THE PRESIDENT: Thank you, everybody. Please, please have a seat. Thank you
so much. Thank you. Good afternoon, everybody.
AUDIENCE: Good afternoon.
THE PRESIDENT: Well, I want to start by thanking a few folks who've joined
us today. We've got the mayor of Osawatomie, Phil Dudley is here. (Applause.)
We have your superintendent Gary French in the house. (Applause.) And we have
the principal of Osawatomie High, Doug Chisam. (Applause.) And I have brought
your former governor, who is doing now an outstanding job as Secretary of
Health and Human Services -- Kathleen Sebelius is in the house. (Applause.) We
love Kathleen.
Well, it is great to be back in the state of Tex -- (laughter) -- state of
Kansas. I was giving Bill Self a hard time, he was here a while back. As many
of you know, I have roots here. (Applause.) I'm sure you're all familiar with
the Obamas of Osawatomie. (Laughter.) Actually, I like to say that I got my
name from my father, but I got my accent -- and my values -- from my mother.
(Applause.) She was born in Wichita. (Applause.) Her mother grew up in Augusta.
Her father was from El Dorado. So my Kansas roots run deep.
My grandparents served during World War II. He was a soldier in Patton's
Army; she was a worker on a bomber assembly line. And together, they shared the
optimism of a nation that triumphed over the Great Depression and over fascism.
They believed in an America where hard work paid off, and responsibility was
rewarded, and anyone could make it if they tried -- no matter who you were, no
matter where you came from, no matter how you started out. (Applause.)
And these values gave rise to the largest middle class and the strongest
economy that the world has ever known. It was here in America that the most
productive workers, the most innovative companies turned out the best products
on Earth. And you know what? Every American shared in that pride and in that
success -- from those in the executive suites to those in middle management to
those on the factory floor. (Applause.) So you could have some confidence that
if you gave it your all, you'd take enough home to raise your family and send
your kids to school and have your health care covered, put a little away for
retirement.
Today, we're still home to the world's most productive workers. We're still
home to the world's most innovative companies. But for most Americans, the
basic bargain that made this country great has eroded. Long before the
recession hit, hard work stopped paying off for too many people. Fewer and
fewer of the folks who contributed to the success of our economy actually
benefited from that success. Those at the very top grew wealthier from their
incomes and their investments -- wealthier than ever before. But everybody else
struggled with costs that were growing and paychecks that weren't -- and too
many families found themselves racking up more and more debt just to keep up.
Now, for many years, credit cards and home equity loans papered over this
harsh reality. But in 2008, the house of cards collapsed. We all know the story
by now: Mortgages sold to people who couldn't afford them, or even sometimes
understand them. Banks and investors allowed to keep packaging the risk and
selling it off. Huge bets -- and huge bonuses -- made with other people's money
on the line. Regulators who were supposed to warn us about the dangers of all
this, but looked the other way or didn't have the authority to look at all.
It was wrong. It combined the breathtaking greed of a few with
irresponsibility all across the system. And it plunged our economy and the
world into a crisis from which we're still fighting to recover. It claimed the
jobs and the homes and the basic security of millions of people -- innocent,
hardworking Americans who had met their responsibilities but were still left
holding the bag.
And ever since, there's been a raging debate over the best way to restore
growth and prosperity, restore balance, restore fairness. Throughout the
country, it's sparked protests and political movements -- from the tea party to
the people who've been occupying the streets of New York and other cities. It's
left Washington in a near-constant state of gridlock. It's been the topic of heated
and sometimes colorful discussion among the men and women running for
president. (Laughter.)
But, Osawatomie, this is not just another political debate. This is the
defining issue of our time. This is a make-or-break moment for the middle
class, and for all those who are fighting to get into the middle class. Because
what's at stake is whether this will be a country where working people can earn
enough to raise a family, build a modest savings, own a home, secure their
retirement.
