Jan 27, 2011
Highlights of the speech
'None of us can predict with certainty what the next big industry will be, or where the new jobs will come from... What we can do - what America does better than anyone - is spark the creativity and imagination of our people.
'We are the nation that put cars in driveways and computers in offices; the nation of Edison and the Wright brothers; of Google and Facebook. In America, innovation doesn't just change our lives. It's how we make a living.'
'When a child walks into a classroom, it should be a place of high expectations and high performance. But too many schools don't meet this test.
'That's why instead of just pouring money into a system that's not working, we launched a competition called Race to the Top. To all 50 states, we said, 'If you show us the most innovative plans to improve teacher quality and student achievement, we'll show you the money.''
'We will put more Americans to work repairing crumbling roads and bridges. We will make sure this is fully paid for, attract private investment, and pick projects based on what's best for the economy, not politicians. Within 25 years, our goal is to give 80 per cent of Americans access to high-speed rail... For some trips, it will be faster than flying - without the pat-down.'
'I'm asking Congress to eliminate the billions in taxpayer dollars we currently give to oil companies.
'I don't know if you've noticed, but they're doing just fine on their own. So instead of subsidising yesterday's energy, let's invest in tomorrow's.'
'To help businesses sell more products abroad, we set a goal of doubling our exports by 2014...
'Already, our exports are up. Recently, we signed agreements with India and China that will support more than 250,000 jobs in the United States. And last month, we finalised a trade agreement with South Korea that will support at least 70,000 American jobs.
'This agreement has unprecedented support from business and labour, Democrats and Republicans, and I ask this Congress to pass it as soon as possible.'