (Applause.)  Mr. Mayor, my mayor in the city of Wilmington, Jim Baker — when I got elected, he assumed that he got an office in the West Wing.  (Laughter.)  But he has a telephone number that is accessible — hi, Jim, how are you?

Thank you all for being here.  It’s great to be with so many — so many leaders who are literally, to use that shopworn phrase, on the front lines where the economy lives and dies, and where people are struggling, and you have to deal with it every day.

You know, in a long career in politics, there’s one overwhelming reason why I never ran for mayor, Richie, it’s too hard.  (Laughter.)  They have got your phone number, and they know where you live, and they come and they use it.

Well, President Obama and I are turning that around.  We want you to know you can have our phone number, and you know where we live.  (Applause.)  And we expect you to use it.  Already, we’ve met with you and the Conference of Mayors over half a dozen times.

Too often in the past, America’s cities have been neglected, and our mayors haven’t had — haven’t been able to be heard on the questions of national policy.  That’s a story you all understand and know very well.  But we know how important cities are — 65 percent of our nation’s population, as you all know, live in our cities.  Our cities are the home of seven out of ten American jobs.  And when you’re talking about the “knowledge economy jobs,” the number rises to eight and ten — eight out of ten.  Cities are vital to our economy, essential to our recovery, and haven’t been paid much attention to.

Our economy can never reach, in our view, its full potential if we have people who are living blocks away, but worlds away from the bustling downtowns full of opportunity.  Our poor transportation systems don’t provide mobility people need to get to the job.  Or they aren’t enough police or firefighters in communities to keep the communities safe.

And that’s why the American Recovery and Reinvestment Act President Obama signed this week I think includes unprecedented investment in American cities.  (Applause.)  Simply stated, that’s the commitment made in this law.  Now, the hard part in one sense, is up to us.  We got to make this work.  We got to make it work for our people.  We got to make it work for our cities.  We got to make work for all our people.

The American people have trusted their government with an unprecedented — unprecedented level of funding to address the economic emergency we face.  In return, we have to prove to them that their dollars are making a difference in their communities.  We’ve already set up a website -– recovery.com [sic] -– which will show where and how the money is being spent.  The public can actually go on a web site and see how we’re spending this money.

President Obama has been insistent during his campaign, and from the time we won, on accountability and transparency.  All of you know, if we don’t meet that minimum threshold, the likelihood of the public trusting us to do this kind of thing is going to evaporate very rapidly.  Transparency is vital, and effectiveness is paramount.  These investments are a huge opportunity — a huge opportunity to create jobs today, and strengthen our economy for tomorrow.

We’ve designed this bill to save and create — save or create over 3 million new jobs.  And we’d like to see it do even better than that.  And that’s where your efforts come in.  You are — you’re the ones who know the areas that give us the greatest return on our investment — you know it better than we do.  You’re the ones who know — you’re the ones who know which projects will crystallize private investment and even greater growth in your cities.  And the world is watching — the world is watching to see how well this is going to work.  And we need your help — we need your help in making it work, and work quickly and effectively.

As of today, we’re one month into this administration — although I said to the President in the past, it feels like a little longer than that.  But we are one month into this administration.  And think what the President has already done — already signed into laws, there’s a Lilly Ledbetter Fair Pay Act.  We’ve expanded state health insurance — Children’s Health Insurance Program to cover an additional 4 million children.  We put forward — excuse me — we put forward a plan to reduce preventable home foreclosures.  We’ve won passage of the largest economic recovery effort since World War II — in a month — in a month.  (Applause.)

So the results of the President’s leadership and your help are already there and clear for everybody to see.  But it’s been a great privilege to also see how much this President has done behind the scenes to make this happen.  I’ve been here for eight Presidents — for eight Presidents — you can tell by my look.  (Laughter.)  Well, I want to tell you something:  The hard choices the President has made, the patient outreach he’s done, the firm resolve he’s shown — the results of this work I think speak for themselves.  But I’m pleased to speak about the man who made these results happen.

