Remarks by the President at a Campaign Event

Private Residence
New York, New York

8:05 P.M. EDT

THE PRESIDENT:  Well, first of all, to Sarah Jessica and her whole crew -- (laughter) -- Matthew apparently had a show he had to run off to -- but for them to let us crash their house, Secret
Service tromping all over the place, is incredibly generous.  And they've been great friends.  Sarah Jessica is doing all kinds of stuff with our Arts and Humanities Council and she has been a great leader and champion on behalf of the arts.  And we could not thank her more for everything that she's done.  So please give her a big round of applause.  (Applause.) 

To Anna, who has been just a great friend, and I think this is -- she is working really hard here in New York, but she actually was in Chicago as well, making things happen on our behalf.  So, thank you, Anna, for everything that you do.  (Applause.) 

Now, I recognize that most of you are here to see Michelle. (Laughter.)  I understand.  I have been there before.  I always explain I rank fifth in the hierarchy in the White House.  (Laughter.)  There's Michelle, my mother-in-law, the two girls, Bo -- so that actually makes it six -- (laughter) -- in terms of star wattage.  People come to the White House -- first they ask, where's Michelle?  They ask, where are the girls?  And then they say, where's Bo?  (Laughter.)  But that's okay.  See, that's how you're thinking, too, isn’t it?  (Laughter.)  It makes sense to you.

But I do want to say -- I don't get a chance to say this a lot publicly -- some of you know that Michelle had some skepticism about a life in politics.  I think that's well known. And so the grace and the strength and the poise and the warmth that she has brought to an extraordinarily difficult task as First Lady and still being the best mom imaginable couldn't make me prouder.  And so I'm very pleased she's here.  And this is sort of our date night, so -- (applause.)

Now, because this is an intimate setting I usually don't give a long speech -- and I already gave a long speech today.  So what I'd rather do is spend most of my time taking questions and getting comments and advice.  I usually get some advice.  That's one of the things about the President -- (laughter) -- you have advisors everywhere.  But let me just say a few things at the top.

In 2208, when we came together, it was because we had a sense that some of the core values, the basic bargain that had made this country the extraordinary place it is had been betrayed, or at least misplaced.  We had a country in which folks who didn’t need them were getting tax cuts that exploded the deficit.  We had two wars that were placed on a credit card.  We had an economy that was doing very well for a few, but for a huge number of people -- and a growing number of people -- meant harder work for less pay, lower incomes, more stress. 

And Michelle and I, I think, embody the essence of an America in which if you are willing to work hard, if you're willing to take responsibility not just for your own life, but for your community and your family, your neighborhood, that you can make it in this country, regardless of what you look like, where you come from, who you love, what your faith.  And that basic bargain, that dream, felt like it was eroding. 

So that’s why I ran in 2008, and that’s why a lot of you supported me in 2008.

What we didn’t know was that we would end up experiencing the worst financial crisis since the Great Depression -- 9 million people ultimately losing their jobs, millions of homes in foreclosure, people having a harder and harder time just making ends meet. 

And the good news is that because of the incredible resilience of the American people -- and one of the great privileges of being President is you travel all across the country and you meet people from every walk of life -- the good news is because of their resilience, we’ve begun to come back.

So we’ve created more than 4 million jobs over the last 27 months, 800,000 this year alone.  We were able to stabilize the financial system.  Manufacturing started coming back.  Sometimes we had to make some tough choices like bailing out the auto industry.  But because we had faith in those workers and we had faith in American ingenuity, GM is now back on top and -- (applause) -- that’s worth applauding.  Yes, why not?  Why not?  (Applause.)  James has been dying to -- he wanted to fire up the crowd a little bit.

AUDIENCE MEMBER:  He knows how to applause line.

THE PRESIDENT:  Absolutely.  And that was a good one -- right on cue.  (Laughter.)  

But there are still a lot of people hurting out there.  We have not come all the way back.  And with what’s happening in Europe and what’s happening around the globe, the economy is fragile.  And we have to remind ourselves of how much more we have to do not just to get back to where we were before the crisis hit, but how do we get back to that core American ideal in which everybody has a shot -- everybody has a fair shot, everybody is doing their fair share, and everybody is playing by the same set of rules.

And so even as we try to address the crisis -- that was our first order of business -- what we also tried to do was slowly begin a process of reforming our institutions so that we can build a strong middle class and give a ladder of opportunity for people who are trying to get into the middle class. 

That’s why we passed health care reform.  That’s the reason why we made sure that we reformed our financial system so we wouldn’t go through the kind of crisis that we did in 2008.  That’s why we reformed our student loans system so millions of students have a better chance of going to college.  That’s why we invested in science and research, because we understand that’s how we’re going to be able to compete over the long term in this very competitive economy.

And that’s why I’m running for a second term -- because our work is not yet done.  We still have to put more people back to work.  We still have to rebuild America.  We still have to reform our immigration system to make sure that incredibly talented young people who grew up here, who understand themselves as Americans, but may have been brought here with parents who didn’t have papers -- that those kids have a chance to contribute, start businesses, and thrive and do all the things that remind us this is a nation of immigrants as well as a nation of laws.  (Applause.)

We’ve got to make sure that health care gets implemented.  Having ended the war in Iraq, we have to now make sure that we’re dealing with a transition in Afghanistan that’s responsible, but ends the war by 2014.  We have to continue to restore respect for America around the world because we observe rule of law, and we’ve eliminated torture, and we’ve once again reached out to countries on the basis of our ideals and our values, and not just our incredible military.  And we’ve got to take care of our veterans who have fought for us and are now coming home, because they shouldn’t have to fight for a job after they fought for us.

So we’ve got a huge amount of work to do.  And the speech that I gave today focused on the fact that we’ve still got a choice.  We’ve got as fundamental a choice this time out as we've had maybe in 30, 40, 50 years. 

In some ways, this election is more important than 2008 -- because in 2008, as much as I disagreed with Mr. McCain, he believed in climate change.  He believed in campaign finance reform.  He believed in immigration reform.  And now what we have is a Republican nominee and a Republican Party that has moved fundamentally away from what used to be a bipartisan consensus about how you build an economy; that has said our entire agenda is based on cutting taxes even more for people who don’t need them and weren’t asking for them; slashing our commitment to things like education or science or infrastructure or a basic social safety net for seniors and the disabled and the infirm; that wants to gut regulations for polluters or those who are taking advantage of consumers. 

So they’ve got a very specific theory about how you grow the economy.  It’s not very different from the one that actually got us into this mess in the first place.  And what we’re going to have to do is to present very clearly to the American people that choice.  Because ultimately you guys and the American people, you’re the tie-breaker.  You’re the ultimate arbiter of which direction this country goes in.  Do we go in a direction where we’re all in this together and we share in prosperity, or do we believe that everybody is on their own and we’ll see how it plays out? 

And I am absolutely convinced in my gut that we are in this together, and that for all the differences that you hear about in the news and on cable, there is still a lot more that we have in common than what drives us apart.  And I think our ideas are ones that the American people believe in. 

