Remarks by the President on Extending Tax Cuts for Middle-Class Families

East Room

12:08 P.M. EDT

THE PRESIDENT:  Thank you.  (Applause.)  Thank you very much.  Everybody, have a seat.  Have a seat.  Good afternoon, everybody.  I’m glad things have cooled off a little bit.  I know folks were hot.  (Laughter.)  

We’re here today to talk about taxes -- something that everybody obviously cares deeply about.  And I’ve often said that our biggest challenge right now isn’t just to reclaim all the jobs that we lost to the recession -- it’s to reclaim the security that so many middle-class Americans have lost over the past decade.  Our core mission as an administration and as a country has to be, yes, putting people back to work, but also rebuilding an economy where that work pays off -- an economy in which everybody can have the confidence that if you work hard, you can get ahead. 

What’s holding us back from meeting these challenges, it’s not a lack of plans, it’s not a lack of ideas -- it is a stalemate in this town, in Washington, between two very different views about which direction we should go in as a country.  And nowhere is that stalemate more pronounced than on the issue of taxes.

Many members of the other party believe that prosperity comes from the top down, so that if we spend trillions more on tax cuts for the wealthiest Americans, that that will somehow unleash jobs and economic growth.

I disagree.  I think they’re wrong.  I believe our prosperity has always come from an economy that’s built on a strong and growing middle class -- one that can afford to buy the products that our businesses sell; a middle class that can own homes, and send their kids to college, and save enough to retire on.  That’s why I’ve cut middle-class taxes every year that I’ve been President -- by $3,600 for the typical middle-class family.  Let me repeat:  Since I’ve been in office, we’ve cut taxes for the typical middle-class family by $3,600.  (Applause.)

I wanted to repeat that because sometimes there’s a little misinformation out there -- (laughter) -- and folks get confused about it. 

Moreover, we’ve tried it their way.  It didn’t work.  At the beginning of the last decade, Congress passed trillions of dollars in tax cuts that benefited the wealthiest Americans more than anybody else.  And we were told that it would lead to more jobs and higher incomes for everybody, and that prosperity would start at the top but then trickle down. 

And what happened?  The wealthy got wealthier, but most Americans struggled.  Instead of creating more jobs, we had the slowest job growth in half a century.  Instead of widespread prosperity, the typical family saw its income fall.  And in just a few years, we went from record surpluses under Bill Clinton to record deficits that we are now still struggling to pay off today.

So we don’t need more top-down economics.  We’ve tried that theory.  We’ve seen what happens.  We can’t afford to go back to it.  We need policies that grow and strengthen the middle class -- policies that help create jobs, that make education and training more affordable, that encourage businesses to start up and create jobs right here in the United States.

So that’s why I believe it’s time to let the tax cuts for the wealthiest Americans -- folks like myself -- to expire.  (Applause.)  And, by the way, I might feel differently -- because it’s not like I like to pay taxes -- (laughter) -- I might feel differently if we were still in surplus.  But we’ve got this huge deficit, and everybody agrees that we need to do something about these deficits and these debts.  So the money we’re spending on these tax cuts for the wealthy is a major driver of our deficit, a major contributor to our deficit, costing us a trillion dollars over the next decade. 

By the way, these tax cuts for the wealthiest Americans are also the tax cuts that are least likely to promote growth.  So we can’t afford to keep that up, not right now.  So I’m not proposing anything radical here.  I just believe that anybody making over $250,000 a year should go back to the income tax rates we were paying under Bill Clinton -- back when our economy created nearly 23 million new jobs, the biggest budget surplus in history, and plenty of millionaires to boot. 

And this is not just my opinion.  The American people are with me on this.  Poll after poll shows that’s the case.  And there are plenty of patriotic and very successful, very wealthy Americans who also agree, because they know that by making that kind of contribution, they’re making the country as a whole stronger.

At the same time, most people agree that we should not raise taxes on middle-class families or small businesses -- not when so many folks are just trying to get by.  Not when so many folks are still digging themselves out of the hole that was created by this Great Recession that we had, and at a time when the recovery is still fragile.  And that’s why I’m calling on Congress to extend the tax cuts for the 98 percent of Americans who make less than $250,000 for another year.  (Applause.) 

If Congress doesn’t do this, millions of American families -- including these good-looking people behind me -- (laughter) -- could see their taxes go up by $2,200 starting on January 1st of next year.  And that would be a big blow to working families, and it would be a drag on the entire economy.

Now, we can already anticipate -- we know what those who are opposed to letting the high-end tax cuts expire will say.  They’ll say that we can’t tax “job creators.”  And they'll try to explain how this would be bad for small businesses. 

Let me tell you, the folks who create most new jobs in America are America’s small business owners.  And I've cut taxes for small business owners 18 times since I've been in office.  (Applause.)  I’ve also asked Congress repeatedly to pass new tax cuts for entrepreneurs who hired new workers and raised their workers’ wages. 

But here's the thing that you have to remember.  The proposal I make today would extend these tax cuts for 97 percent of all small business owners in America.  In other words, 97 percent of small businesses fall under the $250,000 threshold.  (Applause.)  So this isn’t about taxing job creators, this is about helping job creators.  I want to give them relief.  I want to give those 97 percent a sense of permanence.

I believe we should be able to come together and get this done.  While I disagree on extending tax cuts for the wealthy, because we just can’t afford them, I recognize that not everybody agrees with me on this.  On the other hand, we all say we agree that we should extend the tax cuts for 98 percent of the American people.  Everybody says that.  The Republicans say they don't want to raise taxes on the middle class.  I don't want to raise taxes on the middle class.

So we should all agree to extend the tax cuts for the middle class.  Let's agree to do what we agree on.  Right?  (Applause.)  That’s what compromise is all about.  Let’s not hold the vast majority of Americans and our entire economy hostage while we debate the merits of another tax cut for the wealthy.  We can have that debate.  (Applause.)  We can have that debate, but let's not hold up working on the thing that we already agree on.

In many ways, the fate of the tax cut for the wealthiest Americans will be decided by the outcome of the next election.  My opponent will fight to keep them in place.  I will fight to end them.  But that argument shouldn’t threaten you.  It shouldn’t threaten the 98 percent of Americans who just want to know that their taxes won’t go up next year. 

Middle-class families and small business owners, they deserve that guarantee.  They deserve that certainty.  It will be good for the economy and it will be good for you.  And we should give you that certainty now.  We should do it now.  It will be good for you.  It will be good for the economy as a whole.  (Applause.)

So my message to Congress is this:  Pass a bill extending the tax cuts for the middle class; I will sign it tomorrow.  Pass it next week; I’ll sign it next week.  Pass it next -- well, you get the idea.  (Laughter.)

As soon as that gets done, we can continue to have a debate about whether it’s a good idea to also extend the tax cuts for the wealthiest Americans.  I’ll have one position.  The other side will have another.  And we’ll have that debate, and the American people can listen to that debate.

And then next year, once the election is over, things have calmed down a little bit, based on what the American people have said and how they’ve spoken during that election, we’ll be in a good position to decide how to reform our entire tax code in a simple way that lowers rates and helps our economy grow, and brings down our deficit -- because that’s something that we’re going to have to do for the long term.

But right now, our top priority has to be giving middle-class families and small businesses the security they deserve.  You’re the ones who are driving this recovery forward.  (Applause.)  You’re the ones who are driving this recovery forward, and I think it’s time to widen the circle of opportunity and help more Americans who work hard to get ahead.  It’s time that we learned the lessons of our past and lay the foundation for a better future.  That’s what I’m focused on every day, and I hope Congress will join me in doing the right thing.

So thank you very much, you all, for being here.  Thank you.  (Applause.)

END               
12:21 P.M. EDT

Remarks by the President at a Campaign Event

Carnegie Mellon University
Pittsburgh, Pennsylvania

2:17 P.M. EDT

THE PRESIDENT:  Hello, Pittsburgh!  (Applause.)  It is good to be back in Pittsburgh, Pennsylvania.  (Applause.)

