SOTUA Rant

The following State of the Union Address’s text is copied from Fox News.

The inappropriate comments that I plan to apply will be formatted in Courier italic bluuuue…

Mr. Speaker, Mr. Vice President, members of Congress, distinguished guests, and fellow Americans: Fellow Americans that can be broken down into three groups, those that we hope to openly take more money from by which I as President benefit, those that pay taxes and are further taxed by the government’s inflationary programs, and those that will receive unearned benefits in the name of being “fair”.

Last month, I went to Andrews Air Force Base and welcomed home some of our last troops to serve in Iraq. Together, we offered a final, proud salute to the colors under which more than a million of our fellow citizens fought - and several thousand gave their lives. Why is it important that he tell us what he did? The important point is that the last troops came home. Could it be that he President is campaigning. No doubt virtually all of those men were happy to escape the unsafe country but most also are aware that the withdrawal was premature and will likely play into the aggressive intent of Iran.

We gather tonight knowing that this generation of heroes has made the United States safer and more respected around the world. For the first time in nine years, there are no Americans fighting in Iraq. For the first time in two decades, Osama bin Laden is not a threat to this country. Most of al Qaeda's top lieutenants have been defeated. The Taliban's momentum has been broken, and some troops in Afghanistan have begun to come home. I have no problem with this statement other than an irrational fear that we are being premature. Again, the situation seems unstable which we may not be able to ever correct, but the presence in Afghanistan certainly serves as a buffer against a duplicitous Pakistan and aggressive Iran.

These achievements are a testament to the courage, selflessness, and teamwork of America's Armed Forces. At a time when too many of our institutions have let us down, they exceed all expectations. They're not consumed with personal ambition. They don't obsess over their differences. They focus on the mission at hand. They work together. Yep, the job dictates that, why can’t Washington treat their responsibility with the same effort, unifying goals, evaluating effectiveness and planning.

Imagine what we could accomplish if we followed their example. Think about the America within our reach: A country that leads the world in educating its people. An America that attracts a new generation of high-tech manufacturing and high-paying jobs. A future where we're in control of our own energy, and our security and prosperity aren't so tied to unstable parts of the world. An economy built to last, where hard work pays off, and responsibility is rewarded. I smell a GREEN energy lead in.

We can do this. I know we can, because we've done it before. At the end of World War II, when another generation of heroes returned home from combat, they built the strongest economy and middle class the world has ever known. My grandfather, a veteran of Patton's Army, got the chance to go to college on the GI Bill. My grandmother, who worked on a bomber assembly line, was part of a workforce that turned out the best products on Earth. Best products on earth may be a bit of an overstatement, following WWII the United States was in the best capital condition for productive expansion, many other countries simply didn’t have the means to produce anything. There is a good argument that England, France and Germany were producing better goods than the United States before the war, they all had the shit beat out of them. Sometimes becoming dominant isn’t because you are best; it is because you are best situated.

The two of them shared the optimism of a Nation that had triumphed over a depression and fascism. They understood they were part of something larger; that they were contributing to a story of success that every American had a chance to share - the basic American promise that if you worked hard, you could do well enough to raise a family, own a home, send your kids to college, and put a little away for retirement. Another inaccuracy, most Americans, before WWII did NOT own their own home, after WWII in a financially bourgeoning United States home ownership became more and more possible. An oh, by the way, home ownership did not increase because of the government, it increased because of the growth of manufacturing and the middle class type affluence.

The defining issue of our time is how to keep that promise alive. Since when was this crap ever promised? As I grew up I was taught to work hard in school, go to college and get a good job so I could save money and buy what I desired. No challenge is more urgent. And no generation less deserving. No debate is more important. What debate would that be, the argument of whether I should go out and earn what I want or the contra position to demand I be given what I want? We can either settle for a country where a shrinking number of people do really well, while a growing number of Americans barely get by. That same growing number of persons is dominated by ADD afflicted, government educated brats. Or we can restore an economy where everyone gets a fair shot, everyone does their fair share, and everyone plays by the same set of rules. What's at stake are not Democratic values or Republican values, but American values. We have to reclaim them. Only a government “claims”, an individual must earn or take.

Let's remember how we got here. Long before the recession, jobs and manufacturing began leaving our shores. No doubt, call it economic evolution read your Hayek. Technology made businesses more efficient, but also made some jobs obsolete. Folks at the top saw their incomes rise like never before, but most hardworking Americans struggled with costs that were growing, paychecks that weren't, and personal debt that kept piling up. Hey dude, government is the biggest cause of inflation, it one of the ways government pays for long term debt, which by the way is the equivalent to a tax on savings.

In 2008, the house of cards collapsed. We learned that mortgages had been sold to people who couldn't afford or understand them. Banks had made huge bets and bonuses with other people's money. Regulators had looked the other way, or didn't have the authority to stop the bad behavior. You should also mention that Congress, mostly run by Democrats purposefully built programs to encourage cheap credit. Left to their own pattern, said loans would not have been profitably or appealing and thus would not have been issued.