But we’re going to have to fight for it, because the American people are tired.  They’ve gone through a very tough economy.  They’re still having a tough time.  And that’s why this election is going to be close.  Because at a certain point, the other side is going to spend $500 million with a very simple message, which is:  You’re frustrated, you’re disappointed, and it’s the fault of the guy in the White House.  And that’s a -- it’s an elegant message.  It happens to be wrong, but it’s crisp. You can fit it on a bumper sticker.

And so we’re going to have to work hard in this election.  We’re going to have to work harder than we did in 2008.  But the good news is, from those travels around the country, I will tell you people remain hopeful, they remain resilient, and ultimately, they prefer our vision of the future.  So we’ve just got to present it to them, and go out and win an election, and then we’re going to have to spend four more years doing a lot of work.

And I want you to know, despite the fact that my hair is a little grayer than it was -- (laughter) -- when I started on this journey, I’ve never been more determined and more convinced about the importance of our cause.

Thank you, everybody.  Thank you. 

END  
8:19 P.M. EDT

Remarks by the President on the Economy -- Cleveland, OH

Cuyahoga Community College
Cleveland, Ohio

2:02 P.M. EDT

THE PRESIDENT:  Thank you!  (Applause.)  Thank you, everybody.  Good afternoon, everybody.  (Applause.)  It is great to be back in Cleveland.  (Applause.)  It is great to be back here at Cuyahoga Community College.  (Applause.) 

I want to, first of all, thank Angela for her introduction and sharing her story.  I know her daughter is very proud of her -- I know her daughter is here today.  So give her a big round of applause.  (Applause.)  I want to thank your president, Dr. Jerry-Sue Thornton.  (Applause.)  And I want to thank some members of Congress who made the trip today -- Representative Marcia Fudge, Representative Betty Sutton, and Representative Marcy Kaptur.  (Applause.)

Now, those of you who have a seat, feel free to sit down.  (Laughter and applause.) 

AUDIENCE MEMBER:  We love you!  (Applause.)

THE PRESIDENT:  Thank you.

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

THE PRESIDENT:  Thank you. 

So, Ohio, over the next five months, this election will take many twists and many turns.  Polls will go up and polls will go down.  There will be no shortage of gaffes and controversies that keep both campaigns busy and give the press something to write about.  You may have heard I recently made my own unique contribution to that process.  (Laughter.)  It wasn’t the first time; it won’t be the last.  (Laughter.)   

And in the coming weeks, Governor Romney and I will spend time debating our records and our experience -- as we should.  But though we will have many differences over the course of this campaign, there's one place where I stand in complete agreement with my opponent:  This election is about our economic future.  (Applause.) 

Yes, foreign policy matters.  Social issues matter.  But more than anything else, this election presents a choice between two fundamentally different visions of how to create strong, sustained growth; how to pay down our long-term debt; and most of all, how to generate good, middle-class jobs so people can have confidence that if they work hard, they can get ahead.  (Applause.) 

Now, this isn’t some abstract debate.  This is not another trivial Washington argument.  I have said that this is the defining issue of our time -- and I mean it.  I said that this is a make-or-break moment for America’s middle class -- and I believe it.  The decisions we make in the next few years on everything from debt and taxes to energy and education will have an enormous impact on this country and on the country we pass on to our children. 

Now, these challenges are not new.  We’ve been wrestling with these issues for a long time.  The problems we’re facing right now have been more than a decade in the making.  And what is holding us back is not a lack of big ideas.  It isn’t a matter of finding the right technical solution.  Both parties have laid out their policies on the table for all to see.  What’s holding us back is a stalemate in Washington between two fundamentally different views of which direction America should take.   

And this election is your chance to break that stalemate.  (Applause.) 

At stake is not simply a choice between two candidates or two political parties, but between two paths for our country.  And while there are many things to discuss in this campaign, nothing is more important than an honest debate about where these two paths would lead us. 

Now, that debate starts with an understanding of where we are and how we got here. 

Long before the economic crisis of 2008, the basic bargain at the heart of this country had begun to erode.  For more than a decade, it had become harder to find a job that paid the bills -- harder to save, harder to retire; harder to keep up with rising costs of gas and health care and college tuitions.  You know that; you lived it.  (Applause.)

During that decade, there was a specific theory in Washington about how to meet this challenge.  We were told that huge tax cuts -- especially for the wealthiest Americans -- would lead to faster job growth.  We were told that fewer regulations -- especially for big financial institutions and corporations -- would bring about widespread prosperity.  We were told that it was okay to put two wars on the nation’s credit card; that tax cuts would create enough growth to pay for themselves.  That’s what we were told.  So how did this economic theory work out?

AUDIENCE MEMBER:  Terrible.  (Laughter.) 

THE PRESIDENT:  For the wealthiest Americans, it worked out pretty well.  Over the last few decades, the income of the top 1 percent grew by more than 275 percent -- to an average of $1.3 million a year.  Big financial institutions, corporations saw their profits soar.  But prosperity never trickled down to the middle class. 

From 2001 to 2008, we had the slowest job growth in half a century.  The typical family saw their incomes fall.  The failure to pay for the tax cuts and the wars took us from record surpluses under President Bill Clinton to record deficits.  And it left us unprepared to deal with the retirement of an aging population that’s placing a greater strain on programs like Medicare and Social Security. 

Without strong enough regulations, families were enticed, and sometimes tricked, into buying homes they couldn’t afford.  Banks and investors were allowed to package and sell risky mortgages.  Huge, reckless bets were made with other people’s money on the line.  And too many from Wall Street to Washington simply looked the other way.

For a while, credit cards and home equity loans papered over the reality of this new economy -- people borrowed money to keep up.  But the growth that took place during this time period turned out to be a house of cards.  And in the fall of 2008, it all came tumbling down -- with a financial crisis that plunged the world into the worst economic crisis since the Great Depression. 

Here in America, families’ wealth declined at a rate nearly seven times faster than when the market crashed in 1929.  Millions of homes were foreclosed.  Our deficit soared.  And nine million of our citizens lost their jobs -- 9 million hardworking Americans who had met their responsibilities, but were forced to pay for the irresponsibility of others. 

In other words, this was not your normal recession.  Throughout history, it has typically taken countries up to 10 years to recover from financial crises of this magnitude.  Today, the economies of many European countries still aren’t growing.  And their unemployment rate averages around 11 percent. 

But here in the United States, Americans showed their grit and showed their determination.  We acted fast.  Our economy started growing again six months after I took office and it has continued to grow for the last three years.  (Applause.) 

Our businesses have gone back to basics and created over 4 million jobs in the last 27 months -- (applause) -- more private sector jobs than were created during the entire seven years before this crisis -- in a little over two years.  (Applause.) 

Manufacturers have started investing in America again -- including right here in Ohio.  (Applause.)  And across America, we've seen them create almost 500,000 jobs in the last 27 months -- the strongest period of manufacturing job growth since 1995.  (Applause.) 

