00:00:04

CRITICIZED FOR PUBLIC AND CANDIDATES FOR THEIR ECONOMIC PROPOSALS. THIS IS 40 MINUTES. HILLARY CLINTON: THANK YOU, WOW. I AM SO EXCITED TO BE HERE. I APPRECIATE A SHORT TOUR I JUST HAD AND THE INFORMATION THAT I WAS GIVEN. ...

Show Full Text Show Less Text
00:01:24

I WANT TO THANK DETROIT MANUFACTURING SERVICES FOR WELCOMING US HERE TODAY. I WANT TO THANK THEM ESPECIALLY FOR GIVING SO MANY HARD-WORKING PEOPLE THE CHANCE TO GET -- MAKE A GOOD LIVING WITH A GOOD JOB WITH BENEFITS, AND UNION REPRESENTATION. IT ALL AS A -- ADDS UP. [APPLAUSE] I WANT TO THANK THE CEO OF DMS. I WANT TO ACKNOWLEDGE THIS IS THE LARGEST WOMAN OWNED BUSINESS IN MICHIGAN. [APPLAUSE] AND ONE OF THE LARGEST NATIVE AMERICAN OWNED BUSINESSES IN AMERICA. [APPLAUSE] IT IS ALSO GREAT TO BE HERE WITH SO MANY OF MY FRIENDS, MY FORMER COLLEAGUES. I AM THRILLED TO BE IN DETROIT. I WANT TO THANK THE MAYOR. WHERE IS THE MAYOR? THANK YOU, MAYOR DUGGAN, FOR EVERYTHING YOU'RE DOING. I WANT TO THANK SENATOR DEBBIE STEVAN NOW, MY FRIEND AND COLLEAGUE. CONGRESSMAN JOHN CONYERS, HE HAS THAT RED JACKET ON. YOU CAN SEE HIM. CONGRESSWOMAN BRENDA LAWRENCE, THANK YOU. MY LONGTIME FRIEND, CONGRESSWOMAN EDDIE DINGLE. -- DEBBIE DINGELL. AND OF COURSE I WANT TO RECOGNIZE A LEGEND, YOU MAY THINK I AM TALKING ABOUT HIS STORIED CAREER IN THE CONGRESS, OF COURSE I AM. I WANT YOU TO KNOW THAT FORMER CONGRESSMAN, JOHN DINGELL IS A SOCIAL MEDIA SENSATION. [APPLAUSE] HE IS THE KING OF TWITTER. AND I AM SO PLEASED HE IS HERE TODAY. I WANT TO THANK FORMER GOVERNOR, JIM BLANCHARD AND PLAN -- JANET BLANCHARD. [APPLAUSE] WE HAVE SOME GREAT UNION LEADERS HERE. THE FORMER PRESIDENT OF THE UAW, BLOCKING. THANK YOU FOR BEING HERE. -- BOB KING. THANK YOU FOR BEING HERE. WE HAVE MARCH ROBINSON. -- MARGE ROBINSON. AND AL GARRETT, THANK YOU ALL FOR BEING WITH ME. I DELIBERATELY CHOSE TO COME TO DETROIT, AND TO COME TO THIS COMPANY TO TALK ABOUT JOBS. BECAUSE I WANT MORE PEOPLE TO SEE WHAT IS HAPPENING IN SOUTHWEST DETROIT AND MIDTOWN, AND EASTERN MARKET. NEW BUSINESSES ARE OPENING. FAMILIES ARE MOVING IN. THE STREETLIGHTS ARE ON AGAIN. THE BUSES ARE RUNNING. THERE IS A PALPABLE FEELING OF PRIDE AND COMMUNITY. WE HAVE TO SPREAD THE ECONOMIC REVITALIZATION TO ALL OF DETROIT'S NEIGHBORHOODS. YOU CAN DO IT, BECAUSE LOOK HOW FAR YOU HAVE COME. THANKS TO YOUR HARD WORK, THE AUTO INDUSTRY JUST HAD ITS BEST YEAR EVER. [APPLAUSE] INNOVATION IS ON THE RISE BETWEEN THE CARMAKERS AND SUPPLIERS, THE CLEAN ENERGY SECTOR, THE DEFENSE COURT ORDER, HIGH-TECH FIRMS IN ANN ARBOR, CUTTING EDGE DESIGN HAPPENING IN GRAND RAPIDS, THE NEXT GENERATION OF ENGINEERS GETTING TRAINED UP AND SO MUCH ELSE, YOUR HARD WORK, DOING WHAT YOU HAVE ALWAYS DONE -- MAKING AND DESIGNING THINGS THAT AMERICA NEEDS AND THE WORLD ONCE IS ONCE AGAIN GOING STRONG. I AM SO GRATEFUL TO EVERYBODY WHO PLAYED A PART IN THAT. LAST NIGHT DETROIT PLAYED A DIFFERENT ROLE, DIDN'T? HOSTING THE REPUBLICAN PRESIDENTIAL -- I DON'T KNOW WHAT TO CALL IT -- I GUESS, DEBATE. THERE WERE SO MANY INSULTS, BACK-AND-FORTH, IT WAS HARD TO KEEP TRACK. THE BIGGEST INSULT OF ALL WAS TO THE AMERICAN PEOPLE. THE ECONOMY -- [APPLAUSE] THE ECONOMY WHICH SHOULD BE AT THE TOP OF ANY LIST THAT ANYBODY RUNNING