It was wrong. It was irresponsible. And it plunged our economy into a crisis that put millions out of work, saddled us with more debt, and left innocent, hard-working Americans holding the bag. In the six months before I took office, we lost nearly four million jobs. And we lost another four million before our policies were in full effect. Facetiously, of course the government should be thanked for halting the progression of a recession it helped create. Recessions started, evolved and ended long before governments started fucking around with them. There is ample evidence that after the Depression of the thirties in our current situation, Keynesian government spending actual served a friction against recovery times.

Those are the facts. But so are these. In the last 22 months, businesses have created more than three million jobs. Last year, they created the most jobs since 2005. American manufacturers are hiring again, creating jobs for the first time since the late 1990s. Together, we've agreed to cut the deficit by more than $2 trillion. And we've put in place new rules to hold Wall Street accountable, so a crisis like that never happens again. This is when I started cussing at the television last night, I scared the dog and my wife went upstairs.

The state of our Union is getting stronger. And we've come too far to turn back now. As long as I'm President, I will work with anyone in this chamber to build on this momentum. But I intend to fight obstruction with action, and I will oppose any effort to return to the very same policies that brought on this economic crisis in the first place. Dude, you should look harder for the causes, you might find that they are what you represent.

No, we will not go back to an economy weakened by outsourcing, bad debt, and phony financial profits. Tonight, I want to speak about how we move forward, and lay out a blueprint for an economy that's built to last - an economy built on American manufacturing, American energy, skills for American workers, and a renewal of American values. American values are becoming “to each according to his need”.

This blueprint begins with American manufacturing. Government is not good at this, leave it alone and it will reach its own profitable equilibrium, remove restrictions, in a permanent way, and watch expansion occur.

On the day I took office, our auto industry was on the verge of collapse. Some even said we should let it die. With a million jobs at stake, I refused to let that happen. In exchange for help, we demanded responsibility. We got workers and automakers to settle their differences. We got the industry to retool and restructure. Today, General Motors is back on top as the world's number one automaker. Chrysler has grown faster in the U.S. than any major car company. Ford is investing billions in U.S. plants and factories. And together, the entire industry added nearly 160,000 jobs. Have said it before, as a former GM stock holder, I will never buy another new GM vehicle, those union bastards stole from me and I do not care if they fail.

We bet on American workers. We bet on American ingenuity. And tonight, the American auto industry is back. Not productively improved, simply filling a pent up demand caused by crappy government debt market manipulation.

What's happening in Detroit can happen in other industries. It can happen in Cleveland and Pittsburgh and Raleigh. We can't bring back every job that's left our shores. But right now, it's getting more expensive to do business in places like China. Meanwhile, America is more productive. A few weeks ago, the CEO of Master Lock told me that it now makes business sense for him to bring jobs back home. Today, for the first time in fifteen years, Master Lock's unionized plant in Milwaukee is running at full capacity. Unions again.

So we have a huge opportunity, at this moment, to bring manufacturing back. But we have to seize it. Tonight, my message to business leaders is simple: Ask yourselves what you can do to bring jobs back to your country, and your country will do everything we can to help you succeed. Give me a call, I have a lot of ideas; have worked in manufacturing for almost 30 years.

We should start with our tax code. Right now, companies get tax breaks for moving jobs and profits overseas. Meanwhile, companies that choose to stay in America get hit with one of the highest tax rates in the world. It makes no sense, and everyone knows it. I do not so much disagree with this. Difficulty is in the how. If tax plans are not permanent, companies are reluctant to commit capital. The Federal government’s tendency toward adjustment in tax codes will not permanently fix the problem. The structure of the entire code promotes investment in financial markets rather than manufacturing capital expansion. It’s just too damned hard, and in the end you cannot escape the income expectancies of Americans in comparison to international competition.

So let's change it. Yeah, let’s. First, if you're a business that wants to outsource jobs, you shouldn't get a tax deduction for doing it. Now you have to be careful here, about what constitutes outsourcing. That money should be used to cover moving expenses for companies like Master Lock that decide to bring “union” jobs home.

Second, no American company should be able to avoid paying its fair share of taxes by moving jobs and profits overseas. From now on, every multinational company should have to pay a basic minimum tax. Regardless of whether or not it is profitable? And every penny should go towards lowering taxes for companies that choose to stay here and hire here. Right, when can you trust a government to put every penny towards anything?

Third, if you're an American manufacturer, you should get a bigger tax cut. If you're a high-tech manufacturer, we should double the tax deduction you get for making products here. And if you want to relocate in a community that was hit hard when a factory left town, you should get help financing a new plant, equipment, or training for new workers.

My message is simple. It's time to stop rewarding businesses that ship jobs overseas, and start rewarding companies that create jobs right here in America. Send me these tax reforms, and I'll sign them right away. OK, but you are opening a door for the lobbyists to abuse.

