Hillary Clinton

thank you __PUNCT__ so much __PUNCT__

thank you __PUNCT__ david __PUNCT__ for that veri kind introduct __PUNCT__

i appreci your be here with me __PUNCT__

in a few minut __PUNCT__ i will be have an opportun to discuss some of the issu that affect middl __PUNCT__ class_famili here in iowa and across america __PUNCT__ with three local_resid who have been kind enough to particip __PUNCT__

and then we have a chanc to throw it open to the audienc __PUNCT__

i appreci david mitchel __PUNCT__ ph __PUNCT__ and kati vanderpool __PUNCT__ ph __PUNCT__ and don cousin __PUNCT__ ph __PUNCT__ for be part of thi discuss __PUNCT__

and i also want to thank janet adam __PUNCT__ your former state_repres and my counti coordin __PUNCT__ for help to put thi event togeth __PUNCT__

ye __PUNCT__ let give janet a round of applaus __PUNCT__

__PUNCT__ applaus __PUNCT__ i delight that mayor eugen grai is here __PUNCT__

thank you for welcom me to your citi __PUNCT__

and i also want to introduc someon els who i proud to call a friend and also on of my nation co __PUNCT__ chair at my campaign __PUNCT__ and that your former governor __PUNCT__ tom vilsack __PUNCT__

tom __PUNCT__ thank you __PUNCT__

__PUNCT__ applaus __PUNCT__ todai __PUNCT__ we go to continu the convers that i have across iowa and america about how we rebuild the road to a strong and prosper middl_class __PUNCT__

yesterdai __PUNCT__ in cedar rapid __PUNCT__ i propos a new econom blueprint for __NUM___centuri centuri_america __PUNCT__ a plan to creat new job __PUNCT__ to make a commit to clean_energi and innov __PUNCT__ which will be a job engin and creator __PUNCT__ just as it is be now here in iowa __PUNCT__ to restor fair to our economi __PUNCT__

it not right that peopl at the veri top ar do so well and everybodi els is mark time __PUNCT__

we have the largest inequ in our countri that we had sinc the great_depress __PUNCT__

that is not a recip for success for the vast_major of american __PUNCT__

we need to put our fiscal hous in order again __PUNCT__

six and a half_year year_ago __PUNCT__ we had a balanc_budget and a surplu __PUNCT__

that ha been squander __PUNCT__ to our great detriment __PUNCT__

__PUNCT__ applaus __PUNCT__ i want to renew the basic bargain that i grew up with __PUNCT__ that i wa taught about __PUNCT__ that if you work_hard and you respons __PUNCT__ you can get ahead in our countri __PUNCT__

and todai i want to speak about on import_part of that basic bargain __PUNCT__ the promis of a secur retir __PUNCT__

you know __PUNCT__ as american we believ that if you help make_america stronger __PUNCT__ safer and more prosper __PUNCT__ then you should be abl to count on your retir year be better __PUNCT__ healthier and more secur __PUNCT__

but the realiti todai is far differ from what that basic bargain us to deliv __PUNCT__

fewer than on __PUNCT__ half of american_famili have retir_save save_account in ani given year __PUNCT__ and those who do contribut ar save too littl for their futur __PUNCT__

nearli on __PUNCT__ third of all household enter retir do not have enough save to replac even on __PUNCT__ half of their incom __PUNCT__ and that is includ social_secur __PUNCT__

on __PUNCT__ half have save just __MONEY__ or less in a __NUM__ __PUNCT__ k __PUNCT__ or ira type plan __PUNCT__

the privat save_rate last year fell to it lowest_level sinc the great_depress __PUNCT__

all of thi fit togeth __PUNCT__

if you not make_monei that is a part of a rise economi __PUNCT__ it hard to save __PUNCT__

and if the cost of health_care and educ and energi keep go up __PUNCT__ it even harder to save __PUNCT__

so mani american have work_hard their entir live __PUNCT__

thei contribut to their commun __PUNCT__ thei done everyth right __PUNCT__

but when it came time to retir __PUNCT__ thei came up short __PUNCT__

thei worri that their children will have to support them __PUNCT__

thei worri that thei have to keep work __PUNCT__

and i have met peopl across our countri work not just into their late sixti or seventi __PUNCT__ but into their earli eighti becaus thei just don't have enough to keep thing go for them __PUNCT__

thei worri that medicar and social_secur won't be enough to make end meet __PUNCT__