A couple of people I want to acknowledge.  First of all, one of my favorite people, one of our finest United States Senators  -- give it up for Bob Casey.  (Applause.)  I think we’ve got in the house as well your Mayor, Luke Ravenstahl.  (Applause.)  Congressman Mike Doyle is in the house.  (Applause.)  Allegheny County Executive Rich Fitzgerald is here.  (Applause.)  The Pennsylvania Democratic State Party Chair Jim Burn is here.  (Applause.)  And we want to thank Sheryl Sesay and Monte Reid for the pre-program.  Great job.  (Applause.)  Great job.

Now, first of all, before we do anything else -- before we do anything else --

AUDIENCE MEMBER:  We love you!

THE PRESIDENT:  I love you back.  (Applause.) 

But let’s also be clear that a very important situation has arisen -- the White Sox and the Pirates are in first place.  (Applause.)  So we may be in the World Series together.  (Applause.)  We love each other, we can root for each other -- until we get to the World Series.  (Laughter.)  Then it’s every man for himself.  (Laughter.) 

I know it’s hot.  I know you guys have been waiting a while. So I want to, first of all, just say thank you to everybody for taking the time to be here.  (Applause.)  I hope everybody had a great Fourth of July.  (Applause.)  We had some folks over for a barbecue, in my backyard -- (laughter) -- had some fireworks.  It was also Malia’s birthday on the 4th.  (Applause.)  She is now 14 years old.  It goes by too quick.  I used to be able to convince her that all these fireworks were for her, but she no longer believes me.  (Laughter.)  But she sends her love, and Michelle and Sasha and Bo all say hi.  (Applause.)

Now, some of you may know that we’ve been on a bus tour for the last couple of days.  I’ve been traveling through Ohio.  We just came from Beaver, Pennsylvania.  (Applause.)  And everywhere I go, people have said, Mr. President, you’re getting too skinny, you need to eat.  (Laughter.)  And so we’ve been eating a lot.  And I’ve had a chance to talk to folks everywhere I go, and people are aware of the fact that we’re now in full campaign swing.  (Applause.) 

And I know that sometimes modern campaigns aren’t pretty to watch, because basically so much of it involves millions of dollars on television.  Most of the ads are negative, and at a certain point people get discouraged and start feeling like nobody in Washington is listening to what’s going on to ordinary folks all across the country.

But I’ve got to tell you, despite the cynicism and the negativism, what I think about is my first race.  And what --

AUDIENCE:  Four more years!  Four more years!

THE PRESIDENT:  What I think about is my first race.  And this was when I was first running for state senate -- I couldn’t afford television commercials.  And Michelle and I, we used to go door to door and pass out flyers that we had printed out at Kinko’s.  And we had our friends and our family members, and we’d march in Fourth of July parades.  And it was hard work.  And I didn’t have Air Force One back then.  (Laughter.) 

But when I think about my first race, I think about why I got into politics.  And the reason I got into politics was because this country has blessed me so much.  And I thought about my own family -- how my grandfather fought in Patton’s army in World War II, while my grandmother was back home working on a bomber assembly line.  And when my grandfather came back, he was able to go to college on the GI Bill, and they were able to buy a home through the FHA. 

And then I thought about my single mom -- because my dad left when I was very young -- and how, despite all the struggles, she was able to get a great education because that’s the kind of country this was.  And she was able to pass on a great education to me and my sister.  (Applause.)

And then I think about Michelle’s mom, and the fact that Michelle’s mom and dad, they didn’t come from a wealthy family.  Michelle’s dad, he worked a blue-collar job at the sanitary plant in Chicago.  And my mother-in-law, she stayed at home until the kids got older.  And she ended up becoming a secretary, and that's where she worked at most of her life, was a secretary at a bank.

So none of us came from privileged backgrounds, none of us had a lot of wealth or fame.  But what we understood was that here in America, no matter what you look like, no matter where you come from, no matter what church you worship at, no matter what region of the country -- if you were willing to work hard, if you were willing to take responsibility for your life, you could make it if you try here in the United States of America.  (Applause.)

And that basic idea, that basic bargain that says here we all deserve a fair shot, and everybody should do their fair share and everybody should play by the same set of rules -- that basic bargain that says, if you're willing to work hard and take responsibility in your own life, then you can find a job that pays a living wage and you can save up and buy a home and you won't go bankrupt if you get sick.  Maybe you can take a vacation with your family once in a while -- nothing fancy, but you can go out and go visit some of our national parks.

I remember my favorite vacation when I was a kid, traveling with my mom and my grandma and my sister, and we traveled the country on Greyhound buses and railroads.  And once in a while, we'd rent a car -- not that often -- and stay at Howard Johnsons. (Laughter.)  It didn't matter how big the pool was, if there was a pool I'd jump in.  (Laughter.)  I was 11 years old and I was excited just to go to the vending machine and get the ice bucket and get the ice. 

And then, the chance to retire with dignity and respect, that dream of a strong middle class, that's what America has always been about.  (Applause.)  That's what led me to get into public service.  That's what led to my first campaign, was making sure that access to that middle class -- that growing, thriving heartbeat of America -- that that was available for everybody -- (applause) -- that it wasn’t just available for me and Michelle, but it was available for every kid all across this country.  (Applause.)  

And that’s what led me to run for President of the United States.  (Applause.)  And that’s what’s led me to ask you for a second term as President of the United States -- (applause) -- to fight for America’s middle class and everybody who is trying to get into the middle class.  (Applause.)

AUDIENCE:  Four more years!  Four more years!

THE PRESIDENT:  That idea has been getting battered a little bit over the last decade.  Part of the reason I ran in 2008, part of the reason so many of you came together to work on that campaign, was we had seen a decade in which those middle-class dreams were under assault.  Folks were working harder but making less.  The costs of everything from health care to college to groceries to gas kept on going up, but your salaries or your wages didn’t.  We had put two wars on a credit card, taken a surplus and turned it into a deficit, and all of it culminated in the worst financial crisis that we’ve seen in our lifetimes. 

So what we came together to do in 2008 was start this process -- this painstaking, laborious process -- to turn this country towards those core values -- (applause) -- to turn this country back towards our best selves and our best ideals.  (Applause.)  And we knew we wouldn’t be able to do it overnight because these problems weren’t created overnight.  But we believed in this country and we believed in the American people.

We understood that this has never been a country of folks looking for handouts, but what they do want is a fighting chance.
And so, for the last three years, when some folks said let’s let Detroit go bankrupt --

AUDIENCE:  No!

THE PRESIDENT:  -- we said, no, we’re betting on the American worker.  (Applause.)  We’re betting on the American industries.  And now GM is back at number one, and Chrysler and Ford are back.  (Applause.) 

And we've started to see manufacturing come back to our shores -- more manufacturing jobs created than any time since the 1990s.  We saw people go back and get retrained for jobs -- sometimes getting jobs of the future -- advanced manufacturing, new technologies and clean energy.  We’ve seen small businesses, who almost had to shutter their doors during the crisis, but sometimes the owners didn’t take a salary because they wanted to keep their folks working.  And somehow, inch by inch, yard by yard, mile by mile, they’ve been able to come all the way back and are now starting to hire workers again.  Over 4.4 million jobs created over the last two and a half years -- (applause) -- over 500,000 manufacturing jobs. 

So we’ve been fighting back.  But what we all understand is that we’ve got so much more to do.  Too many of our friends and family members and neighbors are still out of work; too many folks still are seeing their home property values underwater. 

And so the question for all of you at this moment is how will we determine our direction -- not just for the next year, not just for the next five years, but for the next decade, the next two decades.  Because this election is not just about two candidates or two parties; it’s about two fundamentally different visions of where we take America.  (Applause.) 

And the stakes could not be higher.  And ultimately the way we’re going to make this decision is you.  There’s a stalemate in Washington right now because there are two different visions of how we have to move forward, and you’ve got to break that stalemate.  So let me just very briefly tell you what the choices are. 

You’ve got Mr. Romney and his allies in Congress.

