“We’ll recover. It will take time, patience and the understanding that when we work together and look beyond our short-term interests, that’s when we’ll prosper. We should look to the future with new determination and renewed confidence.” – President Barack Obama
There should remain no question as to how President Obama intends to deal with the current financial crisis. Some of the greatest pieces of the solution lie in reducing health care costs, switching our energy dependence from foreign oil to clean resources that create jobs within the United States, investing in education and establishing policy that prevents systemic breakdown brought about by financial institutions.
In his opening remarks this evening, President Obama said the budget would cut the deficit in half by the end of his first term, and that we need to move from the borrow-and-spend mentality of previous years to one of save-and-invest if we’re going to bring down the deficit. He said there was a lot of rage and finger-pointing last week and, like so many others, he was angry about the large bonuses that went to those who brought us down and the culture that led us to this point. He said the days of outsized rewards and speculation that put us at risk are over, but we can’t demonize every investor or entrepreneur who seeks to make a profit.