and then the younger_gener is try to rais their own kid __PUNCT__ care for ag parent __PUNCT__ plan for their own retir __PUNCT__

and as their govern turn a blind_ey __PUNCT__ thei face the pressur themselv of stagnant wage and all of these increas_cost __PUNCT__ and __PUNCT__ on top of what happen now __PUNCT__ a soften hous_market __PUNCT__ which ha alwai been the main_sourc of wealth and secur for most american __PUNCT__

too mani famili in america_todai feel like thei stand on a trap door __PUNCT__

thei just on diagnosi __PUNCT__ on pink slip __PUNCT__ on miss mortgag_payment awai from fall through and lose everyth __PUNCT__

what been the bush_administr answer to these real __PUNCT__ world problem __PUNCT__ well __PUNCT__ it alwai the same answer __PUNCT__ help those with the most and good_luck to everybodi els __PUNCT__

thei want to privat social_secur and let individu bear the risk __PUNCT__

thei want to creat retir_save save_account __PUNCT__ which allow the wealthiest american to get the best deal __PUNCT__

thei have littl concern for everybodi els __PUNCT__

thei put tax_break for drug_compani and oil_compani ahead of retir secur for hardwork american __PUNCT__

dure the last six and a half_year __PUNCT__ on presid_bush watch __PUNCT__ the share of american_worker cover by employ __PUNCT__ sponsor retir_plan ha fallen below __NUM__ percent for the first time __PUNCT__

four million fewer worker have access to employ sponsor pension than thei did when presid_bush took offic __PUNCT__

now __PUNCT__ thei call their vision of our countri the __PUNCT__ ownership_societi __PUNCT__

the realiti is __PUNCT__ thei own it __PUNCT__

you work for it __PUNCT__

i call it the __PUNCT__ yoyo societi __PUNCT__ you on your own __PUNCT__

that how thei seem to think that america should be __PUNCT__

i reject that __PUNCT__

for six long year __PUNCT__ the middl_class in our countri ha been as though it were invis to their presid __PUNCT__

you know __PUNCT__ if you work_hard __PUNCT__ you pai your bill and you have noth left over to save at the end of the month __PUNCT__ you invis __PUNCT__

if you work two job __PUNCT__ like a lot of peopl ar todai __PUNCT__ but neither of them ha a retir_plan __PUNCT__ you invis __PUNCT__ too __PUNCT__

if you work all your life to do what is right __PUNCT__ onli to realiz you cannot afford to retir __PUNCT__ well __PUNCT__ you sure invis as well __PUNCT__

well __PUNCT__ you not invis to me __PUNCT__

and when we take back the white_hous __PUNCT__ you will no longer be invis to the presid of the unit_state __PUNCT__

__PUNCT__ applaus __PUNCT__ i believ it time for a new bargain with the american_peopl __PUNCT__ a bargain that reflect the chang global_economi and the new realiti of our ag __PUNCT__

i believ if you do work_hard and you contribut to your countri __PUNCT__ you should have the opportun to save and invest __PUNCT__

and through the disciplin of good plan and the miracl of compound interest __PUNCT__ you should be abl to build wealth for yourself and a better futur for your famili and a secur retir __PUNCT__

that what i want to talk about todai __PUNCT__ my plan to help a new gener of american save and build wealth __PUNCT__

you know __PUNCT__ it realli kind of iron __PUNCT__ becaus part of the american_dream ha alwai been you work_hard todai to build a better futur and to make it better for your children and your grandchildren __PUNCT__

that how i wa rais __PUNCT__

you know __PUNCT__ my famili_live better than my grandpar __PUNCT__

bill and i live better than my parent and hi __PUNCT__

our daughter is live well __PUNCT__

we want everi gener to do better __PUNCT__

if you look at what happen todai __PUNCT__ older_peopl have actual more asset __PUNCT__ even though it not enough to retir comfort __PUNCT__ than their own children and grandchildren do __PUNCT__

think of all of the children move_back to live with parent __PUNCT__

think of all the singl_mom struggl to rais_children __PUNCT__ and grandpar have to help __PUNCT__

so thi is not onli about secur a better retir for those who ar on the brink of retir but help to build more asset and wealth for young_peopl __PUNCT__ like the on you hear about in a minut __PUNCT__

i think everi american deserv a chanc to build a solid next egg __PUNCT__ to help save for that new home __PUNCT__ to send a child to colleg and to secur that comfort retir __PUNCT__