And when my opponent and others were arguing that we should let Detroit go bankrupt, we made a bet on American workers and the ingenuity of American companies -- and today our auto industry is back on top of the world.  (Applause.)

But let’s be clear:  Not only are we digging out of a hole that is 9 million jobs deep, we’re digging out from an entire decade where 6 million manufacturing jobs left our shores; where costs rose but incomes and wages didn’t; and where the middle class fell further and further behind. 

So recovering from the crisis of 2008 has always been the first and most urgent order of business -- but it’s not enough.  Our economy won’t be truly healthy until we reverse that much longer and profound erosion of middle-class jobs and middle-class incomes. 

So the debate in this election is not about whether we need to grow faster, or whether we need to create more jobs, or whether we need to pay down our debt.  Of course the economy isn’t where it needs to be.  Of course we have a lot more work to do.  Everybody knows that.  The debate in this election is about how we grow faster, and how we create more jobs, and how we pay down our debt.  (Applause.)  That’s the question facing the American voter.  And in this election, you have two very different visions to choose from.

AUDIENCE MEMBER:  No, we don’t! (Laughter.)

AUDIENCE MEMBER:  Obama!  (Applause.)

THE PRESIDENT:  Governor Romney and his allies in Congress believe deeply in the theory that we tried during the last decade -- the theory that the best way to grow the economy is from the top down.  So they maintain that if we eliminate most regulations, if we cut taxes by trillions of dollars, if we strip down government to national security and a few other basic functions, then the power of businesses to create jobs and prosperity will be unleashed, and that will automatically benefit us all.   

That’s what they believe.  This is their economic plan.  It has been placed before Congress.  Governor Romney has given speeches about it, and it’s on his website.  So if they win the election, their agenda will be simple and straightforward.  They have spelled it out:  They promise to roll back regulations on banks and polluters, on insurance companies and oil companies.  They’ll roll back regulations designed to protect consumers and workers.  They promise to not only keep all of the Bush tax cuts in place, but add another $5 trillion in tax cuts on top of that. 

Now, an independent study says that about 70 percent of this new, $5 trillion tax cut would go to folks making over $200,000 a year.  And folks making over a million dollars a year would get an average tax cut of about 25 percent. 

Now, this is not my opinion.  This is not political spin.  This is precisely what they have proposed. 

Now, your next question may be, how do you spend $5 trillion on a tax cut and still bring down the deficit?  Well, they tell us they’ll start by cutting nearly a trillion dollars from the part of our budget that includes everything from education and job training to medical research and clean energy. 

AUDIENCE:  Booo --

THE PRESIDENT:  Now, I want to be very fair here.  I want to be clear.  They haven’t specified exactly where the knife would fall.  But here’s some of what would happen if that cut that they’ve proposed was spread evenly across the budget:  10 million college students would lose an average of $1,000 each in financial aid; 200,000 children would lose the chance to get an early education in the Head Start program.  There would be 1,600 fewer medical research grants for things like Alzheimer’s and cancer and AIDS; 4,000 fewer scientific research grants, eliminating support for 48,000 researchers, students and teachers. 

Now, again, they have not specified which of these cuts they choose from.  But if they want to make smaller cuts to areas like science or medical research, then they’d have to cut things like financial aid or education even further.  But either way, the cuts to this part of the budget would be deeper than anything we’ve ever seen in modern times. 

Not only does their plan eliminate health insurance for 33 million Americans by repealing the Affordable Care Act --

AUDIENCE:  Booo --

THE PRESIDENT:  -- according to the independent Kaiser Family Foundation, it would also take away coverage from another 19 million Americans who rely on Medicaid -- including millions of nursing home patients, and families who have children with autism and other disabilities.  And they proposed turning Medicare into a voucher program, which will shift more costs to seniors and eventually end the program as we know it. 

But it doesn’t stop there.  Even if you make all the cuts that they’ve proposed, the math still doesn’t allow you to pay for a new, $5 trillion tax cut and bring down the deficit at the same time.  So Mr. Romney and his allies have told us we can get the rest of the way there by reforming the tax code and taking away certain tax breaks and deductions that, again, they haven’t specified.  They haven’t named them, but they said we can do it.

But here's the problem:  The only tax breaks and deductions that get you anywhere close to $5 trillion are those that help middle-class families afford health care and college and retirement and homeownership.  Without those tax benefits, tens of millions of middle-class families will end up paying higher taxes.  Many of you would end up paying higher taxes to pay for this other tax cut. 

And keep in mind that all of this is just to pay for their new $5 trillion tax cut.  If you want to close the deficit left by the Bush tax cuts, we’d have to make deeper cuts or raise middle-class taxes even more.

This is not spin.  This is not my opinion.  These are facts.  This is what they’re presenting as their plan.  This is their vision.  There is nothing new -- just what Bill Clinton has called the same ideas they’ve tried before, except on steroids.  (Laughter and applause.) 

Now, I understand I’ve got a lot of supporters here, but I want to speak to everybody who's watching who may not be a supporter -- may be undecided, or thinking about voting the other way.  If you agree with the approach I just described, if you want to give the policies of the last decade another try, then you should vote for Mr. Romney. 

AUDIENCE:  Booo --

THE PRESIDENT:  Now, like I said, I know I’ve got supporters here.   No, no, you should vote for his allies in Congress. 

AUDIENCE:  No!

THE PRESIDENT:  You should take them at their word, and they will take America down this path.  And Mr. Romney is qualified to deliver on that plan.  (Laughter and applause.)  No, he is.  (Applause.)  I’m giving you an honest presentation of what he’s proposing.   

Now, I'm looking forward to the press following up and making sure that you know I'm not exaggerating.  (Applause.) 

I believe their approach is wrong.  And I’m not alone.  I have not seen a single independent analysis that says my opponent’s economic plan would actually reduce the deficit.  Not one.  Even analysts who may agree with parts of his economic theory don’t believe that his plan would create more jobs in the short term.  They don’t claim his plan would help folks looking for work right now. 

In fact, just the other week, one economist from Moody’s said the following about Mr. Romney’s plan -- and I'm quoting here -- "On net, all of these policies would do more harm in the short term.  If we implemented all of his policies, it would push us deeper into recession and make the recovery slower." 

That's not my spin.  That's not my opinion.  That's what independent economic analysis says.  

As for the long term, remember that the economic vision of Mr. Romney and his allies in Congress was tested just a few years ago.  We tried this.  Their policies did not grow the economy.  They did not grow the middle class.  They did not reduce our debt.  Why would we think that they would work better this time?  (Applause.) 

We can’t afford to jeopardize our future by repeating the mistakes of the past -- not now, not when there’s so much at stake.  (Applause.)  

I've got a different vision for America.  (Applause.)  I believe that you can’t bring down the debt without a strong and growing economy.  And I believe you can’t have a strong and growing economy without a strong and growing middle class.  (Applause.)  

