Barack Obama

Name: The Reality of This Crisis — Barack Obama's presidential speeches
Author: Barack Obama

The Reality of This Crisis — Barack Obama's presidential speeches

Summary

“The Reality of This Crisis — Barack Obama's presidential speeches”, is a work by Barack Obama. It explores elements such as crisis, executives and taxpayers.

Quotes from The Reality of This Crisis — Barack Obama's presidential speeches (Barack Obama)

Barack Obama, The Reality of This Crisis — Barack Obama's presidential speeches

“ The economic crisis we face is unlike any we've seen in our lifetime. It's a crisis of falling confidence and rising debt, of widely distributed risk and narrowly concentrated reward; a crisis written in the fine print of sub-prime mortgages, on the ledger lines of once mighty financial institutions, and on the pink slips that have upended the lives of so many people across this country and cost the economy 2.6 million jobs last year alone. ”

[↩︎]

Source: Wikisource

Barack Obama, The Reality of This Crisis — Barack Obama's presidential speeches

“ Now, in the past few days I've heard criticisms that this plan is somehow wanting, and these criticisms echo the very same failed economic theories that led us into this crisis in the first place -- the notion that tax cuts alone will solve all our problems; that we can ignore fundamental challenges like energy independence and the high cost of health care; that we can somehow deal with this in a piecemeal fashion and still expect our economy and our country to thrive. ”

[↩︎]

Source: Wikisource

Barack Obama, The Reality of This Crisis — Barack Obama's presidential speeches

“ We know that even if we do everything that we should, this crisis was years in the making, and it will take more than weeks or months to turn things around.
But make no mistake: A failure to act, and act now, will turn crisis into a catastrophe and guarantee a longer recession, a less robust recovery, and a more uncertain future. Millions more jobs will be lost. More businesses will be shuttered. More dreams will be deferred. ”

[↩︎]

Source: Wikisource

Barack Obama, The Reality of This Crisis — Barack Obama's presidential speeches

“ We don't disparage wealth. We don't begrudge anybody for achieving success. And we certainly believe that success should be rewarded. But what gets people upset -- and rightfully so -- are executives being rewarded for failure, especially when those rewards are subsidized by U.S. taxpayers, many of whom are having a tough time themselves.
For top executives to award themselves these kinds of compensation packages in the midst of this economic crisis isn't just bad taste -- it's bad strategy -- and I will not tolerate it as President. ”

[↩︎]

Source: Wikisource

Barack Obama, The Reality of This Crisis — Barack Obama's presidential speeches

“ We're going to be taking a look at broader reforms so that executives are compensated for sound risk management, and rewarded for growth measured over years, not just days or weeks.
We all have to pull together and take our share of responsibility. That's true here in Washington. That's true on Wall Street. The American people are carrying a huge burden as a result of this economic crisis: bearing the brunt of its effects as well as the cost of extraordinary measures we're taking to address them. ”

[↩︎]

Source: Wikisource

Barack Obama, The Reality of This Crisis — Barack Obama's presidential speeches

“ But in order to restore trust in our financial system, we're going to have to do more than just put forward our plans. In order to restore trust, we've got to make certain that taxpayer funds are not subsidizing excessive compensation packages on Wall Street. ”

[↩︎]

Source: Wikisource

Barack Obama, The Reality of This Crisis — Barack Obama's presidential speeches

“ We're going to examine the ways in which the means and manner of executive compensation have contributed to a reckless culture and a quarter-by-quarter mentality that in turn helped to wrought havoc in our financial system. ”

[↩︎]

Source: Wikisource

Barack Obama, The Reality of This Crisis — Barack Obama's presidential speeches

“ With it, we can save or create more than three million jobs, doing things that will strengthen our country for years to come. It's not merely a prescription for short-term spending -- it's a strategy for long-term economic growth in areas like renewable energy and health care and education. ”

[↩︎]

Source: Wikisource

Barack Obama, The Reality of This Crisis — Barack Obama's presidential speeches

“ No plan is perfect, and we should work to make it stronger. No one is more committed to making it stronger than me. But let's not make the perfect the enemy of the essential. Let's show people all over the country who are looking for leadership in this difficult time that we are equal to the task. ”

[↩︎]

Source: Wikisource

Barack Obama, The Reality of This Crisis — Barack Obama's presidential speeches

“ At the same time, we know that this recovery and reinvestment plan is only the first part of what we need to do to restore prosperity and secure our future. We also need a strong and viable financial system to keep credit flowing to businesses and families alike. ”

[↩︎]

Source: Wikisource

Barack Obama, The Reality of This Crisis — Barack Obama's presidential speeches

“ As part of the reforms we're announcing today, top executives at firms receiving extraordinary help from U.S. taxpayers will have their compensation capped at $500,000 -- a fraction of the salaries that have been reported recently. And if these executives receive any additional compensation, it will come in the form of stock that can't be paid up until taxpayers are paid back for their assistance. ”

Barack Obama

Summary

Quotes from The Reality of This Crisis — Barack Obama's presidential speeches (Barack Obama)

Common terms

Similar works

Get perspective with Kwize: daily news enlightened by great literature