Notes from The State of the Union Address 2012 - Obama

I tried to make them unbiased as possible.  In fact, I tried to NOT put any of MY own thoughts.  This is just an outline of what I heard and topics that Obama has covered.

The bits I put “thoughts?” on are things I want to hear from you about.

I’m sorry my notes are a bit unorganised.  Copying from Word to here messes all the bullet points up.

•    First time in 9 years, no Americans fighting in Iraq
o    From power point, says over 9 million have served between 2009-2011
•    Osama bin Laden no longer a threat
o    Taliban momentum has been broken
o    Troops in Afghanistan are starting to come home
    Talks about team work in the Armed Forces
    Talks about following an example for people who lead the world.
•    “A future where we are in control of our own energy.”  - Thoughts?
o    Hard work pays off and responsibility is rewarded
•    Compares how many Armed Forces have served since WWII until Iraq.
•    The Shrinking Middle-Class
o    Talks about percentage of households with annual income within 50% of the median
o    “While the wealthiest prosper, the middle class lags
o    Triangle of bad mortgages, no regulation, risky financial practises
    Compares The Crisis on Wall Street to the 4 million jobs lost before Obama took office
    In 22 months, businesses have created 3.2 million private sector jobs
    334,000 manufacturing jobs created in the last two years
    New rules to keep Wall Street accountable to prevent a crisis like this again – thoughts?
•    State of our Union is getting stronger – thoughts?
o    Fight obstruction with action
o    Says that we will not go back to a country of bad debt
o    Shows a blueprint on how to move forward – new manufacturing, new skills, American energy, renewal of values
    Manufacturing – Auto industry job losses
•    GM brought 160,000 jobs since Obama took office
o    Bet on American workers and ingenuity
o    Sales rose 7.6% in 2011
•    Can’t bring every job back, but it’s getting more expensive to do business in China; America is being more productive, bringing jobs back home.
•    Master Lock insourced 100 jobs in Milwaukee
•    Start with Tax break – the cost of closing down a factory to move it overseas is a tax-deductible business expense
o    High taxes
o    If outsourcing, you shouldn’t get a tax deduction
o    Should be used to bring jobs back home
•    No American should skip taxes if moving overseas
o    Every multi-national company should pay a basic tax minimum – thoughts?
•    American manufacturer should get a big tax cut – thoughts?
o    Double the tax deduction for high-tech manufactuers who make products in the US
o    Provide financing help for companies who relocate to communities that lost factories.
•    Promoting the US Economy
o    Jan. 24, 2012, Department of commerce had 284 trade remedy enforcement action
•    Trade Enforcement Unit
o    To investigate unfair trade such as in China
o    No foreign company should have advantages over American companies
o    “America will always win” – Obama
•    Science and Technology
o    Twice as many openings for every qualified worker
o    Wants schools to train 2 million Americans that will help lead to a job in this industry
    Wants more resources at community colleges
o    One employment system that puts people to work
o    Convinced every state to raise standards to change the way they teach
    Keep good teachers, reward the best ones
    Replace teachers who aren’t helping children learn
o    “if half of the 1.3 million high school dropouts had graduated, they could have earned 7.6 billion more in an average year”
    Every student should stay in school (requirement) until they graduate or turn 18. – Obama
•    Tuition Debt
o    More in tuition debt than credit card debt
o    If congress doesn’t act, interest rates on new Stafford loans will increase in July
o    Rising cost of a higher education:  9,719 in 1994, 17,131 in 2012 – public colleges
•    More Boots on the Border
o    Fewer illegal crossings since Obama took office
o    Working on comprehensive immigration reform
o    Immigrants represent 24% of US scientists, 47% of US engineers
    Wants a way to prove a way to make immigrants US citizens
•    Innovation has always been what America has always been about – Obama
o    64% of new jobs over past 15 years came from small businesses
o    Demands basic research
•    Energy
o    Less than half the oil consumed in the US came from overseas; imports of foreign oil have fallen to the lowest level since 1995
o    Oil production has increased in US for the last 8 years
o    Saudi Arabia 266.7 billion barrels; US 20.7 billion barrels
    Wants to create a strategy that is cheaper and cleaner
