The following are excerpts from Barack Obama's speech in Raleigh, N.C.
June 9, 2008

1) "...Such relief that can’t wait until the next President takes office. In January, well before the administration seemed to discover ordinary Americans were struggling, I called for a fiscal stimulus plan to get checks in the hands of hard-working families and seniors. Congress passed such a plan and the first checks are now arriving. But since then hundreds of thousands more people have lost their jobs, and so we must do more.

That’s why I’ve called for another round of fiscal stimulus, an immediate $50 billion to help those who’ve been hit hardest by this economic downturn – Americans who have lost their jobs, their homes, and are facing rising costs and cutbacks in state and local services like education and health care. We need to expand unemployment benefits and extend them for those who can’t find another job right away – especially since the long-term unemployment rate is nearly twice as high as it was during the last recession. And we must help the millions of homeowners who are facing foreclosure through no fault of their own..."

2) "...In contrast, I offered a proposal to crack down on mortgage fraud almost two years ago, and in this campaign I’ve called for the immediate creation of a $10 billion Foreclosure Prevention Fund to provide direct relief to victims of the housing crisis. We’ll also help those who are facing foreclosure refinance their mortgages so they can stay in their homes at rates they can afford. I’ll provide struggling homeowners relief by offering a tax credit to low- and middle-income Americans that would cover ten percent of their mortgage interest payment every year..."

3) "...I know how expensive this is from firsthand experience. At the beginning of our marriage, Michelle and I were spending so much of our income just to pay off our college loans. And that was decades ago. The cost of a college education has exploded since then, pricing hundreds of thousands of young Americans out of their dream every year, or forcing them to begin their careers in unconscionable debt. So I’ll offer this promise to every student as President – your country will offer you $4,000 a year of tuition if you offer your country community or national service when you graduate. If you invest in America, America will invest in you..."

http://www.nytimes.com/2008/06/09/us/politics/09transcript-obama.html?pagewanted=1&_r=1&adxnnlx=1213052881-xGKkQ8tjPqOxSb8mzdM6jw

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