English subtitles for clip: File:2013-07-27 President Obama's Weekly Address.webm
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1 00:00:05,867 --> 00:00:07,333 The President: Hi everybody. 2 00:00:07,333 --> 00:00:10,400 On Wednesday, I spoke about what we need to do as a country 3 00:00:10,400 --> 00:00:12,900 to build a better bargain for the middle class -- 4 00:00:12,900 --> 00:00:16,400 to make sure everyone who works hard has a chance to get ahead 5 00:00:16,400 --> 00:00:19,299 in the 21st century economy. 6 00:00:19,300 --> 00:00:21,700 You see, over the past four and a half years, 7 00:00:21,700 --> 00:00:24,066 America has fought its way back from the worst recession 8 00:00:24,066 --> 00:00:25,933 of our lifetimes. 9 00:00:25,934 --> 00:00:29,500 We saved the auto industry, took on a broken health care system, 10 00:00:29,500 --> 00:00:32,500 invested in new American technologies to reverse our 11 00:00:32,500 --> 00:00:36,600 addiction to foreign oil, and changed a tax code too skewed 12 00:00:36,600 --> 00:00:40,033 in favor of the wealthiest at the expense of working families. 13 00:00:40,033 --> 00:00:44,600 As a result, our businesses have created 7.2 million new jobs 14 00:00:44,600 --> 00:00:46,700 over the past 40 months. 15 00:00:46,700 --> 00:00:49,100 We produce more renewable energy than ever, 16 00:00:49,100 --> 00:00:51,600 and more natural gas than anyone. 17 00:00:51,600 --> 00:00:55,333 Health care costs are growing at the slowest rate in 50 years. 18 00:00:55,333 --> 00:00:59,967 Our deficits are falling at the fastest rate in 60 years. 19 00:00:59,967 --> 00:01:02,367 Thanks to the grit and resilience of the American 20 00:01:02,367 --> 00:01:05,200 people, we've cleared away the rubble of crisis and begun 21 00:01:05,200 --> 00:01:07,667 to lay a new foundation for stronger, 22 00:01:07,667 --> 00:01:10,300 more durable economic growth. 23 00:01:10,300 --> 00:01:12,500 But as any middle-class family will tell you, 24 00:01:12,500 --> 00:01:15,500 we're not yet where we need to be. 25 00:01:15,500 --> 00:01:17,700 Trends that have been eroding middle-class security for 26 00:01:17,700 --> 00:01:21,767 decades -- technology that makes some jobs obsolete, 27 00:01:21,767 --> 00:01:24,967 global competition that makes others moveable, 28 00:01:24,967 --> 00:01:28,533 growing inequality and the policies that perpetuate it -- 29 00:01:28,533 --> 00:01:30,934 all these things still exist, and in some ways, 30 00:01:30,934 --> 00:01:33,200 the recession made them worse. 31 00:01:33,200 --> 00:01:37,200 Reversing these trends must be Washington's highest priority. 32 00:01:37,200 --> 00:01:38,734 It sure is mine. 33 00:01:38,734 --> 00:01:40,667 But over the past couple of years in particular, 34 00:01:40,667 --> 00:01:43,300 Washington has taken its eye off the ball. 35 00:01:43,300 --> 00:01:45,600 An endless parade of distractions, 36 00:01:45,600 --> 00:01:49,833 political posturing and phony scandals shift focus from what 37 00:01:49,834 --> 00:01:51,867 needs to be done. 38 00:01:51,867 --> 00:01:54,667 And as Washington prepares to enter another budget debate, 39 00:01:54,667 --> 00:01:57,033 the stakes could not be higher. 40 00:01:57,033 --> 00:02:00,166 The choices we make now will determine whether or not every 41 00:02:00,166 --> 00:02:03,300 American has a fighting chance in the 21st century. 42 00:02:03,300 --> 00:02:06,667 If we don't make the investments necessary to make America 43 00:02:06,667 --> 00:02:10,400 a magnet for good jobs -- if we don't invest in education, 44 00:02:10,400 --> 00:02:13,533 and manufacturing, and research, and our transportation and 45 00:02:13,533 --> 00:02:17,033 information networks -- we might as well hit the "pause" button 46 00:02:17,033 --> 00:02:18,500 while the rest of the world forges ahead 47 00:02:18,500 --> 00:02:20,900 in a global economy. 