Now, in the midst of this debate, there are some who seem to be suffering
from a kind of collective amnesia. After all that's happened, after the worst
economic crisis, the worst financial crisis since the Great Depression, they
want to return to the same practices that got us into this mess. In fact, they
want to go back to the same policies that stacked the deck against middle-class
Americans for way too many years. And their philosophy is simple: We are better
off when everybody is left to fend for themselves and play by their own rules.
I am here to say they are wrong. (Applause.) I'm here in Kansas to reaffirm
my deep conviction that we're greater together than we are on our own. I
believe that this country succeeds when everyone gets a fair shot, when
everyone does their fair share, when everyone plays by the same rules.
(Applause.) These aren't Democratic values or Republican values. These aren't 1
percent values or 99 percent values. They're American values. And we have to
reclaim them. (Applause.)
You see, this isn't the first time America has faced this choice. At the
turn of the last century, when a nation of farmers was transitioning to become
the world's industrial giant, we had to decide: Would we settle for a country
where most of the new railroads and factories were being controlled by a few
giant monopolies that kept prices high and wages low? Would we allow our
citizens and even our children to work ungodly hours in conditions that were
unsafe and unsanitary? Would we restrict education to the privileged few? Because
there were people who thought massive inequality and exploitation of people was
just the price you pay for progress.
Theodore Roosevelt disagreed. He was the Republican son of a wealthy family.
He praised what the titans of industry had done to create jobs and grow the
economy. He believed then what we know is true today, that the free market is
the greatest force for economic progress in human history. It's led to a
prosperity and a standard of living unmatched by the rest of the world.
But Roosevelt also knew that the free market has never been a free license
to take whatever you can from whomever you can. (Applause.) He understood the
free market only works when there are rules of the road that ensure competition
is fair and open and honest. And so he busted up monopolies, forcing those
companies to compete for consumers with better services and better prices. And
today, they still must. He fought to make sure businesses couldn't profit by
exploiting children or selling food or medicine that wasn't safe. And today,
they still can't.
And in 1910, Teddy Roosevelt came here to Osawatomie and he laid out his
vision for what he called a New Nationalism. "Our country," he said,
"...means nothing unless it means the triumph of a real democracy...of an
economic system under which each man shall be guaranteed the opportunity to
show the best that there is in him." (Applause.)
Now, for this, Roosevelt was called a radical. He was called a socialist --
(laughter) -- even a communist. But today, we are a richer nation and a
stronger democracy because of what he fought for in his last campaign: an
eight-hour work day and a minimum wage for women -- (applause) -- insurance for
the unemployed and for the elderly, and those with disabilities; political
reform and a progressive income tax. (Applause.)
Today, over 100 years later, our economy has gone through another
transformation. Over the last few decades, huge advances in technology have
allowed businesses to do more with less, and it's made it easier for them to
set up shop and hire workers anywhere they want in the world. And many of you
know firsthand the painful disruptions this has caused for a lot of Americans.
CBS News)
Factories
where people thought they would retire suddenly picked up and went overseas,
where workers were cheaper. Steel mills that needed 100 -- or 1,000 employees
are now able to do the same work with 100 employees, so layoffs too often
became permanent, not just a temporary part of the business cycle. And these
changes didn't just affect blue-collar workers. If you were a bank teller or a
phone operator or a travel agent, you saw many in your profession replaced by
ATMs and the Internet.
Today,
even higher-skilled jobs, like accountants and middle management can be
outsourced to countries like China or India. And if you're somebody whose job
can be done cheaper by a computer or someone in another country, you don't have
a lot of leverage with your employer when it comes to asking for better wages
or better benefits, especially since fewer Americans today are part of a union.
Now, just
as there was in Teddy Roosevelt's time, there is a certain crowd in Washington
who, for the last few decades, have said, let's respond to this economic
challenge with the same old tune. "The market will take care of
everything," they tell us. If we just cut more regulations and cut more
taxes -- especially for the wealthy -- our economy will grow stronger. Sure,
they say, there will be winners and losers. But if the winners do really well,
then jobs and prosperity will eventually trickle down to everybody else. And,
they argue, even if prosperity doesn't trickle down, well, that's the price of
liberty.