We're also making it easier for American businesses to sell products all over the world. Two years ago, I set a goal of doubling U.S. exports over five years. With the bipartisan trade agreements I signed into law, we are on track to meet that goal - ahead of schedule. Soon, there will be millions of new customers for American goods in Panama, Colombia, and South Korea. Soon, there will be new cars on the streets of Seoul imported from Detroit, and Toledo, and Chicago. Do not know it as fact, but it is likely that this is currency rate thing. In the end, how did that translate into jobs, certainly they did not double. He used “I” twice.

I will go anywhere in the world to open new markets for American products. And I will not stand by when our competitors don't play by the rules. We've brought trade cases against China at nearly twice the rate as the last administration - and it's made a difference. Over a thousand Americans are working today because we stopped a surge in Chinese tires. But we need to do more. It's not right when another country lets our movies, music, and software be pirated. It's not fair when foreign manufacturers have a leg up on ours only because they're heavily subsidized. He used “I” twice. Notice how POTUS uses the word “I” when describing the stand against competitor countries.

Tonight, I'm announcing the creation of a Trade Enforcement Unit that will be charged with investigating unfair trade practices in countries like China. Will that be staffed with recess appointments, or should I say weekend appointments? There will be more inspections to prevent counterfeit or unsafe goods from crossing our borders which you will not spend the money to enforce, much like with illegal immigration. And this Congress should make sure that no foreign company has an advantage over American manufacturing when it comes to accessing finance or new markets like Russia. Our workers are the most productive on Earth, and if the playing field is level, I promise you - America will always win. Consider that, if the playing field is really level, we cannot always win. Business is not like people, you can’t force equality when they are constantly looking for advantage.

I also hear from many business leaders who want to hire in the United States but can't find workers with the right skills. Growing industries in science and technology have twice as many openings as we have workers who can do the job. Think about that - openings at a time when millions of Americans are looking for work.

That's inexcusable. And we know how to fix it. NO YOU DON’T.

Jackie Bray is a single mom from North Carolina who was laid off from her job as a mechanic. Then Siemens foreign company, back to the investment thing, where do you think the profit from capital is going in that arrangement opened a gas turbine factory in Charlotte, and formed a partnership with Central Piedmont Community College e.g. people who can’t get into a real college. The company helped the college design courses in laser and robotics training. It paid Jackie's tuition, then hired her to help operate their plant. Now Jackie watches a CNC operating screen for $12 an hour, big whoop.

I want every American looking for work to have the same opportunity as Jackie did. Join me in a national commitment to train two million Americans with skills that will lead directly to a job. My Administration has already lined up more companies that want to help. Model partnerships between businesses like Siemens and community colleges in places like Charlotte, Orlando, and Louisville are up and running. Now you need to give more community colleges the resources they need to become community career centers - places that teach people skills that local businesses are looking for right now, from data management to high-tech manufacturing. Should “Administration” be capitalized?

And I want to cut through the maze of confusing training programs, so that from now on, people like Jackie have one program, one website, and one place to go for all the information and help they need. Not possible big boy, government is where you are thinking that one place is, but government is not nimble enough to stay on the leading edge of anything. It's time to turn our unemployment system into a reemployment system that puts people to work.

These reforms will help people get jobs that are open today. But to prepare for the jobs of tomorrow, our commitment to skills and education has to start earlier.

For less than one percent of what our Nation spends on education each year, we've convinced nearly every State in the country to raise their standards for teaching and learning - the first time that's happened in a generation.

But challenges remain. And we know how to solve them.

At a time when other countries are doubling down on education, tight budgets have forced States to lay off thousands of teachers. We know a good teacher can increase the lifetime income of a classroom by over $250,000. A great teacher can offer an escape from poverty to the child who dreams beyond his circumstance. A unionized teach might, instead, just collect his check and let the ADD afflicted students wilt on the vine. Not all teachers are good, same as not all are bad; a big problem is that Democrats and NEA resist educational competition, competition fosters improvement. Every person in this chamber can point to a teacher who changed the trajectory of their lives. Most teachers work tirelessly, with modest pay, sometimes digging into their own pocket for school supplies - just to make a difference.

Teachers matter. So instead of bashing them, or defending the status quo, let's offer schools a deal. Give them the resources to keep good teachers on the job, and reward the best ones. In return, grant schools flexibility the Federal government is incapable of simplifying anything: To teach with creativity and passion; to stop teaching to the test; and to replace teachers who just aren't helping kids learn. Isn’t part of the NEA platform to protect all members and resist evaluation of same?

We also know that when students aren't allowed to walk away from their education, more of them walk the stage to get their diploma. So tonight, I call on every State to require that all students stay in high school until they graduate or turn eighteen.