AUDIENCE:  Booo --

THE PRESIDENT:  And their basic vision is one that says we’re going to give $5 trillion of new tax cuts on top of the Bush tax cuts, most of them going to the wealthiest Americans -- they won’t be paid for, or if they are paid for, they’ll be paid for by slashing education funding --

AUDIENCE:  Booo --

THE PRESIDENT:  -- or making college loans more expensive --

AUDIENCE:  Booo --

THE PRESIDENT:  -- or eliminating support for basic science and research, the kind of work that's done right here at Carnegie Mellon --

AUDIENCE:  Booo --

THE PRESIDENT:  -- or making Medicare a voucher system.

AUDIENCE:  Booo --

THE PRESIDENT:  So that's one part of their plan.  And the second part of their plan is let's eliminate regulations -- regulations that we just put in place to make sure that Wall Street doesn’t act recklessly and we can prevent another taxpayer-funded bailout when the financial system goes out of whack; regulations that protect our air or our water; regulations that protect consumers from being taken advantage of. 

And that’s it.  That’s their economic plan.  Don’t take my word for it -- go on their website.  The Republicans in Congress voted for this plan.  And you know what, it is a theory.  It's an idea of how you might grow an economy -- if we hadn't just tried it for 10 years before I took office.  (Applause.) 

We tried it and it didn’t work.  So why would we want to go backwards to the same theory that didn’t work before?  They're banking on the notion that you don’t remember what happened when they were in charge -- the last time they were in charge of the White House -- and how surpluses became deficits, and how job growth was more sluggish than it's been in 50 years, and how we ultimately ended up with the worst financial crisis since the Great Depression.

Well, Pittsburgh, I want you to know I've got a different theory.  (Applause.)  I've got a different idea.  And let me be honest, it's not a silver bullet.  It's not going to change things completely in the next day or the next week.  But it moves us in a direction that is true to our traditions by building not from the top down, but from the middle class out.  (Applause.) 

It's a vision that says we don’t need to just bring auto-making back; we can bring manufacturing back to America.  (Applause.)  We can invest in advanced manufacturing research like is being done right here at Carnegie Mellon.  (Applause.)  And we can change our tax code to make sure, instead of giving tax breaks to companies that are shipping jobs overseas, let's give those tax breaks to companies that are investing right here in Pittsburgh, right here in Pennsylvania, right here in the United States of America.  That's my vision for the future.  (Applause.)

My vision is one that says we've got to invest in our young people so they get the best education in the world.  (Applause.)  So I want to hire new teachers, especially in math and science.  (Applause.)  I want to keep on making college more affordable. 

We just prevented Congress from doubling student interest loan rates because of you.  (Applause.)  But we've got to do more to bring tuition down -- and give 2 million more Americans the chance to study at community colleges and get the job training they need for the jobs of the 21st century.  (Applause.)  Because a higher education is not an economic luxury; it is an economic necessity.  (Applause.)  And I'm committed to making sure everybody gets that chance for the skills and the training they need to succeed.  (Applause.) 

My vision says we ended the war in Iraq, as I promised.  (Applause.)  And we're winding down the war in Afghanistan.  (Applause.)  So let's take half of that money that we're saving in war and use it to pay down the deficit.  Let's take the other half and do some nation-building here at home.  (Applause.)  Let's put some Americans back to work rebuilding our roads and our bridges, our schools.  Let's build broadband lines and wireless networks and high-speed rail.  (Applause.)  Let's invest in the basic science and research that helped to send a man to the moon and create the Internet. 

That's what makes America great.  We are innovators and risk-takers. 

I believe in an America in which we control our own energy future.  (Applause.)  We're producing more oil than we have in the last eight years; we're importing less.  But we can do so much more.  We've got to bet on not just an oil industry that's already profitable.  We got to bet on a clean energy industry of solar and wind that can create jobs and help our environment, and free ourselves from dependence on foreign oil.  (Applause.)

And I've got a vision that believes that everybody -- all families who are responsible should be able to have the basic security of health care.  (Applause.)  The Supreme Court has spoken; the law we passed is here to stay.  (Applause.)

If you have health insurance, the only thing that changes for you is you’re more secure because insurance companies can't drop you when you get sick.  (Applause.)  They don't have a lifetime limit where suddenly they're dumping the costs on you, even though you’ve been paying your premiums.  We’ve got millions of young people who are able to stay on their parent's plan right now because of that health care law.  (Applause.)  We’ve got millions of seniors who are seeing cheaper prescription drugs. 

And if you don't have health insurance, we’re going to help you get health insurance.  (Applause.)  I believe it was the right thing to do because that's part of making sure a middle class is thriving in this country, that they don't have to fear that when somebody in their family gets sick, that somehow they're going to lose everything they’ve worked for all those years.  I make no apologies for it.  It was the right thing to do.  And we’re going to keep moving forward.  (Applause.)  That's why I’m running for a second term as President of the United States.  (Applause.)

AUDIENCE:  Four more years!  Four more years!

THE PRESIDENT:  We’re not going to go back to a vision that somehow thinks when a few wealthy investors do well then everybody does well.  So you know what, we need to deal with our deficit.  We need to deal with our debt.  And part of America’s character is the understanding that government can't solve every problem.  We don't expect it to.  Some folks can't be helped if they don't want to help themselves.  Not every government program works.

We’ve already cut a trillion dollars in spending that wasn’t helping families succeed, and we’ll do some more.  But you know what, we are not just going to cut and balance the budget on the backs of middle-class families, asking them to pay more taxes, asking them to suddenly not get help when it comes to sending their kids to college.  I think we can ask the wealthiest Americans to do a little bit more.  (Applause.) 

We need to have a tax code where secretaries aren’t paying a lower tax rate than their bosses.  (Applause.)  And you know what, the good news is there are a lot of Americans all across the country -- very successful Americans -- who agree with me on this, because they understand the only reason they succeeded was somebody helped them.  Didn’t give them a handout but gave them a hand up.

This idea that we’re all in it together, that we rise or fall as one people, that theory of mine about how to grow the economy, we’ve tried that, too.  We tried it as recently as when Bill Clinton was President.  And you know what, we created 23 million new jobs.  (Applause.)  And we had a surplus at the end, instead of a deficit.  And we created a whole lot of wealth and a lot of millionaires along the way.  Because that formula that says we’re in it together means that everybody can do well. 

The reason we built the Hoover Dam or the Golden Gate Bridge, the reason we sent a man to the moon, or invested in the research that resulted in the Internet, the reason we built an Interstate Highway System -- we did those things not for any individual to become rich; we did it so that all of would have a platform for success, because we understand there are some things we do better together.  (Applause.) 

I continue to believe that. I think most Americans understand that.  That’s the reason I’m running for a second term as President of the United States.  (Applause.)

AUDIENCE:  Four more years!  Four more years!

THE PRESIDENT:  Now, over the next four months, you’re going to see more money spent than you’ve ever seen before, more negative ads.  These guys are writing $10 million checks. 

AUDIENCE:  Booo --

THE PRESIDENT:  And you’ll hear the same thing from them over and over again, because they know that their economic theory isn’t going to sell, so all they’ve got to argue is "the economy is not moving as fast as it needs to, jobs aren’t growing as fast as they need to and it’s all Obama’s fault."  That’s basically their only message.

AUDIENCE:  Booo --

THE PRESIDENT:  Now, I guess this is a plan to win an election, but it’s not a plan to create jobs.  It’s not a plan to grow our middle class.  And you know what, I might be worried about all this money being spent if it wasn’t for my memories of previous campaigns.  That first campaign I ran, the last campaign I ran in 2008 -- I’ve been outspent before.  I’ve had a lot of money thrown at me before. 

But you know what I’ve learned, is that when the American people decide on what’s right, when all of you decide on what’s true, when you remember the story of your families just like the story of my family's, all the struggles our parents and our grandparents and great-grandparents went through -- some of them maybe came over here as immigrants and started working in the mines or working in the mills -- not always knowing what to expect, but understanding that there was something different about this country -- looking out for one another, taking care of the community together, being responsible, having those old-fashioned, homespun values; believing that being middle class wasn't a matter of your bank account, it was a state of mind in terms of what you believe -- that there were some things that were important and nothing was more important than looking after your family and being with your family and caring for your family.  (Applause.)

