Obama: Divide Exists Between Washington, Citizens

President says biggest blow to economic confidence came from fights in Congress.
5:50 | 01/24/12

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Transcript for Obama: Divide Exists Between Washington, Citizens
Not recognize the people watching tonight -- have differing views about taxes and that. Energy and health care. But no matter what party they belong to him. I bet most Americans are thinking the same thing right about now. Nothing will get done in Washington this year. Or next year. Or maybe even miracle that. Because Washington is broken. Can you blame them for feeling a little -- The greatest blow to our confidence and in our economy last year didn't come from events beyond our control. It came from a debate in Washington over whether the United States. Would pay its bills are not. Who benefited from that fiasco. I've talked tonight about the deficit of trust between main street and Wall Street. But the divide between this city and the rest of the country is at least as bad. And it seems to get worse every year. Some -- has to do with the corrosive influence of money in politics. Sow together let's take some steps to fix -- Send me a bill. The -- insider trading by member of the congress I will sign it tomorrow. Any elected official from -- stocks and industries -- impact. Let's make sure people who bundle campaign contributions for congress can't lobby congress. And vice Versa. An idea that has bipartisan support. At least outside Washington. Some of what's broken have to do with the way congress does its business these days. A simple majority is no longer enough to get any night. Even routine business passed through the senate. Neither party has been blameless in these tactics. Now both parties should put an end to it. For starters. I asked the senate to pass. A simple rule. That all judicial and public service. Nominations received a simple up or down vote within ninety days. The executive branch also needs to change. -- -- minutes inefficient. Outdated. This congress to grant me the authority to consolidate the federal bureaucracy. And our government -- later. Quicker and more responsive to needs the American people. Finally none of this. Can happen. Once we also lower the temperature in this time. We need and the notion that the two parties must be locked in a perpetual campaign of mutual destruction. The politics is about clinging to rigid ideologies. Instead of building consensus around common sense ideas. I'm a Democrat. But I believe what Republican Abraham Lincoln -- The government should do for people only what they cannot do better by themselves and no more. Why my education reform offers more competition and more control. For schools and states. That's why we're getting rid of regulations don't work. That's why our health care law relies on a -- private market not a government program. On the other hand even my Republican friends who complain most about government spending have supported. Federally financed roads and clean energy projects and federal offices for the folks back home. The point is we should all want a smarter. More effective government. -- -- we may not be able to bridge our biggest philosophical differences this year. We can make real progress. -- without this congress. I will keep taking actions that help the economy grow out. -- a lot more -- your help. Because when we act together. There's nothing the United States America can achieve.

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

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