This has to be our North Star -- an economy that’s built not from the top down, but from a growing middle class, that provides ladders of opportunity for folks who aren't yet in the middle class. 

You see, we’ll never be able to compete with some countries when it comes to paying workers lower wages or letting companies do more polluting.  That’s a race to the bottom that we should not want to win.  (Applause.)  Because those countries don't have a strong middle class; they don’t have our standard of living.  (Applause.) 

The race I want us to win -- the race I know we can win -- is a race to the top.  I see an America with the best-educated, best-trained workers in the world; an America with a commitment to research and development that is second to none, especially when it comes to new sources of energy and high-tech manufacturing.  I see a country that offers businesses the fastest, most reliable transportation and communication systems of anywhere on Earth.  (Applause.) 

I see a future where we pay down our deficit in a way that is balanced -- not by placing the entire burden on the middle class and the poor, but by cutting out programs we can’t afford, and asking the wealthiest Americans to contribute their fair share.  (Applause.) 

That’s my vision for America:  Education.  Energy.  Innovation.  Infrastructure.  And a tax code focused on American job creation and balanced deficit reduction.  (Applause.) 

This is the vision behind the jobs plan I sent Congress back in September -- a bill filled with bipartisan ideas that, according to independent economists, would create up to 1 million additional jobs if passed today. 

This is the vision behind the deficit plan I sent to Congress back in September -- a detailed proposal that would reduce our deficit by $4 trillion through shared sacrifice and shared responsibility.   

This is the vision I intend to pursue in my second term as President -- (applause) -- because I believe if we do these things -- if we do these things, more companies will start here, and stay here, and hire here; and more Americans will be able to find jobs that support a middle-class lifestyle. 

Understand, despite what you hear from my opponent, this has never been a vision about how government creates jobs or has the answers to all our problems.  Over the last three years, I’ve cut taxes for the typical working family by $3,600.  (Applause.)  I’ve cut taxes for small businesses 18 times.  (Applause.)  I have approved fewer regulations in the first three years of my presidency than my Republican predecessor did in his.  And I’m implementing over 500 reforms to fix regulations that were costing folks too much for no reason. 

I’ve asked Congress for the authority to reorganize the federal government that was built for the last century -- I want to make it work for the 21st century.  (Applause.)  A federal government that is leaner and more efficient, and more responsive to the American people. 

I’ve signed a law that cuts spending and reduces our deficit by $2 trillion.  My own deficit plan would strengthen Medicare and Medicaid for the long haul by slowing the growth of health care costs -- not shifting them to seniors and vulnerable families.  (Applause.)  And my plan would reduce our yearly domestic spending to its lowest level as a share of the economy in nearly 60 years. 

So, no, I don’t believe the government is the answer to all our problems.  I don’t believe every regulation is smart, or that every tax dollar is spent wisely.  I don’t believe that we should be in the business of helping people who refuse to help themselves.  (Applause.)  But I do share the belief of our first Republican President, from my home state -- Abraham Lincoln -- that through government, we should do together what we cannot do as well for ourselves.  (Applause.)  

That’s how we built this country -- together.  We constructed railroads and highways, the Hoover Dam and the Golden Gate Bridge.  We did those things together.  We sent my grandfather’s generation to college on the GI Bill -- together.  (Applause.)  We instituted a minimum wage and rules that protected people’s bank deposits -- together.  (Applause.) 

Together, we touched the surface of the moon, unlocked the mystery of the atom, connected the world through our own science and imagination. 

We haven’t done these things as Democrats or Republicans.  We’ve done them as Americans.  (Applause.) 

As much as we might associate the GI Bill with Franklin Roosevelt, or Medicare with Lyndon Johnson, it was a Republican -- Lincoln -- who launched the Transcontinental Railroad, the National Academy of Sciences, land-grant colleges.  It was a Republican -- Eisenhower -- who launched the Interstate Highway System and a new era of scientific research.  It was Nixon who created the Environmental Protection Agency; Reagan who worked with Democrats to save Social Security, -- and who, by the way, raised taxes to help pay down an exploding deficit.  (Applause.)

Yes, there have been fierce arguments throughout our history between both parties about the exact size and role of government -- some honest disagreements.  But in the decades after World War II, there was a general consensus that the market couldn’t solve all of our problems on its own; that we needed certain investments to give hardworking Americans skills they needed to get a good job, and entrepreneurs the platforms they needed to create good jobs; that we needed consumer protections that made American products safe and American markets sound. 

In the last century, this consensus -- this shared vision  -- led to the strongest economic growth and the largest middle class that the world has ever known.  It led to a shared prosperity. 

It is this vision that has guided all my economic policies during my first term as President -- whether in the design of a health care law that relies on private insurance, or an approach to Wall Street reform that encourages financial innovation but guards against reckless risk-taking.  It’s this vision that Democrats and Republicans used to share that Mr. Romney and the current Republican Congress have rejected -- in favor of a "no holds barred," "government is the enemy," "market is everything" approach. 

And it is this shared vision that I intend to carry forward in this century as President -- because it is a vision that has worked for the American middle class and everybody who's striving to get into the middle class.  (Applause.)

Let me be more specific.  Think about it.  In an age where we know good jobs depend on high skills, now is not the time to scale back our commitment to education.  (Applause.)  Now is the time to move forward and make sure we have the best-educated, best-trained workers in the world.  (Applause.)

My plan for education doesn’t just rely on more money, or more dictates from Washington.  We’re challenging every state and school district to come up with their own innovative plans to raise student achievement.  And they’re doing just that.  I want to give schools more flexibility so that they don’t have to teach to the test, and so they can remove teachers who just aren’t helping our kids learn.  (Applause.)

But, look, if we want our country to be a magnet for middle-class jobs in the 21st century, we also have to invest more in education and training.  I want to recruit an army of new teachers, and pay teachers better -- (applause) -- and train more of them in areas like math and science.  (Applause.) 

I have a plan to give 2 million more Americans the chance to go to community colleges just like this one and learn the skills that businesses are looking for right now.  (Applause.)  I have a plan to make it easier for people to afford a higher education that’s essential in today’s economy. 

And if we truly want to make this country a destination for talent and ingenuity from all over the world, we won’t deport hardworking, responsible young immigrants who have grown up here or received advanced degrees here.  (Applause.)  We’ll let them earn the chance to become American citizens so they can grow our economy and start new businesses right here instead of someplace else.  (Applause.)

Now is not the time to go back to a greater reliance on fossil fuels from foreign countries.  Now is the time to invest more in the clean energy that we can make right here in America.  (Applause.)

My plan for energy doesn’t ignore the vast resources we already have in this country.  We’re producing more oil than we have in over a decade.  But if we truly want to gain control of our energy future, we’ve got to recognize that pumping more oil isn’t enough. 

We have to encourage the unprecedented boom in American natural gas.  We have to provide safe nuclear energy and the technology to help coal burn cleaner than before.  We have to become the global leader in renewable energy -- wind and solar, and the next generation of biofuels, in electric cars and energy-efficient buildings.  (Applause.) 