Now, it's
a simple theory. And we have to admit, it's one that speaks to our rugged
individualism and our healthy skepticism of too much government. That's in
America's DNA. And that theory fits well on a bumper sticker. (Laughter.) But
here's the problem: It doesn't work. It has never worked. (Applause.) It didn't
work when it was tried in the decade before the Great Depression. It's not what
led to the incredible postwar booms of the '50s and '60s. And it didn't work
when we tried it during the last decade. (Applause.) I mean, understand, it's
not as if we haven't tried this theory.
Remember
in those years, in 2001 and 2003, Congress passed two of the most expensive tax
cuts for the wealthy in history. And what did it get us? The slowest job growth
in half a century. Massive deficits that have made it much harder to pay for
the investments that built this country and provided the basic security that
helped millions of Americans reach and stay in the middle class -- things like
education and infrastructure, science and technology, Medicare and Social
Security.
Remember
that in those same years, thanks to some of the same folks who are now running
Congress, we had weak regulation, we had little oversight, and what did it get
us? Insurance companies that jacked up people's premiums with impunity and
denied care to patients who were sick, mortgage lenders that tricked families
into buying homes they couldn't afford, a financial sector where
irresponsibility and lack of basic oversight nearly destroyed our entire
economy.
We simply
cannot return to this brand of "you're on your own" economics if
we're serious about rebuilding the middle class in this country. (Applause.) We
know that it doesn't result in a strong economy. It results in an economy that
invests too little in its people and in its future. We know it doesn't result
in a prosperity that trickles down. It results in a prosperity that's enjoyed
by fewer and fewer of our citizens.
Look at
the statistics. In the last few decades, the average income of the top 1
percent has gone up by more than 250 percent to $1.2 million per year. I'm not
talking about millionaires, people who have a million dollars. I'm saying
people who make a million dollars every single year. For the top one hundredth
of 1 percent, the average income is now $27 million per year. The typical CEO
who used to earn about 30 times more than his or her worker now earns 110 times
more. And yet, over the last decade the incomes of most Americans have actually
fallen by about 6 percent.
Now, this
kind of inequality -- a level that we haven't seen since the Great Depression
-- hurts us all. When middle-class families can no longer afford to buy the
goods and services that businesses are selling, when people are slipping out of
the middle class, it drags down the entire economy from top to bottom. America
was built on the idea of broad-based prosperity, of strong consumers all across
the country. That's why a CEO like Henry Ford made it his mission to pay his
workers enough so that they could buy the cars he made. It's also why a recent
study showed that countries with less inequality tend to have stronger and
steadier economic growth over the long run.
Inequality
also distorts our democracy. It gives an outsized voice to the few who can
afford high-priced lobbyists and unlimited campaign contributions, and it runs
the risk of selling out our democracy to the highest bidder. (Applause.) It
leaves everyone else rightly suspicious that the system in Washington is rigged
against them, that our elected representatives aren't looking out for the
interests of most Americans.
But
there's an even more fundamental issue at stake. This kind of gaping inequality
gives lie to the promise that's at the very heart of America: that this is a
place where you can make it if you try. We tell people -- we tell our kids --
that in this country, even if you're born with nothing, work hard and you can
get into the middle class. We tell them that your children will have a chance
to do even better than you do. That's why immigrants from around the world
historically have flocked to our shores.
And yet,
over the last few decades, the rungs on the ladder of opportunity have grown
farther and farther apart, and the middle class has shrunk. You know, a few
years after World War II, a child who was born into poverty had a slightly
better than 50-50 chance of becoming middle class as an adult. By 1980, that
chance had fallen to around 40 percent. And if the trend of rising inequality
over the last few decades continues, it's estimated that a child born today
will only have a one-in-three chance of making it to the middle class -- 33
percent.
