кѥ˥塼

޸Ρкѥ˥塼̤ưͻ֥Ǥϵ岹Ȳ˻ߤΤúи󾧤ޤиӽиȤϰ㤤ޤߤʴ㤤ΤǤ

2010ǯ01

ХΤνι̱ԡԤޤ
̶ԤäФʤΤˡ

ο͡˥ԡǤ

ǡäȤСϽФȺֻκ︺ɬˤ
ƤǤȤȤǡ̶ǿ줿ΤŪ
ˤϽʣƤ櫓Ǥ

ԡɽϡReining in Budget Deficits ȤʤäƤޤ
ܸСֻ򥳥ȥ뤹롢ȤȤǤ礦


㥪ХΤνι̱ԡ

ǯκԤþΤƷ70θѤ
桢桹ϲ椬кѤ˴ؤʤ뺤Υ˥塼ä
Ѥä٤ԡɤǽ̾ƤΤ50ǯǺǤ⸷6
Ϥʵθࡣ̤򸺤餷Ź򸺤
ơ̤μȤäƤ
 
1ǯ塢ȯɽˤʤäкѻɸˤСưȿž
Ȥ6֡椬кѤϺƤĹ³Ƥ롣10-12
ϡ6ǯ֤˸ʤäԡɤĹ

ʤǤ롣ԤþΤդߤФƷк
Ƥư˲桹ʷ꤬ɤäȤȤ

ʤ¿ο͡⤬Ƥ롣10ͤ1ͤι̱Ż
ĤФʤǤ롣ơɴͤοͤ̿Ư
Τ˼ϸƤ롣ˤäơ桹Ǥ̳ñ
кѤĹǤϺѤޤʤƤͤΤ˿
뤳ȡƿ˽Ƥͤˤϼ褦ˤƤ뤳
桹Ǥ̳ʤΤGDPλȾפɤʤǤϤ
Τ֤͡β´Ǥ뤳ȡĤޤ
ȡꤹ뤳ȤǤȡҶˤʤΥ󥹤Ϳ
ȤǤ褦ˤʤäȡơषƤ⽽ʬȡ
Τ褦˼´Ǥ뤳ȤפʤΤ

顢2010ǯκͥϡѤϽФȤȤʤΤ桹
ϡΥեƹۤʤ¿ι̱򿦾롣
ϽФοΥ󥸥ϥꥫδȤˤ櫓顢
νȰۤ¶夲ƿԤ
Ȥٱ礹뤿˸ǤƤϤޤ澮ȤΥԥ
Ǥѻߤơ澮ȤŹޤʤɤĥ˺ݤ
ɬפȤʤͻ䤹ʤ褦˻ٱ礷

ϽФΤϤΤǤ뤬;ˤĹѤ
ŤͤƤֻ뤳ȤŪ˽פ桹λҤ
¹˼ڶΥĥ󤹤ǤϤʤԾ˰ƶͿξ徺
򾷤ƺäȲƤФηкѤˤ餹Ȥ
Τ

ȷפȤˤϡ餬ʬͽ򤷤ä褦Ȥ
ޤä¸ߤ롣ƤΤΤ뤳ȤϤǤ
ȤϿߤΤϤʤˤ˾ʤ롣Ǥ
ҶΤ˵ޤʤäƤʤΤȤȤϤ
äƤΤǤɤˤ꤯ꤹΤ

ܤƱ褦ʤȤ򤹤ʤΤϡ屡1990ǯ
Ƴڥ롼褵Ȥ򴿷ޤ롣1990ǯ夬
2360ɥκĤƽ뤳ȤˤʤäΤ϶ǤϤʤ
桹Ϥθ塢ڥ롼ѻߤƤޤäη
2000ǯ1.3ɥֻǽäΤΥ롼Ƴ
뤳ȤˤäơٽФ򤹤ȤϾˤθ֤ȤƥåȤΤ
õȤˤʤΤǡεƻ˾褻뤳ȤǤǤ

ٽФƤˤäơѤϽФֽ
ؤθǤʤɬפȤΤؤ礵뤳Ȥˤʤ롣
ơɬפȤʤΤؤλٽФ򥫥åȤΤ㤨СҤ
եɤФ븺ǡˡʣꡢ٤ˤʤäꡢ
Ψʤɤ԰ݸ԰޽ƼҲ
оݳɤоݳǤ롣ʳƤκ
ŪٽФоݤȤʤ롣

ǸˡĶɤκѰ׵᤹롣ϡ̱ޤȶ
ޤεİˤΤǡߥåȤߤĤġŪֻ︺
ƤƤ餦桹ϡܤμڶ˴ؤ¿εƥ
̤ʹܤμڶ︺뤿ˡ桹ȤƼ
ɬפΤ뤳Ȥ򡢰ķ뤷ƷꤹȤʤΤ

53̱ͤޤȶޤεİ屡ˤΰѰ֤
Ȥ˻ɼꤸǽˤʤäƤΰƤٻ7
ͤζޤεİȿɼꤸ뤳Ȥ˷ꤷȤˤäơ
ϼԤ˽ä

뤳ȤˤĤơľʰ㤦ոҤ٤뤳ȤĤ
Ͼˡȿ뤳ȤФθǤȤΩͤΤȤ
ºɤ롣ˤοͤΰոȿФǤäȤƤ

ŪͳΩѤȤΤϼ뤳ȤǤ
ʤȿФΤȿФ򤹤Τϼ뤳ȤϤǤʤ⤷
ȤΤˤȤäƺΤȤ򤹤ΤǤϤʤ
˾ĤɬפǤ뤳Ȥ򤹤ΤǤСѤϽФֻ
򥳥ȥ뤹뤿˰̣Ȼפ褦ʤȤ򤹤
Ȥ⡢ޤư򵯤ȤǤʤ

ϡ̱䤳ιľ̤Ƥ븽¤褷褦Ȥ
͡ȶϤѰդϤǤƤ롣椬ηкѤƤӵƻ˾褻
Ƥι«¹Ԥ뤳Ȥٱ礹뤿ᡢ¤˥ơ֥˽
Ȥ뤹͡򴿷ޤ롣줬ˡ桹Ф줿ͳ
Τ줬̱Ԥ뤳ȤʤΤơ줬桹ʤ
ФʤʤȤʤΤ

 

ХΤϡѤͥȤϸΤΡƱ˺
κ︺Ϥ뤳ȤפâٽФ2011ǯǯ
٤ˤȤäƤ櫓Ǥ

ܤǤϿԶΤʤֻκ︺ϤɤƤꤷ褦
Ȥʷϵޤƹϰ㤦褦Ǥ

ʤܤڶ򤷤Ƥơ⤷ȤƹιĤ
⤷ʤʤäɤʤΤȤݴΤǤϤʤǤ

㤨С񤬡ϥƹĤšޤ
פɡšʤƹͤơ

ȯˤʤݡ륽̳Ĺ֥󡦥֥󥯡פ
ϡ2008ǯ˥ͻĹ褦Ȥơեˡᥤե
ǥޥåκķӤ褦ȤȤ񤫤Ƥ롢󤸤
Ƥޤ


ݤǤ͡ݤǤ͡


ϡʤȤͤƤΤȻפäå򤪴ꤤ
ޤ
↓↓↓
͵blog󥭥󥰤

 

ѸС
   At this time last year, amidst headlines about banks 
on the verge of collapse and job losses of 700,000 a
month, we received another troubling piece of news about
our economy.  Our economy was shrinking at an alarming
rate – the largest six-month decline in 50 years.  Our
factories and farms were producing less; our businesses
were selling less; and more job losses were on the
horizon.

 One year later, according to numbers released this past
week, this trend has reversed itself.  For the past six
months, our economy has been growing again.  And last
quarter, it grew more quickly than at any time in the past
six years.

 This is a sign of progress.  And it’s an affirmation of
the difficult decisions we made last year to pull our 
financial system back from the brink and get our economy 
moving again.


 But when so many people are still struggling – when one 
in ten Americans still can’t find work, and millions more 
are working harder and longer for less – our mission 
isn’t just to grow the economy.  It’s to grow jobs for folks 
who want them, and ensure wages are rising for those 
who have them.  It’s not just about improvements we see
in quarterly statistics, but ones people feel in their
daily lives – a bigger paycheck; more security; the ability 
to give your kids a decent shot in life and still have
enough to retire one day yourself.

 That’s why job creation will be our number one focus in 
2010.  We’ll put more Americans back to work rebuilding 
our infrastructure all across the country.  And since the 
true engines of job creation are America’s businesses, 
I’ve proposed tax credits to help them hire new workers, 
raise wages, and invest in new plants and equipment. 
I also want to eliminate all capital gains taxes on small 
business investment, and help small businesses get the 
loans they need to open their doors and expand their 
operations.   

 But as we work to create jobs, it is critical that we
rein in the budget deficits we’ve been accumulating for
far too long – deficits that won’t just burden our children 
and grandchildren, but could damage our markets, drive
up our interest rates, and jeopardize our recovery right
now.

 There are certain core principles our families and
businesses follow when they sit down to do their own
budgets.  They accept that they can’t get everything they
want and focus on what they really need.  They make
tough decisions and sacrifice for their kids.  They don’t
spend what they don’t have, and they make do with what
they’ve got.