When kids do graduate, the most daunting challenge can be the cost of college. At a time when Americans owe more in tuition debt than credit card debt, this Congress needs to stop the interest rates on student loans from doubling in July. I, Barack Obama, the great magic President, foresee the day when the Federal government will be in control of all education and run it with the efficiency that we have exhibited in the health care field. Extend the tuition tax credit sure, my son is in his last semester we started that saves middle-class families thousands of dollars. And give more young people the chance to earn their way through college by doubling the number of work-study jobs in the next five years.

Of course, it's not enough for us to increase student aid. We can't just keep subsidizing skyrocketing tuition; we'll run out of money. States also need to do their part, by making higher education a higher priority right after all of the health care shit in their budgets. And colleges and universities have to do their part by working to keep costs down. Recently, I spoke with a group of college presidents who've done just that. Some schools re-design courses to help students finish more quickly. Some use better technology. The point is, it's possible. So let me put colleges and universities on notice: If you can't stop tuition from going up, the funding you get from taxpayers will go down. Higher education can't be a luxury - it's an economic imperative that every family in America should be able to afford.

Let's also remember that hundreds of thousands of talented, hardworking students in this country face another challenge: The fact that they aren't yet hint hint American citizens. Many were brought here as small children, are American through and through except for that avoiding police thing, yet they live every day with the threat of deportation aka legal consequence. Others came more recently, to study business and science and engineering, but as soon as they get their degree, we send them home to invent new products and create new jobs somewhere else.

That doesn't make sense. Doesn’t make sense in the same way as rewarding lawbreakers with citizenship.

I believe as strongly as ever that we should take on illegal immigration. That's why my Administration has put more boots on the border the border that’s on the far side of the state than ever before. That's why there are fewer illegal crossings than when I took office NOOO, they aren’t coming because there are fewer jobs and border states have passed strict employer compliance laws. It is nothing that you did.

The opponents of action are out of excuses they do not need any more reasons, you provide all the tactical attack points. We should be working on comprehensive immigration aka amnesty reform right now. But if election-year politics keeps Congress from acting on a comprehensive plan, let's at least agree to stop expelling responsible aka illegal immigrants young people who want to staff our labs, start new businesses, and defend this country. Send me a law that gives them the chance to earn their citizenship. I will sign it right away.

You see, an economy built to last is one where we encourage the talent and ingenuity of every person in this country. That means women should earn equal pay for equal work. It means we should support everyone who's willing to work; and every risk-taker and entrepreneur who aspires to become the next Steve Jobs. Mr. President, as much as I think that Steve Jobs was, like you, an insufferable arrogant prick, you cannot hold a candle to his creativity.

After all, innovation is what America has always been about. Most new jobs are created in start-ups and small businesses. So let's pass an agenda that helps them succeed. Tear down regulations that prevent aspiring entrepreneurs from getting the financing to grow. Expand tax relief to small businesses that are raising wages and creating good jobs. Both parties agree on these ideas. So put them in a bill, and get it on my desk this year. Let’s put together a bill that will have no greater effect than a spitball in a wind tunnel. At least we will look like we cared.

Innovation also demands basic research. Today, the discoveries taking place in our federally-financed labs and universities could lead to new treatments that kill cancer cells but leave healthy ones untouched. New lightweight vests for cops and soldiers that can stop any bullet. Don't gut these investments in our budget. Don't let other countries win the race for the future. Support the same kind of research and innovation that led to the computer chip and the Internet; to new American jobs and new American industries.

Nowhere is the promise of innovation greater than in American-made energy. Over the last three years, we've opened millions of new acres for oil and gas exploration, and tonight, I'm directing my Administration to open more than 75 percent of our potential offshore oil and gas resources I smell a shell game. Right now, American oil production is the highest that it's been in eight years. That's right - eight years. Not only that - last year, we relied less on foreign oil than in any of the past sixteen years. But won’t allow private investment in a pipeline to insure dependence upon a friendly ally.

But with only 2 percent of the world's oil reserves, oil isn't enough you’re not counting shale oil. This country needs an all-out, all-of-the-above strategy that develops every available source of American energy - a strategy that's cleaner aka Solyndra solar panels, cheaper aka freaking wind mills, and full of new jobs.

We have a supply of natural gas that can last America nearly one hundred years, and my Administration will take every possible action to safely develop this energy. Experts believe this will support more than 600,000 jobs by the end of the decade. And I'm requiring all companies that drill for gas on public lands to disclose the chemicals they use. America will develop this resource without putting the health and safety of our citizens at risk.

The development of natural gas will create jobs and power trucks and factories that are cleaner and cheaper, proving that we don't have to choose between our environment and our economy. And by the way, it was public research dollars more chest thumping for the all powerful government, over the course of thirty years, that helped develop the technologies to extract all this natural gas out of shale rock - reminding us that Government support is critical in helping businesses get new energy ideas off the ground.

What's true for natural gas is true for clean energy. In three years, our partnership with the private sector has already positioned America to be the world's leading manufacturer of high-tech batteries. Because of federal investments, renewable energy use has nearly doubled. And thousands of Americans have jobs because of it.