When Americans come together and tap into that spirit that is best in us, all that money doesn't matter.  All those negative ads don't matter.  You make change happen.  You inspire each other.  You inspire me.  (Applause.) 

In 2008, I told you I'm not a perfect man and I wouldn't be a perfect President.  But I told you I'd always tell you what I thought and I'd always tell you where I stood.  And I told you I would wake up every single day, fighting as hard as I knew how for you, to make your lives a little bit better, to give you more of a fighting shot to succeed and live our your dreams.  (Applause.)

And I made that promise because I saw myself in you.  In your grandparents, I see my grandparents.  In your children, I see Malia and Sasha.  And I've kept that promise.  I've kept that promise.  Every morning and every night, I've thought about how we build America, and how we build America's middle class, and how we give everybody a fair shot, and how we make sure everybody is doing their fair share, and how we make sure everybody is fighting by the same rules.  (Applause.)  

And if you still believe in me like I believe in you, I hope you will stand with me in 2012.  (Applause.)  Because if you do, we will finish what we started in 2008, and this economy will be moving again.  And we'll remind the world just why it is that the United States of America is the greatest nation on earth.  (Applause.)  

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

END
2:48 P.M. EDT

Remarks by the President at a Campaign Event

James Day Park
Parma, Ohio

8:13 P.M. EDT

THE PRESIDENT:  Hello, Parma!  Hello, Ohio!  (Applause.)  Well, it is good to be in Parma.  Everybody have a seat who can sit down.  (Laughter.)  It is good to be here, and this -- now, this is the right time for a rally.  (Applause.)  Now things have cooled off a little bit.  And I had a beer in Amherst, at Ziggy’s, so I’m feeling good.  (Laughter and applause.)  Feeling steady.  (Applause.) 

I want to first of all -- I want everybody to give Wendy a big round of applause for the introduction.  (Applause.)  We’ve got some outstanding Ohioans in the house.  (Applause.)  First of all, the Mayor of Parma, Tim DeGeeter is here.  (Applause.)  Stand up, Tim, so everybody can see you.  There you go.  (Applause.)  I don’t know who the guy holding the Mayor is, but -- (laughter) -- no. 

CHILD:  That’s Jack!

THE PRESIDENT:  Oh, that’s Jack.  (Laughter.)  Got it. 

You guys have some of the best members of Congress from this area.  And nobody is fighting harder than your outstanding Senator, Sherrod Brown.  (Applause.)  And his outstanding wife, Connie, who I love.  We love Connie.  (Applause.)  Although, Connie, I did tell Sherrod he can take his tie off.  I mean, it’s eight o’clock.  We’re in a park.  (Laughter.)  It’s hot.  (Laughter.)  But, anyway, you keep on working on him.  (Laughter.) 

Two outstanding congresswomen who are looking after Ohio’s middle class every single day -- Betty Sutton is here -- (applause) -- and Marcy Kaptur is here.  (Applause.)  And I could not be prouder to have as one of my campaign co-chairs, your former Governor, the outstanding Ted Strickland is here.  (Applause.)

AUDIENCE MEMBER:  And an outstanding President!

THE PRESIDENT:  Oh, and an outstanding President, okay.  (Laughter and applause.)

Now, I just want to first of all say thank you, guys, for taking your time to come out.  I hope everybody had a wonderful Fourth of July.  We had a little barbecue in my backyard.  (Laughter.)  It was little.  Had a few fireworks.  Some of you know that Malia turned 14 yesterday.  (Applause.)  And she is just an incredible young lady, just like Sasha is.  Now, she used to be young enough where I could convince her that all these fireworks were for her birthday.  (Laughter.)  But she doesn’t believe me anymore.  (Laughter.) 

And Michelle sends her love.  (Applause.)  Malia was having a sleepover with some of her friends, and Michelle thought, you can’t just have a house full of girls and no parental supervision.  (Laughter.)  So, just letting you know.  But she says hi, the girls say hi, and Bo says hi.  (Applause.)

Now, you may not have noticed, but we’re in the middle of campaign season here.  And this will be -- one way or another, this will be my last campaign, which gets me to thinking about my first campaign.  And I was a lawyer and I was teaching law, and this seat -- the state Senate seat came up, and I told Michelle some people had talked to me about running for office, what did she think, and she said, well, that’s a dumb idea.  (Laughter.) 

But after I explained to her why I thought it might make sense for me to run, she joined in.  And we didn’t have a budget, we didn’t have TV ads.  We printed a bunch of stuff at Kinko’s -- (laughter) -- and we had a few friends who volunteered, and we started knocking on doors, and I’d go in front of the grocery store and I’d shake hands.  And we would march in parades -- in fact, the Fourth of July parade in Hyde Park, back in Chicago, they had a tradition where they made folks who were in office or running for office dress up.  And somebody had an outfit for me; it was sort of like a minuteman outfit with, like, a hat -- (laughter) -- and sort of the cutoff pants.  And my legs are kind of skinny, so I didn’t look very good in it.  (Laughter.)

AUDIENCE MEMBER:  (Whistles.)  (Laughter.)

THE PRESIDENT:  And then I won that race, and so I served in the state Senate, and then I got the idea of running for the United States Senate after serving eight years in the state Senate.  And I decided to go to Michelle and ask her what she thought, and she said, well, that’s a dumb idea.  (Laughter.)  But because I had had a chance as a state senator to travel the whole state of Illinois -- which is a lot like Ohio; it’s a mix of big cities and rural communities and folks from every walk of life -- and I started just traveling the state.  And I’d go to state fairs and we’d go to county fairs, and we’d stop in little towns and meet folks and go to VFW halls. 

And what I realized during that Senate race, and what I realized when I first ran for the state Senate, was the reason I got into politics was because in this country there is this core American idea that we celebrated yesterday -- and that is if you work hard, if you take responsibility for yourself and your family, and you don’t get discouraged when you hit some setbacks, you can make it if you try.  (Applause.)  The basic American bargain that says it doesn’t matter what you look like, where you come from, where you worship, the idea is that you don’t have to be born into fame or fortune -- if you're willing to apply yourself and work hard, you can make it.  You can follow your dreams.  (Applause.)

And the reason I got into that first race way back when, and the reason I ran for the Senate, and ultimately, the reason I ran for President, was because that had been available for my family.  My grandparents participated in World War II -- my grandfather fought in Patton's Army, and my grandmother worked on a bomber assembly line.  But when my grandfather came back, he was able to study on the GI Bill, and they were able to buy their first home with some help from the FHA.  America gave them that opportunity -- didn’t give them a handout, but gave them that chance.

And when my mom, a single mom who was raising two kids and trying to get her education, there were grants and loans available and she could instill a love of learning in me and my sister, and we had a chance to get a great education. 

And you look at Michelle's family -- her dad was what was called a stationary engineer at the water filtration plant in Chicago -- a blue-collar worker.  Even though he had MS, he'd have to wake up an hour earlier than everybody else to get dressed and get to the job, but he never missed a day of work.  And Michelle's mom, she stayed at home raising the kids and then later became a secretary.  They never had a lot, but they had a chance to give their kids this great education. 

And so my whole life and Michelle's whole life was an example of this American Dream, this idea that if you work hard and you can find a job that pays a living wage and you can afford a home; you won't go bankrupt when you get sick; you can retire with some dignity and respect; you can take a vacation -- it may not be fancy.  You might not be going to some fancy resort, but you can go with your kids and enjoy each other's company and see the amazing sights of this country. 

And the problem was that you could feel, over the last decade, how that dream was slipping away for too many people.  They were working harder and harder, but it seemed like wages weren't going up, incomes weren't going up, opportunities weren't increasing, the cost of health care was going up, the cost of college was going up, gas prices going up, groceries going up.  So that basic bargain felt like it was slipping away from too many people.  That's what got me into politics.  (Applause.) 