 It’s time their government did the same.  That’s why I’m 
pleased that the Senate has just restored the pay-as-you-
go law that was in place back in the 1990s.  It’s no 
coincidence that we ended that decade with a $236 billion
surplus.  But then we did away with PAYGO – and we
ended the next decade with a $1.3 trillion deficit. 
Reinstating this law will help get us back on track,
ensuring that every time we spend, we find somewhere
else to cut.

 I’ve also proposed a spending freeze, so that as we
increase investments in things we need, like job creation
and middle class tax cuts – we cut spending on those we
don’t, like tax cuts for oil companies and investment fund
managers, and programs that are redundant, obsolete, or
simply ineffective.  Spending related to Medicare,
Medicaid, and Social Security will not be affected – and
neither will national security – but all other discretionary
government programs will.

 Finally, I’ve called for a bi-partisan Fiscal Commission –
a panel of Democrats and Republicans who would sit down
and hammer out concrete deficit-reduction proposals by a
certain deadline.  Because we’ve heard plenty of talk and
a lot of yelling on TV about deficits, and it’s now time to
come together and make the painful choices we need to
eliminate those deficits.

 This past week, 53 Democrats and Republicans voted for
this commission in the Senate.  But it failed when seven
Republicans who had co-sponsored this idea in the first
place suddenly decided to vote against it.

 Now, it’s one thing to have an honest difference of
opinion about something.  I will always respect those who
take a principled stand for what they believe, even if I
disagree with them.

 But what I won’t accept is changing positions because
it’s good politics.  What I won’t accept is opposition for
opposition’s sake.  We cannot have a serious discussion
and take meaningful action to create jobs and control our 
deficits if politicians just do what’s necessary to win
the next election instead of what’s best for the next
generation.

 I’m ready and eager to work with anyone who’s
about solving the real problems facing our people and
our country.  I welcome anyone who comes to the table
in good faith to help get our economy moving again and
fulfill this country’s promise.  That’s why we were
elected in the first place.  That’s what the American
people expect and deserve.  And that’s what we must
deliver.


Thank you.

ϡʤȤͤƤΤȻפäå򤪴ꤤ
ޤ
↓↓↓
͵blog󥭥󥰤

Υȥ꡼ϤƤʥ֥åޡɲ

ƹ2009ǯ10-12μ¼GDPȯɽˤʤޤ

5.7ĹƤΤǤ͡ХΤΰ̶
ΤʤDz٤ⲿ٤job Ȥemployment Ȥդ
ʹȡƤޤꥫμΨ10⤢ʹȡ
ꥫкѤ֤줿ǡ˹󤤤ΤȾ
ޤΤǤŤǤ⡢10-12μ¼ĹΨ5.7⤢
롢ȡ

ܤϤȤСΨ5.1ȥꥫȾʬ
οˤȤɤޤäƤΤǤɤѤäȤʤȡ
̤
ơƹܤ٤硢ɤ餬꿼ʾˤ
ͤ٤ʤΤǤ礦

ɤפޤ

δۤСꥫϼΨϹ⤤Զο
ϤۤɤǤʤȤΤǤĤޤ˼ܤ
ꥫϴñ˼ڤ䤹ΤǼ
Ψ⤤ȡ


Ǥϡκ򤪼ޤ礦

褺ܤμ¼GDPοܤ顣

             ¼GDPΨ
ʵĴѤߡǯˡǯΨ
2006/01-03543 ߡ 0.8%
2006/04-06548                  3.3%
2006/07-09550                  1.8%
2006/10-12    553                  2.2%
2007/01-03562                  6.8%
2007/04-06560                 -1.6%
2007/07-09560                  0.1%
2007/10-12562                  1.5%
2008/01-03570                  5.6%
2008/04-06558                 -8.1%
2008/07-09552                 -4.0%
2008/10-12538                -10.2%
2009/01-03521                -11.9%
2009/04-06524                  2.7%
2009/07-09526                  1.3%
2009/10-12           

 


ϡƹ¼GDPοܤǤ

             ¼GDPΨ
ʵĴѤߡǯˡǯΨ
2006/01-0312.9 ɥ롡 5.4%
2006/04-0613.0 ɥ               1.4%
2006/07-0913.0 ɥ               0.1%
2006/10-12    13.1 ɥ               3.0%
2007/01-0313.1 ɥ               1.2%
2007/04-0613.2 ɥ               3.2%
2007/07-0913.3 ɥ               3.6%
2007/10-1213.4 ɥ               2.1%
2008/01-0313.4 ɥ              -0.7%
2008/04-0613.4 ɥ               1.5%
2008/07-0913.3 ɥ              -2.7%
2008/10-1213.1 ɥ              -5.4%
2009/01-0312.9 ɥ              -6.4%
2009/04-0612.9 ɥ              -0.7%
2009/07-0913.0 ɥ               2.2%
2009/10-1213.2 ɥ               5.7%


  ǡǤ礦

ܤƹ⡢ηкѴǼ¼GDPǥޥ
žΤϡɤ4ȾϢ³ƱʤΤǤ
ޥʥˤĤƤϡܤΤڤ礭ȤȤ
ơ¼GDPľμ³ۤԡ٤Ȥ
⡢ܤڤ礭ΤǤ

ܡ
570ߡ→521ߡ→526ߡȤȤǡ
ϡԡٺ9ۤɲ塢ߤʤ8
ɥԡ򲼲äƤǤ

ƹ
13.4ɥ롡→12.9ɥ롡→13.2ɥ롡Ȥ
ǡƹϡԡٺ4ۤɲ塢ߤ
2ۤɥԡ򲼲äƤˤʤΤǤ

ĤޤꡢܤСƹξˤϡ⤦ԡ
ȤۤɰʤۤɤοޤDzƤ롢ȡ
ܤϡޤޤ㤤ޤޤǤ롢ȡ

̤ε䤬⤫ǤޤƹηкѤϡ
ﳲƲʤǤʤ顢μΨϡ
ܤ٤Ƴʤ˹⤤Τȡ

ƹˤƼȼԤäȼȤƤϡ
߶Ȥ¤Ȥ󤲤ƤޤХ֥뤬Ϥ
Ǥ顢߶Ȥʤɤä˱ƶ礭äȤưפ
ǤȤǤ

Ǥϡƹηʵ̤ϤɤʤΤ

ϡճ뤤ΤǤϤʤͽۤޤ

Τ

ϡˤƴȤ佻񤬲Ƥ
뤫Ǥ


             ̱񡡡
2008/10-1214961ɥ-19.5󡡡4150ɥ롡-23.2
2009/01-0313212ɥ-39.2󡡡3679ɥ롡-38.2
2009/04-0612884ɥ롡-9.6󡡡3444ɥ롡-23.3
2009/07-0912690ɥ롡-5.9󡡡3596ɥ롡 18.9
2009/10-1212781ɥ   2.9 3646ɥ롡  5.7


ȽǤäȤǤ礦

Ȥ˲äᤤ̱ڤ夲Ƴ졢
ơ͢нŻܤˤ˽äơɥͶƳΤ
Ķ³ΤǤСե
ʤ¤ꡢƵ޷ʥɥ¤ʤ¤ꡢƹкѤ
¤˲³ΤǤϤʤǤ礦

ʤС椬кѤؤ⹥ƶ⤿餹ȤǤ礦


кѤϾ뤵뤫⡢Ȼפå򤪴ꤤ
ޤ
↓↓↓
͵blog󥭥󥰤

Υȥ꡼ϤƤʥ֥åޡɲ

󡢿ӤξȤΤ¸ΤǤ

ϡäꤷƤƺޤΤޤǤɤơ
ä᤯ƤʤäΤȸ

ȤΤϡ̳ΤȤǤꡢơӤȤ
ϡ̱ޤӵİΤȤǤ


μκƸâάƤޤ

1߽Ф1ߤ̤ʤ褦򤷤Ƥơ
Ѥ¤򾷤

ӡ̤ΤȤäƤȻפȤϾ
̤ϡ1롣ǤϡҤɤξ̤Ϥɤ
Τ

1߽Фơ1ߤθ̤ʤΤϻ¾̤ϥ

ӡμϡҤɤξ̤ɤΤ餤ȤߤƤ
뤫ȤȤ

Ĺʡֺ̱ǽٽФ1ٲ夲롣¼GDP
0.2ۤɰ夲롣

ӡθ̤äΤǡȤۤǤγۤä
ФǤ롣

ëҤɤξ̤ϡ׻Ƥʤ1ʾ
Ǥ뤳Ȥϴְ㤤ʤݰβʤɤ򤹤С
1.31.5ʾˤʤ롣

0.7٤ξն0.3

ӡȾ̤ΰ㤤ˤĤƽҤ٤ߤ

̤ξܺ٤ʷ׻ϤƤʤ

ӡƤäȾ̤δط
Ƥۤ1ߤκٽФ1.3ߤθ̤
С1.3ȤȤ

㤨С1߻ٵ뤵Ⱦʬ񤵤С
0.5

ӡդ򤹤ˤĤƤϡȾʬȤȤϡ
Ĥ꤬ߤ顢¤ʤ̤Ʊǰ
ʤȻ򤹤롣ʤ顢0.7ȸȤ1ڤä
Τǡ1㤤ȤǧƤΤǡ1
Τɡ䤷ơ1ʾ夢ΤڤС
Ѹ̤ϡƱ⸻ĤΤǤСޥʥˤʤ롢
ع̤οؤʬ뤳Ȥ

