2009: A Year for Progress

After the worst economic year in recent memory, we are beginning 2009 with an unparalleled sense of urgency and anticipation. The new Congress and the Obama Administration are committed to shaping an economic policy that creates jobs and helps our nation’s working families get back on their feet and to changing the way business is done in Washington.

In the past year, as the global credit crisis dragged the entire nation into recession, leaders across the country have recognized the urgent need for a strong, coordinated government response, which we in Michigan have been advocating for so long.

We began to make progress in December with the emergency bridge loans extended to help American automakers survive the credit crisis. Because so many consumers lost access to credit, auto sales fell off a cliff in 2008 and automakers, already in the midst of major restructuring efforts, were hit hard and were unable to borrow money in private financing markets. The companies are working on viability plans that they will complete by March – these plans and the completion of other restructuring efforts can help our domestic automotive industry once again lead the world in innovation and fuel job creation and economic growth in America.

The auto industry is not the only sector of our economy that is suffering right now. That’s why Congress is already working on a economic recovery package that we are hoping to complete quickly for President Obama to sign into law in his first weeks in office. The package needs to include tax cuts for working families as well as funding for infrastructure projects that will help create jobs and strengthen our communities for future economic growth. It should also include assistance for homeowners threatened by foreclosure and for state governments so that schools, health care, public safety and other state and local budget items are not slashed as tax revenues decrease during this recession.

It is also critical that we renew our commitment to manufacturing and vastly increase our efforts to encourage the development of advanced technologies. For example, ending our nation’s dependence on foreign oil will require a new generation of advanced batteries for consumer and commercial use – and this same technology has vital military applications. I will continue to push for funding to help manufacturers establish domestic manufacturing capability for this and other critical technologies that will determine the future of our industrial base in America.

Another problem that demands our attention is the increasing cost of health care, along with the gaps in our health care system that leave too many Americans with inadequate insurance or without any insurance at all. I am hopeful that this year we can finally make progress on measures like expanding the Children’s Health Insurance Program and moving towards universal health care.

Just as health care is critical for our economic competitiveness, achieving sustained prosperity for future generations of Americans requires that we start investing more in education for our children. Far too often, our education system is falling short for our kids, and, despite progress in the last Congress to improve federal financial aid, too many families cannot afford the college or technical training that is so important for success in the 21st century economy. I am hopeful that we can continue this year to move towards a system that provides resources to meet high standards for all of our children’s academic progress.

While our immediate focus is necessarily on economic issues, protecting our nation’s security will require a significant re-engagement with the world community, matching our military might with visionary diplomacy to restore our nation’s standing as a beacon of freedom and hope around the world. As Chairman of the Senate Armed Services Committee I will work with the new administration to bring most of our troops home from Iraq promptly and safely, and to formulate a strategically sound approach to our military engagement in Afghanistan and elsewhere around the world.

The crises America faces today are like none we have confronted in generations, making this a challenging and historic time for our nation. This year it will be critical to set aside partisan differences and pass significant legislation to get our nation back on track. With new leadership and a bipartisan commitment to working together for change, I am confident that we can emerge from our current economic troubles stronger, safer, and more prosperous than ever before.