Thank you so much. Well, it is a thrill to be here. Thank you, Secretary Chu, for bringing your experience and expertise to this new role. And thanks to all of you who have done so much on behalf of the country each and every day here at the department. You know, your mission is so important, and it's only going to grow as we transform the ways we produce energy and use energy for the sake of our environment, for the sake of our security, and for the sake of our economy.
As we are meeting, in the halls of Congress just down the street from here, there's a debate going on about the plan I've proposed, the American Recovery and Reinvestment Plan.
This isn't some abstract debate. Last week, we learned that many of America's largest corporations are planning to lay off tens of thousands of workers. Today we learned that last week, the number of new unemployment claims jumped to 626,000. Tomorrow, we're expecting another dismal jobs report on top of the 2.6 million jobs that we lost last year. We've lost half a million jobs each month for the last two months.
Now, I believe that legislation of such magnitude as has been proposed deserves the scrutiny that it has received over the last month. I think that's a good thing. That's the way democracy is supposed to work. But these numbers that we're seeing are sending an unmistakable message -- and so are the American people. The time for talk is over. The time for action is now, because we know that if we do not act, a bad situation will become dramatically worse. Crisis could turn into catastrophe for families and businesses across the country.
And I refuse to let that happen. We can't delay and we can't go back to the same worn-out ideas that led us here in the first place. In the last few days, we've seen proposals arise from some in Congress that you may not have read but you'd be very familiar with because you've been hearing them for the last 10 years, maybe longer. They're rooted in the idea that tax cuts alone can solve all our problems; that government doesn't have a role to play; that half-measures and tinkering are somehow enough; that we can afford to ignore our most fundamental economic challenges -- the crushing cost of health care, the inadequate state of so many of our schools, our dangerous dependence on foreign oil.
So let me be clear: Those ideas have been tested, and they have failed. They've taken us from surpluses to an annual deficit of over a trillion dollars, and they've brought our economy to a halt. And that's precisely what the election we just had was all about. The American people have rendered their judgment. And now is the time to move forward, not back. Now is the time for action.
Just as past generations of Americans have done in trying times, we can and we must turn this moment of challenge into one of opportunity. The plan I've proposed has at its core a simple idea: Let's put Americans to work doing the work that America needs to be done.
This plan will save or create over 3 million jobs -- almost all of them in the private sector.
This plan will put people to work rebuilding our crumbling roads and bridges, our dangerous -- dangerously deficient dams and levees.
This plan will put people to work modernizing our health care system, not only saving us billions of dollars, but countless lives.
This plan will put people to work renovating more than 10,000 schools, giving millions of children the chance to learn in 21st century classrooms, libraries and labs -- and to all the scientists in the room today, you know what that means for America's future.
This plan will provide sensible tax relief for the struggling middle class, unemployment insurance and continuing health care coverage for those who've lost their jobs, and it will help prevent our states and local communities from laying off firefighters and teachers and police.
And finally, this plan will begin to end the tyranny of oil in our time.
After decades of dragging our feet, this plan will finally spark the creation of a clean energy industry that will create hundreds of thousands of jobs over the next few years, manufacturing wind turbines and solar cells, for example -- millions more after that. These jobs and these investments will double our capacity to generate renewable energy over the next few years.