Obama on Stock Market: ‘This Is Good News, People!’

BARACK OBAMA: “We believed we could prepare our kids for a more competitive world. And today, our younger students have earned the highest math and reading scores on record. Our high school graduation rate has hit an all-time high. And more Americans finish college than ever before. We believed that sensible regulations could prevent another crisis, shield families from ruin, and encourage fair competition. Today, we have new tools to stop taxpayer-funded bailouts, and a new consumer watchdog to protect us from predatory lending and abusive credit card practices. And in the past year alone, about ten million uninsured Americans finally gained the security of health coverage. At every step, we were told our goals were misguided or too ambitious; that we would crush jobs and explode deficits. Instead, we’ve seen the fastest economic growth in over a decade, our deficits cut by two-thirds, a stock market that has doubled, and health care inflation at its lowest rate in fifty years. So the verdict is clear. Middle-class economics works. Expanding opportunity works. And these policies will continue to work as long as politics get in the way.”