When Bryan Ritterby was laid off from his job making furniture, he said he worried that at 55, no one would give him a second chance. But he found work at Energetx, a wind turbine manufacturer in Michigan. Before the recession, the factory only made luxury yachts. Today, it's hiring workers like Bryan, who said, "I'm proud to be working in the industry of the future."

Our experience with shale gas shows us that the payoffs on these public investments don't always come right away. Some technologies don't pan out; some companies fail. But I will not walk away from the promise of clean energy. I will not walk away from workers like Bryan. I will not cede the wind or solar or battery industry to China or Germany because we refuse to make the same commitment here. We have subsidized oil companies for a century. That's long enough. It's time to end the taxpayer giveaways to an industry that's rarely been more profitable, and double-down on a clean energy industry that's never been more promising. Pass clean energy tax credits and create these jobs.

We can also spur energy innovation with new incentives. The differences in this chamber may be too deep right now to pass a comprehensive plan to fight climate change. But there's no reason why Congress shouldn't at least set a clean energy standard that creates a market for innovation. So far, you haven't acted. Well tonight, I will. I'm directing my Administration to allow the development of clean energy on enough public land to power three million homes. And I'm proud to announce that the Department of Defense, the world's largest consumer of energy, will make one of the largest commitments to clean energy in history - with the Navy purchasing enough capacity to power a quarter of a million homes a year. What the hell does that mean?

Of course, the easiest way to save money is to waste less energy. So here's another proposal: Help manufacturers eliminate energy waste in their factories and give businesses incentives to upgrade their buildings. Their energy bills will be $100 billion lower over the next decade, and America will have less pollution, more manufacturing, and more jobs for construction workers who need them. Send me a bill that creates these jobs. Businesses will not add positions because energy costs go down, though I must admit that will make the tipping point for cost-reward go down. Companies hire based on what they need to produce what they think they can sell, if money can be saved without increasing staff, that is considered profit.

Building this new energy future should be just one part of a broader agenda to repair America's infrastructure. So much of America needs to be rebuilt. We've got crumbling roads and bridges. A power grid that wastes too much energy that is the concern of the power companies not the Federal government. An incomplete high-speed broadband network that prevents a small business owner in rural America from selling her products all over the world it is not profitable for private companies to offer services to all rural communities, I have a relative in the same business, government will not be able to do that more efficiently so we are looking a more public capital expense.

During the Great Depression, America built the Hoover Dam and the Golden Gate Bridge. After World War II, we connected our States with a system of highways. Democratic and Republican administrations invested in great projects that benefited everybody, from the workers who built them to the businesses that still use them today. If projects are worthwhile (cost/reword) then they ought to be done, the thing is, during the Depression the United States was not as developed as it is today, there are not so many physical opportunities, unless you are going to start building stuff out in the ocean, or on the moon.

In the next few weeks, I will sign an Executive Order clearing away the red tape that slows down too many construction projects. But you need to fund these projects. Take the money we're no longer spending at war unbudgeted, use half of it to pay down our debt, and use the rest unbudgeted, borrowed money, more debt to do some nation-building right here at home.

There's never been a better time to build, especially since the construction industry was one of the hardest-hit when the housing bubble burst. Of course, construction workers weren't the only ones hurt. So were millions of innocent Americans who've seen their home values decline. And while Government can't fix the problem on its own, responsible homeowners shouldn't have to sit and wait for the housing market to hit bottom to get some relief but wait they must and will.

That's why I'm sending this Congress a plan that gives every responsible homeowner the chance to save about $3,000 a year on their mortgage, by refinancing at historically low interest rates. No more red tape. No more runaround aka profit motive from the banks. A small fee on the largest financial institutions will ensure that it won't add to the deficit, and will give banks that were rescued by taxpayers a chance to repay a deficit of trust.

Let's never forget: Millions of Americans who work hard and play by the rules every day deserve a Government and a financial system that do the same. It's time to apply the same rules from top to bottom: No bailouts, no handouts, and no copouts how about adding no infinite debt. An America built to last insists on responsibility from everybody.

We've all paid the price for lenders who sold mortgages to people who couldn't afford them, and buyers who knew they couldn't afford them. That's why we need smart regulations to prevent irresponsible behavior. Rules to prevent financial fraud, or toxic dumping, or faulty medical devices, don't destroy the free market. They make the free market work better. Do not totally agree or disagree. In the financial world rules tend to be reactive, and push borderline behavior to other paths.

There is no question that some regulations are outdated, unnecessary, or too costly. In fact, I've approved fewer regulations in the first three years of my presidency than my Republican predecessor did in his I am guessing that this number does not include the rules that some of his departments have created. I've ordered every federal agency to eliminate rules that don't make sense. We've already announced over 500 reforms, and just a fraction of them will save business and citizens more than $10 billion over the next five years. We got rid of one rule from 40 years ago that could have forced some dairy farmers to spend $10,000 a year proving that they could contain a spill - because milk was somehow classified as an oil. With a rule like that, I guess it was worth crying over spilled milk.