դˤĤƤϡ100Ȥ줿100顢1
ˤʤʤդˤĤƤϡ1Ķ뤳ȤϤʤ1
㤤ȤϳΤ̤θ̤롣ܤγϤ
äƤ뤳ȤФפƻڤˤʤäƤ롣

ӡʾ³ȻԾ줬ŤʤȤ褯ʤ


ͤμϤɤƤ߹狼ʤäΤǤ礦
δμ­Ƥ顩

⤢Ǥ礦ӵİ򤷤ƤΤǤ
ϡӵİΤȤ㤤֤᤮Ƥơӵİ
򤷤Ƥ뤳ȤʬäƤʤ顢ء
𤵤ƤΤǤ

ˤƤ⡢2ͤƤȤΡȿ
ˤʤޤȤΤϡͤ㤤򤷤ȯ򤷤Ƥ
Ȥˡïäȿ򼨤ͤʤȤȤǤȤ
Ȥϡ褯ʬäƤʤͤȾǤϤʤȡ


ϡʤ򤷤ߤä

˾ޤȤ

1߽Ф1ߤ̤ʤ褦򤷤Ƥơ
Ѥ¤򾷤

ӡ̤ΤȤäƤȻפȤϾ
̤ϡ1롣ǤϡҤɤξ̤Ϥɤ
Τ

1߽Фơ1ߤθ̤ʤΤϻ¾̤ϥ


褺󤬻Ҥɤξ̤ˤĤʤ
Ǥ͡ǡΤʤʤΤʤΨľˤФ
äϡ󥺤ξ̤ʤɤ뤳Ȥ
٤Ȥ


ӡμϡҤɤξ̤ɤΤ餤ȤߤƤ
뤫ȤȤ

Ĺʡֺ̱ǽٽФ1ٲ夲롣¼GDP
0.2ۤɰ夲롣


Ĺʤȯ⡢̤ΰ̣ʬäƤƤȯ
Ȥϻפޤ󡣤ĤޤꡢïѰդۤΤޤޤǤ


ӡθ̤äΤǡȤۤǤγۤä
ФǤ롣

ëҤɤξ̤ϡ׻Ƥʤ1ʾ
Ǥ뤳Ȥϴְ㤤ʤݰβʤɤ򤹤С
1.31.5ʾˤʤ롣


ëƨƤޤ͡ƨƤʾ˸򤷤Ƥ
롣1ʾǤȤΤϴְ㤤ȤΤϡ1߻ٵ뤵
Ƥ⡢Ƥߤ˲и̤ϥ顢̤ϥ
ȤʤΤǤ


0.7٤ξնϡ0.3ä

οۤϡʤ


ӡȾ̤ΰ㤤ˤĤƽҤ٤ߤ

̤ξܺ٤ʷ׻ϤƤʤ


οۤƨƤ롣Ⱦδطˤ
Τ뤳ȤϤǤʤȸ٤


ӡƤäȾ̤δط
Ƥۤ1ߤκٽФ1.3ߤθ̤
С1.3ȤȤ

դ顢Ӥ򤷤Ƥ뤳Ȥ¬롣


㤨С1߻ٵ뤵Ⱦʬ񤵤С
0.5

οۤϡʤ


ӡդ򤹤ˤĤƤϡȾʬȤȤϡ
Ĥ꤬ߤ顢¤ʤ̤Ʊǰ
ʤȻ򤹤롣ʤ顢0.7ȸȤ1ڤä
Τǡ01㤤ȤǧƤΤǡ1
򲼲Τɡ䤷ơ1ʾ夢ΤڤС
кѸ̤ϡƱ⸻ĤΤǤСޥʥˤ
롢ع̤οؤʬ뤳Ȥ

ӤθȽȾ̤¤ʤƱ
ǰˤʤȤΤϰ̣Ӥϡ0.7
С̤η׻򤹤оϡ1÷1-0.7ˡ3.33
ˤʤ뤳Ȥ٤ǤäơΤǡҤɤ
ʤɤεդξˤϸȤʤɤȰۤʤꡢǽκ
ʬñʤΰžˤʤ顢ξ硢3.33θ
̤ǤϤʤ12.33θ̤ʤȸ٤
ä

פӤ򤷤Ƥơ0.7Ǥ뤳Ȥ
0.7Ǥ뤳ȤȺƱƤ롣

դˤĤƤϡ100Ȥ줿100顢1
ˤʤʤդˤĤƤϡ1Ķ뤳ȤϤʤ1
㤤ȤϳΤ̤θ̤롣ܤγϤ
äƤ뤳ȤФפƻڤˤʤäƤ롣

Ǥǧ­Ƚ̾1̤ˤ
롣Ȥäơ1㤤ʤɤȤȤϤ
㤨С0.9ξˤϡ10Ȥʤ櫓
Ǥ뤫顣

ϡޤǤ򤷤ǡǤ⡢
̤ȤΤϴεǤꡢ󥺼Ȥ⡢Ϥ
23٤ˤʤʤȤǧƤȼĥ٤Ǥ
ä


ӡʾ³ȻԾ줬ŤʤȤ褯ʤ


ƥӤε;夲ʤΤϡΤʬ
䤹Ǥ뼫ʤäǤ礦ޤʤ
Ƥ⡢äʬäƤ館ʤĤޤİΨԤ
ȡ


ӵİ򤷤ƤΤȻפäå򤪴ꤤ

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͵blog󥭥󥰤

Υȥ꡼ϤƤʥ֥åޡɲ

ХΤ̶Ԥޤ

ǽδۤϡĹäȡ1֤ڤĶƤޤ

ǡƤϡͽ̤ۤѤʤɷкѤä̤ܶǤ͢
нŻȤϤäޤƤ⤤ޤǤ⡢5
ǯ֤͢гۤ2ܤˤΤȤ

Madame Speaker, Vice President Biden, Members of
Congress, distinguished guests, and fellow Americans:

ά

Again, we are tested.  And again, we must answer
history’s call.

ֲ桹ϻƤ롣桹ˤ䤤ʤФʤʤ

One year ago, I took office amid two wars, an economy
rocked by severe recession, a financial system on the
verge of collapse, and a government deeply in debt.
Experts from across the political spectrum warned that if
we did not act, we might face a second depression.  So
we acted – immediately and aggressively.  And one year
later, the worst of the storm has passed.

1ǯĤαˤäơкѤϿʷʵ˴٤ä
ͻƥǡܤϹĤƤ
˻˽Ȥϡ⤷ư˽ФʤΤǤС
網ˤʤ뤫⤷ʤȷٹ𤷤ǡľˡ
˲̴˹ưΤ1ǯǰϲ᤮äƤ

But the devastation remains.  One in ten Americans still
cannot find work.  Many businesses have shuttered.
Home values have declined.  Small towns and rural
communities have been hit especially hard.  For those
who had already known poverty, life has become that
much harder.

֤ҤϻĤäƤ롣10ͤ1ͤι̱ϤʤĤ
¿ξŹϡŹޤޤʤϲĮ
ˤäﳲ礭˳Ǥä͡ˤȤäƤϡϤ
ΤȤʤäƤ

This recession has also compounded the burdens that
America’s families have been dealing with for decades –
the burden of working harder and longer for less; of being
unable to save enough to retire or help kids with college.

֤ηʵˤꡢ̱ӤĹǯɤäƤôϤŤʤä
롣¿ƯƤ⡢ѤäƼϸäƤ롣࿦Τߤ뤳
ȤǤޤҶοʳؤΤߤ뤳ȤǤʤǤ

So I know the anxieties that are out there right now.
They’re not new.  These struggles are the reason I ran for
President.  These struggles are what I’ve witnessed for
years in places like Elkhart, Indiana and Galesburg,
Illinois.  I hear about them in the letters that I read each
night.  The toughest to read are those written by children
– asking why they have to move from theirhome, or when
their mom or dad will be able to go back to work.

ֻϡˤ԰¤ΤƤ롣԰¤ܿ
ǤϤʤ񤬡䤬Ω䤷ͳ
򡢥륯ϡȤ䥤ǥʤ䥲륹С䥤ΥĹǯ
Ϥܷ⤷ƤΤĤơռɤ
֤Ĥ餫äΤϡμ椬Ҥɤ⤬񤤤ΤǤäȤ
ȤΰñۤʤФʤʤΤɿ
ȡ

For these Americans and so many others, change has not
come fast enough.  Some are frustrated; some are angry.
They don’t understand why it seems like bad behavior on
Wall Street is rewarded but hard work on Main Street
isn’t; or why Washington has been unable or unwilling to
solve any of our problems.  They are tired of the
partisanship and the shouting and the pettiness.  They
know we can’t afford it.  Not now.