That's why I ran for the state Senate.  That's why I entered my first political race.  That's why I'm running my last political race, because I want to make sure that the next generation -- not just my kids, but everybody -- has that same chance, that we get that bargain back for America's middle class.  That's what Sherrod is fighting for and Marcy is fighting for and Betty is fighting for and I am fighting for.  That's what you believe in.  That's why I'm running for President of the United States of America.  (Applause.) 

AUDIENCE:  Four more years!  Four more years!

THE PRESIDENT:  Now, these past three and a half years have made it tough on everybody.  We saw the middle class struggling and folks who were trying to get into the middle class -- I want to say, by the way, when I talk about middle class, I'm also talking about poor folks who are doing the right thing and trying to get into the middle class.  (Applause.)  And middle class is also an attitude.  It's not just about income; it's about knowing what's important and not measuring your success just based on your bank account.  But it's about your values, and being responsible -- (applause) -- and looking after each other, and giving back.

AUDIENCE MEMBER:  Giving back.

THE PRESIDENT:  Giving back. 

And it was tough even before the crisis hit.  And then this crisis hit and the auto industry almost went under, and people lost their jobs and people lost their homes.  And we've been working 24/7, 365 days a year for the last three and a half years to try to right the ship and recover. 

And we've seen progress.  We've seen progress.  When some were saying let's let Detroit go bankrupt, I said let's bet on the American worker.  (Applause.)  And now that Chrysler plant is churning out some of the best cars in the world.  (Applause.)  And GM is back on top.  (Applause.)  And Ford is on the move. 

We've seen manufacturing start to come back to Ohio.  We've seen the unemployment rate drop.  So we've made progress.  But we all know we've got so much more work to do.  There are too many folks still out of work, homes still underwater, too many kids are still trying to figure out how to pay for their college education.  But you know what, these challenges had been building up over decades and we knew we weren’t going to turn it around overnight. 

What we wanted to do was make sure that we started moving in the right direction -- moving forward, not moving backwards.  (Applause.)  And we've been able to do that.  We've been moving forwards.  (Applause.)  And frankly, we've been moving forwards without a lot of help from the other side.  (Applause.)  We've been kind of yanking them -- they've been on our ankles and -- (laughter) -- pulling us back, but we've been moving forward. 

But the truth is there is so much more we could be doing.  And the reason I'm so glad you're here today is because the only way we are going to keep moving forward is with you. 

Now, I know you probably are already sick of this election, with all the commercials and all the nastiness that's out there and the foolishness and the misinformation, and all the political reporting about polls and who's up and who's down.

But, look, I want you to understand, nothing could be bigger right now than the choice you're about to make.  (Applause.)  The choice you're about to make.  Because it's more than just being about two candidates or two political parties -- this is about two fundamentally different visions of how we move forward. 

Mr. Romney and his allies in Congress, they've got a particular view.  They believe that if we cut taxes for especially the wealthiest Americans, about $5 trillion on top of the Bush tax cuts, paid for by cutting education and cutting -- making Medicare a voucher program, and cutting programs for our kids, that somehow if we do that and we eliminate regulations that we’ve put in place, thanks to the work of these great members of Congress, so that we don't have taxpayer bailouts of Wall Street banks anymore, that if we roll those back, that somehow all this is going to benefit you -- that first, it will benefit wealthy investors, and then things will rain down on you and benefit you in some fashion.  That's their theory. 

Now, let me just say this is a coherent theory.  You can see it on their websites.  They don't make a secret about what they're planning to do.  The only problem is we tried it -- we tried it for about 10 years right before I was elected as President of the United States, and it didn't work.  (Applause.)  It didn't make the middle class stronger.  Job growth was sluggish.  Your wages and your incomes did not go up. 

It didn't grow our economy the way it needed to.  And it culminated in the worst financial crisis we've had since the Great Depression.  So their theory was tried.  But it's a theory. 

I've got a different theory.  I think they're wrong.  (Applause.)  As Wendy said, I don't think we grow our economy from the top-down.  I think we grow the economy from the middle class-out.  (Applause.)  I think we grow the economy by making sure everybody has got a fair shot, and everybody is doing their fair share, and everybody is playing by the same set of rules. 

And so when I look at how do we move forward, I say, we're making progress in manufacturing -- let's make more progress.  Let's stop giving tax breaks to companies that are shipping jobs overseas.  Let's give them to companies that are investing right here in the United States of America.  (Applause.)

When I think about moving forward, I say, let's invest in advanced manufacturing -- in this 21st century economy -- for us to make sure that we're at the forefront of advanced battery manufacturing, so the next generation of cars are built here in America; investing in clean energy to make sure that solar panels and wind turbines are built here in the United States of America.  Those are smart investments.  That's how we move forward.  (Applause.)

When I think about moving forward, I think about how do we make sure that American young people are the best educated in the world.  (Applause.)  So I want to hire new teachers, especially in math and science, and I want to train them better and pay them better.  (Applause.)  And I want to give 2 million more people the opportunity to go to a community college and train for the jobs that exist right now.  And I want to make college more affordable for young people and bring tuition down.  That's how we move forward.  That's my vision for the future.  (Applause.)  

And, yes, I believe that we should have a health care system that works for middle-class families.  (Applause.)  And I am -- couldn't be prouder of the work that we have done in getting this health care law passed.  (Applause.)  And there is so much misinformation out there, so I just want to clear up a couple of things.  If you've got health insurance right now, here's what this bill means:  It means that insurance companies can't drop you for no reason or when you need it most.  (Applause.)  It means that your kids can stay on your health insurance plan until they're 26 and have really gotten a job that provides them benefits.  (Applause.) 

It means that they can't impose lifetime limits -- insurance companies can't impose lifetime limits, so that when you really need it, suddenly they say we don’t have any more insurance for you.  (Applause.)  It's a patient's bill of rights for you if you have insurance, and if you don’t have health insurance then it gives you a chance to buy into a pool so that you get the same deal as folks who are working at big companies do.  (Applause.)  And if you're a senior on Medicare, it means your prescription drug costs are going to be lower -- (applause) -- and we're going to close that donut hole that has hurt a lot of seniors.  (Applause.) 

Now, I think that was the right thing to do.  (Applause.)  That’s part of moving forward.

We need to have an American energy policy.  We're producing more oil and gas than we have in a long time, and we're importing less oil from overseas than we have in the past.  But we can keep on doing more -- not only increasing production of traditional fuels, but in developing and inventing new fuels, because we need to free ourselves from our dependence on foreign oil.  And, by the way, we can put people back to work in the process.  (Applause.)  That’s moving forward.

I want to rebuild America.  I promised I'd end the war in Iraq -- I ended the war in Iraq.  (Applause.)  We're transitioning out of Afghanistan.  We've taken on al Qaeda, and we killed bin Laden.  (Applause.)  And now, I want to take half the money that we're no longer spending on war and use it to drive down our deficits, and I want to take the other half to start doing some nation-building here in Ohio.  (Applause.)  Do some nation-building here at home.  Put people back to work rebuilding our roads and our bridges and our schools, laying broadband lines and high-speed rail.  (Applause.)  That’s how we built America.  That’s my idea of moving forward. 

So I've got a different vision, and nowhere is that vision, by the way, bigger than when it comes to how do we deal with our debt and our deficit.  Biggest contributors to our debt and our deficit, in addition to this recession, were two tax cuts that weren't paid for and two wars run on a credit card.  And Mr. Romney's proposal to deal with this is another $5 trillion of tax cuts that aren't paid for -- or if they're paid for, on the backs of you.  That's not a plan to deal with our deficits. 

So what I've said is, look, we're going to get rid of programs that don't work.  We don't want to waste money.  We can't afford it.  We don't have enough. 

And, by the way, I'm not somebody who believes that every government program works.  I don't think government can solve every problem.  I don't think we can always help folks who don't want to help themselves.  (Applause.)  Now, I don't care how much money we spend on schools if parents aren't parenting.  (Applause.) 