I'm confident a farmer can contain a milk spill without a federal agency looking over his shoulder. But I will not back down from making sure an oil company can contain the kind of oil spill we saw in the Gulf two years ago. I will not back down from protecting our kids from mercury pollution, or making sure that our food is safe and our water is clean. I will not go back to the days when health insurance companies had unchecked power to cancel your policy, deny you coverage, or charge women differently from men.

And I will not go back to the days when Wall Street was allowed to play by its own set of rules when was that?. The new rules we passed restore what should be any financial system's core purpose: Getting funding to entrepreneurs with the best ideas, and getting loans to responsible families who want to buy a home, start a business, or send a kid to college. No, the purpose of financial systems is to transfer money and make investment in the quest for profit. If giving loans serves that goal so be it. Don’t forget the business making the loan is taking a risk. Business DO NOT exist to serve others, if they could make money without serving any interest except their own, they would. Thing is, usually to earn, you have to have a desirable service to trade, therein is the motivation. Motivation to serve does not come at the end of a stick.

So if you're a big bank or financial institution, you are no longer allowed to make risky bets with your customers' deposits. You're required to write out a "living will" that details exactly how you'll pay the bills if you fail - because the rest of us aren't bailing you out ever again. And if you're a mortgage lender or a payday lender or a credit card company, the days of signing people up for products they can't afford with confusing forms and deceptive practices are over. Today, American consumers finally have a watchdog in Richard Cordray with one job: To look out for them.

We will also establish a Financial Crimes Unit of highly trained investigators to crack down on large-scale fraud and protect people's investments. Some financial firms violate major anti-fraud laws because there's no real penalty for being a repeat offender. That's bad for consumers, and it's bad for the vast majority of bankers and financial service professionals who do the right thing. So pass legislation that makes the penalties for fraud count. Chasing a moving target.

And tonight, I am asking my Attorney General to create a special unit of federal prosecutors and leading state attorneys general to expand our investigations into the abusive lending and packaging of risky mortgages that led to the housing crisis. This new unit will hold accountable those who will that include the bastards in Congress that insisted that the system was viable, rebuking attempts to correct? broke the law, speed assistance to homeowners, and help turn the page on an era of recklessness that hurt so many Americans.

A return to the American values of fair play and shared responsibility will help us protect our people and our economy. We neeeeed our government to protect us. Who will protect us from our government? But it should also guide us as we look to pay down our debt and invest in our future.

Right now, our most immediate priority is stopping a tax hike on 160 million working Americans while the recovery is still fragile. People cannot afford losing $40 out of each paycheck this year. There are plenty of ways to get this done. So let's agree right here, right now: No side issues. No drama. Pass the payroll tax cut without delay. Didn’t they already do that? I must be out of touch.

When it comes to the deficit, we've already agreed aka LIED to more than $2 trillion in cuts and savings. But we need to do more, and that means making choices. Right now, we're poised to spend nearly $1 trillion more on what was supposed to be a temporary tax break for the wealthiest 2 percent of Americans e.g. class warfare. Right now, because of loopholes and shelters in the tax code, a quarter of all millionaires pay lower tax rates than millions of middle-class households. Right now, Warren Buffett pays a lower tax rate than his secretary income primarily from investment, investment built from money that income tax was already paid on, let us increase the taxation on income investment and watch the investment move offshore like the manufacturing jobs.

Do we want to keep these tax cuts for the wealthiest Americans e.g. class warfare? Or do we want to keep our investments in everything else - like education and medical research; a strong military how much did you just cut? and care for our veterans? Because if we're serious about paying down our debt, we can't do both.

The American people know what the right choice is. So do I. As I told the Speaker this summer, I'm prepared to make more reforms that rein in the long term costs of Medicare and Medicaid, and strengthen Social Security, so long as those programs remain a guarantee of security for seniors. aka I’ll cut anything as long everything we spend money on stays the same.

But in return, we need to change our tax code so that people like me, and an awful lot of Members of Congress, pay our fair share of taxes. Tax reform should follow the Buffett rule: If you make more than $1 million a year, you should not pay less than 30 percent in taxes. And my Republican friend Tom Coburn is right: Washington should stop subsidizing millionaires. In fact, if you're earning a million dollars a year, you shouldn't get special tax subsidies or deductions. On the other hand, if you make under $250,000 a year, like 98 percent of American families, your taxes shouldn't go up. You're the ones struggling with rising costs and stagnant wages. You're the ones who need relief.

Now, you can call this class warfare all you want. But asking a billionaire to pay at least as much let’s see how much the secretary paid in dollars compared to what Warren paid in dollars, want to bet which is highest, this is deceptive bs as his secretary in taxes? Most Americans would call that common sense.