FOR PRESIDENT HAS WAS BASICALLY AN AFTERTHOUGHT. MAYBE THAT IS BECAUSE ALL OF THE REPUBLICAN CANDIDATES SUPPORT THE SAME FAILED POLICIES. CUT TAXES FOR THE RICH. GET OUT OF THE WAY OF CORPORATIONS. DON'T RAISE THE MINIMUM WAGE, IN FACT THE FRONT RUNNER SAYS HE THINKS WAGES ARE TOO HIGH IN THE COUNTRY. AND FLASH GOVERNMENT TO THE BONE -- SLASH GOVERNMENT TO THE BONE. NOTE PRICE, THEY ALL CRITICIZED OR OPPOSED THE OTHER RISK. -- THE AUTO RESCUE. WHAT WAS MISSING LAST NIGHT WAS AN HONEST RECKONING WITH THE MOST IMPORTANT ECONOMIC CHALLENGE. HOW DO WE RAISE INCOMES AND CREATE GOOD JOBS OF THE FUTURE? ON THE DEMOCRATIC SIDE, WE AGREE ON A NUMBER OF THINGS. I DON'T THINK WE CAN ANSWER THAT QUESTION BY RINA -- REFIGHTING BALLOT -- BATTLES FROM 20 YEARS AGO. ANYONE RUNNING FOR PRESIDENT OWES IT TO YOU TO COME UP WITH REAL IDEAS. NOT AN IDEOLOGY, NOT AN OLD SET OF TALKING POINTS, BUT A CREDIBLE STRATEGY DESIGNED FOR THE WORLD WE LIVE IN NOW. THAT IS EXACTLY WHAT I AM HERE TODAY TO DO. [APPLAUSE] YOU KNOW IN AMERICA IF YOU WORK HARD AND YOU DO YOUR PART, YOU ARE SUPPOSED TO BE ABOUT TO GET AHEAD AND STAY AHEAD. NO MATTER WHO YOU ARE, OR WHERE YOU STARTED OUT. THAT IS THE BASIC BARGAIN THAT MADE THIS COUNTRY GREAT. BUT FOR MANY AMERICANS, THAT NO LONGER HOLDS TRUE. TOO MANY BARRIERS HOLD BACK OUR FAMILIES. OUR ECONOMY, AND BECAUSE OF THAT, OUR COUNTRY. INSTEAD OF GOOD PAYING JOBS, MILLIONS OF AMERICANS ARE STUCK IN LOW-WAGE WORK. CORPORATE PROFITS AND CEO PAY KEEPS RISING. PAYCHECKS FOR WORKING FAMILIES HAVE BARELY BUNCHED. -- BUDGED. INSTEAD OF AFFORDABLE COLLEGE WE HAVE SKYROCKETING TUITION AND MILLIONS WEIGHED DOWN BY STUDENT DEBT. MORE WOMEN THAN EVER ARE THE MAIN BREADWINNERS, OR CO-BREADWINNERS, BUT THEY STILL DO NOT GET EQUAL PAY. AND -- [APPLAUSE] AND THE UNIONS THAT HELP BUILD OUR COUNTRY, AND THE MIDDLE CLASS ARE UNDER CONCERTED ATTACK. IT IS NO SURPRISE THAT AMERICANS ARE ANGRY, IS IT? FOLKS WORK HARD ALL DAY, AND THEN LIE AWAKE ALL NIGHT TRYING TO FIGURE OUT HOW IN THE WORLD THEY ARE GOING TO PAY FOR THEIR KIDS COLLEGE, OR A NEW ROOF, OR MAKING SURE MOM GETS THE CARE SHE NEEDS. FOR SOME PARENTS, IT IS EVEN WORSE. THEY HAVE TO WORRY ABOUT WHETHER THE WATER THEIR KIDS DRINK IS POISONOUS. LIKE THE FAMILY'S INFLUENCE -- FAMILIES IN FLINT. OR ABOUT THEIR SCHOOLS THAT ARE CRUMBLING AND RODENT INFESTED LIKE MANY HERE IN DETROIT. THAT IS NOT THE WAY IT IS SUPPOSED TO BE IN AMERICA. [APPLAUSE] SOME OF THE BLAME FOR THESE CHANGES IN THE ECONOMY RESTS WITH BIG, HISTORIC FORCES LIKE TRADE AND TECHNOLOGY. WALL STREET AND SOME OF OUR CORPORATIONS ALSO HOWEVER THERE A LOT OF -- HOWEVER, BEAR A LOT OF SPOTS ABILITY. TOO MANY IN THE FINANCIAL INDUSTRY FORGOT THAT THE PURPOSE OF THINKING IS TO GET CAPITAL TO MAKE STREET -- TO MAIN STREET TO INVEST IN NEW BUSINESSES, OR EXPAND SUCCESSFUL ONES LIKE THIS OF ANY SIZE, AND TO INCREASE THE OPPORTUNITY FOR HOMEOWNERSHIP AND UNITY DEVELOPMENT. -- COMMUNITY DEVELOPMENT. IT IS NOT TO CREATE HUGE RICHES FOR A SELECT FEW AT THE EXPENSE OF EVERYONE ELSE. MEANWHILE, TOO MANY LEADERS IN CORPORATE AMERICA ARE PRIORITIZING THEIR SHORT-TERM STOCK PRICE OVER THEIR WORKERS AND THEIR COMMUNITIES. WE CANNOT FORGET THE DAMAGE CAUSED BY TRICKLE DOWN