o    Claims there’s source of natural gas that will run the US for 100 years; provides 600,000 jobs
    Government support is critical for businesses to get off the ground – thoughts?
o    Obama claims he will not walk away from workers who have no jobs, but are trying to get one in the wind, sea, or battery industry
o    Eliminating tax breaks for oil and gas companies saves $40 billion over the next decade
o    Obama has directed the permitting of clean energy on public lands to 3 million homes
    Largest commitments to power homes and industries
    American will have less pollution, more manufacturing, can save$ 100,000 billion on energy bills for industries
•    Rebuilding
o    Roads, bridges, power grid uses too much energy, slow Internet speed
o    Wants to sign executive order to clear away reconstructing projects
o    Wants to take money that was used for war to rebuild
    50% nation-building at home, 50% reconstruction
•    Homeowners
o    Homeowners lost $7 trillion in home equity since 2005
o    Plan:  Every responsible homeowner to save $250 a month, $3000 a year
    No more run-arounds at banks, no red-tape, gives low rates to homeowners a deficit of trust
o    Smart regulations for irresponsible behaviour
    Rules to prevent financial fraud, toxic dumping, faulty medical devices
•    Obama has approved lesser regulations than George W. Bush
o    Ordered every federal agencies to get rid of rules that don’t make sense
o    Helps citizens and businesses to save more
•    Wall Street Reform
o    No more risky bets with customer deposits for big banks
o    No more confusing forms from credit card companies and mortgage lenders
o    No more taxpayer-funded bailouts
o    Check out cfpb.gov – Consumer Financial Protection Bureau
•    Financial Crimes Unit
o    To investigate fraud
    Penalties for fraud count
o    Wants to expand the investigation of mortgage fraud
•    If congress doesn’t act by 3/1/2012, roughly 160 million people will see less money in each paycheck
o    Bush had a giant tax cut for the wealthy than the middle class.
o    Affordable Care Act – What it did
    2.5 million Americans under 26 have insurance through their parent’s plan
    Millions of seniors have received 50% less on medical care
•    Buffett Rule
o    Make over $1 million per year, pay at least 30% in taxes
    Currently, a quarter of millionaires pay a lower tax rate than millions of middle-class families
o    If you make under $250,000 a year, taxes shouldn’t go up
    You’re the ones struggling with rising costs and staggering wages – Obama
o    Tax cuts on the rich adds more to the deficit and makes others, such as middle class, suffer more and pay more
•    Will the US Pay Their Bills?
o    “Send me a bill that bans insider trading, I will sign it tomorrow” – Obama
o    Doesn’t want to lobby Congress
    The way Congress does its business
•    Proposed new rule for Judiciary committee vote and confirmation – now 90 Days
o    Obama was 139 days in circuit and 99 days in district court under Obama
o    29 days in circuit and 21 days in district court under Bush
•    Proposes combining six government agencies into one department, focused on helping American businesses
•    Recovery Act – recovery.gov
•    We can’t wait
o    Making it easier for students to repay college loans
o    Reducing waste and fraud in Medicare and Medicaid
o    Combating prescription drug shortages and price gouging
o    Providing startup companies with $2 billion in resources
o    “There’s nothing we can’t achieve” – Obama
•    Troops
o    On December 18, 2011, the last American troops left Iraq
o    Afghanistan
    10,000 have come home
    23,000 will leave by end of summer
    Transitioning NATO-ISAF to Afghan responsibility
o    Stand FOR every right for people:  women, men, Christians, Muslims, Jews – thoughts?
•    Iran
o    Iran’s Nuclear Programme
o    Now stands as one; regime is more isolated; leaders at crippling sanctions
o    America is dedicated to take the nuclear programme out of Iran  - Obama
o    Peaceful resolution still possible and far better – Obama
•    Defence Strategy
o    Ensures we remain the pre-eminent military in the world
o    Preserves the talent of volunteer force
o    Wants to cut down trillions of dollars, while still keeping upkeep of the US military
o    Wants to give care and giving to the VA
o    Enlisting VA for rebuilding of the nation
    135,000 jobs committed to Veterans and family
•    40,000 already hired – joiningforces.gov
o    Talks about how the nation is held together like the military – everyone watches each other’s back – thoughts?
•    End of State of the Union Address

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