֤̱ˤȤäơѲϵäƤʤߵˤʤäƤ
⤤뤷ܤäƤԤ⤤롣ˤϡ륹ȥ꡼ȤǤϡ
򤷤Ƥ󽷤館ΤˡºݤμҲǤϰ̿ƯƤ
ʤΤʬʤ ϡɿ褤˷
Ƥ롣ϲ桹ˤ;͵ʤȤΤäƤ롣ϤǤʤ

So we face big and difficult challenges.  And what the
American people hope – what they deserve – is for all of
us, Democrats and Republicans, to work through our
differences; to overcome the numbing weight of our
politics.  For while the people who sent us here have
different backgrounds, different stories and different
beliefs, the anxieties they face are the same. The
aspirations they hold are shared.  A job that pays the
bills.  A chance to get ahead.  Most ofall, the ability to
give their children a better life.

֤ǡ桹ϡľ̤ƤȤȤ̱˾Τϡ
桹ƤĤޤ̱ޤⶦޤ⡢㤤ĶƶϤ򤹤Ȥ
ȤơνŲ٤ǤĤȤΤʤС桹򤳤
Ф̱ΥХå饦ɤ修ǰϤ줾ۤʤΤΡ
ľ̤Ƥ԰¤ϡƱΤǤ뤫˾ߤ϶
ڶʧȤǤŻʤεǤ⡢Ҷˤ
褤餻뤳ȤΤǤǽϡ

You know what else they share?  They share a stubborn
resilience in the face of adversity.  After one of the most
difficult years in our history, they remain busy building
cars and teaching kids; starting businesses and going
back to school.  They’re coaching little league and helping
their neighbors.  As one woman wrote me, “We are
strained but hopeful, struggling but encouraged.”

¾ˤɤʤȤ̤Ƥ뤫ϡնˤäƤ⶯٤
ͭƤΤǤ⺤ʰǯвᤷơϼư֤³
Ҷ򶵤Ƥ롣ޤϤᡢؤƤ롣ҶΥ
򤷤ꡢοͤμ򤷤Ƥ롣1ͤν˼
򤯤줿桹ϡƤޤä˾äƤ롢⤬Ƥ뤬
ͦŤƤ롢ȡ

It is because of this spirit – this great decency and great
strength – that I have never been more hopeful about
America’s future than I am tonight.  Despite our
hardships, our union is strong.  We do not give up.  We
do not quit.  We do not allow fear or division to break our
spirit.  In this new decade, it’s time the American people
get a government that matches their decency; that
embodies their strength. 

֤Ǥ롣餷϶ˤäơϡۤɴ˾
ƤϤʤΤǤ롣ɤʤ˺ǤäƤ⡢桹ι϶
Τ桹ʤ桹ϻߤʤ桹϶ݤ桹ε
äȤʤ̱̱ܤ
ȤʤΤ

And tonight, I’d like to talk about how together, we can
deliver on that promise.  

It begins with our economy.

ֺϡ桹ǡˤƶϤ«̤ΤȤä򤷤
кѤäϤ褦

Our most urgent task upon taking office was to shore up
the same banks that helped cause this crisis.  It was not
easy to do.  And if there’s one thing that has unified
Democrats and Republicans, it’s that we all hated the
bank bailout.  I hated it.  You hated it.  It was about as
popular as a root canal.

ֲ桹˽ΰֶ۵ޤλŻϡδ
ȤʤäԤٱ礹뤳ȤǤäưפȤǤϤʤ
⤷̱ްȶްĤˤΤȤС
ϡ桹Ƥ϶ԵߺѤȤȤ
ɤƱۤɿ͵Τ뤳Ȥ

But when I ran for President, I promised I wouldn’t just
do what was popular – I would do what was necessary. 
And if we had allowed the meltdown of the financial
system, unemployment might be double what it is today.
More businesses would certainly have closed.  More
homes would have surely been lost.

֤ΤΩ䤷Ȥ«͵뤳ȤϤ
ʤȡɬפʤȤΤ⤷ͻƥƨ
ޤäƤ顢Ψϸߤ2ܤˤʤäƤ⤷ʤä
¿ŹŹƤä¿νȤˤʤä

So I supported the last administration’s efforts to create
the financial rescue program.  And when we took the
program over, we made it more transparent and
accountable.  As a result, the markets are now stabilized,
and we have recovered most of the money we spent on
the banks.

֤ǡͻߺѺȤȤˡϻٻ򤷤
ơεߺѺ桹ѤȤ桹ϤƩ
ǡǤΤΤˤη̡Ծϰꤷơ
䤷¿ᤷΤ

To recover the rest, I have proposed a fee on the
biggest banks.  I know Wall Street isn’t keen on this idea,
but if these firms can afford to hand out big bonuses
again, they can afford a modest fee to pay back the
taxpayers who rescued them in their time of need.

ֻĤ᤹˻ϡᥬХ󥯤˲ݶ⤹뤳ȤƤƤ롣
륹ȥ꡼ȤΰƤǮǤʤΤΤäƤ뤬
ԤۤΥܡʥٵ뤹;͵ΤǤСɬפʻ
ߺѤǼǼԤˡϤФΤ֤;͵ϤϤ

As we stabilized the financial system, we also took
steps to get our economy growing again, save as many
jobs as possible, and help Americans who had become
unemployed.

ֲ桹ϡͻƥ경ơкѤƤĹ
ǽʸ¤¿ο¤ȤƤ̱뤿֤
Ƥ

That’s why we extended or increased unemployment
benefits for more than 18 million Americans; made health
insurance 65% cheaper for families who get their coverage
through COBRA; and passed 25 different tax cuts.

֤顢桹ϡ1800Ͱʾι̱Ф뼺ݸȽ
ΤơCOBRA̤ݸŬѤ²ΰݸ
65¤Τơ25ܤθˡƤ̤Τ

Let me repeat:  we cut taxes.  We cut taxes for 95% of
working families.  We cut taxes for small businesses.  We
cut taxes for first-time homebuyers.  We cut taxes for
parents trying to care for their children.  We cut taxes for
8 million Americans paying for college.  As a result,
millions of Americans had more to spend on gas, and
food, and other necessities, all of which helped
businesses keep more workers.  And we haven’t raised
income taxes by a single dime on a single person.  Not a
single dime.

֤⤦ٷ֤ȡ桹ϸǤ򤷤ΤϫƯԲ²95
ФǶΤƽԤФǤ
äҶΰΤ˸Ǥ򤷤ؤγʧäƤ800
ͤι̱˸Ǥ򤷤η̡ɴͤι̱俩
Ȥ䤽¾ɬʤ¿ȤȤǤˤäƾŹϡ
¿οͤۤȤǤΤ桹ϡǤïФƤ⡢
ΰ夲Ƥʤ

Because of the steps we took, there are about two
million Americans working right now who would otherwise
be unemployed. 200,000 work in construction and clean
energy.  300,000 are teachers and other education
workers.  Tens of thousands are cops, firefighters,
correctional officers, and first responders.  And we are on
track to add another one and a half million jobs to this
total by the end of the year.

֤֤η̡200ͤι̱ʤмȤƤ
ΤˡƯƤΤߤȥ꡼󥨥ͥ륮ط20͡
ʤɶط30͡ٴɻΡǼ顢ߵ˲ͤ
εϤǡơǯޤǤ150ͤۤɤɲäͽǤ

The plan that has made all of this possible, from the tax
cuts to the jobs, is the Recovery Act.  That’s right – the
Recovery Act, also known as the Stimulus Bill. Economists
on the left and the right say that this bill has helped
saved jobs and avert disaster.  But you don’t have to take
their word for it.

ָǤѤϽФޤǡȤǽˤΤϡˡʥꥫ
Х꡼ȡˤǤ롣ʵɷˡȤƤΤƤ롣кѳؼԤϡ
ΩμԤ⡢ˡΧϡѤ礤ΩäȸäƤ롣
ɬפϤʤ

Talk to the small business in Phoenix that will triple its 
workforce because of the Recovery Act. 

֥ե˥åξʾŹä򤷤Ƥ졣ξŹϡˡΧΤ
ǽȰ3ܤˤ

Talk to the window manufacturer in Philadelphia who
said he used to be skeptical about the Recovery Act, until
he had to add two more work shifts just because of the
business it created.

֥եǥեȶȼԤä򤷤Ƥ졣ϡˡΧ˲Ū
䯯2䤷Τ

Talk to the single teacher raising two kids who was told
by her principal in the last week of school that because of
the Recovery Act, she wouldn’t be laid off after all.

ͤλҶƤƤȿȽä򤷤Ƥ졣ϡĹ
轵ˡΧΤDzۤ뤳ȤϤʤʤäʹ줿

There are stories like this all across America.  And after
two years of recession, the economy is growing again. 
Retirement funds have started to gain back some of their
value.  Businesses are beginning to invest again, and
slowly some are starting to hire again. 

֤Τ褦äꥫڤˤΤʵ˴٤äƤ2ǯ
ФкѤϤޤĹϤƤ롣࿦եɤ⤽βͤ
ϤƤ롣ͤϡƳ˸ѤƳƤ

But I realize that for every success story, there are other
stories, of men and women who wake up with the
anguish of not knowing where their next paycheck will
come from; who send out resumes week after week and
hear nothing in response.  That is why jobs must be our
number one focus in 2010, and that is why I am calling for
a new jobs bill tonight.