So my plan would end the government subsidies to oil companies that have rarely been more profitable -- let’s double down on a clean energy industry that has never been more promising.  (Applause.) 

And I want to put in place a new clean energy standard that creates a market for innovation -- an approach that would make clean energy the profitable kind of energy for every business in America.

With growing competition from countries like China and India, now is not the time for America to walk away from research and development.  Now is the time to invest even more  -- (applause) -- so that the great innovations of this century take place in the United States of America.  So that the next Thomas Edison, the next Wright Brothers is happening here, in Ohio, or Michigan, or California.  (Applause.)

My plan to encourage innovation isn’t about throwing money at just any project or new idea.  It’s about supporting the work of our most promising scientists, our most promising researchers and entrepreneurs. 

My plan would make the R&D tax credit permanent.  But the private sector can’t do it alone, especially when it comes to basic research.  It’s not always profitable in the short term.  And in the last century, research that we funded together through our tax dollars helped lay the foundation for the Internet and GPS and Google, and the countless companies and jobs that followed.  The private sector came in and created these incredible companies, but we, together, made the initial investment to make it possible. 

It's given rise to miraculous cures that have reduced suffering and saved lives.  This has always been America’s biggest economic advantage -- our science and our innovation.  Why would we reverse that commitment right now when it’s never been more important?

At a time when we have so much deferred maintenance on our nation’s infrastructure -- schools that are crumbling, roads that are broken, bridges that are buckling -- now is not the time to saddle American businesses with crumbling roads and bridges.  Now is the time to rebuild America.  (Applause.)   

So my plan would take half the money we’re no longer spending on war -- let’s use it to do some nation-building here at home.  Let’s put some folks to work right here at home.  (Applause.) 

My plan would get rid of pet projects and government boondoggles and bridges to nowhere.  (Laughter.)  But if we want businesses to come here and to hire here, we have to provide the highways and the runways and the ports and the broadband access, all of which move goods and products and information across the globe. 

My plan sets up an independent fund to attract private dollars and issue loans for new construction projects based on two criteria:  how badly are they needed, and how much good will they do for the economy.  (Applause.)

And finally, I think it’s time we took on our fiscal problems in an honest, balanced, responsible way.  Everybody agrees that our deficits and debt are an issue that we’ve got to tackle.  My plan to reform the tax code recognizes that government can’t bring back every job that’s been outsourced or every factory that’s closed its doors.  But we sure can stop giving tax breaks to businesses that ship jobs overseas, and start rewarding companies that create jobs right here in the United States of America -- in Ohio, in Cleveland, in Pennsylvania.  (Applause.) 

And if we want to get the deficit under control -- really, not just pretending to during election time -- (laughter) -- not just saying you really care about it when somebody else is in charge, and then you don’t care where you’re in charge.  (Applause.)  If you want to really do something about it, if you really want to get the deficit under control without sacrificing all the investments that I’ve talked about, our tax code has to ask the wealthiest Americans to pay a little bit more -- (applause) -- just like they did when Bill Clinton was President; just like they did when our economy created 23 million new jobs, the biggest budget surplus in history, and a lot of millionaires to boot.  (Applause.)  

And here’s the good news:  There are plenty of patriotic, very successful Americans who’d be willing to make this contribution again.  (Applause.)

Look, we have no choice about whether we pay down our deficit.  But we do have a choice about how we pay down our deficit.  We do have a choice about what we can do without, and where our priorities lie. 

I don’t believe that giving someone like me a $250,000 tax cut is more valuable to our future than hiring transformative teachers, or providing financial aid to the children of a middle-class family.  (Applause.) 

I don’t believe that tax cut is more likely to create jobs than providing loans to new entrepreneurs or tax credits to small business owners who hire veterans.  I don’t believe it’s more likely to spur economic growth than investments in clean energy technology and medical research, or in new roads and bridges and runways.  

I don’t believe that giving someone like Mr. Romney another huge tax cut is worth ending the guarantee of basic security we’ve always provided the elderly, and the sick, and those who are actively looking for work.  (Applause.) 

Those things don’t make our economy weak.  What makes our economy weak is when fewer and fewer people can afford to buy the goods and services our businesses sell.  (Applause.) Businesses don’t have customers if folks are having such a hard time. 

What drags us all down is an economy in which there’s an ever-widening gap between a few folks who are doing extraordinarily well and a growing number of people who, no matter how hard they work, can barely make ends meet.  (Applause.)

So, Governor Romney disagrees with my vision.  His allies in Congress disagree with my vision.  Neither of them will endorse any policy that asks the wealthiest Americans to pay even a nickel more in taxes.  It’s the reason we haven’t reached a grand bargain to bring down our deficit -- not with my plan, not with the Bowles-Simpson plan, not with the so-called Gang of Six plan. 

Despite the fact that taxes are lower than they’ve been in decades, they won’t work with us on any plan that would increase taxes on our wealthiest Americans.  It’s the reason a jobs bill that would put 1 million people back to work has been voted down time and time again.  It’s the biggest source of gridlock in Washington today. 

And the only thing that can break the stalemate is you.  (Applause.)  You see, in our democracy, this remarkable system of government, you, the people, have the final say.  (Applause.)  

This November is your chance to render a verdict on the debate over how to grow the economy, how to create good jobs, how to pay down our deficit.  Your vote will finally determine the path that we take as a nation -- not just tomorrow, but for years to come.  (Applause.) 

When you strip everything else away, that’s really what this election is about.  That’s what is at stake right now.  Everything else is just noise.  Everything else is just a distraction.  (Applause.)  

From now until then, both sides will spend tons of money on TV ads.  The other side will spend over a billion dollars on ads that tell you the economy is bad, that it’s all my fault -- (applause) -- that I can’t fix it because I think government is always the answer, or because I didn’t make a lot of money in the private sector and don't understand it, or because I’m in over my head, or because I think everything and everybody is doing just fine.  (Laughter.)  That’s what the scary voice in the ads will say.  (Laughter.)  That’s what Mr. Romney will say.  That’s what the Republicans in Congress will say. 

Well, that may be their plan to win the election, but it’s not a plan to create jobs.  (Applause.)  It’s not a plan to grow the economy.  It’s not a plan to pay down the debt.  And it’s sure not a plan to revive the middle class and secure our future. 

I think you deserve better than that.  (Applause.) 

At a moment this big -- a moment when so many people are still struggling -- I think you deserve a real debate about the economic plans we’re proposing. 

Governor Romney and the Republicans who run Congress believe that if you simply take away regulations and cut taxes by trillions of dollars, the market will solve all of our problems on its own.  If you agree with that, you should vote for them.  And I promise you they will take us in that direction. 

I believe we need a plan for better education and training -- (applause) -- and for energy independence, and for new research and innovation; for rebuilding our infrastructure; for a tax code that creates jobs in America and pays down our debt in a way that’s balanced.  I have that plan.  They don’t.  (Applause.)  

