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00:06:477 sec.
Obama, Barack - President

Thank you, everybody. (Applause.) Thank you so much. Please, everybody have a seat. Have a seat.

00:06:5420 sec.
Obama, Barack - President

Thank you, Joe, for the outstanding work you’re doing on behalf of the American people every day. I want to thank all the members of my Cabinet and...

00:07:149 sec.
Obama, Barack - President

I’m glad to see that everybody has recovered from the wild time we had last night. (Laughter.) It was wonderful to have all of you here.

00:07:2338 sec.
Obama, Barack - President

And I always look forward to this event because governors are at the front line of America’s recovery. You see up close what’s working, what’s...

00:08:0132 sec.
Obama, Barack - President

I first addressed this group three years ago and it was the moment, as Joe mentioned, when the economy was in a freefall. Some of you were just coming...

00:08:3330 sec.
Obama, Barack - President

Today there's no doubt that enormous challenges remain. But the fact of the matter is that over the last two years American businesses have created...

00:09:0331 sec.
Obama, Barack - President

That means we’ve got to strengthen American manufacturing so that more and more good jobs and products are made here in America. It means that we’ve...

00:09:3428 sec.
Obama, Barack - President

No issue will have a bigger impact on the future performance of our economy than education. In the long run it’s going to depend -- determine whether...

00:10:0234 sec.
Obama, Barack - President

Today, the unemployment rate for Americans with at least a college degree is about half the national average. Their incomes are about twice as high...

00:10:3643 sec.
Obama, Barack - President

Now, in the last three years, the good news is we’ve made some important progress, working together. We’ve broken through the traditional stalemate...

00:11:1924 sec.
Obama, Barack - President

We’ve also worked with all of you –- Democrats and Republicans –- to try to fix No Child Left Behind. We said that if you’re willing to set...

00:11:4336 sec.
Obama, Barack - President

I believe education is an issue that is best addressed at the state level. And governors are in the best position to have the biggest impact. I realize...

00:12:1935 sec.
Obama, Barack - President

Nothing more clearly signals what you value as a state than the decisions you make about where to invest. Budgets are about choices. So today I’m...

00:12:5432 sec.
Obama, Barack - President

Now, there are two areas in education that demand our immediate focus. First, we’ve just got to get more teachers into our classrooms. Over the...

00:13:2641 sec.
Obama, Barack - President

Other countries are doubling down on education and their investment in teachers -- and we should, too. And each of us is here only because at some...

00:14:0731 sec.
Obama, Barack - President

Now, we want to help you everyplace that we can. At the federal level, we’ve already provided billions of dollars in funding to help keep hundreds...

00:14:389 sec.
Obama, Barack - President

Congress still is in a position to do the right thing. They can keep more teachers in the classroom, but you’ve got to keep the pressure up on them...

00:14:4737 sec.
Obama, Barack - President

The second area where we have to bring greater focus is higher education. The jobs of the future are increasingly going to those with more than a high...

00:15:2439 sec.
Obama, Barack - President

We all want Americans getting those jobs of the future. So we’re going to have to make sure that they’re getting the education that they need....

00:16:0333 sec.
Obama, Barack - President

Now, for students that are ready for college, we've got to make sure that college is affordable. Today, graduates who take out loans leave college...

00:16:3642 sec.
Obama, Barack - President

So this is a major problem that must be fixed. I addressed it at the State of the Union. We have a role to play here. My grandfather got a chance...

00:17:1822 sec.
Obama, Barack - President

So my administration has tried to do our part by making sure that the student loan program puts students before banks, by increasing aid like the Pell...

00:17:4026 sec.
Obama, Barack - President

Congress still needs to do its part by, first of all, keeping student interest rates low. Right now, they are scheduled to double at the end of July...

00:18:0628 sec.
Obama, Barack - President

But it's not enough to just focus on student aid. We can't just keep on, at the federal level, subsidizing skyrocketing tuition. If tuition is going...

00:18:3432 sec.
Obama, Barack - President

That means colleges and universities are going to have to help to make their tuition more affordable. And I’ve put them on notice -- if they are...

00:19:0620 sec.
Obama, Barack - President

Over two-thirds of students attend public colleges and universities where, traditionally, tuition has been affordable because of state investments....

00:19:2621 sec.
Obama, Barack - President

But more than 40 states have cut funding for higher education over the past year. And this is just the peak of what has been a long-term trend in reduced...

00:19:4712 sec.
Obama, Barack - President

So my administration can do more, Congress can do more, colleges have to do more. But unless all of you also do more, this problem will not get solved....

00:19:598 sec.
Obama, Barack - President

Jack O’Malley -- where’s Jack -- Martin. Where’s Martin? Sorry. I was --

00:20:072 sec.
GOVERNOR O'MALLEY, -

I thought my son was right here. (Laughter.)

00:20:091 sec.
Obama, Barack - President

Right, right, right.

00:20:1022 sec.
Obama, Barack - President

Martin in Maryland is doing some outstanding work on this front. He worked with the legislature to keep tuition down by controlling costs and cutting...

00:20:3221 sec.
Obama, Barack - President

We can’t allow higher education to be a luxury in this country. It’s an economic imperative that every family in America has to be able to afford....

00:20:5325 sec.
Obama, Barack - President

So let me wrap up by saying a few weeks ago I held, right here in this room and in the adjoining room, one of my favorite events and that is the White...

00:21:1828 sec.
Obama, Barack - President

We had a group of kids from Texas, young Latino women, who came from the poorest section of Texas and yet were winning rocket competitions. And they...

00:21:4637 sec.
Obama, Barack - President

You had a young woman who was from Long Island, had been studying mussels and wanted to be an oceanographer, and won the Intel Science Award while she...

00:22:2341 sec.
Obama, Barack - President

There was a kid -- the kid who actually got the most attention was a young man named Joey Hudy of Arizona. That’s because Joey let me fire off a...

00:23:0415 sec.
Obama, Barack - President

Under his name on each card was a simple motto: “Don’t be bored, do something.” Don’t be bored, do something. Don’t be bored, make something.

00:23:1925 sec.
Obama, Barack - President

All across this country there are kids like Joey who are dreaming big, and are doing things and making things. And we want them to reach those heights....

00:23:4414 sec.
Obama, Barack - President

So this is going to be something that I want to collaborate with all of you on. If you’ve got ideas about how we can make our education system work...

00:23:581 sec.
Obama, Barack - President

Thank you very much, everybody. (Applause.)

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