English subtitles for clip: File:2010-12-18 President Obama's Weekly Address.ogv

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The President: This week, Congress
passed -- and I signed into law --

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an essential economic package
that will help grow our economy,

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spur businesses, and
jumpstart job creation.

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Instead of a New Years Day tax
hike on the vast majority of

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Americans, two million Americans
who've lost their jobs through

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no fault of their own will now
know with certainty that they

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won't lose their emergency
unemployment insurance at the

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end of the month.

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Eight million college students
who'd otherwise face a tuition

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hike next semester will continue
having access to the American

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Opportunity Tax Credit.

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12 million families with 24
million children will benefit

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from extensions of the Earned
Income Tax Credit and the Child

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Tax Credit.

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And millions of entrepreneurs
who've been waiting to invest in

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their businesses will receive
new tax incentives to help them

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expand, buy new equipment,
or make upgrades,

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freeing up money to
hire new workers.

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This package, which is so
important for our economy at

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this pivotal time, was the
product of hard negotiations.

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Like any negotiations, there was
give and take on both sides.

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But I'm heartened by our ability
to come together to do what's

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best for middle class
families across this country,

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and for our economy as a whole.

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Before Congress breaks
for the holidays,

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I'm also hopeful we can come
together on another urgent

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national priority
-- and that is,

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the new START treaty that
will reduce the world's nuclear

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arsenals and make
America more secure.

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25 years ago, the Soviet Union
and the United States each had

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about 25,000 nuclear weapons.

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In the decades since, that
number has been reduced by over

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70%, and we've had on-site
inspections of Russian nuclear facilities.

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That progress would not have
been possible without strategic

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arms control treaties.

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During the past year, however,
our old treaty with Russia

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expired, and without a new one,
we won't be able to verify

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Russia's nuclear arsenal,
which would undercut President

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Reagan's call to
trust, but verify,

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when it comes to
nuclear weapons.

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Without a new treaty, we'll risk
turning back the progress we've

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made in our relationship
with Russia,

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which is essential to enforce
strong sanctions against Iran,

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secure vulnerable nuclear
materials from terrorists,

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and resupply our
troops in Afghanistan.

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And we'll risk undermining
American leadership not only on

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nuclear proliferation, but a host of
other challenges around the world.

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Ratifying a treaty like START
isn't about winning a victory

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for an administration
or a political party.

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It's about the safety and security
of the United States of America.

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That's why this treaty is
supported by both Presidents

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Bill Clinton and
George H.W. Bush.

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That's why it's supported
by every living Republican

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Secretary of State,
by our NATO allies,

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and the leadership of the
United States military.

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Indeed, the Vice-Chairman of
the Joint Chiefs of Staff,

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General Hoss Cartwright, said
this week that the military

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needs this treaty, and
they need it badly.

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And that's why every President
since Ronald Reagan has pursued

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a treaty like START, and every
one that has been reviewed by

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the Senate has passed with
strong bipartisan support.

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We've taken the time
to get this right.

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The START treaty has now been
under review by the Senate for

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over seven months.

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It's gone through 18 hearings.

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Nearly 1,000 questions have
been asked -- and answered.

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Several Republican Senators have
come out in support of ratification.

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Meanwhile, further
delay comes at a cost.

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Every minute we drag our feet
is a minute that we have no

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inspectors on the ground at
those Russian nuclear sites.

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It's time to get this done.

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It's time to show the same
spirit of common purpose on our

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security that we showed
this week on our economy.

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It's time to remember the old
saying that politics stops at

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the water's edge.

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That saying was coined
by a Republican Senator,

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Arthur Vandenberg, who partnered
with a Democratic President,

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Harry Truman, to pass landmark
national security measures at

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the dawn of the Cold War.

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Today, over 60 years later, when
we're threatened not only by

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nuclear weapons, but an
array of other dangers,

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that's a principle we
must continue to uphold.

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Thanks, and have
a great weekend.