It's
heartbreaking enough that there are millions of working families in this
country who are now forced to take their children to food banks for a decent
meal. But the idea that those children might not have a chance to climb out of
that situation and back into the middle class, no matter how hard they work?
That's inexcusable. It is wrong. (Applause.) It flies in the face of everything
that we stand for. (Applause.)
Now,
fortunately, that's not a future that we have to accept, because there's
another view about how we build a strong middle class in this country -- a view
that's truer to our history, a vision that's been embraced in the past by
people of both parties for more than 200 years.
It's not
a view that we should somehow turn back technology or put up walls around
America. It's not a view that says we should punish profit or success or
pretend that government knows how to fix all of society's problems. It is a
view that says in America we are greater together -- when everyone engages in
fair play and everybody gets a fair shot and everybody does their fair share.
(Applause.)
So what
does that mean for restoring middle-class security in today's economy? Well, it
starts by making sure that everyone in America gets a fair shot at success. The
truth is we'll never be able to compete with other countries when it comes to
who's best at letting their businesses pay the lowest wages, who's best at
busting unions, who's best at letting companies pollute as much as they want.
That's a race to the bottom that we can't win, and we shouldn't want to win
that race. (Applause.) Those countries don't have a strong middle class. They
don't have our standard of living.
The race
we want to win, the race we can win is a race to the top -- the race for good
jobs that pay well and offer middle-class security. Businesses will create
those jobs in countries with the highest-skilled, highest-educated workers, the
most advanced transportation and communication, the strongest commitment to
research and technology.
The world
is shifting to an innovation economy and nobody does innovation better than
America. Nobody does it better. (Applause.) No one has better colleges. Nobody
has better universities. Nobody has a greater diversity of talent and
ingenuity. No one's workers or entrepreneurs are more driven or more daring.
The things that have always been our strengths match up perfectly with the
demands of the moment.
But we
need to meet the moment. We've got to up our game. We need to remember that we
can only do that together. It starts by making education a national mission --
a national mission. (Applause.) Government and businesses, parents and
citizens. In this economy, a higher education is the surest route to the middle
class. The unemployment rate for Americans with a college degree or more is
about half the national average. And their incomes are twice as high as those
who don't have a high school diploma. Which means we shouldn't be laying off
good teachers right now -- we should be hiring them. (Applause.) We shouldn't
be expecting less of our schools -- we should be demanding more. (Applause.) We
shouldn't be making it harder to afford college -- we should be a country where
everyone has a chance to go and doesn't rack up $100,000 of debt just because
they went. (Applause.)
In
today's innovation economy, we also need a world-class commitment to science
and research, the next generation of high-tech manufacturing. Our factories and
our workers shouldn't be idle. We should be giving people the chance to get new
skills and training at community colleges so they can learn how to make wind
turbines and semiconductors and high-powered batteries. And by the way, if we
don't have an economy that's built on bubbles and financial speculation, our
best and brightest won't all gravitate towards careers in banking and finance.
(Applause.) Because if we want an economy that's built to last, we need more of
those young people in science and engineering. (Applause.) This country should
not be known for bad debt and phony profits. We should be known for creating
and selling products all around the world that are stamped with three proud
words: Made in America. (Applause.)
Today,
manufacturers and other companies are setting up shop in the places with the
best infrastructure to ship their products, move their workers, communicate
with the rest of the world. And that's why the over 1 million construction
workers who lost their jobs when the housing market collapsed, they shouldn't
be sitting at home with nothing to do. They should be rebuilding our roads and
our bridges, laying down faster railroads and broadband, modernizing our
schools -- (applause) -- all the things other countries are already doing to
attract good jobs and businesses to their shores.