֤Ԥääǡʤä⤢뤳Ȥ
ΤƤ롣ī餬ɤ˸ۤ뤳ȤˤʤΤΤ뤳Ȥʤ
ܤФޤˤȽ뤳Ȥ轵轵³Ƥ뤬
Ϥʤ顢Ѥ2010ǯͥˤʤʤФʤ
ΤǤ롣ޤ顢ˡƤΤǤ


䤳ε񤤤ˡпʹͼɤߤޤȤ
ϸ򤷤ƤޤäȻפޤ褯äƤ뤳ȤǤ

ФϼΤ褦ˤʤäƤޤּ뤫狼
ʤȤˤܤФޤ

paycheckȤΤϡǤϤʤڼȤȤǡεͿ
ʧɤԤ뤫ʬʤǡŤȤ̣ǤϤʤǤ礦

ά

Third, we need to export more of our goods.  Because
the more products we make and sell to other countries,
the more jobs we support right here in America.  So
tonight, we set a new goal:  We will double our exports
over the next five years, an increase that will support two
million jobs in America.  To help meet this goal, we’re
launching a National Export Initiative that will help
farmers and small businesses increase their exports, and
reform export controls consistent with national security.

3ˡ桹ϡäȲ椬ʤ͢Фɬפ롣ä¿
ʤꤽơ¾褦ˤʤФʤۤɡ桹ϱס¿
θѤٱ礹뤳Ȥˤʤ롣麣롢桹Ͽɸߤ롣
桹ϡ5ǯ֤͢Ф2ܤˤ롢ȡϡ2ɴͤθѤ
ϽФǤɸãٱ礹뤿ᡢ桹ϡ͢
ײ򳫻Ϥ롣ϡȤٴȤ͢Ф򤹤Τٱ礷
Ȥΰݾ˱ä͢дԤΤǤ

We have to seek new markets aggressively, just as our
competitors are. If America sits on the sidelines while
other nations sign trade deals, we will lose the chance to
create jobs on our shores. But realizing those benefits
also means enforcing those agreements so our trading
partners play by the rules. And that’s why we will continue
to shape a Doha trade agreement that opens global
markets, and why we will strengthen our trade relations in
Asia and with key partners like South Korea, Panama, and
Colombia.

ֲ桹ϡԾѶ˲̴˵ʤФʤ桹ζ
꤬äƤ褦ˡ⤷ƹ񤬤äȤƤС桹ϸϽ
ε򼺤äƤޤȤ¸뤿ˤϡ桹
꤬롼˽äƹư褦˹դ뤳ȤɬפǤ롣
顢桹ϡɡϥ饦ɤιշϤ³ΤǤꡢ
ιդˤäƻԾͤΤǤ롣ޤ桹
ϡˤǰ״ط򶯲褦ȤƤΤǤꡢڹ
ʥޤ䥳ӥΤ褦ʥѡȥʡȤδط򶯲褦ȤƤΤ


ʲά


ʾǤ

͢нŻȤǤʤ5ǯ֤͢Ф2ܤˤȸ
ΤϡˤƶŪɸȸǤ礦

Ф̱ڤ夲Ϥޤꤽʡš
ơɥ¤®ʡš


͢нŻäФȤϡͽۤƤʤäȤ
򤪴ꤤޤ
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Υȥ꡼ϤƤʥ֥åޡɲ

ۤεԲ񸫤ޤϡ
񸫤ƤåƤߤ뤳Ȥˤޤ

ۤϸޤϲǤ롪פȡ

ηкѤĹ줬ʹ¦͢Ф
ˤƶͿ뤫ȡ

Τˡ

2009ǯ10-12μ¼GDPϡǯƱ
10.7⿭ӡ2009ǯǯǤ8.7⿭ӤƤޤ

ǡܤؤαƶϤȤС

ȯɽˤʤä椬12͢ФϡǯƱ
12.1ä54128ߤäΤǤǯƱǥ
饹ˤʤΤϡʤ15֤ΤȤʤΤǤäơ

͢ФοΨǯƱˤοܤߤƤߤޤ

2008ǯ1248305ߡ-35.0
2009ǯ0134804ߡ-45.7
2009ǯ0235264ߡ-49.4
2009ǯ0341838ߡ-45.5
2009ǯ0441958ߡ-39.1
2009ǯ0540204ߡ-40.9
2009ǯ0645995ߡ-35.7
2009ǯ0748440ߡ-36.5
2009ǯ0845104ߡ-36.0
2009ǯ0951102ߡ-30.6
2009ǯ1053085ߡ-23.2
2009ǯ1149906ߡ -6.3󡡡
2009ǯ1254128ߡ 12.1


ǡǤ礦椬͢ФϡǯƱǤߤƺ
50᤯ȤäΤǤ11ˤ
ˤޤꡢơ12ˤϥץ饹žƤ
ΤǤ

ǤϡɤܤӤƤΤȤСͿٽ¤
ȡš
ȾƳŻʡư֤ʬʡƥץ饹
Ǥ

Ǥϡϰ̤Ǥϡ

ƹؤ͢Фϡޤץ饹ˤžƤޤ󡣤EU
ϡ17˥ץ饹ˤʤꡢƲؤ͢
ФӤƤޤ12͢Ф42.6⿭ӡ2
Ϣ³Υץ饹ǤȤ


ȤȤǡۤθäȤäƤȤ
ʤ󤫡褬뤯ʤä褦ʵޤ

ʪθ̤ϡɤʤΤǤ礦

09ǯ١-1.5
10ǯ١-0.5
11ǯ١-0.2

ĤޤꡢФ餯ϥǥեĴ³ȤȤǡʵ®
뤳ȤϤʤǤ͡

ۤϡƹοͻפˤĤƤʹƤ

¾θ˥ȤΤϺפȸ
ġΤ褦ʤȤäƤޤ

֤궯ǤʶͻƥιۤͭȤߤǤ뤳ȡ

ȤȤϡΥܥ륫롼򤢤ɾȤ
ȤǤ礦

֥ޥкѤͻưβ˳ʤ褦θ뤳
ȡסֵĤθľ䥿ߥ󥰤˴ؤƽݤ
ȡšפȤäƤޤ

ͻפˤĤƤϡŪʸ̤ˤ⽽ʬθ
ơտ»ܤ뤳ȤɬפȸäƤ褦ˤʹ

 

ǰפΥ˥塼ϡס뤤˥塼Ȼפ
å򤪴ꤤޤ
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Υȥ꡼ϤƤʥ֥åޡɲ

ХλٻΨꤸ㲼Ƥޤ

Τʵ˲ʤ餫Ѿ
ʤ餫

ϡͳȻפΤǤ줷Ƥ
Ψ㲼ΰӤéäƤ롢ȡ

ʤȤʤȤʤΤˡХΤϤɤ
ܵΤޤ󤬡륹ȥ꡼Ȥ˸褦
ʤäƤޤ̱齸᤿¶굡򤹤褦ʤȤϻ
ơԤʾ礭ʤꤹ뤳Ȥǧʤ
ȡ

ǤϤޤ󡣤Ϥꡢ̱ˤäľܥ
åԡ뤹褦ʤȤ򤷤ʤȤʤȡܤ̱ޤ
򤹤櫓ǤʤΤǤ礦⡢̱褬
ȸäƤ褦ʤΤǤ

ȤȤǡХϡήӤλٱǤФޤ

ǯ85ɥʲӤˤĤơҰѤǹ
ۤ礹롣

ֺѳۤ˾¤ߤǯ
1/10ʲȤ롣

࿦٤ͭƤʤѼԤФ࿦Ω٤ؤ
ư̳դ롣

࿦ߤǹۤ礹롣

κԤäƤӤؤλٱ礹


ʤ󤫡ƹФ黵꤬ޤȤȤǤ礦

ХΤϡήӤ褬ľ̤Ƥ
꤬褹Ȥϻפʤľ˸äƤޤ

So we're going to keep fighting to rebuild our
economy so that hard work is once again rewarded,
wages and incomes are once again rising, and the
middle class is once again growing. And above all,
we're going to keep fighting to renew the American
Dream and keep it alive -- not just in our time, but
for all time.

֤顢桹ϷкѤΩľ襤³Τ
С̿ƯФޤ󽷤졢ơήӤ
ޤĹ롣ʤǤ⡢ꥫɥ꡼ɤ餻뤿ˡ
ƥꥫɥ꡼ब桹λǤϤʤʱ¸
³뤿ˡ桹襤³ΤǤ

ХΤФȷϲȸΤǤ礦

֤ɤäƲפǤ礦


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褦Ǥ

Ǥ⡢ΤСʥ󥭵ĹκǤˤĤƤϡǯ8
ХΤٻɽ򤷡˷ޤäȤȻפäƤ
Ǥ

ɤΥޥ塼åĤǤξ屡̱ޤ
̤Ȥ֤äˤʤäȤ

ХΤϤ⤢ꡢϤǥСʥ󥭵Ĺ
Ǥμ¤ˤʤꤽʵۤǤ轵ϡ̱޵İ
Сʥ󥭵ĹǤȿФ夬äƤΤ

ǤϡСʥ󥭵ĹκǤȿФİϡǡʤ
ͳȿФ򤹤ΤιͤåƤߤޤ礦


СХ顦ܥ屡İ

“I have a lot of respect for Federal Reserve
Chairman Ben Bernanke. When the financial crisis hit
in late 2008, he took some important steps to
prevent what many economists believe could have
been an even greater economic catastrophe.

