Upbeat Obama says U.S. will revive past 'reckoning'

WASHINGTON - President Barack Obama addressed the Congress and an American people dealing with an economic crisis Tuesday night, promising to lead it from a dire "day of reckoning" to a brighter future. Obama asked politicians and the public to take on responsibility for hard choices and shared sacrifice.

"The time to take charge of our future is here," Obama declared, delivering his first address to a joint session of Congress.

Obama spoke directly to anxious Americans, "Tonight I want every American to know this: We will rebuild, we will recover, and the United States of America will emerge stronger than before."

"We are a nation that has seen promise and peril," he said."Now we must be that nation again."

The president said more monetary aid is needed to rescue banks, in addition to the $700 billion issued last year. Obama acknowledged the unpopularity of the gargantuan bailout for banks, but said getting credit moving to families and businesses would jump start the American economy.

In addition to aiding banks, Obama asked Congress to move quickly on legislation to overhaul outdated regulations on the nation's financial markets.

The main argument of his speech was that his economic revival plan has room for action on health insurance, education and alternative energy development. Obama also specified that his budget will create new incentives for teacher performance and education programs, as well as invest approximately $15 billion yearly in developing wind, solar and other energies.AP wire reports contributed to this article

To see President Obama's complete address, go to News 12 Interactive, Channel 612 on your iO digital cable box. The speech is located in the iO Extra category.

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