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Report: Blueprint For The American Economy

President Obama

"In his State of the Union Address, the President laid 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.

The President believes this is a make or break moment for the middle class and those trying to reach it. What’s at stake is the very survival of the basic American promise that if you work hard, you can do well enough to raise a family, own a home, and put a little away for retirement.

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 more Americans barely get by. Or we can build a nation where everyone gets a fair shot, everyone does their fair share, and everyone plays by the same rules. At stake right now are not Democratic or Republican values, but American values – and for the sake of our future, we have to reclaim them.

The fact is, the economic security of the middle class has eroded for decades. Long before the recession, good jobs and manufacturing began leaving our shores. Hard work stopped paying off for too many Americans. Those at the top saw their incomes rise like never before, but the vast majority of Americans struggled with costs that were growing and paychecks that weren’t.

In 2008, the house of cards collapsed. Mortgages were sold to people who couldn’t afford or understand them. Banks made huge bets and bonuses with other people’s money. It was a crisis that cost us more than eight million jobs and plunged our economy and the world into a crisis from which we are still fighting to recover.

Three years later, thanks to the President’s bold actions, the economy is growing again. Over the past 22 months, our businesses have created 3.2 million jobs. Last year, we added the most private sector jobs since 2005. American manufacturing is creating jobs for the first time since the late 1990s. The American auto industry is back. Today, American oil production is the highest that it’s been in eight years. Together, we’ve agreed to cut the deficit by more than $2 trillion. The President signed into law new rules to hold Wall Street accountable, so a crisis like the one we’ve endured never happens again.

When we act together, in common purpose and common effort, there is nothing the United States of America cannot achieve. That’s why the President’s blueprint for action contains policies that businesses can take, actions that Congress needs to take, as well as actions that the President will take on his own. We have come too far to turn back now. We cannot go back to an economy based on outsourcing, bad debt, and phony financial profits. The President intends to keep moving forward and rebuild an economy where hard work pays off and responsibility is rewarded – an economy built to last".

Click here to read blueprint