Yes,
business, and not government, will always be the primary generator of good jobs
with incomes that lift people into the middle class and keep them there. But as
a nation, we've always come together, through our government, to help create
the conditions where both workers and businesses can succeed. (Applause.) And
historically, that hasn't been a partisan idea. Franklin Roosevelt worked with
Democrats and Republicans to give veterans of World War II -- including my
grandfather, Stanley Dunham -- the chance to go to college on the G.I. Bill. It
was a Republican President, Dwight Eisenhower, a proud son of Kansas --
(applause) -- who started the Interstate Highway System, and doubled down on
science and research to stay ahead of the Soviets.
Of course,
those productive investments cost money. They're not free. And so we've also
paid for these investments by asking everybody to do their fair share. Look, if
we had unlimited resources, no one would ever have to pay any taxes and we
would never have to cut any spending. But we don't have unlimited resources.
And so we have to set priorities. If we want a strong middle class, then our
tax code must reflect our values. We have to make choices.
Today
that choice is very clear. To reduce our deficit, I've already signed nearly $1
trillion of spending cuts into law and I've proposed trillions more, including
reforms that would lower the cost of Medicare and Medicaid. (Applause.)
But in
order to structurally close the deficit, get our fiscal house in order, we have
to decide what our priorities are. Now, most immediately, short term, we need
to extend a payroll tax cut that's set to expire at the end of this month.
(Applause.) If we don't do that, 160 million Americans, including most of the
people here, will see their taxes go up by an average of $1,000 starting in
January and it would badly weaken our recovery. That's the short term.
In the
long term, we have to rethink our tax system more fundamentally. We have to ask
ourselves: Do we want to make the investments we need in things like education
and research and high-tech manufacturing -- all those things that helped make
us an economic superpower? Or do we want to keep in place the tax breaks for
the wealthiest Americans in our country? Because we can't afford to do both.
That is not politics. That's just math. (Laughter and applause.)
Now, so
far, most of my Republican friends in Washington have refused under any
circumstance to ask the wealthiest Americans to go to the same tax rate they
were paying when Bill Clinton was president. So let's just do a trip down
memory lane here.
Keep in
mind, when President Clinton first proposed these tax increases, folks in
Congress predicted they would kill jobs and lead to another recession. Instead,
our economy created nearly 23 million jobs and we eliminated the deficit.
(Applause.) Today, the wealthiest Americans are paying the lowest taxes in over
half a century. This isn't like in the early '50s, when the top tax rate was
over 90 percent. This isn't even like the early '80s, when the top tax rate was
about 70 percent. Under President Clinton, the top rate was only about 39
percent. Today, thanks to loopholes and shelters, a quarter of all millionaires
now pay lower tax rates than millions of you, millions of middle-class
families. Some billionaires have a tax rate as low as 1 percent. One percent.
CBS News)
That is
the height of unfairness. It is wrong. (Applause.) It's wrong that in the
United States of America, a teacher or a nurse or a construction worker, maybe
earns $50,000 a year, should pay a higher tax rate than somebody raking in $50
million. (Applause.) It's wrong for Warren Buffett's secretary to pay a higher
tax rate than Warren Buffett. (Applause.) And by the way, Warren Buffett agrees
with me. (Laughter.) So do most Americans -- Democrats, independents and
Republicans. And I know that many of our wealthiest citizens would agree to
contribute a little more if it meant reducing the deficit and strengthening the
economy that made their success possible.
This
isn't about class warfare. This is about the nation's welfare. It's about
making choices that benefit not just the people who've done fantastically well
over the last few decades, but that benefits the middle class, and those
fighting to get into the middle class, and the economy as a whole.
Finally,
a strong middle class can only exist in an economy where everyone plays by the
same rules, from Wall Street to Main Street. (Applause.) As infuriating as it
was for all of us, we rescued our major banks from collapse, not only because a
full-blown financial meltdown would have sent us into a second Depression, but
because we need a strong, healthy financial sector in this country.
But part
of the deal was that we wouldn't go back to business as usual. And that's why
last year we put in place new rules of the road that refocus the financial
sector on what should be their core purpose: getting capital to the
entrepreneurs with the best ideas, and financing millions of families who want
to buy a home or send their kids to college.
