State of the Union 2012



On Tuesday, President Barack Obama gave the State of the Union address and set the tone for his fall campaign.

The following are excerpts from his speech:

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. 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.
Imagine what we could accomplish if we followed their example.

The defining issue of our time is how to keep that promise alive. No challenge is more urgent. No debate is more important. 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, or we can restore an economy where everyone gets a fair shot, and everyone does their fair share, and everyone plays by the same set of rules.

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.

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. 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.

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 in their budgets. And colleges and universities have to do their part by working to keep costs down. 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 is an economic imperative that every family in America should be able to afford.

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.

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. So if you are a big bank or financial institution, you’re 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 are not bailing you out ever again.

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. 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’ve served us. That includes giving them the care and the benefits they have earned, which is why we’ve increased annual V.A. spending every year I’ve been president.

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. 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, and our future is hopeful, and the state of our union will always be strong.