So government can't do everything, but there are some things we have to do to grow the economy.  So we've got to invest in education.  We've got to invest in basic science and research.  We've got to invest in infrastructure.  We've got to make sure that Medicare and Social Security are there for our seniors.

So in addition to wise spending cuts, there's nothing wrong with asking the wealthy to pay a little more in taxes.  (Applause.)  Now, let me just say this -- I don't need a tax cut.  Mr. Romney sure doesn't need a tax cut.  I mean, I don't want a tax cut if it means suddenly students are having a tougher time affording going to college.  I don't want a tax cut if it means seniors have to pay something more for Medicare.  (Applause.)  

And you know what, a lot of successful people agree with that.  And the reason they do is because they remember what it was like when they weren't successful and somebody gave them a helping hand.  And so I think a lot of people want to do the right thing.  But we can't have a culture that just encourages selfishness and looking out for yourself and not looking out for anybody else -- just looking out for you and not the next generation.  (Applause.)

So there are two fundamentally different visions about how we move the country forward.  And the great thing about our democracy is you get to be the tiebreaker.  (Applause.)  It's up to you.  It's up to you to decide what vision makes more sense -- Mr. Romney's vision, the vision of his Republican allies and some of the special interests in Washington.  We've tried that vision and it didn't work.  My vision -- the last time we tried it was when Bill Clinton was President and we created 23 million jobs, we had a budget surplus, and we created a whole lot of millionaires to boot.  (Applause.)  Everybody did well -- because we're in it together.  (Applause.)

And, ultimately, that's what it comes down to.  Do you believe that we're on our own, all of us?  Or do you believe we're in it together?  (Applause.)  See, when I think about what's made America great, it's been our rugged individualism and our willingness to take risks and people going out there and starting a small business that becomes a medium-sized business, becomes a big business, they start hiring -- all those things have contributed. 

But what has also made us great is there are some things we've understood we do together.  We built the Hoover Dam and the Golden Gate Bridge -- together.  We take care of our veterans -- together.  (Applause.)  We send them to school on the GI Bill -- together.  (Applause.)  We invest in basic research that creates the Internet -- together.  We sent a man to the moon -- together.  (Applause.)  We built the Interstate Highway System -- together.  (Applause.) 

We do these things not because it helps any one of us individually, but because it gives opportunity for all of us to succeed.  That's what's at stake in this election.  And you are the tiebreaker. 

Now, over the next four months, you will see a lot of stuff on TV.  The other side is spending more money than we've ever seen before.  I mean, you've got billionaires just writing $10 million checks.  They just -- they're spending money like nobody's business.  And all of them have the same message, all these ads, which basically is:  The economy is bad and it's Obama's fault.  (Laughter.)  I mean, they've got variations on this theme, but it's the same theme every time.

Sometimes, they say it's Obama's fault because he thinks government is all the answer.  Sometimes it's because, well, Obama, he doesn’t have private sector experience making a lot of money like the other guy.  Some of it is, well, he just thinks everything is fine or he is in over his head.  But it's all the same theme.

And I think a lot of people are looking at this -- they're saying, we don’t know how this is going to turn out because we've never seen a sitting President outspent like this, with all this money and all these negative attacks -- and maybe it’ll work. 

AUDIENCE:  No!

THE PRESIDENT:  But it's a plan to run a campaign; it's not a plan to put people back to work.  (Applause.)  Their plan is not a plan to grow the middle class. 

And when I think back to my first campaign, and I think back to that first Senate campaign that I ran, what I always remember, what Michelle and I learned was folks can spend a whole lot of money and they can run a whole bunch of negative attacks, but when the American people decide what's right; when ordinary people are reminded of what's best in us; when we remember what our values are and we're willing to fight for them; when we're willing to say, you know what, this is not just about me, but this is about my kids and my grandkids, and so I'm going to work as hard as I can and I'm going to talk to my friends and I'm going to talk to my neighbors, I'm going to talk to my coworkers, and I know it's going to be frustrating and I know it's going to be hard sometimes, and there are going to be setbacks, but I'm going to stay with it and enough people start having that feeling -- nothing can stop them.  (Applause.)

Nothing can stop you.  I don’t care how much the other side spends.  You cannot be stopped once you have decided what is right and what is true.  (Applause.) 

In the last election, I told people I'm not a perfect man, and I certainly wasn't going to be a perfect President.  But I said I'd always tell you what I thought, and I'd always tell you where I stood, and I'd spend every single day fighting as hard as I knew how for you -- (applause) -- to try to make sure that every single one of you had the same chance as my family had -- because I saw myself in you.  I saw my hopes and dreams in you.  And when I see your kids, I see my kids.  And when I see your grandparents, I see my grandparents.  And I have kept that promise. 

And as long as I have the privilege of being your President, I will keep that promise.  (Applause.)  Because I still believe in you.  And if you still believe in me, and if you're willing to stand with me, and knock on some doors with me, and make some phone calls with me, we will finish what we started in 2008, and we will grow this middle class, and we will strengthen America, and we'll remind the world just why it is that we live in the greatest nation on Earth. 

God bless you, and God bless the United States of America.  Thank you.

END
8:46 P.M. EDT

Remarks by the President at a Campaign Event

Wolcott House Museum Complex
Maumee, Ohio

12:00 P.M. EDT

THE PRESIDENT:  Hey!  (Applause.)  Hello, Ohio!  (Applause.)  Hello!  It is good to be back in Ohio.  All right.  Well, everybody who’s got a chair, feel free to sit down.  Just go ahead and relax.  I know it’s a little warm out here, but this is how summer is supposed to feel like.

A couple of people I want to acknowledge.  First of all, please give Ina a big round of applause for the great introduction.  We’re proud of her.  (Applause.)  I am so pleased to see once again the outstanding Mayor of Maumee, Tim Wagener.  (Applause.)  There he is.  One of the best Senators in the country -- your Senator, Sherrod Brown.  (Applause.)  One of your outstanding members of the congressional delegation -- Marcy Kaptur is here.  And your former governor and my campaign co-chair -- Ted Strickland is in the house.  (Applause.)

AUDIENCE MEMBER:  We love you!  

THE PRESIDENT:  I love you!  It’s great to see you.  (Applause.)  I hope everybody had a wonderful Fourth of July.  (Applause.)  We invited some people over for a barbecue -- (laughter) -- had a chance to say thank you to our incredible men and women in uniform.  (Applause.)  And we’re so proud of them.  And then it was Malia’s birthday yesterday.  (Applause.)  She’s 14 years old -- I know, it happens too fast.  (Laughter.)  Don’t even remind me.  She’s going into high school next year.  Which means that she’s -- see, when she was small I could say, all these fireworks I had arranged for her birthday.  (Laughter.)  But she doesn’t believe me anymore.  (Laughter.)  

Now, unless you have been hiding out in the woods somewhere, you are aware of the fact that it’s campaign season.  

AUDIENCE MEMBER:  We’re fired up and ready to go!

THE PRESIDENT:  You’re fired up!  (Applause.)  

It’s campaign season again.  Look, I understand it’s not always pretty to watch.  There has been more money flooding into the system than we’ve ever seen before.  More negative ads, more cynicism.  Most of what you read about or hear about on the news has to do with who is up or down in the polls, instead of what these issues actually mean for you and for America.  So it can be frustrating.  

And I know sometimes it may be tempting to kind of turn away from all of it, and just turn off the TV, TiVo everything that you want to watch so you can skip over the commercials.  It’s easy sometimes, I think, to lose interest and lose heart when you hear what’s going on in Washington.  And I’ll be honest with you -- I think there are some folks who are betting that you will lose interest, that are betting that somehow you’re going to lose heart.  But here you are in the heat.  (Applause.)  I’m betting you’re not going to lose interest.

AUDIENCE:  No!

THE PRESIDENT:  I’m betting you’re not going to lose heart.  

AUDIENCE:  No!

