tv Presidents Weekly Radio Address CSPAN April 24, 2010 6:15pm-6:30pm EDT
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will say -- who will stand up and changed the game in d.c. we have an important decision to make on may 4. will we continue with politics as usual, or will we ride ourselves back to the government of the people and by the people and for the people and insert we the people back into our government? stand with we the people on may 4 and vote for richard behney. if you stood at 80 party, i ask for your vote. -- if you stood at a tea party. thank you for being here. >> thank you for the question. why should you vote for me? when i ran for congress for the first time in 1994 iran to restore trust in government, so
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i put down on paper my stances on important issues. i was told by people who had done that before who had been in public office that you cannot do that. at some time in the future you may have to cast a vote that deviates from these things you put down. i wanted to restore trust in government. i wanted people to know i was going to do what i told them i was going to do. if i was asked to raise taxes when i had pledged that i wouldn't, -- when i was asked to compromise on the right to life by folks in my party or an outside my party who said they would let this vote passed, i would not do that. i am hearing all over that what measures are longing for is a voice not only for the conservative values -- what hoosiers are longing for -- a
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voice that will be consistent in washington, that i will do what i said i will do. if we don't have that trust then we will never be able to make the difficult decisions necessary to put america back on the right track. >> thank you. >> thank you for your graciousness tonight. you have been a tremendous host. thank you for the question. three of my colleagues in the past few days have worked very hard to earn the support of washington to win the nomination. i don't believe washington should choose this nominee, it should be hoosiers. i am a financial adviser. i am not a politician. i believe i have a grasp of the fiscal problem facing our nation. let me tell you, our nation is at a time of crisis.
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we stand at a crossroads. down one path is a socialistic state and the other is reagan's shining city on a hill. if you elect me i promise to lead the charge to reagan's shining city on a hill. ronald reagan said let us be sure that those who come after us will save us in their time that in our time we did everything that could be done. we finished the race. and we kept the faith. i hope you will vote for me on may 4. god bless indiana and god bless the united states. >> thank you for a spirited discussion. i know our viewers across the hoosier state enjoyed it and enjoy listening. thanks to all of you for çwatching to our u.s. senate debate sponsored by the indiana debate commission. our thanks to the staffs. a special thanks to the voters
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to ask the questions. speaking of voters, primary day is tuesday, may 4. go vote for one of these five individuals. look for news from the indiana debate commission at that debates coming this fall. from indianapolis, good night. ho[captioning performed by national captioning institute] [captions copyright national cable satellite corp. 2010]
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>> this week of america and the courts, discussion on the media and national security issues. america and the courts, today at 7:00 p.m. eastern on c-span. >> in his weekly address this week, president obama talks about the state of u.s. auto companies following the government's decision to aid in restructure the industry and the need for financial regulatory change on wall street. financial regulation was also a topic of the gop weekly address, this week given by senior republican kay bailey hutchinson. >> it was a little more than one year ago that our country faced a potentially devastating crisis in our of our industry. over the course of 2008, the
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industry shed 400,000 jobs in the midst of a financial crisis and the procession. but general motors and chrysler, to companies that for generations were a symbol of america's manufacturing might, were on the brink of collapse. the rapid dissolution of these companies, followed by the certain failure of many of parts makers, car dealers, and other small businesses, would have dealt a crippling blow to our already suffering economy. the best estimates are that more than 1 million american workers could have lost their jobs. the previous administration extended temporary loans to both companies. even so on, when i took office, the situation remained dire. we had to determine if we could justify additional taxpayer assistance. many of the problems and of industry were a direct result of poor management decisions over decades. it was not an easy call. but we decided that while providing additional assistance was a risk, the far greater risk to families and communities across our country was to do nothing. we agree to additional help, but
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only if the companies and their stakeholders were willing to break with the past three that had to finally reorganized, with new management that would reorder -- reexamine the decisions that led to this mess and tara -- chart a path toward viability. it was not a popular decision, but it was the right one. gm and chrysler went through restructurings that it required enormous sacrifices on the part of all involved. some fear river throwing good money after bad, that taxpayers will lose their investment and the companies would soon fail regardless. one year later, the outlook is very different. the industry is recovering at a pace few thought possible. just this week received some encouraging news. since general motors emerge from bankruptcy, the auto industry has actually added 45,000 jobs, the strongest growth in a decade. chrysler announced an operating profit in the first three months of this year. this is the first time chrysler