There is so much more to do –- so much more.  But already, President Obama has put our nation on the path toward greater recovery — not only greater recovery, but greater decency, greater fairness, greater opportunity, along with economic recovery.  For years, many of us have hoped for such accomplishments.  And in just one month, an incredible new President has made this a reality.

So please join me in welcoming the President of the United States of America, Barack Obama.  (Applause.)

THE PRESIDENT:  Thank you, everybody.  Thank you.  Please have a seat.  Thank you so much.  Whenever I have the opportunity to meet with mayors, I think about how I got my start doing what you do each day:  working with folks at the local level and doing our best to make a real impact on the lives of ordinary Americans.  And that’s just another reason why I’m so happy to welcome all of you here today.

I want to offer — take a little personal prerogative here and welcome my own hometown mayor — my friend, Rich Daley.  (Applause.)  His steady leadership has proven again and again that the American city can be a place of boundless opportunity and a source of solutions to our public problems; he has made a deep and lasting difference in the quality of life for millions of Chicagoans.  I’m surprised he’s still talking to me because I stole Arne Duncan from him — (laughter) — but I am confident that he will continue to make great strides.

I see friends from all over the place; some old friends — not old in years, but people who I’ve known a long time.  My other hometown mayor, Mufi, it’s great to see you all the way from Honolulu.  I’ve got Mayor Riley and others who are in attendance; Shirley Franklin doing great work; and Mayor Villaraigosa and Mayor Dellums from — we’ve got the California contingent.  So I’m grateful to all of you.

And I think all of you understand that we meet at such an urgent time.  Last night, I signed an executive order establishing the White House Office of Urban Affairs.  (Applause.)  I’ve chosen Adolfo Carrión to be its first director.  Adolfo wrote a real success story in the Bronx as borough president, and now he’s going to be working with all of you to write our next success stories in cities across the country.

He’s going to be responsible for coordinating all federal urban programs, and I’ve asked him to set up an advisory council with mayors and other urban leaders so that we can develop a new metropolitan strategy based on the lessons you’ve learned.  Now,  rebuilding our economies and renewing our cities is going to require a true partnership between mayors and the White House, and that partnership has to begin right now.

Those of you who have traveled great distances to be here come from different parties and philosophies.  You govern very different cities, they’re made up of different citizenries with different demographic makeups.  But today, in the face of our common challenges, you’re all hearing the same stories.  I know because I’m getting letters from constituents all across the country, in many of your cities.

But you’re on the front lines in our communities.  You know what happens when folks get laid off, or they lose their homes or their health care, and they turn to the mayor’s office for help.  And just as your services stretch, your classrooms get crowded, and your streets grow less safe, your budgets shrink.  You can’t deficit spend, so you face impossible choices:  raising taxes; cutting essential services; laying off teachers, firefighters, police officers.

And that’s why the recovery plan we put into action this week is so important.  It’s a plan that will save or create 3.5 million jobs over the next two years; will help those hardest hit by our economic crisis; it will aid state and local governments in hopes you can avoid those excruciating choices.

It provides greater unemployment insurance for nearly 18 million Americans, and protects health care for 7 million who lost their health care along with their jobs.  It includes the most progressive tax cuts in our history, spurring job creation and putting money into the pockets of 95 percent of all hardworking families.  It invests in what works for our cities by funding programs like the Byrne Justice Assistance Grant and the COPS program, which boost public safety and bring down crime.  It rewards responsibility, making sure that if you work hard, you won’t have to raise a child below the poverty line.

But what makes this recovery plan so important isn’t just the jobs it will create or the immediate help it provides; it’s that we are putting Americans to work doing the work America needs done in critical areas that have been neglected for too long.  (Applause.)  So this plan does more to lay a new foundation for our cities’ growth and opportunity than anything Washington has done in generations — and it will bring real and lasting change for generations to come.

Because we know we can’t build our economic future on the transportation and information networks of the past, we’re remaking our cities with the largest new investment in our nation’s infrastructure since Eisenhower built an Interstate Highway System in the 1950s.  Ray LaHood is going to be busy because we’re putting 400,000 men and women to work rebuilding our crumbling roads and our bridges, repairing our faulty dams and levees, replacing our aging water and sewer pipes, and rolling out broadband lines to nearly every community in America.  (Applause.)  We’re going to unleash the potential of all our regions by connecting them with world-class transit systems and high-speed rail, making our metropolitan areas more livable and sustainable in the process.