And if you agree with me -- if you believe this economy grows best when everybody gets a fair shot, and everybody does their fair share, and everybody plays by the same set of rules  -- then I ask you to stand with me for a second term as President.  (Applause.) 

In fact, I’ll take it a step further.  I ask, you vote for anyone else -- whether they’re Democrats, independents, or Republicans -- who share your view about how America should grow.  (Applause.) 

I will work with anyone of any party who believes that we’re in this together -- who believes that we rise or fall as one nation and as one people.  (Applause.)  Because I’m convinced that there are actually a lot of Republicans out there who may not agree with every one of my policies, but who still believe in a balanced, responsible approach to economic growth, and who remember the lessons of our history, and who don’t like the direction their leaders are taking them.  (Applause.)  

And let me leave you with one last thought.  As you consider your choice in November -- (applause) -- don’t let anybody tell you that the challenges we face right now are beyond our ability to solve. 

It’s hard not to get cynical when times are tough.  And I’m reminded every day of just how tough things are for too many Americans.  Every day I hear from folks who are out of work or have lost their home.  Across this country, I meet people who are struggling to pay their bills, or older workers worried about retirement, or young people who are underemployed and burdened with debt.  I hear their voices when I wake up in the morning, and those voices ring in my head when I lay down to sleep.  And in those voices, I hear the echo of my own family’s struggles as I was growing up, and Michelle’s family’s struggles when she was growing up, and the fears and the dashed hopes that our parents and grandparents had to confront. 

But you know what, in those voices I also hear a stubborn hope, and a fierce pride, and a determination to overcome whatever challenges we face.  (Applause.)  And in you, the American people, I’m reminded of all the things that tilt the future in our favor. 

We remain the wealthiest nation on Earth.  We have the best workers and entrepreneurs, the best scientists and researchers, the best colleges and universities.  We are a young country with the greatest diversity of talent and ingenuity drawn from every corner of the globe.  So, yes, reforming our schools, rebuilding our infrastructure will take time.  Yes, paying down our debt will require some tough choices and shared sacrifice.  But it can be done.  And we’ll be stronger for it.  (Applause.)  

And what’s lacking is not the capacity to meet our challenges.  What is lacking is our politics.  And that’s something entirely within your power to solve.  So this November, you can remind the world how a strong economy is built -- not from the top down, but from a growing, thriving middle class.  (Applause.) 

This November, you can remind the world how it is that we’ve traveled this far as a country -- not by telling everybody to fend for themselves, but by coming together as one American family, all of us pitching in, all of us pulling our own weight.  (Applause.)  

This November, you can provide a mandate for the change we need right now.  You can move this nation forward.  And you can remind the world once again why the United States of America is still the greatest nation on Earth.  (Applause.)  

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

END  
2:55 P.M. EDT

Remarks by the President at Kenny's BBQ Smokehouse

Kenny’s BBQ Smokehouse
Washington, D.C.

12:26 P.M. EDT

THE PRESIDENT:  (In progress) -- these guys are also young fathers, and they're doing a great -- he’s got four kids.  He’s got two.  And Michelle and I have been working a lot with military families, trying to support them.  When these guys are deployed sometimes, they're leaving the family behind.  I just want to make sure they get support.

And then the reason the two older gentlemen are here is, as I was mentioning, barbershops are where a lot of men go -- and we want to work with them -- we want to work with barbershops to figure out how we can get better information to fathers about resources that are available to them so they can find job training programs; they can find support groups for fathers.  Because the more information we’re getting out there to folks about how they could take responsibility for their kids, make sure that they're in their child’s lives, help support their mother even if they're not living with the mother, makes a huge difference.

It turns out that with the father being involved, the kids are less likely to do drugs, they're less likely to -- girls are less likely to get pregnant.  And so that message is something that we want to make sure gets out there.  And barbershops are a good place to do it, so that's where everybody hangs out -- right?

Although I was teasing these guys, cutting their hair wouldn’t be that complicated.  (Laughter.)  You just take a -- (Laughter.)  I was just saying you got to give these guys a discount if they come into your barbershop because they'll only take five minutes.

All right, guys, thank you.  We’re going to eat in peace now.  (Laughter.)

END
12:28 P.M. EDT

Remarks by the President at a Campaign Event -- Philadelphia, PA

The Franklin Institute
Philadelphia, Pennsylvania

7:30 P.M. EDT

THE PRESIDENT:  Hello!  (Applause.)  Thank you!  How’s it going Philadelphia?  (Applause.)  Well, it is good to be back in Philadelphia.  (Applause.)  It is good to be among so many good friends, including Benjamin Franklin -- one of my favorite Founders.  (Laughter.)  I have to admit, I had to restrain myself because this is such an amazing facility, and just wandering around I started reading about all kinds of American history and that the Dead Sea Scrolls were here.  (Laughter.)  Staff was saying, Mr. President, you have some other stuff that you have to do. 

There are a couple of acknowledgments that I want to make.  First of all, you’ve got one of the best mayors in the country, Mayor Michael Nutter is here.  (Applause.)  You’ve got a couple of the finest members of Congress in Bob Brady and Chaka Fattah.  (Applause.)  And you’ve got somebody here who’s been one of my dearest friends and one of my favorite people who has always had my back, and he and I share a lot in common -- we both pretend to play basketball, even though we’re way too old.  (Laughter.)  We both married up and we both have extraordinary daughters.  He happens also to be one of the best members of the Senate that we have -- Bob Casey is in the house.  (Applause.) 

So I’m here not just because I need your help -- although I do.  (Laughter.)  I’m here because the country needs your help.  When you think back to 2008, a lot of you were involved in that campaign.  You didn’t get involved because you thought Barack Obama was the odds-on favorite to become President of the United States.  Let’s face it.  (Laughter.)  That was a long shot.  The reason we came together was because we shared a belief in the basic bargain that built this country; the idea that if you’re willing to work hard, if you’re willing to take responsibility, that in this country you can make it.  That you can find a job that pays a living wage, and you can save and buy a home.  You can send your kids to college so they do even better than you did.  You can retire with some dignity and some respect.  The idea that no matter where you come from, no matter what you look like, no matter what your faith, no matter who you love, that in America you can make it if you try.  (Applause.) 

It’s that idea that builds the broadest middle class in the history of the world -- (applause) -- and that was and has been the strength of America, the backbone of America -- is that everybody had a shot.  And we felt back in 2008 that those ideals were being lost, that we had taken a wrong turn.  We had taken a surplus, left behind by President Clinton, and turned it into deficits as far as the eye could see -- not because we invested in our economic future, but because we gave tax cuts to folks who didn’t need them and weren’t even asking for them.  We put two wars on a credit card.  Our economy increasingly was built on financial speculation and a housing bubble.  Manufacturing was leaving our shores. 