48 00:02:20,900 --> 00:02:22,834 And that's certainly not going to fix what ails 49 00:02:22,834 --> 00:02:24,500 the middle class. 50 00:02:24,500 --> 00:02:27,667 Here's what will: a strategy that builds on the cornerstones 51 00:02:27,667 --> 00:02:30,166 of what it means to be middle class in America, 52 00:02:30,166 --> 00:02:33,233 and what it takes to work your way into the middle class. 53 00:02:33,233 --> 00:02:35,200 Good jobs that pay good wages. 54 00:02:35,200 --> 00:02:38,200 An education that prepares our children and our workers for the 55 00:02:38,200 --> 00:02:40,600 global competition they'll face. 56 00:02:40,600 --> 00:02:43,367 Homeownership that's based on a solid foundation, 57 00:02:43,367 --> 00:02:46,667 where buyers and lenders play by the same set of rules. 58 00:02:46,667 --> 00:02:50,734 Affordable health care that's there for you when you get sick. 59 00:02:50,734 --> 00:02:53,633 A secure retirement even if you're not rich. 60 00:02:53,633 --> 00:02:57,066 More chances for folks to earn their way into the middle class 61 00:02:57,066 --> 00:02:59,900 as long as they're willing to work for it. 62 00:02:59,900 --> 00:03:02,867 Over the next several weeks, in cities and towns across 63 00:03:02,867 --> 00:03:05,966 the country, I'll continue to lay out my ideas in each 64 00:03:05,967 --> 00:03:08,000 of these areas. 65 00:03:08,000 --> 00:03:10,533 Because reversing the forces that have conspired against the 66 00:03:10,533 --> 00:03:13,566 middle class for decades will require more than short-term 67 00:03:13,567 --> 00:03:17,834 thinking; it will require a long-term American strategy, 68 00:03:17,834 --> 00:03:20,500 based on steady, persistent effort. 69 00:03:20,500 --> 00:03:23,400 I know there are members of both parties who understand what's 70 00:03:23,400 --> 00:03:26,667 at stake, and I'm open to ideas from across the political 71 00:03:26,667 --> 00:03:30,000 spectrum, as long as they meet the test of strengthening 72 00:03:30,000 --> 00:03:33,066 the prospects of hard-working families. 73 00:03:33,066 --> 00:03:36,533 But repealing Obamacare, gutting critical investments in our 74 00:03:36,533 --> 00:03:39,767 future, threatening to default on the bills this country has 75 00:03:39,767 --> 00:03:42,934 already racked up, or shutting down the government just because 76 00:03:42,934 --> 00:03:46,600 I'm for keeping it open -- none of those thing add up 77 00:03:46,600 --> 00:03:48,934 to an economic plan. 78 00:03:48,934 --> 00:03:53,400 None of that will take this country where it needs to go. 79 00:03:53,400 --> 00:03:55,834 We can do this if we work together. 80 00:03:55,834 --> 00:03:59,233 It won't be easy, but if we take a few bold steps -- and if 81 00:03:59,233 --> 00:04:02,033 Washington is willing to shake off its complacency and set 82 00:04:02,033 --> 00:04:05,299 aside some of the slash-and-burn partisanship we've seen 83 00:04:05,300 --> 00:04:09,300 in recent years -- our economy will keep getting stronger. 84 00:04:09,300 --> 00:04:11,500 And as long as I have the privilege of holding this 85 00:04:11,500 --> 00:04:15,100 office, I will spend every minute of every day doing 86 00:04:15,100 --> 00:04:18,600 everything in my power to make this economy work for working 87 00:04:18,600 --> 00:04:22,333 Americans again; to build that better bargain for the middle 88 00:04:22,333 --> 00:04:25,200 class; to make sure that the American Dream is something 89 00:04:25,200 --> 00:04:29,066 that's achievable for everybody -- not just today, 90 00:04:29,066 --> 00:04:31,400 but for decades to come. 91 00:04:31,400 --> 00:04:33,700 Thanks, and have a great weekend.