ϢΥСʥ󥭵ĹˤĤƤϡºɤƤ롣2008
ǯ˶ͻȯȤϷкѤ򾷤
ʤ¿ΥΥߥȤȤλ֤򤹤뤿
פкä
 
“However, it is time for a change – it is time for Main
Street to have a champion at the Fed. Dr. Bernanke
played a lead role in crafting the Bush
administration’s economic policies, which led 
to the current economic crisis. Our next Federal
Reserve Chairman must represent a clean
break from the failed policies of the past.”

֤󥸤λǤ롣֥åˤƷк
ꤹǥСʥΤƳṲ̄ơ
ηкѴ򾷤ΤǤ롣¶ȳϡϢ
˥ԥ֤ȤʤΤ桹μϢĹϲ
ԤȤ̵οͤǤʤФʤʤ


ǡǤ礦

Сʥ󥭵ĹͥȹưϤǧ롢֥å
ηккѴ򾷤ηкä
Сʥ󥭵ĹšȤΤΤ褦Ǥ

Ƥߤ顢̤꤫⤷ޤ󡣥Сʥ󥭵Ĺ
ϡ֥åλFRBεĹ˻̾줿ΤǤ
ơХ֥кѤȯ˥Сʥ󥭻ͿƤ
Ȥϴְ㤤Τʤ¤Ǥ礦

2007ǯ8˥ѥСåȯƤƯ
֤ϡ礤ɾƤ٤Ǥ礦
ˡ⤷
ǤݤȤơɤʿͤŬǤȤΤǤ礦


Сʥ󥭵ĹκǤˤĤơäȿȽƤ
⤤ޤ

饹ե󥴡ɾ屡İ

“A chief responsibility of the Chairman of the Federal
Reserve is to ensure a sound financial system. Under
the watch of Ben Bernanke, the Federal Reserve
permitted grossly irresponsible financial activities
that led to the worst financial crisis since the Great 
Depression. Under Chairman Bernanke’s watch
predatory mortgage lending flourished, and ‘too big
to fail’ financial giants were permitted to engage in
activities that put our nation’s economy at risk. And
as it responds to the crisis it helped to usher in, the
Federal Reserve under Chairman Bernanke’s
leadership continues to resist appropriate efforts to
review that response, how taxpayers’ money was 
being used, and whether it acted appropriately.
When the full Senate considers his nomination,
I will vote against another term for Chairman
Bernanke.”

ϢĹμ̳ϡʶͻƥμ¤ʤΤ
뤳Ȥ٥󡦥Сʥ󥭻δĤβǡϢ̵
Ǥʶͻؤγưˤä網κǰ
ͻ˻餷᤿Сʥ󥭵ĹδĤβǡ夤
Τ򿩤ʪˤ褦ʽͻ񤬲Ԥơ礭᤮
٤ʤץᥬХ󥯤ηкѤ˻褦ʹ԰٤˽
뤳ȤơϢ䤬äδн褹
ȤСʥ󥭵ĹΥ꡼åפβˤäϢϡ
ľᡢϡǼǼԤΤ⤬ǡ˻ȤƤ
뤫ľᡢϡϢ䤬Ŭڤ˳ưƤ뤫ɤ
ľŬȻפϤԤȤ񹳤³Ƥ
屡ǤƤȤϡСʥ󥭵Ĺκ
Ǥȿɼꤸ


Ѥ˸ոǤ⤢̣äƤʤ櫓
ǤϤޤ

Ǥ⡢ˤΰոǤȤС꡼󥹥ѥ
ĹϡޥȥȾΤɤĹʤ
ʤФʤޤ󤷡ơޤĹϡ
륫ᤫܥ륫Ʊ褦ʹͤοͤǤȤȤ
ʤǤ礦

ˤƤкν˴ؤƽפʤȤϡ
޷ѹϷ褷ƹޤ̤⤿餵ʤȤ
Ǥ

椬20ǯۤ˥Х֥뤬ȯ⡢Τ
Ͼ夲֡Ƥޥ˹;ˤñ
ȿȤäΤǤͻؤưͻ
ΤϴְäǤϤʤäȻפΤǤ;
ˤޥ֥졼򤫤᤮Ȥ̤Ȥƺǰλ֤򾷤
ȡ


ˤƤ⡢ϡСʥ󥭵ĹκǤ˴ؿ
Ǥ礦Сʥ󥭻ϡץȤˤ
Ȥ뤫⤷ޤ


뤫⤷ʤŪˤϥСʥ󥭻᤬Ǥ
ǤȻפå򤪴ꤤޤ
↓↓↓
͵blog󥭥󥰤

Υȥ꡼ϤƤʥ֥åޡɲ

ǯ1212Spiegel Online˷Ǻܤ줿󥿥ӥ塼
Ǥ


SPIEGEL: You have been clear about your ideas. Do
you really believe we have to break up the big banks
in order to create a more sustainable financial
system?

Τʤͤ褦ϡäȻ³ǽʶͻ
ƥˤ뤿˲桹ϥᥬХ󥯤ʬ䤹٤Ǥ롢
˻פΤ


 Volcker: Well, breaking them up is difficult. I would
prefer to say, let's just slice them up. I don't want
them to get heavily involved in capital market
activities so my view is: Hedge funds, no. Equity
funds, no. Proprietary trading, no. Trading in
commodities, no. And that in itself would reduce the
size of the big banks. So you get some reduction 
in size. Equally important, you make them more
manageable and easier to deal with if they do get
in trouble.

֥ᥬХ󥯤ʬ䤹Τ񤷤षԶȤڤˤ
ȸäϡ餬Ծư˴ؤ᤮ˤ
뤳Ȥ򹥤ޤʤιͤȤƤϡإåեɤϥΡ̤
եɤϥΡʴΥǥ󥰤ϥΡ켡ʤ
ΡʤȡᥬХ󥯤εϤϾʤǤ
餫ϤʤǤƱͤ˽פʤȤϡ
뤳Ȥˤäơ⤷ᥬХ󥯤ηбĤˡн褷
䤹ʤȤȤ

SPIEGEL: Banking should become boring again?

ֶԶȤޤʤΤˤʤΤ

Volcker: Banking will never be boring. Banking is a
risky business. They are going to have plenty of
activity. They can do underwriting. They can do
securitization. They can do a lot of lending. They can
do merger and acquisition advice. They can do
investment management. These are all client
activities. What I don't want them doing is piling on 
top of that risky capital market business. That also
leads to conflicts of interest.

ֶԶȤϷ褷ˤϤʤʤԶȤϥꥹȼӥ
ͥ줫͡ʳưʬĤǤ
̳ԤȤǤ뤷ڷԤ롣ͻưԤ뤷
M&A⡢⡣ƸܵҤΤγư䤬
ˤߤʤȤϡꥹι⤤Ծӥͥ礵
뤳Ȥ뤳ȤϡȿˤĤʤ


ܥ륫ΤոϤ褯ʬޤ

1929ǯ˵äԾ˽ȯüˤ網
ơƹ1933ǯ˥饹ƥˡΩ
ĤޤꡢȶԤԤʬΥ뤳Ȥˤʤä
ȡ椬⡢襤ʬΥԤ줿櫓Ǥ

Υ饹ƥˡϡ1999ǯΩ
ࡦ꡼֥饤꡼ˡˤäѻߤƤޤΤǤ
ơ¸ΤΤ褦˶ͻؤ굡Ūưסȯ
äȡ

ơΥܥ륫롼ơޤˤϷ
饹ƥˡȤȤʤΤǤ


ᥬХ󥯤ϡˡȴƻõΤʡȻפ
å򤪴ꤤޤ
↓↓↓
͵blog󥭥󥰤

Υȥ꡼ϤƤʥ֥åޡɲ

ˤƤ⥪ХޥåϡޡåȤѤʾ׷Ϳ
Ƥ褦ǡšǤ⡢ͤƤߤ顢äȤʤȤǤ

ХΤϸޤþˤʤäǼǼԤΤ
ˤäƵߺѤᥬХ󥯤굡Ūʹ԰٤ΤϤ
ȡ

ԡʤλҡˤإåեɤ̤եɤ
ͭꡢϼʴ굡Ū򤹤Τ϶ؤ롢ȡ
ܥ륫롼ȸƤӤȸޤ

ܥ륫ϡ1927ǯ9ޤ82СĹ2᡼ȥ
ȤˤǤꡢ1979ǯ1987ǯˤFRB
Ĺ̳ޤܥ륫᤬FRBεĹ˽Ǥ
ƹϥեǺޤƤޤܥ륫Ĺû
ǹ20ˤޤǰ夲ơեä뤳Ȥ
Ȥͭ̾Ǥޤ줬˸ܥ륫å