i believ strongli that we can do thi __PUNCT__

and it import that we do it __PUNCT__

becaus right now our save_rate ar below what thei were in __NUM__ __PUNCT__

we don't have much of a nest_egg to fall_back on __PUNCT__

we sure don't have it ani longer in our govern becaus we back into deficit and debt __PUNCT__

and everi dai we borrow_monei from foreign_countri __PUNCT__

and what do we borrow it for __PUNCT__ for presid_bush two main prioriti __PUNCT__ tax_cut for the wealthiest and the war in iraq __PUNCT__

we need to chang those prioriti __PUNCT__

we need to start onc again respect the social_secur trust_fund and begin to bring our troop_home from iraq so that we will have those resourc to spend here at home __PUNCT__

__PUNCT__ applaus __PUNCT__ look at what happen todai __PUNCT__

we spend as a govern __PUNCT__ as our govern __PUNCT__ we spend about __MONEY___billion a year to encourag retir_save __PUNCT__

but under the tax_code __PUNCT__ about half of that __MONEY___billion goe to the top___NUM___percent of earner __PUNCT__

but onli __NUM__ percent goe to the bottom___NUM___percent of earner __PUNCT__

we ar subsid the most the peopl who need it the least __PUNCT__

mani worker don't even have the opportun that would encourag them to save __PUNCT__

when you think about how few employe now actual have access to an employ who sponsor a retir_plan __PUNCT__ you wonder what go to happen to everybodi els __PUNCT__

but even those who have access to a retir plan __PUNCT__ not nearli enough of them ar encourag or given the opportun to save __PUNCT__

so we got a lot of worker __PUNCT__ more than half in america right now __PUNCT__ without ani employ __PUNCT__ base retir_save save_account __PUNCT__ includ___NUM__ __NUM___worker right here in iowa __PUNCT__

think about that __PUNCT__ __NUM__ __PUNCT__

it mayb not someth you talk about with your neighbor __PUNCT__ but that a lot of peopl right here in webster citi and across iowa __PUNCT__

and mani part of the workforc ar even wors off __PUNCT__

think about how it affect women __PUNCT__ particularli singl_women __PUNCT__

women who work_full __PUNCT__ time ar like to have on the same_level as their male counterpart a retir_plan __PUNCT__

but a lot of women don't work_full __PUNCT__ time __PUNCT__ thei work_part __PUNCT__ time or __PUNCT__ i like to sai __PUNCT__ thei work two part __PUNCT__ time_job to try to make enough monei to support themselv and their children __PUNCT__

you know __PUNCT__ yesterdai for lunch we stop at a maid __PUNCT__ rite on our wai from cedar rapid to marshalltown __PUNCT__ and the waitress who serv us wa a singl_mom __PUNCT__

she rais two boi __PUNCT__ thei now in their twenti __PUNCT__

she and her boi have work_hard everi singl_dai for a lot of year __PUNCT__

she work at a nurs_home and she work at a maid __PUNCT__ rite __PUNCT__

she doesn't have much to count on when it come to retir except for social_secur __PUNCT__

a lot of these worker ar left behind __PUNCT__

but i think we know what to do __PUNCT__

we just need a presid who believ it import to do thi __PUNCT__

when peopl have access to retir_account like __NUM__ __PUNCT__ k __PUNCT__ s that provid gener match __PUNCT__ thei save more __PUNCT__

in a recent_studi __PUNCT__ middl __PUNCT__ class_american save eight time more when thei were given a __NUM__ percent match __PUNCT__

and we know that by make it easier with automat_enrol __PUNCT__ direct deposit and diversifi invest option __PUNCT__ peopl ar more like to build up their nest_egg __PUNCT__

that why i announc my plan todai to provid everi singl american with an easi __PUNCT__ automat opportun to save for futur through an account i call an american retir_account __PUNCT__

these account will take the best of the __NUM__ __PUNCT__ k __PUNCT__ plan and make them avail to everi work_famili __PUNCT__

thei will help famili and individu who ar fall through the crack __PUNCT__

thei will reduc the wai the tax_code skew for the wealthi __PUNCT__

thei will begin to bring down thi inequ that is eat awai at our social_contract __PUNCT__

and thei will encourag nation save and econom_growth __PUNCT__

thi is a major commit to how i think we can begin to right the balanc again __PUNCT__