Because we know education is the single best bet we can make to change the odds of our children and our cities, we are making the largest investment in education in our nation’s history.  It will prevent harmful education cuts and save jobs of tens of thousands of teachers — 14,000 just in New York City.  And it will make a historic investment in early childhood education and upgrade classrooms and libraries and labs across America, so that millions of our children are prepared to compete in the 21st century.

Because we know that spiraling health care costs are crushing families and businesses alike, and straining budgets across government, we’re taking the most meaningful steps in years to modernize our health care system.  We’re going to computerize America’s medical records while maintaining rigorous privacy standards, saving billions of dollars and countless lives.  We’ll focus on prevention, keeping millions of Americans from having to set in the doctor’s office in the first place.  Taken together with the earlier enactment this month of long-delayed laws to extend health care to millions more children of working families, we’ve done more in 30 days to advance the cause of health care reform than this country has done in a decade.  (Applause.)

And because we know we can’t power America’s future on energy that’s controlled by foreign dictators, we’re making an investment that within three years will double the renewable energy output it’s taken us 35 years to reach.  (Applause.)  We’ll provide tax credits and loan guarantees to companies that create this energy, allowing them to expand rather than lay people off.  We’ll fund the Energy Efficiency and Conservation Block Grant you conceived, saving our cities and our consumers money.  (Applause.)  We’ll build a bigger, better, smarter electricity grid that delivers clean energy from communities that produce it to the cities that need it.

So these are the steps we’re taking to help you turn this crisis into opportunity and bring our cities into the future.  Now, Washington can’t solve all the problems facing our cities — and I know you don’t expect us to.  Instead of waiting for Washington, many of you have already made our cities laboratories of change, coming up with innovative new ways to solve the problems of our time.

One of the great pleasures of running for President was having a chance to see great work on renewable energy in Des Moines or, you know, seeing what kinds of wonderful companies are being created in Seattle, and hearing about some of the urban planning strategies that are taking place in Charleston.  So all of you have already taken the ball and run with it, even when you weren’t getting help from here.  But it won’t be bad to get some help because — (applause.)

You know, instead of debating the existence of climate change, mayors like Greg Nickels in Seattle are leading efforts to make cities greener and more efficient.  Instead of just talking about health care, mayors like Gavin Newsom in San Francisco have been ensuring that those in need receive it.  Instead of wringing your hands over poverty, you’ve got Antonio in Los Angeles making relentless efforts to alleviate it.

You shouldn’t have to succeed, though, despite Washington; you should be succeeding with a hand from Washington, and that’s what you’re going to get now.  (Applause.)

Now, what is required in return, what I will need from all of you, is unprecedented responsibility and accountability on all of our parts.  The American people are watching.  They need this plan to work.  They expect to see the money that they’ve earned, that they’ve worked so hard to earn, spent in its intended purposes without waste, without inefficiency, without fraud.

And that’s why I’m assigning a team of managers to ensure that every dollar is spent wisely.  And that’s why we’ve created recovery.gov — so that every American can go online to see how their money is spent, and hold their federal, state, and local officials to the highest standards they expect.

So I want to be clear about this:  We cannot tolerate business as usual — not in Washington, not in our state capitols, not in America’s cities and towns.  We will use the new tools that the recovery act gives us to watch the taxpayers’ money with more rigor and transparency than ever.  (Applause.)  If a federal agency proposes a project that will waste that money, I will not hesitate to call them out on it and put a stop to it.

And I want everybody here to be on notice that if a local government does the same, I will call them out on it and use the full power of my office and our administration to stop it.  We have asked for the unprecedented trust of the American people to deal boldly with the greatest economic crisis we’ve seen in decades and the privilege of investing unprecedented amounts of their hard-earned money to address this crisis.  And with that comes unprecedented obligations to spend that money wisely — free from politics and free from personal agendas.

