Yesterday, Financial Regulatory Reform was passed, securing another one of the pillars to President Barack Obama's New Foundation for a return to American growth and prosperity.
Last year, President Obama laid out the pillars to a New Foundation. He said that to return America to growth and prosperity, we needed to;
1. Rescue the economy from the the national economic emergency we were in.
2. Pass Health Care Reform so that long term controls and initiatives to
control rapidly rising health care costs would be out in place.
3. Pass Energy legislation so that we can control our own energy future, reduce
dependance on foreing oil, and change the way energy impacts all levels of
4. Reduce long term debt; the current bi partisan commission to control spending
and reuce debt will report to the President in December with recommendations
on how to proceeed.
He also said,
" We can’t afford to return to the pre-crisis status quo. We can’t go back to an economy that was too dependent on bubbles and debt and financial speculation. We can’t accept economic growth that leaves the middle class owing more and making less. We have to build a new and stronger foundation for growth and prosperity -- and that’s exactly what we’ve been doing for the last 16 months.
It’s a foundation based on investments in our people and their future; investments in the skills and education we need to compete; investments in a 21st century infrastructure for America, from high-speed railroads to high-speed Internet; investments in research and technology, like clean energy, that can lead to new jobs and new exports and new industries.
This new foundation is also based on reforms that will make our economy stronger and our businesses more competitive -- reforms that will make health care cheaper, our financial system more secure, and our government less burdened with debt."
President Obama created, and is executing a strategy to lay a New Foundation for America's future. In contrast, our Republican opponents have stood against each and every initiative that made to stabilize and provide a basis for new growth, sustainable long term.
* They opposed the TARP bill and subsequent Economic Recovery Act; unbelieveably,
as this was started under Presdent Bush.
* They opposed with every form imaginable Health Care Reform, and managed to
not have one vote , not one vote, for reform to a systemic problem facing
* They have logjammed over 20 judicial appoinments, and many more appointments
at every level, simply in intransient opposition to anything President Obama
asks Congress to approve.
Without you, the New Foundation would continue to be a dream. With you, the New Foundation is becoming a reality. It is not something that has been given to you, it is something you have worked for each and every day of the last 18 months.
We Stand, With You, For Hope & Change,
Lou and Carol Frillman