here how american retir_account will work __PUNCT__ to give a strong incent for save __PUNCT__ my plan will offer work and middl __PUNCT__ class_famili gener match tax_cut __PUNCT__

for famili make up to __MONEY__ a year __PUNCT__ the govern will match dollar for dollar the first __MONEY__ you save __PUNCT__

for famili make between __MONEY__ and __MONEY__ the plan will provid a __NUM__ percent match on the first __MONEY__ of save __PUNCT__

that mean ten of million of middl __PUNCT__ class_famili will be elig for match tax_cut of up to __MONEY__ and __MONEY__ to help them build a nest_egg __PUNCT__

the new american retir_account will build upon and strengthen the exist employ __PUNCT__ base retir_save system __PUNCT__

if you like your current retir save option __PUNCT__ you keep them as thei ar __PUNCT__

no chang is necessari __PUNCT__

but if you don't have a retir save_plan or you don't like the on you have __PUNCT__ you will be abl to open a new american retir_account that will provid no hassl __PUNCT__ portabl save opportun throughout your career __PUNCT__

these univers account will allow you to contribut up to __MONEY__ a year on a cash defer basi __PUNCT__

you will get the gener_govern match on the first __MONEY__

so although __NUM__ __PUNCT__ k __PUNCT__ s now ar onli avail to some __PUNCT__ thei will be avail to everyon __PUNCT__

save in the account will be easi __PUNCT__

it should not requir a ph.d __PUNCT__ to save for retir __PUNCT__

we encourag employ to let employe directli deposit a portion of their salari into the account __PUNCT__

save will happen automat unless a worker opt out __PUNCT__

we provid expand tax_credit to smaller busi to help cover the start __PUNCT__ up cost of establish direct deposit option __PUNCT__

and we ensur there ar secur __PUNCT__ diversifi invest option in these account __PUNCT__

your account will be your __PUNCT__

you will be abl to take it from job to job and roll over ani exist retir_save into the account __PUNCT__

thi is particularli import for women __PUNCT__

women __PUNCT__ as we know __PUNCT__ ar more like to go in and out of the workforc __PUNCT__

as a woman who ha work __PUNCT__ i start_work __PUNCT__ i think __PUNCT__ when i wa __NUM__ in the summer time __PUNCT__ and i got my first social_secur then __PUNCT__

i work_part part_time __PUNCT__

i work_full full_time __PUNCT__

and __PUNCT__ of cours __PUNCT__ when bill wa presid i didn't work outsid the home __PUNCT__ as we might sai __PUNCT__

and so i know that women go in and out of the workforc to rais_children __PUNCT__ to take care of their parent __PUNCT__ so mani issu that affect our live __PUNCT__

i would also make it easier for small_busi and for self __PUNCT__ emploi peopl __PUNCT__ who often get the worst of all world __PUNCT__ thei can't afford health_care __PUNCT__ thei can't afford to save for retir __PUNCT__

we go to address that __PUNCT__

why should we be satisfi with our current system __PUNCT__ a system in which a mother who choos to stai_home and rais her children miss out on save opportun that other can access __PUNCT__ why should we be satisfi with a system in which start your own busi mean pass up employ __PUNCT__ sponsor retir_benefit __PUNCT__ why should we be satisfi with a system in which part __PUNCT__ time employe don't have incent or an easi wai to save __PUNCT__ well __PUNCT__ i not satisfi __PUNCT__

that why i want to chang the system __PUNCT__ and i want to make it avail to everi american __PUNCT__

under my plan you also be abl to us the save in your american retir_account to make major life invest __PUNCT__ like bui a home or pai for higher_educ __PUNCT__

in addit __PUNCT__ in light of the grow econom uncertainti face american_famili __PUNCT__ we should consid wai to let worker access a portion of their save to weather difficult_time __PUNCT__ like an ill or an accid that ha affect you __PUNCT__

in short __PUNCT__ my plan will help ten of million of middl __PUNCT__ class_famili go from just get by to get ahead __PUNCT__

now __PUNCT__ i know some peopl will sai __PUNCT__ well __PUNCT__ we can't afford to invest in the american_peopl __PUNCT__

well __PUNCT__ i think we can't afford not to invest in the american peopl __PUNCT__

we need to do it __PUNCT__ and we can do it in a fiscal_respons wai __PUNCT__

we will cover the cost of these middl __PUNCT__ class retir tax_cut with a portion of revenu from freez the estat_tax __PUNCT__