ECONOMICS, AND RIGHT WING IDEOLOGUES WHO BELIEVE IN WEAKENING GOVERNMENT OWNED -- OVERSIGHT. MASSIVE TAX CUTS FOR THE RICH, RIPPING AWAY TO SAFETY NET, AND BREAKING THE BACKS OF UNIONS. AS DETROIT PROVES, EVERY DAY, WHAT HAS BEEN BROKEN CAN BE REBUILT. STRONGER THAN BEFORE. [APPLAUSE] YOU KNOW THROUGHOUT THIS CAN -- CAMPAIGN I HAVE SAID THAT CREATING GOOD PAYING JOBS, AND RAISING INCOME IS THE DEFINING ECONOMIC CHALLENGE OF OUR TIME. AND THAT IN ORDER TO GET WHERE I WANT US TO GO WE NEED GROWTH THAT IS STRONG, FAIR, AND LONG-TERM. THAT IS WHY WE NEED A NEW BARGAIN FOR THE NEW ECONOMY. A NEW BARGAIN TO ENSURE THAT THE JOBS OF THE FUTURE ARE GOOD PAYING, AMERICAN JOBS. THE KIND THAT PROVIDE BOTH GOOD INCOME, AND THE DIGNITY, PRIDE, AND SINCE THE PURPOSE THAT COME WHEN YOU HAVE SOMETHING TO LOOK FORWARD TO WHEN YOU GET UP IN THE MORNING. THE PEOPLE THAT I MET AS I WAS WALKING HERE WITH ED WERE ALL PEOPLE WHO FIT THAT DESCRIPTION. PROUD OF WHAT THEY ARE DOING. GRATEFUL FOR THE OPPORTUNITY TO BE PART OF A TEAM THAT RESPECTS ONE ANOTHER. LOOKING TO CONTINUE THE GROWTH THAT THIS COMPANY HAS ENJOYED. THAT IS THE KIND OF JOBS WE WANT. YOU ARE CREATING THEM AGAIN IN MICHIGAN. SOME OF THE MOST EXCITING, TECHNOLOGICAL BREAKTHROUGHS ARE HAPPENING RIGHT HERE. NOT IN CHINA. NOT IN GERMANY. BUT IN MICHIGAN. [APPLAUSE] YOU USED TO MAKE BE 24 BOMBERS AT WILLOW RUN. NOW YOU ARE DEVELOPING DRIVERLESS CARS. THAT MAKE WIND TURBINES POSSIBLE . CHEVY IS MAKING ELECTRIC CARS AND USING CLEAN ENERGY TO DO IT. CHINA LET HAS CREATED MORE THAN 500 JOBS, AND THEY CORNERED THE MARKET ON WATCHES FOR PRESIDENT S. BOTH MY HUSBAND AND PRESIDENT OBAMA LOVE THEIR SHINOLAS. MICHIGAN PROVES EVERY DAY THAT AMERICAN WORKERS ARE THE BEST IN THE WORLD. ALL THEY NEED IS A FAIR CHANCE ON A FAIR PLAYING FIELD. THAT IS WHY WE NEED THIS NEW BARGAIN. HERE IS WHAT IT SHOULD BE. FIRST, CORPORATIONS HAVE TO DO RIGHT BY THEIR COMMUNITIES, AND OUR COUNTRY. CORPORATIONS BENEFIT IN SO MANY WAYS FROM BEING RIGHT HERE IN THE UNITED STATES. TOO OFTEN THIS RELATIONSHIP FEELS LIKE A ONE RATES -- ONE WAY STREET. TOO MANY ARE NOT HOLDING UP THEIR END OF THE BARGAIN. THEY DO NOT RECOGNIZE THAT ONE OF THE BIGGEST ASSETS ON THEIR BALANCE SHEET IS AMERICA. PART OF THE PROBLEM IS A CASINO CULTURE ON WALL STREET THAT FOR TOO LONG PUT SHORT-TERM SPECULATION AHEAD OF LONG-TERM STRENGTH. IT ASKS TAXPAYERS TO HOLD THE BAG ANY BETS GO BAD. WE NEED TO MAKE SURE WALL STREET NEVER THREATENS RAIN STREET AGAIN -- MAIN STREET AGAIN. [APPLAUSE] AS I HAVE SAID MANY TIMES, NO BANK CAN BE TOO BIG TO FAIL. NO EXECUTIVE TOO POWERFUL TO JAIL. [APPLAUSE] BUT -- BUT WE ALSO HAVE TO UNDERSTAND HOW BAD BEHAVIOR ON WALL STREET AND PRESSURE TO MEET QUARTERLY EARNINGS EXPECTATIONS CONTRIBUTES TO BAD BEHAVIOR ACROSS CORPORATE AMERICA. LOOK AT COMPANIES LIKE NABISCO, LAYING OFF 600 WORKERS IN CHICAGO, AND MOVING PRODUCTION TO MEXICO. EVEN THOUGH THE COMPANY HAS A LONG -- HAS LONG RECEIVED TAX BREAKS FROM THE STATE OF ILLINOIS. THEY HAVE NO PROBLEM TAKING TAXPAYER DOLLARS WITH ONE HAND, AND GIVING OUT PINK SLIPS WITH THE OTHER. LOOK AT THE GROWING NUMBER OF COMPANIES MOVING THEIR HEADQUARTERS OVERSEAS JUST SO THEY CAN AVOID PAYING THEIR FAIR SHARE OF TAXES HERE AT