3 President Barack Obama State of the Union 2010 – 3 of 7

English Only President Barack Obama in his First State of the Union Address Jan 27 2010 Part 3 of 7 To See The Speech with Farsi translation goto www.youtube.com Wednesday Jan 27, 2010 چهارشنبه 7 بهمن ۱۳۸۸. Text of Obama’s State of the Union Speech But the truth is, these steps wont make up for the seven million jobs that weve lost over the last two years. The only way to move to full employment is to lay a new foundation for long-term economic growth, and finally address the problems that Americas families have confronted for years. We cant afford another so-called economic expansion like the one from the last decade – what some call the lost decade – where jobs grew more slowly than during any prior expansion; where the income of the average American household declined while the cost of health care and tuition reached record highs; where prosperity was built on a housing bubble and financial speculation. From the day I took office, Ive been told that addressing our larger challenges is too ambitious; such an effort would be too contentious. Ive been told that our political system is too gridlocked, and that we should just put things on hold for a while. For those who make these claims, I have one simple question: How long should we wait? How long should America put its future on hold? (Applause.) You see, Washington has been telling us to wait for decades, even as the problems have grown worse. Meanwhile, China is not waiting to revamp its economy. Germany is not waiting. India is not waiting. These nations — theyre not standing still. These nations arent playing for second place. Theyre putting more emphasis on math and science. Theyre rebuilding their infrastructure. Theyre making serious investments in clean energy because they want those jobs. Well, I do not accept second place for the United States of America. (Applause.) As hard as it may be, as uncomfortable and contentious as the debates may become, its time to get serious about fixing the problems that are hampering our growth. Now, one place to start is serious financial reform. Look, I am not interested in punishing banks. Im interested in protecting our economy. A strong, healthy financial market makes it possible for businesses to access credit and create new jobs. It channels the savings of families into investments that raise incomes. But that can only happen if we guard against the same recklessness that nearly brought down our entire economy. We need to make sure consumers and middle-class families have the information they need to make financial decisions. (Applause.) We cant allow financial institutions, including those that take your deposits, to take risks that threaten the whole economy. Now, the House has already passed financial reform with many of these changes. (Applause.) And the lobbyists are trying to kill it. But we cannot let them win this fight. (Applause.) And if the bill that ends up on my desk does not meet the test of real reform, I will send it back until we get it right. Weve got to get it right. (Applause.) Next, we need to encourage American innovation. Last year, we made the largest investment in basic research funding in history – (applause) — an investment that could lead to the worlds cheapest solar cells or treatment that kills cancer cells but leaves healthy ones untouched. And no area is more ripe for such innovation than energy. You can see the results of last years investments in clean energy – in the North Carolina company that will create 1200 jobs nationwide helping to make advanced batteries; or in the California business that will put a thousand people to work making solar panels. But to create more of these clean energy jobs, we need more production, more efficiency, more incentives. And that means building a new generation of safe, clean nuclear power plants in this country. (Applause.) It means making tough decisions about opening new offshore areas for oil and gas development. (Applause.) It means continued investment in advanced biofuels and clean coal technologies. (Applause.) And, yes, it means passing a comprehensive energy and climate bill with incentives that will finally make clean energy the profitable kind of energy in America. (Applause.) I am grateful to the House for passing such a bill last year. (Applause.) And this year Im eager to help advance the bipartisan effort in the Senate. (Applause.) Read the rest of the Text in the speech with Farsi translation #6 www.youtube.com

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