On this, I will not compromise or tolerate any shortcuts.  The American people are looking to us, each of you, as well as myself and Joe and others in our administration, for leadership, and it’s up to us to reward their faith.

Now, this plan doesn’t mark the end of what we’ll do together.  It marks the beginning.  My administration has outlined plans to stabilize, repair and reform our banking system, to get credit flowing to families and businesses, to stem the spread of foreclosures and keep families in their homes.  Together, we will tackle the urban challenges of our time and foster diverse, creative and imaginative economies that bring opportunity to every corner of our cities.

We’ll do all this because despite the different backgrounds of the mayors in this room, we all share the same vision for our cities — vibrant places that provide our children with every chance to learn and to grow, that allow our businesses and workers the best opportunity to innovate and succeed, that let our older Americans live out their best years in the midst of all that metropolitan life can offer.

I know this change is possible.  I know because I saw it in all those years ago in neighborhoods on the South Side of Chicago, where ordinary Americans came together and worked alongside the mayor’s office to forge a better future.  I know because I’ve seen it in cities across this country, where many of you that I had a chance to meet with, I saw how you focused on fresh ideas over stale ideology, and you moved your cities forward.  And I know it because I see it in the faces of Americans everywhere who are ready to roll up their sleeves and join in the work of remaking this nation.

So now it falls to us to seize the possibilities of this moment and convert peril into promise; see to it that our cities and our people emerge from this moment stronger than they were before.  Starting today, that’s what you and I are going to do — together.  And I’m absolutely confident that our people will benefit and people will look back and say that this was a turning point; this was a moment where, in the midst of great crisis, leadership was shown and we created a new platform for success for all Americans in the future.

Thank you so much, everybody.  Appreciate it.  (Applause.)

END                 10:57 A.M. EST

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Free Coloring Page of President Barack Obama Speaking

Today at a school in Mesa, Arizona, the President speaks to the problem of the growing foreclosure program.

He explained in great detail how this plan will help stabalize the foreclosure crisis the country is now facing.

He promised that new guidelines for mortgage holders will be in place two weeks from today. He went on to detail these terms more extensively.

He talks about the investment for America today, but stressed that it will prevent thousands if not millions of more foreclosures before.

Remarks by the President on the mortgage crisis

For Immediate Release                                                        February 18, 2009

REMARKS BY THE PRESIDENT
ON THE HOME MORTGAGE CRISIS
Dobson High School
Mesa, Arizona
10:25 A.M. MST

THE PRESIDENT:  Thank you very much.  (Applause.)  Please, everybody have a seat.  Thank you.  Well, it is good to be back in Arizona.  (Applause.)  Thank you.  Are you excited?  (Applause.)  Thank you, thank you.  And thank you for arranging for such a beautiful day.  I want to stick around, but I got to go back to work.  But it is wonderful to be here.  And to all of you, I know that attending these kinds of events, oftentimes you have to wait in line and there’s all kinds of stuff going on.  But I appreciate you being here very much.  And to all the officials here at the school, the principal and the student body, everybody who helped make this possible, thank you so much to all of you.  (Applause.)

I’m here today to talk about a crisis unlike we’ve ever known — but one that you know very well here in Mesa, and throughout the Valley.  In Phoenix and its surrounding suburbs, the American Dream is being tested by a home mortgage crisis that not only threatens the stability of our economy, but also the stability of families and neighborhoods.  It’s a crisis that strikes at the heart of the middle class:  the homes in which we invest our savings and build our lives, raise our families and plant roots in our communities.

So many Americans have shared with me their personal experiences of this crisis.  Many have written letters or emails or shared their stories with me at rallies and along rope lines. Their hardship and heartbreak are a reminder that while this crisis is vast, it begins just one house — and one family — at a time.

It begins with a young family — maybe in Mesa, or Glendale, or Tempe — or just as likely in a suburban area of Las Vegas, or Cleveland, or Miami.  They save up.  They search.  They choose a home that feels like the perfect place to start a life.  They secure a fixed-rate mortgage at a reasonable rate, and they make a down payment, and they make their mortgage payments each month.  They are as responsible as anyone could ask them to be.