HOME. ONE COMPANY DOING THAT RIGHT NOW IS CALLED JOHNSON CONTROL, THEY MAKE CARPARKS -- CARP PARTS/ . THE ACTUALLY LOBBIED FOR AN BENEFITED FROM THE AUTO RESCUE OF 2008. THEY WENT TO WASHINGTON WITH EVERYONE ELSE AND ASKED. FOR HELP. THE REPUBLICANS SAID, NO, WE WILL NOT HELP YOU. JOBS AND FAMILIES ARE AT STAKE. EVERYONE HERE, ALL OF US TAXPAYERS, WE HELPED TO SAVE JOHNSON CONTROLS. ON THEIR WEBSITE, THEY TALK ABOUT THEIR CONTRACTS WITH THE FEDERAL GOVERNMENT. THEY SAY THAT KEEPING THE COUNTRY SAFE AND PROSPEROUS IS, AND I QUOTE, THE PATRIOTIC THING TO DO. I HOPE THEY DO THE PATRIOTIC THING AND STAY IN AMERICA. AND PAY THE TAXES THAT THEY OH FOR EVERYTHING WE -- THAT THEY OWE FOR EVERYTHING WE HAVE DONE FOR THEM. [APPLAUSE] LOOK, I AM NOT INTERESTED IN CONDEMNING WHOLE CATEGORIES OF BUSINESSES, OR THE ENTIRE PRIVATE SECTOR, OF COURSE NOT. I WANT TO SEND A CLEAR MESSAGE TO EVERY BOARDROOM AND EXECUTIVE SUITE. IF YOU CHEAT YOUR EMPLOYEES, YOU EXPLOIT CUSTOMERS, YOU POLLUTE THE ENVIRONMENT, OR RIP OFF TAXPAYERS, WE WILL HOLD YOU ACCOUNTABLE. THIS COUNTRY HAS GIVEN YOU SO MUCH. [APPLAUSE] IF YOU DESERT AMERICA, YOU WILL PAY A PRICE. DO THE RIGHT THING -- INVEST IN THE WORKERS, AND YOUR COUNTRY'S FUTURE, WE WILL STAND WITH YOU. HERE'S HOW IT SHOULD WORK, TO DISCOURAGE BAD BEHAVIOR, WE WILL MAKE COMPANIES PAY FOR WHAT ARE CALLED INVERSIONS UNDER THE TAX CODE. WHICH MEANS THEY PRETEND TO SELL THEMSELVES TO ACCOMPANY OVERSEAS, AND THEN THEY PRETEND TO MOVE THEIR HEADQUARTERS OVERSEAS. I CALL IT A PER VERSION UNDER THE TAX CODE IT IS CALLED AN IN VERSION. WE WILL MAKE YOU PAY FOR THAT WITH A NEW EXIT TAX. IF A COMPANY LIKE NABISCO OUTSOURCES AND SHIPS JOBS OVERSEAS WE WILL MAKE YOU GET BACK THE TAX BREAKS YOU RECEIVED HERE IN AMERICA. IF YOU'RE NOT GOING TO INVEST IN US, WHY SHOULD TAXPAYERS INVEST IN YOU. [APPLAUSE] LET'S TAKE THAT MONEY AND PUT IT TO WORK IN THE COMMUNITIES THAT ARE BEING LEFT BEHIND. DOING COURAGE GOOD BEHAVIOR, LET'S ENACT POLICIES THAT PROMOTE LONG-TERM INVESTMENTS, LIKE CAPITAL GAINS TAXES THAT ONLY SCALE DOWNWARD FOR TRULY MULTITIER INVESTMENTS -- MULTIYEAR INVESTMENTS, BUT ARE HIGHER FOR SHORT-TERM. LET'S PROMOTE INSHORE INNOVATION AND INVESTMENT WITH NEW TAX CREDITS THAT MAKE IT PROFITABLE TO TAKE THE HIGH ROAD RATHER THAN THE LOW ROAD. LIKE MICHIGAN LADDER COMPANY, WHICH HAS BEEN OPERATING FOR OVER A CENTURY. THEY HAVE STOPPED BUYING FIBERGLASS LADDERS FROM SUPPLIERS IN CHINA, AND STARTED MAKING THEM HERE IN MICHIGAN. I KNOW IT MADE MORE FINANCIAL SENSE. WE HAVE GOT TO HELP OTHER COMPANIES DISCOVER WHAT THEY CAN DO AS WELL. I AM NOT ASKING CORPORATIONS TO BE CHARITABLE, ALTHOUGH THAT IS IMPORTANT. I AM ASKING CORPORATIONS TO REALIZE THAT WHEN AMERICANS PROSPER, THEY PROSPER AS WELL. THE IDEA OF CORPORATE PATRIOTISM MIGHT SOUND -- THE SMART THING TO DO AS WELL. THAT LEAVES TO THE SECOND PART OF THE NEW BARGAIN, COMPANIES WILL HAVE TO START TREATING WORKERS LIKE ASSETS TO BE INVESTED IN, NOT COST TO BE CUT. [APPLAUSE] LOOK AT WHAT IS HAPPENING, THESE DAYS ARE BIGGEST COMPANIES RETURN EIGHT OR NINE OUT OF EVERY $10 THEY EARN DIRECTLY BACK TO SHAREHOLDERS. EITHER IN THE FORM OF DIVIDENDS OR STOCK BUYBACKS. THEY ARE ALSO -- MANY OF THEM SITTING ON HUGE CASH