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Obama addresses Congress and The Nation

Tuesday, February 24, 2009


In a most ambitious well written speech, President Obama addressed the Congress and the nation tonight. An estimated TV audience of 40 million people watched as President Obama focused on three budget priorities that he will present to the Congress later in the week. The priorities are health care, education and energy. Both Democrats and Republicans agree that the budget has skyrocketed, and also the fact that the budget should drop in a few years as planned. But Republicans and Democrats say the only way to know if Obama's  plan actually works would be when Americans get back to work, banks start loaning money, and companies start hiring instead of laying off workers.
The reasons for the economic crisis is varied according to the President, but made sure to mention that it evolved because of government and individual decisions. Instead of investing in the future, a surplus of money was transferred to the wealthy. The lack of regulations were forsaken for quick profits because of a healthy stock market. People acquired loans that they could not afford to pay back, at a time when the banks did not properly qualify an individual for a mortgage, and when they couldn't afford to pay, foreclosures started. A snowball effect took place which ran down hill that triggered the recession, and President Obama stated says that we knew for decades that this day would come. But now, the day of reckoning has come. He claims that we must act quickly, boldly and wisely, to reinvest in the future, including jobs, health care, education and energy. Obama promises that the United States will recover from these tough times and be stronger than ever before. 

How do you think Obama did in his speech? Listen to the video below and try and make up your mind from a historical point of view?

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