to turn our economy around, but the beginning. The problems that led us into this crisis are deep and widespread. Our response must be equal to the task.
For our plan to succeed, we must stabilize, repair, and reform our banking system, and get credit flowing again to families and businesses.
We must write and enforce new rules of the road, to stop unscrupulous speculators from undermining our economy ever again.
We must stem the spread of foreclosures and do everything we can to help responsible homeowners stay in their homes.
And in the weeks ahead, I will submit a proposal for the federal budget that will begin to restore the discipline these challenging times demand. Our debt has doubled over the past eight years, and we’ve inherited a trillion-dollar deficit – which we must add to in the short term in order to jumpstart our sick economy. But our long-term economic growth demands that we tame our burgeoning federal deficit; that we invest in the things we need, and dispense with the things we don’t. This is a challenging agenda, but one we can and will achieve.
This morning, I’m reminded of words President Kennedy spoke in another time of uncertainty. “Do not pray for easy lives. Pray to be stronger men. Do not pray for tasks equal to your powers. Pray for powers equal to your tasks.”
America, we will prove equal to this task. It will take time, and it will take effort, but working together, we will turn this crisis into opportunity and emerge from our painful present into a brighter future. After a week spent with the fundamentally decent men and women of this nation, I have never been more certain of that. Thank you.
(Source: White House)