RESERVES. OFTEN STASHED IN FOREIGN TAX HAVENS. THAT IS MONEY THEY ARE NOT USING TO TRAIN THEIR WORKERS, OR GIVE THEM A RAISE. EVEN WORSE, THE LINK BETWEEN RISING PRODUCTIVITY AND RISING PAY HAS SNAPPED. PRODUCTIVITY GOES UP STILL, PROFITS GO UP, EXECUTIVE PAY GOES UP, STOCK PRICES GO UP, BUT WORKERS ARE BEING LEFT BEHIND. IN AN ECONOMY THAT IS 70% CONSUMPTION, THAT IS A BIG PROBLEM. IT IS NOT HAVE TO BE THAT WAY. IN THE 1990'S, WHEN WE HAD ANOTHER DEMOCRATIC PRESIDENT THAT I THINK DID A GOOD JOB. [APPLAUSE] IN THE 1990'S -- WHEN PRODUCTIVITY ROSE, THE TYPICAL FAMILY INCOME ALSO ROSE BY $10,000. SOME OF YOU REMEMBER THAT. IN FACT AFRICAN-AMERICAN FAMILY INCOME WENT UP AS A HIGHER PERCENTAGE BECAUSE THERE WERE SO MANY JOBS AND PEOPLE REALLY MAKING PROGRESS. IT IS GOOD FOR EVERYONE WHEN WORKERS'S INCOMES GO UP. AMERICA GROWS WITH YOUR PAYCHECK ROSE. -- WHEN YOUR PAYCHECK GROWS. THIS IS -- MOSTLY JUST HELPS WEALTHY PEOPLE. FOR MANY IN THE HANDS OF WORKING PEOPLE HELPS EVERYONE, INCLUDING BUSINESSES. THAT IS WHY WE SHOULD RAISE THE FEDERAL MINIMUM WAGE. [APPLAUSE] AND FIGHT FOR EVEN HIGHER MINIMUM WAGES IN PLACES WHERE THAT MAKE SENSE. -- MAKES SENSE. IT IS WHY WE SHOULD PROVIDE INCENTIVES FOR COMPANIES THAT INVEST IN TRAINING FOR EMPLOYEES, WHICH CAN LEAD TO HIGHER PAYING JOBS. WE SHOULD CREATE A TAX CREDIT FOR EMPLOYERS THAT SHARE PROFITS WITH THEIR WORKERS. AUTOMAKERS HERE IN DETROIT KNOW THE VALUE OF TRANSPARENT PROFIT-SHARING PLANS THAT COME ON TOP OF IT WAGES. -- A GOOD WAY TO. -- GOOD WAGES. WE HAVE TO TAKE ON A GOOD REASON WHY PAYCHECKS HAVE NOT MOVED AND GOOD JOBS ARE SCARCE. THAT IS THE DIMINISHING POWER OF LABOR UNIONS. [APPLAUSE] AS YOU KNOW WELL, UNIONS HELPED TO BRING BACK THE AUTO INDUSTRY. [APPLAUSE] NO ONE GAVE MORE TO DETROIT AND MICHIGAN DURING THESE PAST FEW YEARS. UNION MEMBERS BUILD THE CITY'S, -- BUILD THE CITIES, KEEP THE LIGHTS ON, AND CARE FOR OUR CHILDREN. THE RELENTLESS ASSAULT ON LABOR, AND THE EROSION OF WORKER BARGAINING POWER HAS NOT ONLY AFFECTED WORKER PAY, IT IS ALSO A KEY REASON WHY OVERTIME RULES HAVE NOT BEEN UPDATED IN DECADES. AND WHY FAMILY-FRIENDLY POLICIES LIKE PAID LEAVE, EARNED SICK DAYS, AND FAIR SCHEDULING HAVE NOT BEEN WIDELY EMBRACED. [APPLAUSE] -- INEQUALITY HAS BEEN WIDENED BY THE DECLINES OF UNIONS AS WELL. WE DID STAND UP TO REPUBLICANS IN WASHINGTON AND THE HOUSE IS LIKE HERE IN MICHIGAN, WHO DO EVERYTHING THEY CAN. [APPLAUSE] TO REDUCE UNION POWER. WE NEED TO STAND UP FOR WORKERS. WHEN UNIONS ARE STAND -- STRONG, FAMILIES ARE WRONG AND AMERICA'S WRONG -- AND AMERICA IS STRONG. [APPLAUSE] THE THIRD PART OF THE NEW BARGAIN IS GOVERNMENT STEPPING UP TOO. TOO OFTEN WASHINGTON ONLY WORKS FOR THE WEALTHY AND THE WELL-CONNECTED. YOU KNOW IT, I KNOW IT, EVERYONE KNOWS IT. LIKE WHAT REPUBLICANS IN CONGRESS THAT WHEN THEY CUT OFF UNEMPLOYMENT BENEFITS ARE PEOPLE LAID OFF IN THE GREAT RECESSION WHO WERE STILL WORKING, -- LOOKING WORK. -- LOOKING FOR WORK. DARWIN CANDIDATE THOMAS TRILLIONS OF DOLLARS IN TAX CUTS TO GO MOSTLY TO THE RICH. THIS NEEDS TO CHANGE. AMERICAN INTEREST HAVE TO COME BEFORE SPECIAL INTEREST. AMERICAN WORKERS AND JOBS HAVE TO COME FIRST. ONE AREA WHERE WE HAVE GOT ME BALANCE WRONG OVER THE YEARS IS TRADE. THE