Υܥ륫ΰոѤΤΥХ
ζͻװƤʤΤǤ

ǡäޤΥޡåȤ˾׷Ϳ

ϡ⤷ܥ륫롼뤬Ѥ뤳ȤˤʤСᥬ
Х󥯤ϡķؤμ¤ǽ
뤫ǤĤޤꡢӥåץ쥤䡼ǡԾ줫Ѥä
Ȥˤʤ롢ȡƤޤᥬХ󥯤ǥ
󥰤ԤȤػߤС礭ʼ׸ƱӼ
ȤȤǡԡʻҡˤγϲ
롢ȡ


ǤϡΥХΤζͻװƤϼ¸Τ

ХΤϡ˥륹ȥ꡼Ȥӥ󥰳ư򤷤
Ƥȸεʤ鼫ʬ臘ѰդȤ
ǸäƤޤ

Ǥ⡢륹ȥ꡼¦⡢ʬ˵ۤ⤿
׸򤽤ñ˼Ȧޤ󡣶餯Ű칳
ʤǤ礦

ХΤܥ륫᤬ȤǤҤ
˾ƤСԤγʵڤӷбĿؤǥ顼ˤפˤʤ
ǡҤ餱þˤʤäȤˤϡǼǼԤ
ôˤʤΤϤȡ

ΤˤǤ礦ХΤܥ륫ϡǤ
굡ŪػߤȤϸäƤʤΤǤΤʤ鼫ʬ
Ǥǥեˤ졢ȡ»򤷤ȤˤΥĥǼǼ
ʧ碌ΤϥեǤϤʤǤϤʤȡ

ޤХ륹ȥ꡼¦ʤʤȿϤ
ʤΤǤϤʤǤ礫Ǥ⡢ϼ׸Ϥ
Ǥϡɤ뤫餯ܥ륫롼ˤäƶػߤ
إåեɤ̤եڤΥΩ
Ҥߤ뤳ȤˤʤΤǤϤʤǤ礦ʤƤ
Ūˤ϶ԤȤδطǤڤꡢŪʴطʤ롢ȡ

ȤȤǡޤǤɤƹϥηкѤѿȤ뤳
ϤʤǤ礦Ĥޤꡢ줫Х֥뤬
륵򷫤֤ȡΰǡԤ굡Ū
礭¤뤳ȤˤʤꡢŪʶ̳ΤߤԤ褦
̣¸ߤˤʤäƤΤǤϤʤǤ礦

ˤƤ⺣奪ХΤȥ륹ȥ꡼ȤΥХȥ
Ÿ뤳ȤˤʤǤ礦

ơG7ξǤ⤳ΥХΤζͻװƤ
Ǥ礦ܤϡ̳꤬äΤǤ
ȶͻʬΥ򤢤ĥƤϡɤʵ
Ƕͻ뤳ȤˤʤΤǤ礦

 

ˤƤ⡢ס椬Ȼפå򤪴
ޤ
↓↓↓
͵blog󥭥󥰤

Υȥ꡼ϤƤʥ֥åޡɲ

121ƹǤϥХΤͻˡƤȤȯ
ɽޤ
īˤϿƤȤơͽۤ
ȤҲ𤵤
ޤۥ磻ȥϥΥȤ˥
ȡºݿʹͽ
ۤƤޤƤޤ

äĹʤꡢƱʸ򤨤Ѷ̤ǤХ
ΤɤʤȤäΤä긫Ƥߤޤ礦Ѹ
η
ϡܸΤɤ߿ʤDz

Good morning, everybody.  I just had a very productive meeting
 
with two members of my Economic Recovery Advisory Board:
 
Paul Volcker, who's the former chair of the Federal Reserve
 
Board; and Bill Donaldson, previously the head of the SEC.
 
And I deeply appreciate the counsel of these two leaders and
 
the board that they've offered as we have dealt with a broad
 
array of very difficult economic challenges. 

ֻϡкѲĤ2ͤΥСѤŪʲĤ
ȤFRBĹΥݡܥ륫SECθѰĹΥӥɥ
ɥͤζϤ˿դȤȤˡѤ˺
кνϤǤĤФƴդ


Over the past two years, more than seven million Americans have
 
lost their jobs in the deepest recession our country has known
 
in generations.  Rarely does a day go by that I don't hear from
 
folks who are hurting.  And every day, we are working to put our
 
economy back on track and put America back to work.  But even
 
as we dig our way out of this deep hole, it's important that we
 
not lose sight of what led us into this mess in the first place.

ֲ2ǯ֤δ֤ˡ7ɴͤĶ̱Ǥ⿼ʷʵΤʤ
򼺤ä͡äƤȤäʹʤʤ1ʤ
ơ桹кѤ͡褦Ϥ
Ƥ롣κ𤫤ΩľϤ򤹤ȤƤ⡢褺ï
ʺ˴٤줿Τ򸫼ʤ褦ˤ뤳Ȥפ


This economic crisis began as a financial crisis, when banks
 
and financial institutions took huge, reckless risks in pursuit
 
of quick profits and massive bonuses.  When the dust settled,
 
and this binge of irresponsibility was over, several of the
 
world's oldest and largest financial institutions had collapsed,
 
or were on the verge of doing so.  Markets plummeted, credit
 
dried up, and jobs were vanishing by the hundreds of thousands
 
each month. We were on the precipice of a second Great
 
Depression.

֤ηкѴ϶ͻȤƻϤޤäԤͻؤûŪ
פɤᡢƵۤΥܡʥ뤿ˡ礭ʤ
̵ŤʥꥹäȤϤޤäХ֥ꡢ̵
ǤȤäȤˡκǤˤΤ롢ƺǤ
礭ʶͻؤδĤþþԾ
Ѥϸϳ餷ƿñ̤ǾäƤä桹ϡ
網Τäפˤ


To avoid this calamity, the American people -- who were already
 
struggling in their own right -- were forced to rescue financial
 
firms facing crises largely of their own creation.  And that
 
rescue, undertaken by the previous administration, was deeply
 
offensive but it was a necessary thing to do, and it succeeded
 
in stabilizing the financial system and helping to avert that
 
depression.

֤维򤹤뤿ˡʬϤǴˤ⤬ϤƤ̱
ϡʬľ̤ƤͻؤߺѤ
äˤäƻϤ줿ͻؤεߺѤϡԲʤΤǤ
äʤФʤʤΤǤäơͻƥ
경򤹤뤳ȤǤ


Since that time, over the past year, my administration has
 
recovered most of what the federal government provided to banks.
 
And last week, I proposed a fee to be paid by the largest
 
financial firms in order to recover every last dime.  But
 
that's not all we have to do.  We have to enact common-sense
 
reforms that will protect American taxpayers and the
 
American economy  from future crises as well.

֤λ衢ƺǯˤơ郎ܤԤ˶Ϳ
¿ƤǽʬǤϤʤ
ϡꥫǼǼԤ򡢤ƥꥫηкѤƱͤξδ
뤿ξQŪʲפΩˡʤФʤʤ


For while the financial system is far stronger today than it
 
was one year ago, it's still operating under the same rules
 
that led to its near collapse.  These are rules that allowed
 
firms to act contrary to the interests of customers; to conceal
 
their exposure to debt through complex financial dealings;
 
to benefit from taxpayer-insured deposits while making
 
speculative investments; and to take on risks so vast that
 
they posed threats to the entire system.

ֶͻƥϡǯ٤ФϤ뤫˶ǤˤʤäƤƤ
ؤƱ롼ˤäƺǤⱿĤƤ롣
롼뤳ܵҤפȿ褦˹ưΤ
ꡢơʣʶͻˤäߥꥹ餫
ʤǺѤޤơ굡ԤĤǼǼԤݾڤ¶⤫
פᡢơͻƥΤ˻ۤ礭
ꥹ餻ΤǤ


That's why we are seeking reforms to protect consumers; we
 
intend to close loopholes that allowed big financial firms to
 
trade risky financial products like credit defaults swaps and
 
other derivatives without oversight; to identify system-wide
 
risks that could cause a meltdown; to strengthen capital and
 
liquidity requirements to make the system more stable; and
 
to ensure that the failure of any large firm does not take
 
the entire economy down with it.  Never again will the American
 
taxpayer be held hostage by a bank that is "too big to fail."

֤餳桹ϾԤ뤿βפƤΤ
쥸åȥǥեȥåפ䤽ʳΥǥХƥ֤Τ褦ʥꥹ
ʶͻʤμ礭ʶͻؤɤδĤʤ˹Ԥ
ǽʤ餷᤿ȴɤΤ򾷤褦
ʥƥΤΥꥹȤϲ餫ˤΤͻ
ꤷΤˤ뤿˻׷ήư׷򶯲
ΤơǡʤʶͻؤþȤɤк
򤽤˴ޤʤ褦ˤΤꥫǼǼԤϡ
礭٤ʤפȤԤˤä٤Ⱦͼ˼
뤳ȤϤʤǤ


Now, limits on the risks major financial firms can take are
 
central to the reforms that I've proposed.  They are central
 
to the legislation that has passed the House under the
 
leadership of Chairman Barney Frank, and that we're working
 
to pass in the Senate under the leadership of Chairman Chris
 
Dodd.  As part of these efforts, today I'm proposing two
 
additional reforms that I believe will strengthen the financial
 
system while preventing future crises.

