While Washington has been bailing out banks, I have been arguing that we need to focus on fixing the underlying problem: foreclosures on bad mortgages and the collapse of our housing market. Without fixing this fundamental problem, our economy will not get back on track. This week, we learned that the number of foreclosures spiked by 71 percent last quarter, and finally Congress and the Administration are putting together a plan to address this problem. Let me say: It's about time.
I have been focusing my priorities on helping those people who have been impacted by this crisis. I have a plan to let retirees and people nearing retirement keep their money in their retirement accounts longer so they can rebuild their savings.
I have a plan to hold the line on taxes and cut them to make America more competitive and create jobs here at home. Raising taxes makes a bad economy much worse. Keeping taxes low creates jobs, keeps money in your hands and strengthens our economy.
The explosion of government spending over the last eight years has put us deeper in debt to foreign countries that don't have our best interests at heart. It weakened the dollar and made everything you buy more expensive.
I will freeze government spending on all but the most important programs like defense, veterans care, Social Security and health care until we scrub every single government program and get rid of the ones that aren't working for the American people. And I will veto every single pork barrel bill Congresses passes.
As Joe the Plumber and small business owners across the country have now reminded us all, America didn't become the greatest nation on earth by giving our money to the government to "spread the wealth around." In this country, we believe in spreading opportunity, for those who need jobs and those who create them. And that is exactly what I intend to do as President of the United States.
Thanks for listening.