And although a few people were doing really, really well, that broad-based middle class that built this country, that was the essence of this country, found themselves -- you found yourselves -- in a situation where wages, incomes were flat-lining, and job growth was the most sluggish it had been in 50, 60 years, and the cost of everything from health care to college education kept on going up and up and up.  And it all culminated in the worst financial crisis since the Great Depression -- three million jobs lost in the six months before I took office, while we were campaigning; 800,000 jobs lost the month that I was sworn into office.

And so we had to make a series of tough decisions and decisive decisions and quick decisions, and we had to do it without much help from the other side.  But the thing that gave me confidence throughout was what I had learned about the American people as I traveled all across the country -- and it is a great privilege just running for President, and obviously a greater privilege being President, because you meet Americans from every walk of life, and they show you their grit and they show you their determination.  And it turns out Americans are tougher than any tough times.  (Applause.) 

And so when some people said we should let Detroit go bankrupt, we decided, no, we’re going to make a bet on the American worker and American industry.  And because of the actions that we took, GM is back on top and we’re seeing the auto industry rehiring and producing better cars than ever.  (Applause.)  We helped to stabilize the financial system so small businesses could get help again and get credit and financing flowing again.  (Applause.)  Businesses got back to basics and we created 4.3 million jobs over the last 27 months; 800,000 this year alone.  (Applause.)

So we’ve made progress.  And the reason we made progress was in part because of our policies, but in part because Americans everywhere figured out how they were going to respond.  And so you had small business owners who decided, I’m not going to lay off these workers because their families are counting on their jobs; that maybe I’ll take out less this year, maybe I won’t even pay myself a salary this year so I can keep my doors open. 

And you had folks who were laid off at the age of 45 or 50 and they decided, you know what, I’m not just going to give up, I’m going to retrain and I’m going to find a job for the future, even if it means I’m sitting in a classroom with kids who are my kid’s age.  All across the country people made tough decisions, but they were determined to move forward because, Americans, we don’t quit.  We don’t quit.  (Applause.)

And so we can say that we are in a stronger position, we are moving in a better direction, than when I took office.  (Applause.)  Now, does that mean that I’m satisfied?  Does that mean we are satisfied?  Absolutely not.  Because we have too many friends and neighbors who are still out of work.  We know too many people whose homes are still underwater.  Too many folks who still have too much trouble paying the bills at the end of the month.  These problems that we’ve got, they weren’t created overnight, and we never thought they’d be solved overnight.  But we understand where we need to go.  We understand we’ve got to keep moving forward.  And we understand that the last thing we need is to go back to the very same policies that got us into this mess in the first place.  (Applause.)

And let me tell you something:  That is all the other side is offering.  That’s all they’re offering.  Governor Romney is a patriotic American, he’s got a lovely family and he should be proud of his personal success.  But his ideas are just retreads of stuff that we have tried and that have failed.  Bill Clinton described it well the other day -- he said, they want to do the same thing, just on steroids.  (Laughter and applause.) 

If you really pay attention -- and one of our jobs during this election is to get folks to pay attention to what the other side is actually offering -- (applause) -- then it boils down to deeper tax cuts for the wealthiest Americans, $5 trillion in tax cuts on top of the Bush tax cuts, an average of a 25 percent tax cut for millionaires all across the country, and the elimination of regulations that would make sure that Wall Street doesn’t engage in the kind of behavior that resulted in this crisis; that would roll back the kinds of progress we’ve made making sure insurance companies can’t drop you when you get sick; that would roll back environmental and worker protection and consumer protections that we have been working on not just during my administration, but for the last 30, 40 years.  And that’s it.  That’s the essence of what they’re offering.

And I guess he thinks either it would result in a different outcome than it did when we just tried this 10 years ago, or he and the Republican Congress are counting on the notion that we forgot how it turned out.  (Laughter.)  We didn’t forget.  We remember.  We’re not going back.  We’re moving forward, and that’s why I’m running for a second term as President of the United States of America.  (Applause.) 

I’m running to make sure that we keep bringing manufacturing and industry back to Philadelphia, back to Pittsburgh, back to Pennsylvania, back to Ohio.  (Applause.)  I want to stop giving tax breaks for companies that are shipping jobs overseas.  I want those tax breaks to go to companies that are investing right here in the United States of America.  (Applause.)

I’m running to make sure that we continue on a path of providing the best education possible for every single one of our children, and make sure that we’ve got the highest rates of college graduates of any country on Earth, because that’s going to be the future.  (Applause.)  We took a student loan program where tens of billions of dollars were being funneled to banks as middlemen in the student loan program; we said, why don’t we just give that money directly to students.  (Applause.)  And as a consequence, we’ve got millions of students who are benefiting from higher Pell grants -- more kids are eligible.  We’re able to make sure that we can cap the amount of money that folks have to pay back each month on their student loans, because we recognized that a higher education cannot be a luxury.  You can’t just count on the fact that your parents are paying for your college education -- a lot of kids need help.  And that’s good for the country.  We’re not going backwards on that, we’re going to keep moving forward.  (Applause.)

I’m running because I want to continue to see America be the best innovator in the world.  When you think about Benjamin Franklin -- I just had a chance to talk to these outstanding students from a science and leadership academy who graduated.  (Applause.)  There are some of them over there, or at least some teachers.  And I told them, what’s America about?  We’ve been about technology and discovery and invention, dating back to this guy.  (Laughter.) 

That's how we became an economic superpower.  So the notion that we would now shortchange our investments in science and basic research, the possible cures for cancer or Alzheimer’s, or the clean energy that can make sure that we’re doing something about climate change and saving money for families -- that's not the answer rolling back those investments.  We’ve got to move forward.  We’re not going to move backwards.  That's why I’m running for President of the United States again.  (Applause.)

I’m running because I want us to continue to build this country.  We are a nation of builders.  The Mayor and I were talking as we were driving from the airport about all the projects, all the infrastructure, all the folks being put back to work making Philadelphia a more attractive place for people to do business.  (Applause.)

And all across the country, I want us to rebuild our roads and our bridges, our airports.  I want us to build broadband lines and high-speed rail and wireless networks so that we have the platform for businesses to succeed all across this country.  (Applause.)  That's why I’m running for President.  We’re not going backwards.  I want to put people back to work rebuilding America.  (Applause.)

I’m running because I believe in America’s energy future.  Since I’ve been President -- oil production, up; natural gas production, up.  Oil imports, down -- under 50 percent.  (Applause.)  So we have focused on traditional sources of energy, but we’ve also doubled fuel-efficiency standards on cars.  (Applause.)  We’ve also doubled the production of clean energy.  I want us to control our own energy future, and we can put people back to work in the process.  And that's why I’m running for President of the United States of America, because I believe we can achieve that.  (Applause.)

And I’m running for President because I want to do something about our debt and our deficits in a balanced and responsible way.  (Applause.)  And that is as sharp a contrast as we’ve got between my approach and what Republicans are peddling right now.  And I think this is worth focusing on.  They think somehow they’ve got a winner on this issue.  Let’s talk about the facts here.