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has reported a profit since the beginning of the economic crisis. what's more, gm announced it has paid back its loans to taxpayers with interest fully five years ahead of schedule. it will not be too long before the stock treasury is holding in gm can be sold, helping to reimburse the american people for their investment. in addition, chrysler financial has already fully repaid with interest the loans it received to support our financing. where closing the books on the temporary program that helped part suppliers weather the storm. finally, we are bringing to an end many of the emergency programs designed to stabilize the financial sector and restart lending so folks could finance cars and trucks as well as homes and small businesses. on friday, the treasury department informed congress that this financial rescue which was absolutely necessary to prevent an even worse economic disaster, will end up costing taxpayers a fraction of what was
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originally feared. this is a direct result of careful management of the investments made by the american people so that we could recoup as many tax dollars as possible and as quickly as possible. these steps, as well as others we have taken, have meant that millions of people are working today who might otherwise have lost their jobs. these steps were never meant be permanent. as i have said many times, i did not run for president to get into the on a business or the banking business. as essential as it was that we got in, i am glad to see that we are getting out. that the same time, even as we have come a long way, we still have a ways to go. the auto industry is more stable today and the economy is on a better footing, but people are still hurting. i hear from them just about every day in letters are read and the towns and cities of visit. no matter what the economic statistics say, i will not be satisfied until folks who need work can find good jobs. after a recession that stole 8 million jobs, this is going to
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take some time. this will require that we continue to tackle the underlying problems that caused this turmoil in the first place. in short, it is essential that we learned the lessons of this crisis or we risk repeating it. part of what led to the crisis in the auto industry, one of the main causes of the economic downturn, were problems in our financial sector. the absence of common-sense rules, wall street firms took enormous, irresponsible risks that imperil our financial system and hurt just about every sector of our economy. some people simply forgot that behind every dollar traded or leverage, there is a family looking to buy a house, pay for education, open a business, or save for retirement. that is why went to new york city this week and addressed an audience that included leaders of the financial industry. once again i call for reforms to hold wall street accountable and protect consumers. these reforms will put an end once and for all to taxpayer bailout. that would bring greater
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transparency to complex financial dealings and empower ordinary consumers and shareholders in our financial system. folks will be clearer and more concise information when they make financial decisions, instead of having to worry about deceptive fine print. shareholders and pension holders will have a stronger voice in the boardrooms and companies in which they invest their savings. that is how we will restore trust and confidence in our markets and help put an end to the cycle of boom and bust that we have seen. that is out after two very difficult years, we will help to rebuild the economy stronger than ever before. thanks. >> i am kay bailey hutcheson, united states senator from texas. for more than a year, democrats and republicans on capitol hill have been working to craft legislation that would prevent another catastrophic financial crisis like we saw in the fall of 2008. republicans are working to ensure the bill would prevent
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any future bailout of wall street banks. the idea that a financial institution is too big to fail perverts free-market capitalism. it suggests that large firms can privatize their profits, yet socialize their risk, or put simply, these companies take their profits in good times, but when things go bad, they turn to the government to bail them out. this must end. the american people should not be forced to pay the risky gambling debts of the large financial institutions. the democrats pushed a bill for the senate banking committee that does not stop future bailouts. republicans have been attacked for speaking out against it and asking for bipartisan negotiations before allowing the bill to be debated on the senate floor. to be clear, we will stand firm against the partisan built that
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exposes ordinary taxpayers to future bailouts, or favors big companies over community banks across america. the tactics the democratic leadership used to pass a health-care bill must not be repeated. thankfully, negotiations in the senate continued. it is time for the name calling to stop. getting our economy back on track is too important to allow political gains to sidetrack these efforts. both parties agreed that any financial regulation should do one essential thing. no company should be considered too big to fail, and never again should taxpayers be expected to bailout those who made risky financial bets with other people's money. unfortunately, the white house is attacking republican leaders to score political points. americans are troubled by the way democrats forced their
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health care bill on the public that overwhelmingly opposed it. the democrats are trying to do it again, but they underestimate americans understanding. the fact is, a growing number of experts on both sides of this ideological spectrum are coming to see but republicans have been saying all along. the financial regulation bill contains serious flaws. we believe this bill can be fixed with a sincere, bipartisan solution, and as the president said in his visit to wall street on thursday, we are still working on a bipartisan bill drawing on the ideas of democrats and republicans. that is a far cry from last week's comments. it is time for democrats to put away the political playbook and simply say publicly what they are suggesting private
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