[Congressional Record (Bound Edition), Volume 158 (2012), Part 1]
[Senate]
[Page 218]
[From the U.S. Government Publishing Office, www.gpo.gov]




                              THE ECONOMY

  Mr. REID. Mr. President, for generations this was the American 
promise: If you worked hard and played by the rules, success would be 
within your reach. We call that success the American dream--to earn a 
decent wage, buy a home, put your children through school, and retire 
comfortably. For many people in this country, that dream has drifted 
further and further from reality. The recession cost many Americans 
their jobs, homes, savings, and basic economic security. Many are still 
struggling. Although the economy has made slow progress toward 
recovery, there is still much more work to be done before every 
American who wants to work can find a job.
  But the terrible recession is only part of the problem. The same Wall 
Street greed that caused the financial collapse is fueling the greatest 
income disparity since the Great Depression. In the last few decades, 
the average CEO's income has multiplied 250 times. Meanwhile, CEO's 
employees have watched their incomes creep up barely at all.
  So America is at a crossroads. As President Lyndon Johnson said in 
1965--and it is time to ask that now--and I quote:

       . . . not only how to create wealth but how to use it; not 
     only how fast we are going, but where we are headed.

  That is what he said. And the path we choose will determine what kind 
of a country we will be. We can choose to be the kind of nation where 
the hard work of many pays off only for the richest few or we can be 
the kind of nation where every man and woman shoulders a fair share of 
the burden and reaps a fair share of the reward. We can be the kind of 
country where the rich get richer and the poor get poorer or we can be 
the kind of country where middle-class families share in the 
opportunity and the prosperity.
  President Obama has called this choice a ``make or break moment'' for 
the middle class, and tonight he will lay out a roadmap that sets us on 
the path to fairness instead of inequality. I look forward to hearing 
President Obama's vision this evening. It begins with an economy that 
works for every American--regardless of the size of his or her 
checkbook. I expect the President to lay out commonsense ideas to spur 
American manufacturing, create jobs, and help small businesses compete 
and grow. His vision is fueled by homegrown, renewable energy. It is 
time to stop spending American dollars on foreign oil. It is time to 
hire American workers to build wind turbines and next-generation 
vehicles. The President will propose a new plan to make sure that 
today's students are ready for tomorrow's jobs and that today's workers 
remain competitive in our global economy.
  I expect the President to include ideas from Democrats and from 
Republicans. For 3 years, the President has reached out to Republicans. 
Now is the time to work with him on common ideas to produce 
legislation, not stalemate. I ask my Republican colleagues to give his 
bipartisan vision the consideration it deserves.
  In 1947, President Truman delivered the first televised State of the 
Union Message. Truman was the 20th President to govern alongside a 
Congress controlled by the opposing party. The first was George 
Washington. He said Democrats in the executive branch and Republicans 
in the legislative branch could and should work hand in hand to shape 
the Nation. This is what he said:

       There are ways of disagreeing; men who differ can still 
     work together sincerely for the common good.

  I hope Republicans in Congress will keep those words in mind tonight. 
Despite all our differences, together we can build an economy that 
works for the common good of all Americans.
  Mr. President, I suggest the absence of a quorum.
  The ACTING PRESIDENT pro tempore. The clerk will call the roll.
  The legislative clerk proceeded to call the roll.
  Mr. McCONNELL. Mr. President, I ask unanimous consent that the order 
for the quorum call be rescinded.
  The ACTING PRESIDENT pro tempore. Without objection, it is so 
ordered.

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