THE PRESIDENT:  I still believe in you.  I’m betting on you.  And the country is betting on you, Ohio.  (Applause.)  Because you understand that, even though politics may seem real small right now and may seem real petty, the choice in this election could not be clearer.  And it could not be bigger -- the stakes could not be bigger.  

AUDIENCE MEMBER:  You can do it!

THE PRESIDENT:  I know -- with you.  (Applause.)  

What’s going on in this election is bigger than just a choice between two candidates or between two parties.  It’s about two fundamentally different visions of where we go as a country.
 
See, I believe in an America where no matter who you are, no matter what you look like, no matter where you come from, you can make it if you try.  (Applause.)

We’ve never been a country that -- we've never been a country looking for handouts.  We’re a nation of strivers and risk-takers and entrepreneurs, workers.  (Applause.)  But what we ask for is that hard work pays off, that responsibility is rewarded.  The idea is if you take responsibility for your life, if you put in the effort, if you do the responsible thing, then you can find a job that pays a living wage, that you can look after your family, that you can buy a home, that you can retire with some dignity and some respect, that you won't go bankrupt when you get sick -- (applause) -- that you have that core, middle-class security that built this country, and that you can pass that on to your kids so they can do things that you never even imagined.  That's the essence of America.  

And I believe in that basic promise of America because I lived it.  That's my biography.  I had grandparents whose service at World War II was rewarded by them having a chance to go to college and buying their first house -- because I had a hardworking mother who raised me and my sister right, but also had some help so that we could end up going to the best schools in the country even though we didn't have a lot of money.  

I got involved in politics.  I ran for President in 2008, and some of you joined me in 2008 -- (applause) -- because we believed in that basic bargain that built the largest middle class in history and the strongest economy in the world.  And we felt like that basic bargain was slipping away, that hard work wasn’t always rewarded, that being responsible didn't always get you ahead, that folks who acted irresponsibly sometimes were making out like bandits while ordinary folks were having a tougher and tougher time.
 
So we came together in that election -- Democrats, but also independents and, yes, some Republicans -- to restore that basic bargain that built this country.  And we knew at the time it wouldn’t be easy.  We knew it would take more than one year or one term or maybe even one President.  But what we didn’t realize at the time was we were going to be hit by the worst economic crisis in our lifetimes.  

And that's been tough on a lot of folks, including people here in Ohio.  It robbed millions of people of their jobs and their homes and their savings.  And it pushed the American Dream even further from reach for a lot of people.
 
But you know what, this crisis has not changed the fundamental character of America.  It hasn’t changed the fundamental character of this town, or this state, or this part of the country.  We've still got people who are working hard.  We've still got people who are acting responsibly.  (Applause.)  It hasn't diminished our belief in those ideals we were fighting for in 2008.  (Applause.)

And our mission right now isn’t just to recover from this economic crisis, although that's job one.  Our mission is to give back to America, to Americans all across the country, what's been lost -- that sense of security.  Our goal isn’t just to put people back to work tomorrow; it’s also to build for the long haul an economy where hard work pays off -- (applause) -- an economy where everybody, whether you're starting a business or punching a clock, has confidence that if you work hard, you will get ahead.  That's what America is about.  That's what Ohio is about.  (Applause.)  
 
Now, I got to tell you, what’s holding us back is not --

AUDIENCE MEMBER:  Where is Michelle?

THE PRESIDENT:  Where's Michelle?  (Laughter.)  Look, I know I'm second fiddle -- (laughter) -- but I'll have Michelle come back sometime.  (Applause.)  I'm just the warm-up act.  Michelle says hi.  (Laughter.)    

AUDIENCE MEMBER:  We love you, Mr. President!

THE PRESIDENT:  Thank you so much.  I appreciate it.  

Now, let me say this.  What's holding us back from going ahead and meeting these challenges -- (audience interruption) --

AUDIENCE:  Four more years!  Four more years!  Four more years!  Four more years!  

THE PRESIDENT:  What's holding us back from meeting our challenges -- it’s not a lack of ideas, it’s not a lack of solutions.  What’s holding us back is we’ve got a stalemate in Washington between these two visions of where the country needs to go.  And this election is all about breaking that stalemate.  The outcome of this election will determine our economic future not just for the next year or the next two years, but maybe for the next decade or the next two.  

And I want everybody to be clear about what this choice is.  My opponent and his allies in Congress, they believe prosperity comes from the top down.  They believe if we eliminate most regulations and we cut taxes for the wealthy by trillions of dollars, that somehow our whole economy will benefit, and all of you will benefit, and there’s going to be more jobs and better security for everybody.  That’s their basic economic plan.

Now, I think they’re wrong about their vision.  And part of the reason I think they’re wrong is because we tried it, remember, just a while back --

AUDIENCE MEMBER:  It didn’t work.

THE PRESIDENT:  -- and it didn’t work.  We’re still paying for trillions of dollars in tax cuts that weren’t paid for and didn’t lead to better jobs or better wages for the middle class.  The lack of regulation on Wall Street, the kind of thing that they’re prescribing, that’s exactly what allowed people to game the system that caused this whole mess in the first place.   
 
So, no, I don’t think that Mr. Romney’s plan to spend trillions of dollars more on tax cuts for folks who don’t need them and aren’t even asking for them is the right way to grow our economy -- (applause) -- especially since they want to pay for it by cutting education spending and cutting job training programs and raising middle-class taxes.  

AUDIENCE:  No!

THE PRESIDENT:  And I sure don’t agree with his plan to keep giving tax breaks to companies that ship jobs overseas.  (Applause.)  I don’t think we’re better off by rolling back regulations on banks or insurance companies or oil companies --

AUDIENCE:  No!

THE PRESIDENT:  -- regulations that are meant to protect workers and consumers and families and our economy.   
 
So we don’t need more top-down economics.  We’ve tried it; it did not work.  What we need is somebody who is out there fighting for the middle class and wants to grow the middle class.  (Applause.)  

When the American auto industry was on the brink of collapse, and more than one million jobs were on the line, Governor Romney said we should just let Detroit go bankrupt.

AUDIENCE MEMBER:  That's what he said!

THE PRESIDENT:  I refused to turn my back on communities like this one.  I was betting on the American worker and I was betting on American industry.  (Applause.)  And three years later, the American auto industry is coming roaring back.  (Applause.)  That Chrysler plant up the road bringing on another 1,100 employees to make the cars that the world wants to buy.  The Wrangler built right here in Toledo just set an all-time sales record.  (Applause.)

What’s happening in Toledo can happen in cities like Cleveland, can happen in Pittsburgh.  It can happen in other industries.  And that’s why I’m running for a second term as President, because I’m going to make sure that it does.  I want it happening all across this country.  (Applause.)

AUDIENCE:  Four more years!  Four more years!  

THE PRESIDENT:  Just like Ina said, I want goods shipped around the world, stamped with "Made in America."  (Applause.)  Unlike my opponent, I want to stop giving tax breaks to companies that are shipping jobs overseas, start rewarding companies that are investing right here in Toledo, right here in Ohio, right here in Maumee.  That’s what I’m looking for.  (Applause.)

AUDIENCE MEMBER:  We are, too!

THE PRESIDENT:  Governor Romney’s experience has been in owning companies that were called "pioneers" of outsourcing.  That's not my phrase -- "pioneers" of outsourcing.  My experience has been in saving the American auto industry.  And as long as I’m President, that's what I'm going to be doing -- waking up every single day thinking about how we can create more jobs for your families and more security for your communities.  (Applause.)

That’s why my administration brought trade cases against China at a faster pace than the previous administration -- and we’ve won those cases.  Just this morning, my administration took a new action to hold China accountable for unfair trade practices that harm American automakers.  (Applause.)  

And let me tell you something.  Americans aren’t afraid to compete.  We believe in competition.  I believe in trade.  And I know this:  Americans and American workers build better products than anybody else -- (applause) -- so as long as we're competing on a fair playing field instead of an unfair playing field, we'll do just fine.  But we're going to make sure that competition is fair.  That's what I believe.  That's part of our vision for America.  (Applause.)  

