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lives and over a trillion dollars, it’s time to do some nation-building right here at home.

You can choose a future where we reduce our deficit without wrecking our middle class.  Independent analysis shows that my plan would cut our deficits by $4 trillion.  Last summer, I worked with Republicans in Congress to cut $1 trillion in spending – because those of us who believe government can be a force for good should work harder than anyone to reform it, so that it’s leaner, more efficient, and more responsive to the American people. 

I want to reform the tax code so that it’s simple, fair, and asks the wealthiest households to pay higher taxes on incomes over $250,000 – the same rate we had when Bill Clinton was president; the same rate we had when our economy created nearly 23 million new jobs, the biggest surplus in history, and a lot of millionaires to boot. 

Now, I’m still eager to reach an agreement based on the principles of my bipartisan debt commission.  No party has a monopoly on wisdom.  No democracy works without compromise.  But when Governor Romney and his allies in Congress tell us we can somehow lower our deficit by spending trillions more on new tax breaks for the wealthy – well, you do the math.  I refuse to go along with that.  And as long as I’m President, I never will. 

I refuse to ask middle class families to give up their deductions for owning a home or raising their kids just to pay for another millionaire’s tax cut.  I refuse to ask students to pay more for college; or kick children out of Head Start programs, or eliminate health insurance for millions of Americans who are poor, elderly, or disabled – all so those with the most can pay less. 

And I will never turn Medicare into a voucher.  No American should ever have to spend their golden years at the mercy of insurance companies.  They should retire with the care and dignity they have earned.  Yes, we will reform and strengthen Medicare for the long haul, but we’ll do it by reducing the cost of health care – not by asking seniors to pay thousands of dollars more.  And we will keep the promise of Social Security by taking the responsible steps to strengthen it – not by turning it over to Wall Street.  

This is the choice we now face.  This is what the election comes down to.  Over and over, we have been told by our opponents that bigger tax cuts and fewer regulations are the only way; that since government can’t do everything, it should do almost nothing.  If you can’t afford health insurance, hope that you don’t get sick.  If a company releases toxic pollution into the air your children breathe, well, that’s just the price of progress.  If you can’t afford to start a business or go to college, take my opponent’s advice and “borrow money from your parents.” 

You know what? That’s not who we are.  That’s not what this country’s about.  As Americans, we believe we are endowed by our Creator with certain inalienable rights – rights that no man or government can take away.  We insist on personal responsibility and we celebrate individual initiative.  We’re not entitled to success.  We have to earn it.  We honor the strivers, the dreamers, the risk-takers who have always been the driving force behind our free enterprise system – the greatest engine of growth and prosperity the world has ever known. 

But we also believe in something called citizenship – a word at the very heart of our founding, at the very essence of our democracy; the idea that this country only works when we accept certain obligations to one another, and to future generations. 

We believe that when a CEO pays his autoworkers enough to buy the cars that they build, the whole company does better. 

We believe that when a family can no longer be tricked into signing a mortgage they can’t afford, that family is protected, but so is the value of other people’s homes, and so is the entire economy. 

We believe that a little girl who’s offered an escape from poverty by a great teacher or a grant for college could become the founder of the next Google, or the scientist who cures cancer, or the President of the United States – and it’s in our power to give her that chance. 

We know that churches and charities can often make more of a difference than a poverty program alone.  We don’t want handouts for people who refuse to help themselves, and we don’t want bailouts for banks that break the rules.  We don’t think government can solve all our problems.  But we don’t think that government is the source of all our problems – any more than