GOOD NEWS IS, AMERICA'S EXPORTS ARE UP 40% UNDER PRESIDENT OBAMA. [APPLAUSE] I WAS PROUD TO WORK WITH HIM ON THAT WHEN I WAS PRECARIOUS -- I WAS PROUD TO WORK WITH HIM ON THAT WHEN I WAS SECRETARY OF STATE. THERE ARE REAL BENEFITS. LOOKING BACK OVER THE LAST DECADE, AS GLOBALIZATION PICKED UP STEAM, THERE IS NO DOUBT THAT THE BENEFITS OF TRADE HAVE NOT BEEN AS WIDELY ENJOYED AS MANY PREDICTED. ESPECIALLY WHEN THE BUSH ADMINISTRATION FAILED TO ENFORCE OUR TRADE LAWS OR STAND UP TO CHINA. CORPORATIONS MAY HAVE ONE GOT -- WON, BUT MANY WORKERS LOST. THEY LOST JOBS, THEIR SENSE OF PURPOSE. CHEAPER GOODS ARE NO SUBSTITUTE. AMERICA HAS TO DO BETTER. THERE ARE PEOPLE IN BOTH PARTIES WHO THINK WE CAN SOMEHOW SHUT OURSELVES OFF NOR -- OFF FROM THE WORLD. EVEN IF THE UNITED STATES NEVER SIGNED ANOTHER TRADE DEAL, GLOBALIZATION IS NOT GOING AWAY. OUR CHALLENGE IS TO ESTABLISH AND ENFORCE FAIR RULES SO OUR WORKERS COMPETE ON A LEVEL PLAYING FIELD, AND COUNTRIES DO NOT RACE TO THE BOTTOM ON LABOR, THE ENVIRONMENT, AND SO MUCH ELSE. THE WAY WE ENFORCE TRADE RULES RIGHT NOW IS COMPLETELY BACKWARDS. WE PUT THE BURDEN OF INITIATING TRADE CASES ON WORKERS AND UNIONS. WE DO NOT TAKE ACTION UNTIL AFTER THE DAMAGE IS DONE. WHICH OFTEN MEANS, AFTER WORKERS ARE LAID OFF. THAT IS RIDICULOUS. THE GOVERNMENT SHOULD BE ENFORCING THE LAW FROM THE BEGINNING SO WORKERS CAN FOCUS ON DOING THEIR JOBS. [APPLAUSE] AND ENFORCING TRADE LAWS, MEANS DEALING WITH ONE COUNTRY ABOVE ALL, CHINA. WHEN IT COMES TO TRADE CHINA IS BY FAR THE WORST RULE BREAKER IN THE WORLD. IT DUMPS CHEAP PRODUCTS IN THE MARKET. SUBSIDIZES STATE OWNED ENTERPRISES WHO UNDERSELL AND THE GLOBAL MARKET TO HURT OUR COMPANIES. IT DISCRIMINATES AGAINST AMERICAN COMPANIES. NOW THAT CHINA'S ECONOMY IS SLOWING DOWN, WE CAN EXPECT EVEN MORE BAD ACTS FROM THEM. IT WILL LOOK TO DUMP PRODUCTS OVERSEAS TO MAKE UP FOR LOST DEMAND AT HOME. WE HAVE TO STOP THAT RIGHT NOW. WE HAVE TO PREVENT, NOT JUST CHINA, BUT OTHER COUNTRIES FROM MANIPULATING THEIR CURRENCIES TO GAIN AN UNFAIR PRICE IT VANTAGE. I WILL DO THIS -- PRICE ADVANTAGE. I WILL DO THIS, I WILL EXPAND THE WAGE WE RESPOND -- THE WAY WE RESPOND TO CURRENCY MANIPULATION TO INCLUDE DUTIES AND TARIFFS. I KNOW SOMETHING ABOUT CHINA. I HAVE SAT ACROSS A LOT OF TABLES FROM CHINESE LEADERS, DISCUSSING AND NEGOTIATING, AND ARGUING ABOUT THE TOUGHEST ISSUES -- NUCLEAR WEAPONS, CYBER WARFARE, HUMAN RIGHTS, CURRENCY, CLIMATE CHANGE, AND MORE. I KNOW FIRSTHAND THAT THE RELATIONSHIP BETWEEN OUR COUNTRIES IS THE MOST COMPLEX AND CONFIDENTIAL IN THE WORLD -- CONSEQUENTIAL IN THE WORLD. THE NEXT PRESIDENT WILL NEED THE NEXT PRESIDENT WILL NEED TO JUDGMENT AND EXPRESSED TO STEER THAT RELATIONSHIP IN THE RIGHT DIRECTION, ON TRADE IN EVERYTHING ELSE. -- AND EVERY THING ELSE. WHEN IT COMES TO TRADE DEALS, HERE IS MY STANDARD. I WILL NOT SUPPORT ANY AGREEMENT UNLESS IT HELPS CREATE GOOD JOBS AND HIGHER WAGES FOR AMERICAN WORKERS AND PROTECTS OUR NATIONAL SECURITY. [APPLAUSE] I NEED TO BE ABLE TO LOOK INTO THE EYES OF ANY HARD-WORKING AMERICAN, ANYWHERE IN OUR COUNTRY AND SAY THIS DEAL WILL HELP READERS YOUR INCOME -- RAISE YOUR INCOME. THAT IS WHY I VOTED AGAINST THE LAST TRADE DEAL CALLED HAVE TO -- CALLED