ּ׶ͻؤȤ뤳ȤΤǤꥹ¤װƤ濴
ʤ롣ϡСˡե󥯵ĹΥ꡼åפβDz
̲ᤷˡƤ濴ȤʤΤǤꡢꥹɥåɵĹβǡ
桹ˤʤäƾ屡̲ᤵ褦ȤƤΤǤ롣
ϤΰĤȤơĤβװƤƤ롣ϡ
δɤȤȤ˶ͻƥ򶯲ΤǤȿ


First, we should no longer allow banks to stray too far from
 
their central mission of serving their customers.  In recent
 
years, too many financial firms have put taxpayer money at
 
risk by operating hedge funds and private equity funds and
 
making riskier investments to reap a quick reward.  And these
 
firms have taken these risks while benefiting from special
 
financial privileges that are reserved only for banks.

ˡ桹ϡԤФθܵҤ˿ԤȤ濴Ū
Ǥ̳ЪΥ뤳Ȥ٤ǤϤʤǶᡢ;ˤ¿
ͻؤإåեɤ̱֤Υƥեɤ򱿱Ĥ
ꡢľ˷ӤĤ褦ʥꥹι⤤Ԥ
ˤäǼǼԤζꥹ˻Ƥ롣ؤϡԤ
ǧƤʤͻøפʤ顢
äƤΤǤ


Our government provides deposit insurance and other safeguards
 
and guarantees to firms that operate banks.  We do so because
 
a stable and reliable banking system promotes sustained growth,
 
and because we learned how dangerous the failure of that system
 
can be during the Great Depression.

ֲ椬ܤϡԷбĤĤҤФơ¶ݸ٤¾Υ
եɤ󶡤Ƥ롣ΤʤСꤷƿΤԥ
ƥबĹ³ΤǤ뤫Ǥꡢޤ桹網
ˡԥƥþǡ˴ʤΤǤ뤫ؤ


But these privileges were not created to bestow banks operating
 
hedge funds or private equity funds with an unfair advantage.
 
When banks benefit from the safety net that taxpayers provide

which includes lower-cost capital it is not appropriate

for them to turn around and use that cheap money to trade for
 
profit.  And that is especially true when this kind of trading
 
often puts banks in direct conflict with their customers'

interests.

֤øϡԤإåեɤ̱֤Υƥ
եɤ򥢥եͭäƱĤिǧ᤿ΤǤϤʤ
ԤǼǼԤ󶡤륻եƥͥåȤˤäפ
Ťˤϡ㥳Ȥλܤޤޤ뤬ŶԤ㥳
λȤäԤΤŬʤȤǤϤʤˡԤԤ
θܵҤפȿˤäˤΤȤǤ


The fact is, these kinds of trading operations can create
 
enormous and costly risks, endangering the entire bank if
 
things go wrong.  We simply cannot accept a system in which
 
hedge funds or private equity firms inside banks can place
 
huge, risky bets that are subsidized by taxpayers and that
 
could pose a conflict of interest.  And we cannot accept
 
a system in which shareholders make money on these operations
 
if the bank wins but taxpayers foot the bill if the bank loses.

֤϶ˤ礭»ˤĤʤꥹߤΤǤ
ꡢ⤷֤ԤʤСԼΤ˴٤뤳Ȥˤʤ
ΤǤ롣ԤλҲҤǤإåեɤ̱֤Υƥե
ɤۤ굡ꡢƤ굡ˤǼǼԤ
⤬ٵ뤵졢ȿȯ褦ʻȤߤϷ褷Ƽ
뤳ȤǤʤΤǤ롣ޤ⤷ԤҤ˾Ƥг
٤ˤʤꡢơ⤷ԤҤ餱ǼǼԤΥĥʧ
褦ʥƥϼ뤳ȤǤʤΤǤ


It's for these reasons that I'm proposing a simple and
 
common-sense reform, which we're calling the "Volcker Rule"
 
after this tall guy behind me.  Banks will no longer be
 
allowed to own, invest, or sponsor hedge funds, private equity
 
funds, or proprietary trading operations for their own profit,
 
unrelated to serving their customers.  If financial firms want
 
to trade for profit, that's something they're free to do.
 
Indeed, doing so responsibly is a good thing for the
 
markets and the economy.  But these firms should not be allowed
 
to run these hedge funds and private equities funds while
 
running a bank backed by the American people.

֤ȤϡñǾQŪʲפƤ롣ܥ륫
롼Ȼ䤿ƤǤΤǤ롣θˤؤι⤤ˤ
Ȥä̾ԤϡϤإåեɡ̱֥ƥե
ɡϡʤŪǹԤȥ졼ɶ̳ͭ񰿤
˻򤹤뤳ȤϤǤʤ⤷ͻؤŪΤ
˼򤹤뤳Ȥ˾ΤǤС뤳ȤϼͳǤ롣
¡ǤäƤ뤳ȤϥޡåȤкѤˤȤäƤ⤤
Ǥ롣ؤϡǤϡꥫ̱ٱ
ƤԤ򱿱Ĥʤ顢¾ǡإåեɤ̱
֥ƥեɤ򱿱Ĥ뤳Ȥϵʤ


In addition, as part of our efforts to protect against future
 
crises, I'm also proposing that we prevent the further
 
consolidation of our financial system.  There has long been
 
a deposit cap in place to guard against too much risk being
 
concentrated in a single bank.  The same principle should apply
 
to wider forms of funding employed by large financial
 
institutions in today's economy.  The American people will
 
not be served by a financial system that comprises just a few
 
massive firms.  That's not good for consumers; it's not good
 
for the economy.  And through this policy, that is an outcome
 
we will avoid.

ֲäơδ桹ϤΰĤȤơƤ
桹ϡ椬ζͻؤΤʾιʻ˻ߤ롣Ĺ֡
ñζԤ¿Υꥹ椹뤳Ȥ򤱤뤿ˡ¶¤
ΤߤƤ롣Ʊ̤ŬѤ٤
ꥫι̱ϡ23εʶͻؤ鹽ͻƥ
äפ뤳ȤϤʤϾԤˤȤäƤȤǤϤ
ơкѤˤȤäƤ⤤ȤǤϤʤ̤
Ȥ򤵤


My message to members of Congress of both parties is that we
 
have to get this done.  And my message to leaders of the
 
financial industry is to work with us, and not against us,
 
on needed reforms.  I welcome constructive input from folks
 
in the financial sector.  But what we've seen so far, in recent
 
weeks, is an army of industry lobbyists from Wall Street
 
descending on Capitol Hill to try and block basic and
 
common-sense rules of the road that would protect our economy
 
and the American people.

ֵIJΥСФΥåϡ桹Ϥ뤲
ФʤʤȤȤͻΥ꡼ФΥ
ϡɬפȤפ˴ؤ桹˶Ϥ桹ȿФ
ߤʤȤȤ桹ϡͻηŪʰո򴿷ޤ
롣ޤǸƤȤϡ륹ȥ꡼ȤIJ
ߤƤӥȤ桹ηкѤ̱ȤŪ
ǾQŪʥ롼ߤ褦Ȥ뤳ȤФȿФư


So if these folks want a fight, it's a fight I'm ready to have.
 
And my resolve is only strengthened when I see a return to old
 
practices at some of the very firms fighting reform; and when
 
I see soaring profits and obscene bonuses at some of the very
 
firms claiming that they can't lend more to small business,
 
they can't keep credit card rates low, they can't pay a fee
 
to refund taxpayers for the bailout without passing on the cost
 
to shareholders or customers -- that's the claims they're making.
 
It's exactly this kind of irresponsibility that makes clear
 
reform is necessary.

֤⤷͡臘ȤΤǤСDZ褦פ
ȿФҤΤΤȤΤ䤬Ȥη
դϤ褤趯ޤФơٴȤˤϤߤȤ
Ǥʤȸʤ顢ϡ쥸åȥɤҤ㤯ݻ
뤳ȤϤǤʤȸʤ顢ϡܵҤˤΥȤž
Ǥ뤳Ȥʤˤϵߺѻ⤫ȯݶǼǼԤ˻ʧ
Ǥʤȸʤ顢ΰǡפ礵ƾQ
줿ܡʥٵ뤵Τ򸫤Ȥˤϡηդ϶ޤ
ʸ櫓ϤƤΤĤޤꡢ̵Ǥ
ΤƤʲפɬפˤʤΤ


We've come through a terrible crisis.  The American people have
 
paid a very high price.  We simply cannot return to business
 
as usual.  That's why we're going to ensure that Wall Street pays
 
back the American people for the bailout.  That's why we're going
 
to rein in the excess and abuse that nearly brought down our
 
financial system.  That's why we're going to pass these reforms
 
into law.

ֲ桹϶иƤ̱˹⤤ʧä
桹ϺޤǤΤˤʤȤ顢桹ϡ
륹ȥ꡼ȤФơ̱ˤεߺѻֺѤ褦Ȥ
Τ줬ͻƥؤԤ᤮
褦ȤͳʤΤ顢βˡƤ̤Ȥ
Τ

Thank you very much, everybody.
 

 

 

ǡǤ礦ĹʸˤʤäѶ̤ǤǤ⡢Х
Τ
Ȥϡ褯̱äΤǤϤʤǤ礦
ơ
륹ȥ꡼Ȱʳο͡¿ϡ̤ȶ
ΤǤ
ʤǤ礦


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