HIGHLIGHTS:
The good news is, we are moving forward with a sense of urgency equal to the challenge.
The American Recovery and Investment plan was passed by the House this week. Now it moves to the Senate. I will continue working with both parties so the strongest possible bill gets to my desk. It's time to move in a new direction.
Our economic recovery will take years. Politics cannot get in the way of action. I'm calling on the Senate to pass this bill so we can begin the long, hard work of getting our economy out of this crisis.
Banks have been extended a hand, but homeowners, students, and small businesses that need loans have been left to fend for their own. We learned this week that even as they petitioned for taxpayer assistance, Wall Street shamefully paid out $20 billion in bonuses in 2008.
I'm committed to doing what it takes to keep the flow of credit. We will not tolerate such arrogance and greed. We must all act responsibly from Wall Street to Washington to Wall Street.
We'll ensure that CEOs are not draining funds that should be advancing our recovery. We want transparency so that taxpayers know if their money is achieving results.
Rarely in history have we faced economic problems as devastating as this crisis, but our strength as Americans compels us to pull together. My administration is dedicated to advancing your dreams. Now is the time for us in Washington to live up to our responsibilities.
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