But that’s not all it takes to rebuild this economy.  I’m running to make sure that America once again leads the world in educating our kids and training our workers.  (Applause.)  

Our tuition tax credit has saved millions of families thousands of dollars each -- and now I want to extend it.  We won the fight in Congress to stop Congress from letting student loans double.  (Applause.)  And now we're working with colleges and universities to start bringing tuition costs down.  (Applause.)

I want our schools to hire and reward the best teachers -- (applause) -- especially in math and science.  I want to give
2 million more Americans the chance to go to community colleges and learn skills that local businesses are looking for right now.  See, in the 21st century, a higher education is not a luxury; it is an economic necessity for every single one of our young people -- (applause) -- and folks who are retraining to get the jobs of the future, and our veterans who are coming home.  And we need to take care of all of them and give them those opportunities to work their way into the middle class.  (Applause.)

God bless you.  Thanks for your service.  

AUDIENCE MEMBER:  My pleasure, sir.  

THE PRESIDENT:  God bless you.  Freedom is not free, and you fought for it.  (Applause.)   

I’m running to give more responsible homeowners the chance to refinance their mortgage and save $3,000 a year.  (Applause.)  We've got low interest rates right now, but a lot of folks are having trouble refinancing with their banks.  We've said to Congress, let's go ahead and help them refinance, because that extra -- can you use an extra $3,000?

AUDIENCE:  Yes!

THE PRESIDENT:  And that means you're spending at restaurants and you're buying stuff at the store and -- you're buying some clothes, is that what you said?  (Laughter.)  That you're putting that money back into circulation -- that's good for everybody.  It's good for small businesses; it's good for large businesses.  We've already given thousands of families the chance to do this.  My opponent, his plan for the housing market is to let it hit bottom.

AUDIENCE:  Booo --

THE PRESIDENT:  That's not a plan.  That's a problem, that's not a solution.  

I’m running because I believe that in America, nobody should go bankrupt because they get sick.  (Applause.)  I’ll work with anybody who wants to work with me to continue to improve our health care system and our health care laws.  (Applause.)  But the law I passed is here to stay.  (Applause.)

And let me tell you something, Maumee.  It is going to make the vast majority of Americans more secure.  We will not go back to the days when insurance companies could discriminate against people just because they were sick.  We're not going to tell 6 million young people who are now on their parent's health insurance plans that suddenly they don't have health insurance.  We're not going to allow Medicare to be turned into a voucher system.  

Now is not the time to spend four more years refighting battles we fought two years ago.  Now is the time to move forward and make sure that every American has affordable health insurance -- (applause) -- and that insurance companies are treating them fairly.  That’s what we fought for.  That’s what we're going to keep.  We are moving forward.  (Applause.)

AUDIENCE:  Four more years!  Four more years!  Four more years!

THE PRESIDENT:  And, Maumee, I'm running because after a decade of war, it’s time to do some nation-building here at home.  (Applause.)  We ended the war in Iraq.  We are transitioning out of Afghanistan.  My plan would take half the money that we've been spending on war, let's use it to put people back to work rebuilding our roads, rebuilding our bridges, rebuilding our schools, getting those construction workers out and about rebuilding America.  (Applause.)  That’s how we build our future.  We can't go backwards.  We've got to move forward.  

I’m running to make sure that we can afford all this by paying down the debt in a balanced way, in a responsible way.  Keep in mind, we had a surplus last time there was a Democratic President.  (Applause.)  They ran up the tab, put two wars on a credit card, tax cuts not paid for, prescription drug plan not paid for, left us the tab.  Well, we're going to clean it up, but we're going to clean it up not on the backs of the middle class -- we're going to do it in a balanced and responsible way.  

I'll cut spending like we already have on things we can’t afford and aren't helping people.  But unlike my opponent, I’ll ask the wealthiest Americans who enjoyed the biggest tax cuts over the past decade to do a little more.  (Applause.)  

And by the way, just like we know what they did didn’t work, we know what I'm talking about did work, because what I'm talking about is what Bill Clinton did as President.  Our economy created 23 million new jobs, the biggest budget surplus in history, and by the way, we made a whole bunch of millionaires as well.  (Applause.)  It wasn't like rich people were doing bad back in the '90s.  They were doing just fine, right?

AUDIENCE:  Right.

THE PRESIDENT:  And you know what, there are plenty of patriotic, successful Americans who agree with us.  They want to do the right thing because they care about this country.   

On jobs, on education, on housing, on health care, on retirement, on all these things that are the pillars of a middle-class life, we can’t go backwards.  We've got to go forwards.  And that’s the choice facing us this November.  And the choice could not be more clear.

Now, I’m not here to tell you, Ohio, that this is going to be easy, or it's going to be quick.  Changes that we're trying to bring about -- we're dealing with problems that happened over the course of decades.  They're not going to be changed overnight.  And I know sometimes people feel like, well, Obama, he's done some good things, but, boy, things are still tough out there, change hasn't happened fast enough.  I understand that.  I get frustrated, too.  But what's required are long-term solutions, not slick promises, not quick fixes.  

And there are plenty of well-funded special interests in Washington, and their powerful allies in Congress, who want to keep things just the way they are.  But don’t ever buy the line that they’re selling that we can somehow accomplish more by doing less.  That might benefit their interests, but it won’t benefit yours.  

That’s not how we became America.  Our parents, our grandparents, the founders of this country, didn’t set their sights lower.  They didn’t settle for something less.  And neither do we -- because we’re Americans.  If we’re going to be the country we know we can be, we’ve got to keep doing the hard work of building the future of this country for our kids, just like our parents and grandparents did for us.  (Applause.)  

And let me tell you something.  From now until November, the other side is going to spend more money than we’ve ever seen before, and they will be raining ads down on your head.  And they’ll tell you it’s all my fault -- I can’t fix it because I think government is the answer to everything, or because I haven’t make a lot of money in the private sector, or I think everything is doing just fine.  That’s what all the scary voices in the ads will tell you.  That’s what Mitt Romney will say.  That’s what Republicans in Congress will say.  

And that’s their plan for winning an election, but it’s not a plan to create jobs.  (Applause.)  It’s not a plan to provide you with greater security for you and your family.  It’s not a plan to restore the middle class or restore the American Dream.  And that’s the kind of plan we need right now, is a plan to build the middle class and restore the American Dream.  

And if you agree with me -- if you believe that our economy works best when everybody gets a fair shot and everybody is doing their fair share and everybody is playing by the same set of rules, then I’m going to need you out there working.  And you know what, I need you to talk to your friends and your neighbors.  Don’t just talk to Democrats.  Talk to independents, talks to Republicans.  (Applause.)  Because I want to work with anybody who believes that we’re in this together.  (Applause.)  I want to work with anybody who believes we’ve got to invest in our future.  I want to work with anybody who thinks we’ve got to give our kids a great education.  I want to work with anybody who believes that we’ve got to make sure that we’re building things here in America.  (Applause.)

I’m not a Democrat first; I’m an American first.  (Applause.)  I believe we rise or fall as one nation, as one people.  And I believe what’s stopping us is not our capacity to meet our challenges; what’s stopping us is our politics.  And that’s something you have the power to solve.

So hit the doors.  Make some phone calls.  Register your friends.  Talk to those family members who sometimes don’t vote.  Remind them where America’s strength comes from -- it comes from our people.  Remind them how America came this far -- it came because of our people.

All this money that’s being spent on negative ads in this campaign -- they spent money in 2008.  I got outspent when I ran first time for Senate.  But you know what I have learned?  When the American people, when ordinary folks start standing up for themselves, start making their voices heard, start coming together, start believing again, nothing can stop them.  (Applause.)   

Nothing can stop you.  Nothing can stop you, Maumee.  (Applause.)  Nothing can stop you, Ohio.  Nothing can stop us, America.  (Applause.)  Let’s remind the world just why it is we live in the greatest nation on Earth.  (Applause.)   

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

END
12:27 P.M. EDT