Obama’s Weekly Address and Meet the Press

(transcript of weekly address)

Good morning.

Yesterday, we received another painful reminder of the serious economic challenge our country is facing when we learned that 533,000 jobs were lost in November alone, the single worst month of job loss in over three decades. That puts the total number of jobs lost in this recession at nearly 2 million.

But this isn’t about numbers. It’s about each of the families those numbers represent. It’s about the rising unease and frustration that so many of you are feeling during this holiday season. Will you be able to put your kids through college? Will you be able to afford health care? Will you be able to retire with dignity and security? Will your job or your husband’s job or your daughter’s or son’s job be the next one cut?

These are the questions that keep so many Americans awake at night. But it is not the first time these questions have been asked. We have faced difficult times before, times when our economic destiny seemed to be slipping out of our hands. And at each moment, we have risen to meet the challenge, as one people united by a sense of common purpose. And I know that Americans can rise to the moment once again.

But we need action – and action now. That is why I have asked my economic team to develop an economic recovery plan for both Wall Street and Main Street that will help save or create at least two and a half million jobs, while rebuilding our infrastructure, improving our schools, reducing our dependence on oil, and saving billions of dollars.

We won’t do it the old Washington way. We won’t just throw money at the problem. We’ll measure progress by the reforms we make and the results we achieve — by the jobs we create, by the energy we save, by whether America is more competitive in the world.

Today, I am announcing a few key parts of my plan. First, we will launch a massive effort to make public buildings more energy-efficient. Our government now pays the highest energy bill in the world. We need to change that. We need to upgrade our federal buildings by replacing old heating systems and installing efficient light bulbs. That won’t just save you, the American taxpayer, billions of dollars each year. It will put people back to work.

Second, we will create millions of jobs by making the single largest new investment in our national infrastructure since the creation of the federal highway system in the 1950s. We’ll invest your precious tax dollars in new and smarter ways, and we’ll set a simple rule – use it or lose it. If a state doesn’t act quickly to invest in roads and bridges in their communities, they’ll lose the money.

Third, my economic recovery plan will launch the most sweeping effort to modernize and upgrade school buildings that this country has ever seen. We will repair broken schools, make them energy-efficient, and put new computers in our classrooms. Because to help our children compete in a 21st century economy, we need to send them to 21st century schools.

As we renew our schools and highways, we’ll also renew our information superhighway. It is unacceptable that the United States ranks 15th in the world in broadband adoption. Here, in the country that invented the internet, every child should have the chance to get online, and they’ll get that chance when I’m President – because that’s how we’ll strengthen America’s competitiveness in the world.

In addition to connecting our libraries and schools to the internet, we must also ensure that our hospitals are connected to each other through the internet. That is why the economic recovery plan I’m proposing will help modernize our health care system – and that won’t just save jobs, it will save lives. We will make sure that every doctor’s office and hospital in this country is using cutting edge technology and electronic medical records so that we can cut red tape, prevent medical mistakes, and help save billions of dollars each year.

These are a few parts of the economic recovery plan that I will be rolling out in the coming weeks. When Congress reconvenes in January, I look forward to working with them to pass a plan immediately. We need to act with the urgency this moment demands to save or create at least two and a half million jobs so that the nearly two million Americans who’ve lost them know that they have a future. And that’s exactly what I intend to do as President of the United States.

Thanks for listening.


  1. allen b. shay says

    December 17, 2008

    RE: Solutions for the Housing & Job Crisis can be jump started by using small businesses effective as of Jan. 21,2009

    Dear Shaun Donovan,

    I have made several attempts to contact members of congress, the senate and the new administration’s transitional team regarding solutions for the housing and job crisis but to no avail. I write to you with hopes that we can discuss this bold plan that I have created which will require federal assistance. I also write to you with hopes that you will champion this cause so that we may implement this plan in time to prepare for the second wave of foreclosures projected for 2009 – 2010.

    I have been in business since September 1981 in the areas of Real Estate, Finance, Taxes and Business Strategy along with possessing a legal background. I consistently deal with the stress and anxiety of the average American to find real, tangible, solutions. I believe that my many years of service as an expert in these areas, can be transformed into an effective initiative to tackle our current housing and employment challenges.

    Below, please find an outline of the above mentioned plan as it relates to a national solution that will improve our uncertain economy. I am confident that this plan can be that “single solution or magic bullet” that Chairman Sheila Bair of the FDIC did not believe existed.

    This proposal can be developed to take effect as of January 21, 2009 and will produce a comprehensive and effective business model that will:

    Stop & Prevent Foreclosure:

    Establish eligibility of loan modification within 72 hours after a complete application has been submitted
    Establish a safeguard procedure that will prevent the homeowner from re-entering the foreclosure process

    Stabilize Property Values:

    Retention of homeownership in order to prevent declining sale value
    Reduce inventory of foreclosed properties where homeowners are in possession or retain title of ownership

    Stimulate New Investments:

    Develop Partnership Investments for new businesses or expansion of businesses
    Integrate partnership with financial institutions that received a part of the 700 billon dollar bailout or any new stimulus legislation to be enacted
    New tax structure to create incentives for high income earners above $250,000 per year. These participants will contribute to the program which will create capital, job creation and business growth, without a tax increase

    Solution for the Housing Crisis and Other Areas of our Economy (Continued)

    Create Job Growth:

    The program will match employers with employees who are enrolled
    Current unemployed applicants will enroll into the program to qualify for employment first by the prospective employer who is a member of the partnership structure of this business model
    The job placement program projects a minimum employment growth of 100,000 new jobs per month, 30 days after the implementation of this program

    Create Educational Opportunities:

    Cost associated with an unemployed applicants requiring training for employment opportunities in emerging industries will be paid by this program
    Employers who are members shall have the option of receiving tax credits or matching funds if unemployed applicant is hired and requires additional education or training to pursue a career in an emerging industry
    Finance, income tax and credit counseling will be required for all who enroll in this program

    Create Accountability:

    Each applicant and or transaction performed under this business model will be tracked and all information will be retained for accurate reporting, research, analysis and for auditing purposes

    Restore Consumer Confidence:

    Upon enrolling into this new program, each applicant will be issued an assigned card to be used with all purchases from merchants that are members under this new business model. The applicant will be entitled to a ten to twenty percent discount for each transaction when using the assigned card

    This proposal has been developed to serve as a fast-track program to create the business model the government can use for the 21st century economy that will ride on the innovation of the internet. Please contact me as soon as possible.


    Allen Shay

    For questions regarding this outline, please contact:

    Allen B. Shay 202 S. Lake Ave Suite 260 Pasadena, CA 91101

    626-584-0499 (Phone) shayandassociates@hotmail.com (Email)

    COPYRIGHT © 2008

    Shay & Associates
    202 S. Lake Avenue Suite 260
    Pasadena, California 91101
    (Tel) 626.584.0499
    (Fax) 626.584.0703

    Make it a Productive Day!

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