HAVE TO. IT IS WHY I DON'T SUPPORT THE TRANSPACIFIC TRADE DEAL. OUR POLICIES CANNOT JUST BE ABOUT STOPPING TRADE ABUSES AND OUTSOURCING, THEY ALSO HAVE TO BE ABOUT CREATING JOBS, AND HIGHER WAGES HERE AT HOME. I AGREE WITH MY ESTEEMED OPPONENT, SENATOR SANDERS, WE NEED MAJOR NEW INVESTMENTS IN INFRASTRUCTURE. I HAVE PUT FORTH A $275 BILLION PLAN THAT WOULD PUT MILLIONS OF AMERICANS TO WORK. MODERNIZING OUR WORD -- ROADS, BRIDGES, RAILWAYS, AIRPORTS. FINISH THE JOB OF COME -- CONNECTING ALL AMERICAN HOMES TO HIGH-SPEED INTERNET. [APPLAUSE] AND WE WILL ALSO REBUILD OUR CRUMBLING WATER SYSTEMS IN FLINT AND AROUND THE COUNTRY. [APPLAUSE] I ALSO WANT TO CREATE A NATIONAL INFRASTRUCTURE BANK TO PUT PRIVATE CAPITAL TO WORK ALONGSIDE TAXPAYER DOLLARS. WE HAVE SO MUCH WORK TO BE DONE IN THIS COUNTRY. WE NEED EVERYBODY CONTRIBUTED. -- COUNTRY BEATING -- CONTRIBUTING. THE LONGER WE WAIT TO DEAL WITH CLIMATE CHANGE, THE MORE EXPENSIVE IT GETS. [APPLAUSE] BUT IF WE START TODAY, WE CAN CREATE GOOD PAYING JOBS THAT CANNOT BE OUTSOURCED. WE CAN BECOME THE CLEAN ENERGY SUPERPOWER OF THE 21ST CENTURY. AND WE CAN PROTECT OUR KIDS HEALTH AND FUTURES IN THE BARGAIN. SO FAR SO GOOD, BUT THAT IS NOT ENOUGH. WE NEED TO INVEST IN DYNAMIC SOURCES OF GROWTH LIKE SMALL BUSINESSES, MANUFACTURING, AND TECHNOLOGY. I AM THE ONLY CANDIDATE ON EITHER SIDE IN THIS RACE WHO IS ACTUALLY -- HAS ACTUALLY PUT FORWARD A PLAN TO ENDORSE ENTREPRENEURS AND REMOVE THE BARRIERS THAT STAND IN THEIR WAY. [APPLAUSE] YOU KNOW YOU SEE THE POWER OF SMALL BUSINESSES RIGHT HERE IN MICHIGAN WITH COMPANIES LIKE DETROIT BIKES AND MCCLURG PICKLES. THEY CREATE JOBS, THEY MAKE THE CITY A DYNAMIC, ATTRACTIVE PLACE. THE SAD TRUTH IS, MORE DREAMS DIE IN THE PARKING LOT THE BANKS THAN ANYWHERE ELSE IN AMERICA. PEOPLE COME WITH A GOOD IDEA, AND THEY GET TURNED AWAY. WE HAVE TO INCREASE ACCESS TO START UP CAPITAL. GET MORE HELP TO COMMUNITY BANKS SO MORE ENTREPRENEURS CAN GET THEIR DREAMS OFF THE GROUND, AND COMPETE FOR YOUR BUSINESS. ONE IMPORTANT TOOL TO SUPPORT BOTH SMALL AND BIG BUSINESS IS THE EXPORT, IMPORT BANK WHICH HELPS BUSINESSES REACH NEW MARKETS AND COMPETE FOR NEW CUSTOMERS. UNFORTUNATELY REPUBLICAN IN CONGRESS, ALONG WITH SENATOR SANDERS HAVE TRIED TO KILL IT REPEATEDLY. HE ALSO STOOD WITH REPUBLICANS AGAINST ANOTHER IMPORTANT JOB CREATING TOOL, THE NEW MARKET TAX CREDIT. THAT HAS HELPED STEER INVESTMENTS INTO NEGLECTED COMMUNITIES. THAT DOES NOT MAKE SENSE TO ME. WE SHOULD NEVER LET IDEOLOGICAL -- IDEOLOGY GET IN THE WAY OF AMERICANS FIGHTING GOOD JOBS THEY NEED AND DESERVE. [APPLAUSE] SO I THINK YOUR NEXT PRESIDENT HAS TO OFFER A SERIOUS PROPOSAL TO JUMPSTART MANUFACTURING. WITH THE RIGHT POLICIES AND INVESTMENTS WE CAN ENSURE AMERICA CONTINUES TO HAVE THE WORLD'S MOST COMPETITIVE AUTO AND AUTO PARTS INDUSTRY. THIS IS NOT A NEW FIGHT FOR ME. IN THE SENATE, WHERE I REPRESENTED NEW YORK, I ALSO REPRESENTED SOME GREAT MANUFACTURING TOWNS LIKE ROCHESTER AND BUFFALO. I WORKED CLOSELY WITH LIKE-MINDED SENATORS LIKE DEBBIE STEVAN A. WE REACHED ACROSS THE AISLE TO START BIPARTISAN MANUFACTURING CAUCUS. THIS IS A PRIORITY FOR ME. TO HELP OUR MANUFACTURERS USE ALL OF THE LATEST SCIENCE TO FORGE STRONGER STEEL AND WE'VE