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the belief that our nation s best days are not over, they are still to come. no other country, no other people, no other society s starts from such a position of strength and advantage as we do. by making the right decisions and adopting the necessary reforms, we can usher in a new era of economic prosperity and extend its benefits to all americans. i think you can tell i m basically an optimistic fellow. so let me tell you what i worry about most. i worry that for the first time in our history, we re in a situation where america is taking from the young in order to support the old. we re doing this by continuing to ignore the entitlement crisis. by piling up trillions and trillions of dollars of new debt. by trapping so many of our young people in failing schools, and therefore denying them the fair shot of the american dream. the promise of america has always been that the older generation will leave to the young a stronger, better and more hopeful country. this is a ....
president and chief economist. where is bruce johnston? well, bruce can t be with us this time. he was so engaged and busy in what he was doing, he ruptured his appendix. and he s doing very well. he s on the mend. you ll see him here next time, and you ll be able to talk to him in the next few days. but he sends his best and has challenged marty to do as well as he could. we ll see. there are also a number of our senior advisers here who can help us our staff guys can help us with any questions that get particularly complicated. you know, as i said in the speech, the chamber believes that the american economy is improving and that it s gaining momentum. we expect, as i said, growth to accelerate to about 3% by the end of this year. but doesn t mean at all that we re out of the woods. 21 million americans are still unemployed, underployed or stopped looking for work. american workers have not seen substantial increases in pay in recent years. obamacare, dodd-frank a ....
promotion authority and then moving forward on the free trade agreements that we have underway. second by accelerating the energy revolution with millions and millions of americans to work. and it s bringing manufacturing back to the u.s. and if you ask me some questions about that, we have a lot of things to tell you. and the passage of common sense immigration reform will clearly add jobs. it won t at all take away jobs. it ll provide a lot of innovation and investment. monetizing the regulatory system and informing government process, that s an ongoing issue, but i think we can make some progress there. and getting our fiscal house in order is absolutely critical to us. by the way, you heard me talk about all that entitlement stuff. there s a series of charts on your place that make it crystal clear. they re not our charts. they re charts provided by the government of the united states of america. we have to also address the flaws in obamacare. it s a mass itax bill, ....
of the opportunities we have to expand the economic pie. and then we must help those who are struggling by ensuring they have the educational skills, the incentives and the opportunity to share in that prosperity. many other nation haves stumbled along the path of redistribution and government dependency. they have promised equality of outcome. and there is a cost that they followed that was doomed to fail. what would we ever want why would we ever want to go down that road? why would we want to follow those people to a course that you can look out in europe america s promise is one of equal opportunity, not outcome. the real challenge is how to give those who have been left out of the real chance to choose their own path and rise on their own efforts, the help that they need. economic growth is absolutely critical. but it is not a panacea. i ve talked in positive terms about america s energy revolution. well, we need a positive revolution in american education and ....
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