Post by Joseph Clark on Apr 25, 2008 18:27:29 GMT -5
Senator Clark speaks to Michigan State AFL-CIO
We have had speeches from Washington for the last seven years but never accompanied with the right action. We have 47 million people without health insurance. Two years ago more people declared bankruptcy than graduated from collage, and last year was no better. The subprime home market has gone unnoticed by the Bush Administration because they keep arguing we have to give trillions of dollars of tax cuts for the wealthy.
The subprime crisis was a failure on the part of the lenders, and the government. Former Federal Reserve Chairman Alan Greenspan rejected former Federal Reserve Governor Edward Gramlich’s proposal that would have put a curb on the Sub-prime crisis. I believe we can pursue policies together that lift us all up and homeownership is one piece of that puzzle. We need to establish strong Federal Reserve monitoring for lenders.
The inescapable reality is that globalization, modern technology, and economic policy, are creating new conditions for America. The reality is America does not exist in a vacuum. It’s easy take a protectionist stance and say times have changed. But the fact is countries that run away from globalization will pay a heavy price for decades to come.
We also have to do more to rise up the opportunity for young people from middle-class and working families and poor families to be able to go to college. Americans work harder than anybody in the world. When you measure productivity Americans are the hardest-working people.
We can rebuild a strong and prosperous America for all Americans. After what this administration has done over the last seven years, it will not be an easy task. I am up to the task, and with your support we can build a strong and prosperous America for the 21st century.
We getting back to where we were seven years ago with a balanced budget and a surplus, start paying as we go again, instead of borrowing billions of dollars every month from countries like China, Japan, South Korea, the gulf states.
Ladies and Gentlemen,
Lets send Washington a message. We can fix these problems. I have faith that we will answer that call. With your help we will rebuild America.
Ladies and Gentlemen of the great state of Michigan thank you for your time.
We have had speeches from Washington for the last seven years but never accompanied with the right action. We have 47 million people without health insurance. Two years ago more people declared bankruptcy than graduated from collage, and last year was no better. The subprime home market has gone unnoticed by the Bush Administration because they keep arguing we have to give trillions of dollars of tax cuts for the wealthy.
The subprime crisis was a failure on the part of the lenders, and the government. Former Federal Reserve Chairman Alan Greenspan rejected former Federal Reserve Governor Edward Gramlich’s proposal that would have put a curb on the Sub-prime crisis. I believe we can pursue policies together that lift us all up and homeownership is one piece of that puzzle. We need to establish strong Federal Reserve monitoring for lenders.
The inescapable reality is that globalization, modern technology, and economic policy, are creating new conditions for America. The reality is America does not exist in a vacuum. It’s easy take a protectionist stance and say times have changed. But the fact is countries that run away from globalization will pay a heavy price for decades to come.
We also have to do more to rise up the opportunity for young people from middle-class and working families and poor families to be able to go to college. Americans work harder than anybody in the world. When you measure productivity Americans are the hardest-working people.
We can rebuild a strong and prosperous America for all Americans. After what this administration has done over the last seven years, it will not be an easy task. I am up to the task, and with your support we can build a strong and prosperous America for the 21st century.
We getting back to where we were seven years ago with a balanced budget and a surplus, start paying as we go again, instead of borrowing billions of dollars every month from countries like China, Japan, South Korea, the gulf states.
Ladies and Gentlemen,
Lets send Washington a message. We can fix these problems. I have faith that we will answer that call. With your help we will rebuild America.
Ladies and Gentlemen of the great state of Michigan thank you for your time.