Remember, when the last Democratic President was in office, we had a surplus.  (Applause.)  By the time I got into office, we had a $1 trillion deficit because of tax cuts that weren’t paid for, two wars that weren’t paid for, a prescription drug plan that was not paid for.  We had baked into the cake structural deficits that were made even worse by the financial crisis. 

And so for these folks suddenly to get religion -- (laughter) -- and say, man, deficits and government spending -- when they ran up the tab and are trying to pass off the bill to me -- (laughter and applause) -- listen, let me tell you something.  (Applause.)  Even after you factor in all the work that we did to prevent us from slipping into a depression, the pace of growth of government spending is lower under my administration than it has been in the last 50 years.  (Applause.)

The two Presidents with the least growth in government spending in the modern era happen to be two Democrats named Barack Obama and Bill Clinton.  (Applause.)  It wasn’t the other guys.  And now you’ve got Mr. Romney proposing a $5 trillion tax cut.  And he doesn’t detail how it would be paid for, but if you go through the possibilities, then one of two things:  Either it’s not paid for, in which case, that’s $5 trillion that’s piled on top of the debt we already have, passed onto the next generation.  Or it’s going to come from middle-class families all across this country.  Those are the only two possibilities.

And I’m running for President because we’re not going to let that happen.  (Applause.)  We are not going to allow another millionaire’s tax cut to result in cuts in basic research and science, and cuts in Head Start programs, and less help to states and cities who are putting folks back to work.  We’re not going to have poor and disabled and seniors who rely on Medicaid having to bear the brunt for another millionaire’s tax cut.  We’re not going to voucherize Medicare.  (Applause.) 

We’ve got to do something about the debt and deficits, and the way to do it is by making sure that, yes, we go after waste in government.  Not every government program works.  Not every proposal or program or policy the government offers is ideal.  But what we do have to make sure of is that we do it in a balanced way.  So even as we’re paring back on things that don't work -- and I’ve already signed $2 trillion of cuts into law already and have proposed $2 trillion in additional deficit reduction -- even as we’re making sensible cuts, even as we’re reforming our health care system to make sure that the dollars we pay actually make us healthier, what we’re not going to do is to make the most vulnerable people in our society, as well as the middle class, shoulder the burden.  We’re going to ask those like myself who are best equipped to help to do their fair share because that's part of the American bargain.  Everybody gets a fair shot.  Everybody does their fair share.  Everybody plays by the same set of rules.  (Applause.)

That's what we mean when we say we’re going forward.  We’re not going to re-litigate Wall Street reform.  That was the right thing to do.  We’re not going to re-litigate health care reform.  It was the right thing to do; 2.5 million young people who can stay on their parents’ plan and now have health insurance who didn't otherwise have -- that was the right thing to do.  (Applause.)  Millions of seniors getting discounts on their prescription drugs -- that was the right thing to do.  Health care prevention and women being able to control their own health care decisions -- that was the right thing to do.  We’re not going backwards, we’re going forward.  (Applause.)

In 2008, I said I’d end the war in Iraq.  I ended it.  (Applause.)  In 2008, I said we’d go after al Qaeda.  And bin Laden is no longer a threat to this country and al Qaeda is on its heels.  (Applause.)  We are transitioning in Afghanistan, and by 2014, we have set a timeline that war will be over.  And we are going to use the savings that we get from ending these wars -- half of it will go to deficit reduction; the other half, we’ll put to work rebuilding America, because this is the nation we need to build.  (Applause.)  That’s what I mean when I say we’re moving forward.  (Applause.)

We’re not going to go back to the days when you couldn’t serve in the military just because of who you love.  (Applause.)   “Don’t ask, don’t tell” was bad for America’s security, and it was wrong, and we believe in the fairness and dignity and equality of all people.  We’re moving forward.  We’re not going backwards.  (Applause.)

We want to move forward and make sure that elections aren’t just about $10 million checks being written by folks who have vested interests in maintaining the status quo.  (Applause.)  We want to move forward to make sure that we’re creating an immigration system that reflects our tradition as a nation of laws and a nation of immigrants.  (Applause.)  Look, we are at our best when every voice is heard, when everybody has a stake.  And that’s not just a Democratic tradition.  That is an American tradition.  That’s a tradition started by folks like Benjamin Franklin.  That’s the essence of our creed.

If you look at our history, when we’ve made progress we’ve done it together.  That’s how this country got built.  That’s how my grandfather’s generation was educated on a GI Bill.  That’s how we built the Hoover Dam.  That’s how we sent a man to the moon.  We believe in individual initiative and the free market.  We believe in entrepreneurs and risk takers being rewarded.  We love folks getting rich -- (laughter) -- that’s part of America’s success. 

But we also understand there are some things we do together as a nation.  (Applause.)  That’s the true lesson of our history.  And that’s the choice that we face in this election. 

Now, let me tell you, this election is going to be close -- because folks have gone through a tough time.  And no matter how many times you tell them, well, we avoided a whole bunch of really bad stuff -- if you don’t have a job, if your house is still underwater, if you haven’t seen your income go up in a decade, you’re still frustrated.  You’re still concerned about your kid’s future.  And rightly so.

And the other side, they don’t have any new ideas.  I am telling you, I want you all to pay attention over the next five months and see if they’re offering a single thing that they did not try when they were in charge, because you won’t see it.  It will be the same stuff.  The same okey-doke.  (Laughter.)  But you know what they do have is they’ll have $500 million worth of negative ads.  And they will tap into and feed into cynicism and a sense of frustration.  And they’ll try to direct blame.  That’s a campaign they know how to run.

The thing is, though, what you guys taught me in 2008 was when Americans, when citizens decide to come together, when they say, it’s time for change; when they start talking to their neighbors and their friends and they’re really starting to pay attention in terms of who’s saying what, and asking themselves, how do we move this country forward -- when you decide change needs to happen, guess what?  It happens.  (Applause.)

And so, I have never been more convinced about the strength and the dignity of the American people.  I’ve never been more convinced about our prospects for the future, and the reason is because of you. 

As I travel all across this country, the American people constantly give me hope.  They constantly give me cause for optimism.  I still believe in you.  And I told you back in 2008 that I wouldn’t be -- I wasn’t a perfect man.  Michelle would tell you that.  (Laughter.)  And I wouldn’t -- I’d never be a perfect President, but I did say I’d always tell you what I thought, and I’d always tell you where I stood.  And I promised you I would wake up every single day thinking about how I can work as hard as I know how to make your lives a little bit better and to make the lives of future generations a little bit better.  And you know what?  I’ve kept that promise.  I have kept that promise.  (Applause.)

And so I hope you still believe in me.  (Applause.)  And if you’re ready to go out there and work, if you’re ready to join me and make phone calls and knock on doors, talk to your friends and talk to your neighbors, if you’re willing to work even hard than you did in 2008, we’ll finish what we started.  (Applause.)  We will move this country forward, and we’ll remind the world just why it is the United States of America is the greatest nation on Earth.  (Applause.)

Thank you, everybody.  God bless you.  God bless America.  (Applause.)

END
8:00 P.M. EDT