We don't begrudge financial success in this country. We admire it look at the Occupy crowds, they do begrudge it . When Americans talk about folks like me paying my fair share of taxes, it's not because they envy the rich. It's because they understand that when I get tax breaks I don't need and the country can't afford, it either adds to the deficit, or somebody else has to make up the difference - like a senior on a fixed income; or a student trying to get through school; or a family trying to make ends meet. That's not right. Americans know it's not right. They know that this generation's success is only possible because past generations felt a responsibility to each other, and to their country's future, and they know our way of life will only endure if we feel that same sense of shared responsibility. My sense of responsibility is first to my family, second to whom I choose. If I am drafted I will go, if I am taxed I will pay, but I owe the government NOTHING in terms of a social obligation. That's how we'll reduce our deficit. That's an America built to last.

I recognize that people watching tonight have differing views about taxes and debt; energy and health care. But no matter what party they belong to, I bet most Americans are thinking the same thing right now: Nothing will get done this year, or next year, or maybe even the year after that, because Washington is broken.

Can you blame them for feeling a little cynical?

The greatest blow to confidence in our economy last year didn't come from events beyond our control. It came from a debate in Washington over whether the United States would pay its bills or not. The bigger complaint was with a government that could not control how much money it spends. Citizens, tax paying citizens, understand the meaning of indebtedness much better than politicians that obligated to balance what is spent with what it taxed. When politicians continually create programs, they continually increase cost. Who benefited from that fiasco? SEIU for one, UAW for another, TSA for a third, and Solyndra for a fourth.

I've talked tonight about the deficit of trust between Main Street and Wall Street. But the divide between this city and the rest of the country is at least as bad - and it seems to get worse every year. Because the work of politicians never ends.

Some of this has to do with the corrosive influence of money in politics. So together, let's take some steps to fix that. Send me a bill that bans insider trading by Members of Congress, and I will sign it tomorrow. But be sure there are some loopholes in there. Let's limit any elected official from owning stocks in industries they impact. Let's make sure people who bundle campaign contributions for Congress can't lobby Congress, and vice versa - an idea that has bipartisan support, at least outside of Washington.

Some of what's broken has to do with the way Congress does its business these days. A simple majority is no longer enough to get anything - even routine business - passed through the Senate. The Democrat controlled Senate has been effectively blocking a great deal of work the House has offered up. Neither party has been blameless in these tactics. Now both parties should put an end to it. For starters, I ask the Senate to pass a rule that all judicial and public service nominations receive a simple up or down vote within 90 days. It will be interesting to see what those scheming bastards Schumer and Leahy vote on that one.

The executive branch also needs to change. Too often, it's inefficient, outdated and remote. That's why I've asked this Congress to grant me the authority to consolidate the federal bureaucracy so that our Government is leaner, quicker, and more responsive to the needs of the American people.

Finally, none of these reforms can happen unless we also lower the temperature in this town. We need to end the notion that the two parties must be locked in a perpetual campaign of mutual destruction; that politics is about clinging to rigid ideologies instead of building consensus around common sense ideas.

I'm a Democrat. But I believe what Republican Abraham Lincoln believed: That Government should do for people only what they cannot do better by themselves, and no more. The hitch in there for POTUS is that he believes, as do many progressives, that centralized government does everything best, there is no room for individual paths. That's why my education reform offers more competition, and more control for schools and States. That's why we're getting rid of regulations that don't work. That's why our health care law relies on a reformed private market, not a Government program.

On the other hand, even my Republican friends who complain the most about Government spending have supported federally-financed roads, and clean energy projects, and federal offices for the folks back home.

The point is, we should all want a smarter, more effective Government. Do not forget SMALLER. And while we may not be able to bridge our biggest philosophical differences this year, we can make real progress. With or without this Congress, I will keep taking actions that help the economy grow. But I can do a whole lot more with your help. Because when we act together, there is nothing the United States of America can't achieve.

That is the lesson we've learned from our actions abroad over the last few years.

Ending the Iraq war has allowed us to strike decisive blows against our enemies. From Pakistan to Yemen, the al Qaeda operatives who remain are scrambling, knowing that they can't escape the reach of the United States of America.

From this position of strength, we've begun to wind down the war in Afghanistan. Ten thousand of our troops have come home. Twenty-three thousand more will leave by the end of this summer. This transition to Afghan lead will continue, and we will build an enduring partnership with Afghanistan, so that it is never again a source of attacks against America.

As the tide of war recedes, a wave of change has washed across the Middle East and North Africa, from Tunis to Cairo; from Sana'a to Tripoli. A year ago, Qadhafi was one of the world's longest-serving dictators - a murderer with American blood on his hands. Today, he is gone. And in Syria, I have no doubt that the Assad regime will soon discover that the forces of change can't be reversed, and that human dignity can't be denied.

How this incredible transformation will end remains uncertain. But we have a huge stake in the outcome. And while it is ultimately up to the people of the region to decide their fate, we will advocate for those values that have served our own country so well. We will stand against violence and intimidation. We will stand for the rights and dignity of all human beings - men and women; Christians, Muslims, and Jews. Surely you really did not mean to include the Jews, did you? We will support policies that lead to strong and stable democracies and open markets, because tyranny is no match for liberty.