TOUGHER -- WEAVE TOUGHER FABRIC. AND MAKE STRONGER CLASS. --GLASS. I REMEMBER HOW HARD I HAD TO WORK TO PROTECT JOBS AGAINST CHINA. WE HAD TO BATTLE THE CHINESE AGAINST INTELLECTUAL PROPERTY AND FAIR COMPETITION. WE HAD TO BATTLE THE BUSH ADMINISTRATION DIRECTLY GO TO BAT FOR A BLUE-CHIP AMERICAN COMPANY, BUT IT WAS WITH HER -- IT WAS WORTH IT. COMPANIES LIKE CORNING SHOW HOW TREND -- TECHNOLOGY CAN TRANSFER THE ECONOMY FOR THE BETTER. THAT CREATES ENTIRELY NEW INDUSTRY. IT IS A POWERFUL FORCE FOR PROSPERITY AND IMPROVED QUALITY OF LIFE. THE NEXT 20 YEARS ARE POISED TO BE EVEN MORE TRANSFORMATIVE THAN THE LAST. I THINK IT IS EXCITING. YOU CAN SEE THAT OLIVER MICHIGAN. -- ALL OVER MICHIGAN. IN ANN ARBOR AND OTHER PLACES. YOU CANNOT HAVE A CANDID CONVERSATION ABOUT THE JOBS OF THE FUTURE WITHOUT ALSO TALKING ABOUT THE CHALLENGES POSED BY TECHNOLOGY, AUTOMATION, AND MECHANIZATION. WE HAVE -- THIS TECHNOLOGY IS A FORCE FOR GOOD, FOR ALL OF US. AS WE LADY FOUNDATION FOR A BRIGHTER FUTURE, WE HAVE TO LOOK YIELD WITH THE LEGACY OF THE PAST -- WE HAVE TO DEAL WITH THE LEGACY OF THE PAST. THERE ARE TOO MANY ECONOMIC BARRIERS THAT DISPROPORTIONATELY HOLD BACK COMMUNITIES OF COLOR. SEGREGATION IN SCHOOL, A HUGE OPPORTUNITY GAP. WE NEED A CONFERENCE OF COMMITMENT TO INVEST IN ALL COMMUNITIES, ANYWHERE THAT HAVE TWO LONG BEEN NEGLECTED -- TOO LONG BEEN NEGLECTED. LET'S WORK TO REPLACE THE SCHOOL TO PRISON PIPELINE WITH A CRADLE TO COLLEGE PIPELINE. [APPLAUSE] LET'S HELP THE MILLIONS OF PEOPLE COMING HOME FROM PRISON EVERY YEAR FIND NEW JOBS, NOT CLOSED DOORS. [APPLAUSE] I WANT TO WORK ACROSS OUR COUNTRY. NOT ONLY IN URBAN COMMUNITIES, BUT IN COLD COUNTRY -- COAL COUNTRY, INDIAN COUNTRY, I WANT TO DO EVERYTHING I CAN TO HELP IMMIGRANTS WHO ARE FORCED TO LIVE IN THE SHADOWS. HERE'S THE BOTTOM LINE -- CREATING GOOD PAYING JOBS HAVE TO BE A TOP PRIORITY. WE HAVE TO BUILD ON THE PROGRESS WE HAVE MADE THE PRESIDENT OBAMA -- MADE WITH PRESIDENT OBAMA. AS WE LEARNED THIS MORNING, MORE THAN 242,000 JOBS JUST LAST MONTH. [APPLAUSE] BUT YOU KNOW WHAT, I AM NOT TAKING THAT FOR GRANTED. WE HAVE TO MAKE SURE WE HAVE MUCH MORE IN THE PIPELINE SO THAT EVERY AMERICAN HAS A CHANCE TO GET AHEAD AND STAY AHEAD. DON'T LET ANYONE TELL YOU WE CANNOT DO THIS. AS I SAID IN THE 90'S, WE MADE INCOMES RISE FOR EVERYONE. WE HAVE SEEN THE AUTO INDUSTRY PULL TOGETHER AND RECOVER FROM THE BRINK OF COLLAPSE TO RECORD SALES. WE HAVE DONE THIS BEFORE. I WILL TELL YOU, WHEN I HEAR PEOPLE RUNNING FOR PRESIDENT WHO SPEND ALL OF THEIR TIME BADMOUTHING AMERICA, IT REALLY UPSETS ME. YOU KNOW WHAT, WE HAVE WORK TO DO. INSTEAD OF COMPLAINING, LET'S JOIN HANDS, LIFT OURSELVES UP. LET'S MAKE A DIFFERENCE. LET'S BUILD TOMORROW. LET'S MAKE SURE EVERY AMERICAN HAS A EIGHTH -- HAS THE SAME CHANCE TO LIVE UP TO HIS OR HER DOG GIVEN POTENTIAL. -- GOD-GIVEN POTENTIAL. HANK YOU. -- THANK YOU SO MUCH. [APPLAUSE] (music) THIS IS MY FIGHT SONG RIGHT NOW I WILL BE STRONG I'VE GOT MY WIFE SONG -- ...

Show Full Text Show Less Text
00:37:14

LIFE SONG I STILL HAVE A LOT OF FIGHT LEFT IN ME (music) (music) (music) (music) (music) (music) (music) (music) >>

00:37:40

WHAT DOESN'T KILL YOU MAKES YOU STRONGER (music) (music) (music) (music)