President Obama Delivers His First State of the Union Address. Part 2
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Uploaded on Jan 27, 2010
9:54 "We will not continue tax cuts for oil companies, investment fund managers and those making over $250,000 a year. We just can't afford it"
9:52 Obama proposes steps to "pay for the $1 trillion that it took to rescue the economy last year," including a partial freeze on some government programs. He says he will enforce the freeze by veto if he has to
Broad range of programs targeted by proposed spending freeze
Obama proposes almost doubling child care tax credit
9:48 On health care, Obama urges Congress not to walk away. "Not now. Not when we are so close. Let us find a way to come together and finish the job for the American people"
9:45 Standing ovation after Obama acknowledges first lady Michelle Obama for her efforts to tackle childhood obesity. With all eyes on the first lady, Obama notes, "She gets embarrassed" as she motions for those in the chambers to sit down
9:44 Obama gets more laughs: "By now it should be fairly obvious that I didn't take on health care because it was good politics"
9:41 A call for safe, clean nuclear power plans brings GOP to its feet
9:37 Obama announces goal of doubling exports over the next five years, an increase that he says will support 2 million jobs in America. "To help meet this goal, we're launching a National Export Initiative that will help farmers and small businesses increase their exports, and reform export controls consistent with national security"
9:36 On climate change: "Even if you doubt the evidence, providing incentives for energy efficiency and clean energy are the right thing to do for our future -- because the nation that leads the clean energy economy will be the nation that leads the global economy. And America must be that nation"
9:34 On financial reform: "The lobbyists are already trying to kill it. Well, we cannot let them win this fight. And if the bill that ends up on my desk does not meet the test of real reform, I will send it back"
9:29 Obama urges the Senate follow the House's lead and pass a jobs bill, saying, "I want a jobs bill on my desk without delay"
9:28 Obama says workers in Tampa, Florida, will soon break ground on a new high-speed railroad funded by the Recovery Act
9:27 On stimulating the economy: "I'm proposing that we take $30 billion of the money Wall Street banks have repaid and use it to help community banks give small businesses the credit they need to stay afloat. I am also proposing a new small business tax credit -- one that will go to over one million small businesses who hire new workers or raise wages. While we're at it, let's also eliminate all capital gains taxes on small business investment; and provide a tax incentive for all businesses, large and small, to invest in new plants and equipment."
9:23 Obama credits the creation of 2 million jobs with steps his administration has taken toward economic recovery, adding, "We are on track to add another one and a half million jobs to this total by the end of the year"
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