President Obama's State of the Union Address
President Barack Obama gave his first State of the Union speech on Jan. 27.
Below is a portion of the text as well as a link to where you can watch the whole speech.
Among the highlights:
Proposed using $30 billion repaid by Wall Street banks to help small businesses get loans.
- Urged progress on overall of health care system.
- Proposed three-year freeze on most domestic spending. National security spending, Medicare, Medicaid and Social Security would be exempt.
- Proposed $10,000 tax credit for four years of college, along with highter Pell Grants
- Wants to cap student loan repayments at 10 percent of income and forgive student load debt after 20 years, or after 10 if entering public service.
Source: Associated Press
Here is the text:
THE PRESIDENT: Madam Speaker, Vice President Biden, members of Congress, distinguished guests, and fellow Americans:
Our Constitution declares that from time to time, the President shall give to Congress information about the state of our union. For 220 years, our leaders have fulfilled this duty. They've done so during periods of prosperity and tranquility. And they've done so in the midst of war and depression; at moments of great strife and great struggle.
It's tempting to look back on these moments and assume that our progress was inevitable -- that America was always destined to succeed. But when the Union was turned back at Bull Run, and the Allies first landed at Omaha Beach, victory was very much in doubt. When the market crashed on Black Tuesday, and civil rights marchers were beaten on Bloody Sunday, the future was anything but certain. These were the times that tested the courage of our convictions, and the strength of our union. And despite all our divisions and disagreements, our hesitations and our fears, America prevailed because we chose to move forward as one nation, as one people.
Again, we are tested. And again, we must answer history's call.
Read the whole State of the Union text here
Watch the whole State of the Union here
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