But then they learn that acting responsibly often isn’t enough to escape this crisis.  Perhaps somebody loses a job in the latest round of layoffs, one of more than 3.5 million jobs lost since this recession began — or maybe a child gets sick, or a spouse has his or her hours cut.

In the past, if you found yourself in a situation like this, you could have sold your home and bought a smaller one with more affordable payments, or you could have refinanced your home at a lower rate.  But today, home values have fallen so sharply that even if you make a large down payment, the current value of your mortgage may still be higher than the current value of your house.  So no bank will return your calls, and no sale will return your investment.

You can’t afford to leave, you can’t afford to stay.  So you start cutting back on luxuries.  Then you start cutting back on necessities.  You spend down your savings to keep up with your payments.  Then you open the retirement fund.  Then you use the credit cards.  And when you’ve gone through everything you have, and done everything you can, you have no choice but to default on your loan.  And so your home joins the nearly 6 million others in foreclosure or at risk of foreclosure across the country, including roughly 150,000 right here in Arizona.

But the foreclosures which are uprooting families and upending lives across America are only part of the housing crisis.  For while there are millions of families who face foreclosure, there are millions more who are in no danger of losing their homes, but who have still seen their dreams endangered.  They’re the families who see the “For Sale” signs lining the streets; who see neighbors leave, and homes standing vacant, and lawns slowly turning brown.  They see their own homes — their single largest asset — plummeting in value.  One study in Chicago found that a foreclosed home reduces the price of nearby homes by as much as 9 percent.  Home prices in cities across the country have fallen by more than 25 percent since 2006.  And in Phoenix, they’ve fallen by 43 percent.

Even if your neighborhood hasn’t been hit by foreclosures, you’re likely feeling the effects of this crisis in other ways. Companies in your community that depend on the housing market — construction companies and home furnishing stores and painters and landscapers — they’re all cutting back and laying people off.  The number of residential construction jobs has fallen by more than a quarter million since mid-2006.  As businesses lose revenue and people lose income, the tax base shrinks, which means less money for schools and police and fire departments.  And on top of this, the costs to local government associated with a single foreclosure can be as high as $20,000.

So the effects of this crisis have also reverberated across the financial markets.  When the housing market collapsed, so did the availability of credit on which our economy depends.  And as that credit has dried up, it’s been harder for families to find affordable loans to purchase a car or pay tuition, and harder for businesses to secure the capital they need to expand and create jobs.

In the end, all of us are paying a price for this home mortgage crisis.  And all of us will pay an even steeper price if we allow this crisis to continue to deepen — a crisis which is unraveling home ownership, the middle class, and the American Dream itself.  But if we act boldly and swiftly to arrest this downward spiral, then every American will benefit.  And that’s what I want to talk about today.

The plan I’m announcing focuses on rescuing families who’ve played by the rules and acted responsibly, by refinancing loans for millions of families in traditional mortgages who are underwater or close to it, by modifying loans for families stuck in sub-prime mortgages they can’t afford as a result of skyrocketing interest rates or personal misfortune, and by taking broader steps to keep mortgage rates low so that families can secure loans with affordable monthly payments.

At the same time, this plan must be viewed in a larger context.  A lost home often begins with a lost job.  Many businesses have laid off workers for a lack of revenue and available capital.  Credit has become scarce as markets have been overwhelmed by the collapse of security backed — securities backed by failing mortgages.  In the end, the home mortgage crisis, the financial crisis, and this broader economic crisis are all interconnected, and we can’t successfully address any one of them without addressing them all.

So yesterday, in Denver, I signed into law the American Recovery and Reinvestment Act, which will create or save — (applause.)  The act will create or save 3.5 million jobs over the next two years — including 70,000 right here in Arizona, right here — (applause) — doing the work America needs done.  And we’re also going to work to stabilize, repair and reform our financial system to get credit flowing again to families and businesses.

