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Members of congress.
I have the high privilege and the distinct honor of presenting to you the president of the United States.
Members of congress.
The distinguished guests.
And fellow Americans.
Last month I went to Andrews Air Force Base.
And welcome home some of our last troops to serve in Iraq.
Together we offered a final proud -- To the colors under which more than a million of our fellow citizens -- And several thousand.
Gave their lives.
We gather tonight knowing that this generation.
Of heroes has made the United States safer and and more respected around the world.
For the first time.
In nine years.
There are no Americans fighting in Iraq.
First time in two decades.
Osama bin Laden is not a threat to this country.
Most of -- qaeda's top lieutenants.
Have been defeated.
The -- bonds' momentum.
Has been broken.
And some troops in Afghanistan have begun to come home.
These achievements are a testament.
To the courage.
And team work of America's armed forces.
At a time -- too many of our institutions and let us -- They exceed all expectations.
They're not consumed with personal ambition.
They don't obsess over there differences.
They focused on the mission at hand.
Imagine what we could accomplish if we -- their exact.
-- America within our reach.
A country that leads the world in educating its -- America that attracts a new generation of high tech manufacturing and high paying jobs.
A future where were in control of our own energy.
And our security and prosperity are so -- unstable parts of the world.
An economy built to last.
More hard work pays off.
And responsibility there's Morgan.
We can do this.
I know we can because we've done it before.
The end of World War II when another generation of heroes return home from combat.
They built the strongest economy and middle class the world has ever known.
A veteran of -- are.
Got the chance to go to college on the GI bill.
My grandmother who worked on a bomber assembly line.
Was part of the workforce that turned out the best products on -- The two of them share the optimism of a nation that -- trial.
-- a depression.
They understood they were part of something larger.
There are contributing to a story of success that every American.
Had a chance to -- The basic American promise that if you worked hard.
You can do well enough to raise a family.
Own -- home.
Send your kids to college.
And put a little away for retirement.
The defining issue of our time.
Is how to keep that promise -- No challenge is more urgent.
No debate is more important.
We -- -- for our country where a shrinking number of people do really well.
While a growing number of Americans barely get by.
Or we can restore an economy where everyone gets a fair shot.
And everyone does their fair share and every one -- by the what's at -- -- democratic values are.
We have to reclaim them.
Let's remember how we got here.
Long before the recession.
Jobs in manufacturing began leaving our shores.
Technology make businesses more question.
But also made some jobs obsolete.
Folks in the -- -- their incomes rise like never before.
But most hardworking Americans struggle would cost but we're growing.
Paychecks that work.
And personal debt that kept piling up.
-- -- -- Today the house of cards collapsed.
We learn the mortgages have been sold to people who couldn't afford or understand.
Banks have made huge -- and bonuses -- other people's money.
Regulators have looked the other way.
-- have the authority to stop the bad behavior.
It was wrong.
It was irresponsible.
And it plunged our economy into a crisis that put millions out of work.
Saddled us with more -- and left -- -- and hardworking Americans holding the back.
In the six months before I took office we lost nearly four million jobs.
We lost another four million before -- policies weren't full effect.
Those are the fact.
And -- like two months -- -- have created more than three million jobs.
Year they created the most jobs since 2005.
American manufacturers are hiring again.
Creating jobs for the first time since the late nineteen -- Together we've agreed to cut the deficit by more than two trillion dollars.
And we put in place new rules to hold Wall Street accountable so crisis like this never happens again.
The state of our union.
Is getting strong.
And we've come too far to turn back now.
As long as I'm president I will work with anyone in this -- to build on this momentum.
Bryant and the fight obstruction without action and I will -- Any effort to return to the very same policies.
The brought on this economic crisis in the first place.
No we will not.
To economy weakened by outsourcing.
Bad -- And phony financial problems.
Tonight -- want to speak about how we move forward.
And lay out a blueprint for an economy that's built to last.
An economy built on American manufacturing.
American and -- Skills for American workers.
There -- -- all of American values.
Hello -- begins with American manufacturer.
On the day I took -- our auto industry it was on the verge of collapse.
Some even said we should let it -- With a million jobs at stake are.
I refused to let them have.
In exchange for help we demanded responsibility.
-- -- workers and auto makers to settle their differences.
We got the industry to retool and restructure.
Today General Motors is back on top as the world's number one auto maker.
Chrysler -- grown faster in the US than any major car companies.
Ford is investing billions in US plants in practice.
And together the entire industry added nearly a 160000.
We met on American workers.
We -- on American ingenuity.
The American auto industry is back.
What's happening in Detroit.
Can happen in other industries.
That can happen in Cleveland and Pittsburgh.
-- -- We can't bring it every job back that's left are short.
But right now it's getting more expensive to do business in places like China.
Meanwhile America is more productive.
A few weeks ago the -- master lock.
Told me that it now makes business sense for him.
To bring jobs back home.
Today for the first time in fifteen years.
Master -- unionized plant in Milwaukee is running at full capacity.
We have a huge opportunity.
At this -- To bring manufacturing back.
But we have to season.
Tonight my message to business leaders is simple.
Ask yourselves what you can do to bring jobs back to your country.
And your country will do everything we can't help you succeed.
We'll start with our tax -- Right now companies get tax breaks for moving jobs and profits overseas.
Meanwhile companies that choose to stay in America get hit with a one of the highest tax rates in the world.
It makes no sense.
And everyone knows.
So let's change it.
First if you're a business that wants to outsource jobs.
You shouldn't get a tax deduction for doing it.
That money should be used to cover moving expenses for governors like master lock.
The decide to bring jobs home.
No American company.
Should be able to avoid paying its fair share of taxes by moving jobs and profits overseas.
I'm not on every multinational company should have to pay eight basic minimum tax and every penny.
Should go towards lowering taxes.
For companies that choose to stay here and higher here in America.
-- -- If you're an American manufacturer.
You should get a bigger tax cut.
If you're a high tech manufacturer.
We should double the tax deduction you get for making your products here.
If you wanna relocate in a community that was hit hard won a factory left town usually get help financing a new plant.
-- training for new workers.
So -- message.
My message is simple.
It is time to stop.
Rewarding businesses that ship jobs overseas and start rewarding companies that create jobs right here in America --
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