(Archived Content)
As Prepared for Delivery
“We meet today during a period of fundamental change in our economy. Our population is growing older. The skills needed in today’s workforce are shifting. Global competition for business and investment is becoming more intense. And technological innovation is happening at a rapid speed.
“Our core responsibility is to make sure our economy is as vibrant and robust for our children and grandchildren as it was for previous generations. And the ultimate test for all of us will be how inclusive tomorrow’s economy is and how widely our economic gains flow.
“The American story has always been one of embracing change — capitalizing on groundbreaking ideas, inventions, and events to build a better future for the next generation. And the combination of our innovative spirit and smart public policy has always been a recipe for success in this country.”
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“Yet, many today wonder whether something that has always been true in our past will be true in our future. There are questions about whether America can maintain strong rates of growth and doubts about whether the benefits of technology, innovation and prosperity will be shared broadly.
“We have the capacity today, as we have in our past, to address these concerns as long as both the private sector and the public sector commit to policies that strengthen workers, innovators, and investment. It is up to each of us—government and business—to make choices that will secure our future.”
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“Economists describe economic potential as our capacity to produce goods and services. And we can only expand our potential if we focus on the three pillars that have made the U.S. economy a global powerhouse: the dynamism of our workers, investments that make us more productive, and our capacity for innovation.
“We can debate how to invest, but there is no debating that investment in these three critical areas is the key to our long-term growth. And how we make these investments will shape the economy and the opportunities of our children and grandchildren.”
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“For years we have heard that businesses need more confidence in the future before they will invest again – but indices of both consumer and business confidence are stronger now than any point in a long time. Instead of facing recurring government crises, we have a path for predictable and stable policy for the next two years. And capacity utilization is rising again. Now is the time to take a fresh look at opportunities to invest in our economy.”
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“Meeting with foreign leaders, I am told over and over how the foundation of our economy makes the United States an ideal place to invest -- our stable rule of law, strong protections for intellectual property, research institutions, vibrant supply chains, proximity to large consumer markets and our thriving energy sector. To get long term investment back where it should be, you need to do your part, and we need to do ours.”
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“If we take the right steps, our economy will be primed to take advantage of the next innovation. Doing so will require an engaged American workforce, a business sector investing in America, and a government whose policies are aimed at the future and shared prosperity.”
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“While government can eliminate obstacles and provide important tools, the government is not what makes an economy. The private sector is the defining feature of our economy, and the joining of sound policy with a surging private sector will determine our economic future.”
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