And we will pursue the housing plan I’m outlining today.  And through this plan, we will help between 7 and 9 million families restructure or refinance their mortgages so they can afford — avoid foreclosure.  And we’re not just helping homeowners at risk of falling over the edge; we’re preventing their neighbors from being pulled over that edge, too — as defaults and foreclosures contribute to sinking home values, and failing local businesses, and lost jobs.

But I want to be very clear about what this plan will not do:  It will not rescue the unscrupulous or irresponsible by throwing good taxpayer money after bad loans.  It will not help speculators — (applause) — it will not help speculators who took risky bets on a rising market and bought homes not to live in but to sell.  (Applause.)  It will not help dishonest lenders who acted irresponsibly, distorting the facts — (applause)  — distorting the facts and dismissing the fine print at the expense of buyers who didn’t know better.  And it will not reward folks who bought homes they knew from the beginning they would never be able to afford.  (Applause.)  So I just want to make this clear:  This plan will not save every home.

But it will give millions of families resigned to financial ruin a chance to rebuild.  It will prevent the worst consequences of this crisis from wreaking even greater havoc on the economy. And by bringing down the foreclosure rate, it will help to shore up housing prices for everybody.  According to estimates by the Treasury Department, this plan could stop the slide in home prices due to neighboring foreclosures by up to $6,000 per home.

So here’s how my plan works:  First, we will make it possible for an estimated 4 to 5 million currently ineligible homeowners who receive their mortgages through Fannie Mae or Freddie Mac to refinance their mortgages at a lower rate.  (Applause.)

Today, as a result of declining home values, millions of families are what’s called “underwater,” which simply means that they owe more on their mortgages than their homes are currently worth.  These families are unable to sell their homes, but they’re also unable to refinance them.  So in the event of a job loss or another emergency, their options are limited.

Also right now, Fannie Mae and Freddie Mac — the institutions that guarantee home loans for millions of middle-class families — are generally not permitted to guarantee refinancing for mortgages valued at more than 80 percent of the home’s worth.  So families who are underwater or close to being underwater can’t turn to these lending institutions for help.

My plan changes that by removing this restriction on Fannie and Freddie so that they can refinance mortgages they already own or guarantee.  (Applause.)

And what this will do is it will allow millions of families stuck with loans at a higher rate to refinance.  And the estimated cost to taxpayers would be roughly zero.  While Fannie and Freddie would receive less money in payments, this would be balanced out by a reduction in defaults and foreclosures.  (Applause.)

I also want to point out that millions of other households could benefit from historically low interest rates if they refinance, though many don’t know that this opportunity is available to them — meaning some of you — an opportunity that could save your families hundreds of dollars each month.  And the efforts we are taking to stabilize mortgage markets will help you, borrowers, secure more affordable terms, too.

A second thing we’re going to do under this plan is we will create new incentives so that lenders work with borrowers to modify the terms of sub-prime loans at risk of default and foreclosure.

Sub-prime loans — loans with high rates and complex terms that often conceal their costs — make up only 12 percent of all mortgages, but account for roughly half of all foreclosures.  Right now, when families with these mortgages seek to modify a loan to avoid this fate, they often find themselves navigating a maze of rules and regulations, but they’re rarely finding answers.  Some sub-prime lenders are willing to renegotiate; but many aren’t.  And your ability to restructure your loan depends on where you live, the company that owns or manages your loan, or even the agent who happens to answer the phone on the day that you call.

So here’s what my plan does:  establishes clear guidelines for the entire mortgage industry that will encourage lenders to modify mortgages on primary residences.  Any institution that wishes to receive financial assistance from the government, from taxpayers, and to modify home mortgages, will have to do so according to these guidelines — which will be in place two weeks from today.  (Applause.)

Here’s what this means:  If lenders and home buyers work together, and the lender agrees to offer rates that the borrower can afford, then we’ll make up part of the gap between what the old payments were and what the new payments will be.  Under this plan, lenders who participate will be required to reduce those payments to no more than 31 percent of a borrower’s income.  And this will enable as many as 3 to 4 million homeowners to modify the terms of their mortgages to avoid foreclosure.