Now,
we're not all the way there yet, and the banks are fighting us every inch of
the way. But already, some of these reforms are being implemented.
If you're
a big bank or risky financial institution, you now have to write out a "living
will" that details exactly how you'll pay the bills if you fail, so that
taxpayers are never again on the hook for Wall Street's mistakes. (Applause.)
There are also limits on the size of banks and new abilities for regulators to
dismantle a firm that is going under. The new law bans banks from making risky
bets with their customers' deposits, and it takes away big bonuses and paydays
from failed CEOs, while giving shareholders a say on executive salaries.
This is
the law that we passed. We are in the process of implementing it now. All of
this is being put in place as we speak. Now, unless you're a financial
institution whose business model is built on breaking the law, cheating
consumers and making risky bets that could damage the entire economy, you
should have nothing to fear from these new rules.
Some of
you may know, my grandmother worked as a banker for most of her life -- worked
her way up, started as a secretary, ended up being a vice president of a bank.
And I know from her, and I know from all the people that I've come in contact
with, that the vast majority of bankers and financial service professionals,
they want to do right by their customers. They want to have rules in place that
don't put them at a disadvantage for doing the right thing. And yet,
Republicans in Congress are fighting as hard as they can to make sure that
these rules aren't enforced.
I'll give
you a specific example. For the first time in history, the reforms that we
passed put in place a consumer watchdog who is charged with protecting everyday
Americans from being taken advantage of by mortgage lenders or payday lenders
or debt collectors. And the man we nominated for the post, Richard Cordray, is
a former attorney general of Ohio who has the support of most attorney generals,
both Democrat and Republican, throughout the country. Nobody claims he's not
qualified.
But the
Republicans in the Senate refuse to confirm him for the job; they refuse to let
him do his job. Why? Does anybody here think that the problem that led to our
financial crisis was too much oversight of mortgage lenders or debt collectors?
AUDIENCE:
No!
THE
PRESIDENT: Of course not. Every day we go without a consumer watchdog is
another day when a student, or a senior citizen, or a member of our Armed
Forces -- because they are very vulnerable to some of this stuff -- could be
tricked into a loan that they can't afford -- something that happens all the
time. And the fact is that financial institutions have plenty of lobbyists
looking out for their interests. Consumers deserve to have someone whose job it
is to look out for them. (Applause.) And I intend to make sure they do.
(Applause.) And I want you to hear me, Kansas: I will veto any effort to delay
or defund or dismantle the new rules that we put in place. (Applause.)
We
shouldn't be weakening oversight and accountability. We should be strengthening
oversight and accountability. I'll give you another example. Too often, we've
seen Wall Street firms violating major anti-fraud laws because the penalties
are too weak and there's no price for being a repeat offender. No more. I'll be
calling for legislation that makes those penalties count so that firms don't
see punishment for breaking the law as just the price of doing business.
(Applause.)
The fact
is this crisis has left a huge deficit of trust between Main Street and Wall
Street. And major banks that were rescued by the taxpayers have an obligation
to go the extra mile in helping to close that deficit of trust. At minimum,
they should be remedying past mortgage abuses that led to the financial crisis.
They should be working to keep responsible homeowners in their home. We're
going to keep pushing them to provide more time for unemployed homeowners to
look for work without having to worry about immediately losing their house.
The big
banks should increase access to refinancing opportunities to borrowers who
haven't yet benefited from historically low interest rates. And the big banks
should recognize that precisely because these steps are in the interest of
middle-class families and the broader economy, it will also be in the banks'
own long-term financial interest. What will be good for consumers over the long
term will be good for the banks. (Applause.)
Investing
in things like education that give everybody a chance to succeed. A tax code
that makes sure everybody pays their fair share. And laws that make sure
everybody follows the rules. That's what will transform our economy. That's
what will grow our middle class again. In the end, rebuilding this economy
based on fair play, a fair shot, and a fair share will require all of us to see
that we have a stake in each other's success. And it will require all of us to
take some responsibility.