And we will safeguard America's own security against those who threaten our citizens, our friends, and our interests. Look at Iran. Through the power of our diplomacy, a world that was once divided about how to deal with Iran's nuclear program now stands as one. The regime is more isolated than ever before; its leaders are faced with crippling sanctions, and as long as they shirk their responsibilities, this pressure will not relent. Unrelenting ineffectual pressure, except from those countries buying their oil. Let there be no doubt: America is determined to prevent Iran from getting a nuclear weapon, and I will take no options off the table to achieve that goal. Don’t worry too much about that one, you will not do anything substantive and Israel will have to react in self preserving defense. But a peaceful resolution of this issue is still possible, and far better, and if Iran changes course and meets its obligations, it can rejoin the community of nations.

The renewal of American leadership can be felt across the globe. Our oldest alliances in Europe and Asia are stronger than ever. Our ties to the Americas are deeper. Our iron-clad commitment to Israel's security has meant the closest military cooperation between our two countries in history. Yes, but you think the Prime Minister of Israel isn’t worth your respect. We've made it clear that America is a Pacific power, and a new beginning in Burma has lit a new hope. From the coalitions we've built to secure nuclear materials, to the missions we've led against hunger and disease; from the blows we've dealt to our enemies; to the enduring power of our moral example, America is back.

Anyone who tells you otherwise, anyone who tells you that America is in decline or that our influence has waned, doesn't know what they're talking about. That's not the message we get from leaders around the world, all of whom are eager to work with us. That's not how people feel from Tokyo to Berlin; from Cape Town to Rio; where opinions of America are higher than they've been in years. Yes, the world is changing; no, we can't control every event. But America remains the one indispensable nation in world affairs - and as long as I'm President, I intend to keep it that way.

That's why, working with our military leaders, I have proposed a new defense strategy that ensures we maintain the finest military in the world, while saving nearly half a trillion dollars in our budget. The new plan, rub sticks together until they have a point, then poke the enemy. This plan saves money, generates semi-green heat and really pisses off the adversary. To stay one step ahead of our adversaries, I have already sent this Congress legislation that will secure our country from the growing danger of cyber-threats.

Above all, our freedom endures because of the men and women in uniform who defend it. As they come home, we must serve them as well as they served us. That includes giving them the care and benefits they have earned - which is why we've increased annual VA spending every year I've been President. And it means enlisting our veterans in the work of rebuilding our Nation.

With the bipartisan support of this Congress, we are providing new tax credits to companies that hire vets. Michelle and Jill Biden have worked with American businesses to secure a pledge of 135,000 jobs for veterans and their families. And tonight, I'm proposing a Veterans Job Corps that will help our communities hire veterans as cops and firefighters, so that America is as strong as those who defend her. I am all for it, lets use the VA to help those that come back with some PTS issues, so that we do not create another group of homeless veterans.

Which brings me back to where I began. Those of us who've been sent here to serve can learn from the service of our troops. When you put on that uniform, it doesn't matter if you're black or white; Asian or Latino; conservative or liberal; rich or poor; gay or straight. When you're marching into battle, you look out for the person next to you, or the mission fails. When you're in the thick of the fight, you rise or fall as one unit, serving one Nation, leaving no one behind. Reminds me of a Greek joke.

One of my proudest possessions is the flag that the SEAL Team took with them on the mission to get bin Laden. On it are each of their names. Some may be Democrats. Some may be Republicans. But that doesn't matter. Just like it didn't matter that day in the Situation Room, when I sat next to Bob Gates - a man who was George Bush's defense secretary; and Hillary Clinton, a woman who ran against me for president. Amen.

All that mattered that day was the mission. No one thought about politics. No one thought about themselves. One of the young men involved in the raid later told me that he didn't deserve credit for the mission. It only succeeded, he said, because every single member of that unit did their job - the pilot who landed the helicopter that spun out of control; the translator who kept others from entering the compound; the troops who separated the women and children from the fight; the SEALs who charged up the stairs. More than that, the mission only succeeded because every member of that unit trusted each other - because you can't charge up those stairs, into darkness and danger, unless you know that there's someone behind you, watching your back. Amen.

So it is with America. Each time I look at that flag, I'm reminded that our destiny is stitched together like those fifty stars and those thirteen stripes. No one built this country on their own. This Nation is great because we built it together. This Nation is great because we worked as a team. I in part disagree; mainly it is great because individual freedom allowed persons to pursue their own paths to their own concept of happiness. The part that I do agree with is that citizens have been willing to band together and fight when danger was present. This Nation is great because we get each other's backs. And if we hold fast to that truth, in this moment of trial, there is no challenge too great; no mission too hard. As long as we're joined in common purpose, as long as we maintain our common resolve, our journey moves forward, our future is hopeful, and the state of our Union will always be strong.

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

 

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