So this part of the plan will require both buyers and lenders to step up and do their part, to take on some responsibility.  Lenders will need to lower interest rates and share in the costs of reducing monthly payments in order to prevent another wave of foreclosures.  Borrowers will be required to make payments on time in return for this opportunity to reduce those payments.

And I also want to be clear that there will be a cost associated with this plan.  But by making these investments in foreclosure prevention today, we will save ourselves the costs of foreclosure tomorrow — costs that are borne not just by families with troubled loans, but by their neighbors and communities and by our economy as a whole.  Given the magnitude of these crises, it is a price well worth paying.  (Applause.)

There’s a third part of the plan:  We will take major steps to keep mortgage rates low for millions of middle-class families looking to secure new mortgages.

Today, most new home loans are backed by Fannie Mae and Freddie Mac, which guarantee loans and set standards to keep mortgage rates low and to keep mortgage financing available and predictable for middle-class families.  Now, this function is profoundly important, especially now as we grapple with a crisis that would only worsen if we were to allow further disruptions in our mortgage markets.

Therefore, using the funds already approved by Congress for this purpose, the Treasury Department and the Federal Reserve will continue to purchase Fannie Mae and Freddie Mac mortgage-backed securities so that there is stability and liquidity in the marketplace.  Through its existing authority, Treasury will provide up to $200 billion in capital to ensure that Fannie Mae and Freddie Mac can continue to stabilize markets and hold mortgage rates down.

And we’re also going to work with Fannie and Freddie on other strategies to bolster the mortgage markets, like working with state housing finance agencies to increase their liquidity.  And as we seek to ensure that these institutions continue to perform what is a vital function on behalf of middle-class families, we also need to maintain transparency and strong oversight so that they do so in responsible and effective ways.

Fourth, we will pursue a wide range of reforms designed to help families stay in their homes and avoid foreclosures.

And my administration will continue to support reforming our bankruptcy rules so that we allow judges to reduce home mortgages on primary residences to their fair market value — as long as borrowers pay their debts under court-ordered plans.  (Applause.) I just want everybody to understand, that’s the rule for investors who own two, three, and four homes.  So it should be the rule for folks who just own one home — (applause) — as an alternative to foreclosure.

In addition, as part of the recovery plan I signed into law yesterday, we are going to award $2 billion in competitive grants to communities that are bringing together stakeholders and testing new and innovative ways to limit the effects of foreclosures.    Communities have shown a lot of initiative, taking responsibility for this crisis when many others have not.  And supporting these neighborhood efforts is exactly what we should be doing.

So taken together, the provisions of this plan will help us end this crisis and preserve for millions of families their stake in the American Dream.  But we also have to acknowledge the limits of this plan.

Our housing crisis was born of eroding home values, but it was also an erosion of our common values, and in some case, common sense.  It was brought about by big banks that traded in risky mortgages in return for profits that were literally too good to be true; by lenders who knowingly took advantage of homebuyers; by homebuyers who knowingly borrowed too much from lenders; by speculators who gambled on ever-rising prices; and by leaders in our nation’s capital who failed to act amidst a deepening crisis.  (Applause.)

So solving this crisis will require more than resources; it will require all of us to step back and take responsibility.  Government has to take responsibility for setting rules of the road that are fair and fairly enforced.  Banks and lenders must be held accountable for ending the practices that got us into this crisis in the first place.  And each of us, as individuals, have to take responsibility for their own actions.  That means all of us have to learn to live within our means again and not assume that — (applause) — and not assume that housing prices are going to go up 20, 30, 40 percent every year.

Those core values of common sense and responsibility, those are the values that have defined this nation.  Those are the values that have given substance to our faith in the American Dream.  Those are the values we have to restore now at this defining moment.

It will not be easy.  But if we move forward with purpose and resolve — with a deepened appreciation of how fundamental the American Dream is and how fragile it can be when we fail to live up to our collective responsibilities, if we go back to our roots, our core values, I am absolutely confident we will overcome this crisis and once again secure that dream not just for ourselves but for generations to come.

Thank you.  God bless you.  God bless the United States of America.  (Applause.)

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