It will
require parents to get more involved in their children's education. It will
require students to study harder. (Applause.) It will require some workers to
start studying all over again. It will require greater responsibility from
homeowners not to take out mortgages they can't afford. They need to remember
that if something seems too good to be true, it probably is.
It will
require those of us in public service to make government more efficient and
more effective, more consumer-friendly, more responsive to people's needs.
That's why we're cutting programs that we don't need to pay for those we do.
(Applause.) That's why we've made hundreds of regulatory reforms that will save
businesses billions of dollars. That's why we're not just throwing money at
education, we're challenging schools to come up with the most innovative
reforms and the best results.
And it
will require American business leaders to understand that their obligations
don't just end with their shareholders. Andy Grove, the legendary former CEO of
Intel, put it best. He said, "There is another obligation I feel
personally, given that everything I've achieved in my career, and a lot of what
Intel has achieved...were made possible by a climate of democracy, an economic
climate and investment climate provided by the United States."
This
broader obligation can take many forms. At a time when the cost of hiring
workers in China is rising rapidly, it should mean more CEOs deciding that it's
time to bring jobs back to the United States -- (applause) -- not just because
it's good for business, but because it's good for the country that made their
business and their personal success possible. (Applause.)
I think
about the Big Three auto companies who, during recent negotiations, agreed to
create more jobs and cars here in America, and then decided to give bonuses not
just to their executives, but to all their employees, so that everyone was
invested in the company's success. (Applause.)
I think
about a company based in Warroad, Minnesota. It's called Marvin Windows and
Doors. During the recession, Marvin's competitors closed dozens of plants, let
hundreds of workers go. But Marvin's did not lay off a single one of their
4,000 or so employees -- not one. In fact, they've only laid off workers once
in over a hundred years. Mr. Marvin's grandfather even kept his eight employees
during the Great Depression.
Now, at
Marvin's when times get tough, the workers agree to give up some perks and some
pay, and so do the owners. As one owner said, "You can't grow if you're
cutting your lifeblood -- and that's the skills and experience your workforce
delivers." (Applause.) For the CEO of Marvin's, it's about the community.
He said, "These are people we went to school with. We go to church with
them. We see them in the same restaurants. Indeed, a lot of us have married
local girls and boys. We could be anywhere, but we are in Warroad."
That's
how America was built. That's why we're the greatest nation on Earth. That's
what our greatest companies understand. Our success has never just been about
survival of the fittest. It's about building a nation where we're all better
off. We pull together. We pitch in. We do our part. We believe that hard work
will pay off, that responsibility will be rewarded, and that our children will
inherit a nation where those values live on. (Applause.)
And it is
that belief that rallied thousands of Americans to Osawatomie -- (applause) --
maybe even some of your ancestors -- on a rain-soaked day more than a century
ago. By train, by wagon, on buggy, bicycle, on foot, they came to hear the
vision of a man who loved this country and was determined to perfect it.
"We
are all Americans," Teddy Roosevelt told them that day. "Our common
interests are as broad as the continent." In the final years of his life,
Roosevelt took that same message all across this country, from tiny Osawatomie
to the heart of New York City, believing that no matter where he went, no
matter who he was talking to, everybody would benefit from a country in which
everyone gets a fair chance. (Applause.)
And well
into our third century as a nation, we have grown and we've changed in many
ways since Roosevelt's time. The world is faster and the playing field is
larger and the challenges are more complex. But what hasn't changed -- what can
never change -- are the values that got us this far. We still have a stake in
each other's success. We still believe that this should be a place where you
can make it if you try. And we still believe, in the words of the man who
called for a New Nationalism all those years ago, "The fundamental rule of
our national life," he said, "the rule which underlies all others --
is that, on the whole, and in the long run, we shall go up or down
together." And I believe America is on the way up. (Applause.)
Thank
you. God bless you. God bless the United States of America. (Applause.)
"