English subtitles for clip: File:2015-04-11 President Obama's Weekly Address.webm

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The Vice President:
Ladies and Gentlemen,

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this is Joe Biden and I'm here
filling in for President Obama,

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who is traveling abroad.

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And I'm here with a simple
message: middle-class

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economics works.

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Our economy has gone from
crisis to recovery to now to

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resurgence-with the longest
streak of consecutive job

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growth ever recorded in the
history of this country and

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more than all other advanced
countries combined.

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But to make sure everyone is
part of this resurgence,

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we need to build on what we
know widens the path to the

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middle class-and you all
know what it is,

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access to education.

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Folks, the source of our
economic power and middle

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class strength in the 20th
Century was the fact that we

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were among the first major
nations in the world to

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provide twelve years of free
education for our citizens.

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But in the 21st Century,
other countries have already

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caught up and twelve years
is simply no longer enough-a

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minimum of fourteen years is
necessary for families to

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have a surer path to the
middle class and for the

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United States to be able to
out-compete the rest of

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the world.

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Consider that by the end of
the decade,

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two out of three of all jobs
will require an education

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beyond high school, from an
18-week certificate to a

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two-year associate's degree
to a four-year bachelor's,

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or a PhD.

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And consider that folks with
an associate's degree earn

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25% more than someone who
graduated just from

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high school.

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And folks who graduate with
a four-year degree make

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70% more.

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But today, the cost of
higher education is too high

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for too many Americans.

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Too many folks are priced
out of a piece of the

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middle-class dream.

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And that's why the President
and I have a straightforward

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plan to remove that barrier
and expand the pathway to

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the middle class-by bringing
the cost of community

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colleges down-down to zero.

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Zero-for anyone willing to
work for it and for the

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institutions that meet
certain basic requirements.

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Our plan is no give-away.

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Students must keep up their
grades and stay on track

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to graduate.

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States must contribute
funding and hold community

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colleges accountable for the
results.

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And community colleges must
maintain high graduation and

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job placement rates.

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And here's a key
point-community colleges

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will have to offer courses
that are directly

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transferrable to a four-year
degree.

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If two years of community
college are free-and credits

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can transfer to a four-year
university-that means the

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cost of a four-year degree
will be cut in half for a

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lot of working families
struggling to send their

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children to college,
qualified children.

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And under our plan, students
from low-income families

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will be able to keep the
benefits that flow from

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other financial aid, like
Pell grants,

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to cover childcare, housing,
transportation-costs that

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often keep them from
attending class and

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completing a degree in the
first place.

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But here's another key
point.

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Not every good-paying job
will require a two-year or

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four-year degree.

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Some of these jobs will
require just a training

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certificate that can be
earned in just a few months.

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For example, you can go to
an 18-week coding

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bootcamp-with no previous
experience in computers-and

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become a computer programmer
making up to $70,000 a year.

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There are other jobs in
fields like advanced

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manufacturing and energy
that pay $40,000, $50,000,

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$60,000 a year-jobs you can
raise a family on.

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It's a simple fact that
community colleges are the

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most flexible educational
institutions we have.

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I've traveled all over this
country,

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from New York to Iowa to
California,

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to see how community
colleges create partnerships

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with Fortune 500 companies
and local businesses to

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generate jobs; support
apprenticeships with

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organized labor, and prepare
hardworking students for

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good-paying jobs in the
areas in which they live.

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Making community colleges
free is good for workers,

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it's good for companies, and
it's good for our economy.

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Here's what we propose:
Close loopholes for the

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wealthiest investors and
levy a .

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07% fee on the biggest banks
to discourage the kind of

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risky behavior that crashed
our economy just a few

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years ago.

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Doing just that would pay
for free community

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college-and provide a leg up
for working families through

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tax credits to cover
necessities like childcare.

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That's what middle-class
economics is all

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about-giving folks a fair
chance to get ahead.

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A fair tax code.

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No guarantees.

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Just a fair chance.

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It's simple folks, two years
of community college should

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become as free and as
universal as high school is

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today if we're to make this
economic resurgence

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permanent and well into the
21st Century.

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So I want to thank you all
for listening.

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I hope you have a great
weekend and God bless you

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all and may God protect our
troops.