State of the Union 2015: President Offers Evidence Middle-Class Economics Works

In his State of the Union speech, President Obama lists success in reduced deficits, education reform and rising wages.
9:03 | 01/21/15

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Transcript for State of the Union 2015: President Offers Evidence Middle-Class Economics Works
It begins what our economy. Seven years ago. Rebecca and Bennett are aware of Minneapolis. Were newly what's. She waited tables. He worked construction. The first child jet was on away. There were young. And in love in America. It doesn't get much better meant. If only we have known. Rebecca wrote to me less per. What was about to happen to the housing and construction. There's a crisis worsens men's business right up so we took what jobs he could find. Even if it kept him on the road for long stretches of time. Rebecca took out student lost in a role in community college. And retrain for new career. They sacrificed for each other. And slowly it paid off. They bought their first home. Get a second son Henry. Rebecca got a better job the medal race. Ben's back and construction. And home for dinner every night. It is amazing Rebecca roe. What you can bounce back from when you have to. We are a strong tight knit family who has made it through some very very hard times. We are a strong tight knit family. Was made it through some very very hard times. America. We're back and Ben's story is our store. They represented the millions who worked hard and scram and sacrificed and retool. You are the reason. But I ran for this office. You were the people I was thinking up six years ago today. In the darkest months of the crisis. By stood on the steps of this capitol and promised we would rebuild our economy on a new foundation. And it has been your resilience. Your effort. That has made it possible for our country to emerge strong. We believed we could reverse the tide of outsourcing and draw new jobs to our shores. And over the past five years our businesses have created more than eleven million new jobs. We believed we could reduce our dependence on foreign oil. And protect our plan. And today America is number one and oil and gas. America is number one in wind power. Every three weeks we bring on line as much solar power as we did in all of 2008. And thanks to lower gas prices. Fuel standards the typical family this year should save about 750 dollars at the pump. We believed we could repair our kids for more competitive world. And today our younger students have earned the highest math and reading scores on right. Our high school graduation rate has hit an all time high. More Americans finish college than ever before. We believe the 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. Producer credit card practices. And in the past year alone about ten million uninsured Americans finally gain the security of health cover. Which. And every step. We were told our goals were misguided. We're too ambitious. We were crushed jobs and explode deficits. Instead we've seen the fastest economic growth in over a decade. Our deficits cut by two thirds. They stock market that has doubled and health care inflation at its lowest rate. In fifty years. There's good news people. Murder displayed. Middle class economics works. Expanding opportunity works. And these policies will continue to work as long as politics don't get him away. We can't slow down businesses or Porter our economy at risk of government shutdowns are fiscal showdowns. We can't put the security of families at risk by taking away their health insurance or unraveling the new rules on Wall Street. Or re fighting past battles on immigration when we've got to fix. A broken system. And if a bill comes to mind does the tries to do any of these things I will feature what. Today thanks to a growing economy the recovery is touching more and more lives. Wages are finally starting to rise again. We know the more small business owners plan to raise their employees today than at any time since 2000 and so. But here's the thing. Those of us here tonight. We need to set our sights higher than just making sure government doesn't screw things up. The government doesn't halt the progress we're making. We need to do more than just do know tomorrow. Tonight. Together. Let's do more to restore the link between hard work and growing opportunity for every American. Because families Michael. We're backers still made our help. She and men are working as hard as ever. But they've had forgo vacations in the new car so that they can pay off student loans. And save for retirement. Friday night Pete's. That's a big splurge. Basic child care. Project and Henry cost more than their mortgage and almost as much as a year at the university of missile. Like millions of hardworking America. Rebecca isn't asking for hand. But she is asking that we look for more ways to help families get ahead. And in fact at every moment of economic change throughout our history. This country has taken bold action to adapt to new circumstances. And make sure everyone gets a fair shot. We set up worker protections. Social Security Medicare Medicaid. To protect ourselves from the harshest adversity. We give our citizens schools and colleges. Infrastructure. And the Internet. Tools they needed to go as far as their efforts in the dreams will take. That's what middle class economics it's. The idea that this country does best what everyone gets their fair shot. Everyone does their fair share. Everyone plays by the same set of rules. We don't just want everyone to share and America's success we want everyone to contribute. To our success.

This transcript has been automatically generated and may not be 100% accurate.

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