for everi on wealthi estat face a less __PUNCT__ gener estat tax exempt __PUNCT__ thousand of middl __PUNCT__ class_famili will receiv a tax_cut that will help them save __PUNCT__ invest __PUNCT__ and on dai own an estat of their own __PUNCT__

i think it imper that we start give peopl the chanc to acquir wealth again __PUNCT__

otherwis __PUNCT__ we go to becom a two __PUNCT__ tier societi __PUNCT__

we have the rich __PUNCT__ and we have everybodi els __PUNCT__

that is not the america i grew up in __PUNCT__

and i don't think that the wai america work best __PUNCT__

as we encourag individu to save on their own __PUNCT__ we will shore up exist employ __PUNCT__ sponsor pension __PUNCT__

i fought in the senat to ensur that compani fund __NUM__ percent of their defin_benefit pension_oblig __PUNCT__

i want to strengthen defin_benefit coverag __PUNCT__

we go to final close the loophol when i presid in our pension law that allow compani to cut their employe __PUNCT__ pension when thei sell off subsidiari __PUNCT__

on of the most egregi exampl of thi wa when halliburton us thi loophol to rob it employe of __MONEY___million in pension_benefit thei had earn __PUNCT__

and then thei turn around and reward their then __PUNCT__ ceo __PUNCT__ dick_chenei __PUNCT__ with a __MONEY___million sweetheart retir deal __PUNCT__

you could not have a clearer exampl of what is wrong with america __PUNCT__

why on earth should ani compani be permit legal to depriv worker of what thei earn in order to give a ceo the same_amount in benefit __PUNCT__ applaus __PUNCT__ we also need to examin our bankruptci code __PUNCT__ to ensur that compani ar not us bankruptci to get out of their oblig to worker __PUNCT__

you know __PUNCT__ bankruptci is an unfortun fact of life for some struggl compani __PUNCT__

but when a compani run into hard_time __PUNCT__ we need to give worker and retire a fair chanc to negoti for the benefit thei earn __PUNCT__

i would also restor the pension_benefit guarante corpor to it histor_role as an advoc for worker retir_benefit __PUNCT__

i continu the work that i done in the senat to secur retir benefit for law_enforc enforc_offic __PUNCT__ militari veteran and __DATE__ hero __PUNCT__

and i work to strengthen spousal protect to ensur that widow and qualifi divorc widow receiv the retir_benefit thei ar due __PUNCT__

final __PUNCT__ the bedrock of my retir_save agenda is a fundament commit to social_secur __PUNCT__

i don't think there ani doubt that we got to fight and final buri the idea of privat social secur __PUNCT__

it is on of those bad_idea that deserv to be total buri __PUNCT__

__PUNCT__ applaus __PUNCT__ when i am presid __PUNCT__ privat social_secur will certainli not be even discuss __PUNCT__

i reject the view of presid_bush and other who have given larg tax_cut to the wealthiest __PUNCT__ fail to crack down on offshor tax dodger __PUNCT__ and hand out no __PUNCT__ bid contract to compani like halliburton __PUNCT__ and then insist that we need to cut benefit to middl __PUNCT__ class retire __PUNCT__

how can thei get the top___NUM___percent of american a tax_cut larg enough to essenti fix social_secur and then turn around and sai __PUNCT__ oh __PUNCT__ we have no choic but to cut social_secur_benefit __PUNCT__ don't you believ all these peopl run around cry wolf about social secur __PUNCT__

that is exactli what thei do __PUNCT__

thei try to get peopl confus and upset and agre to a bad_deal __PUNCT__

when i am presid __PUNCT__ we have our prioriti in order __PUNCT__

we will return to fiscal_respons and fair_tax tax_polici first __PUNCT__ and then we will address the long __PUNCT__ term challeng_face social_secur __PUNCT__

but i not go about demand sacrific from senior and have other dismantl social secur becaus thei claim thei can't cut_back on the tax_break for wealthi american and big_corpor __PUNCT__

when my husband left_offic __PUNCT__ becaus we had a balanc_budget and a surplu __PUNCT__ there wa a plan in place to extend the solvenc of social_secur until __NUM__ __PUNCT__

that give us plenti of time to figur out what els we need to do __PUNCT__

onc georg_bush came in and we went back to deficit_spend __PUNCT__ the last six and a half_year what we seen is a decreas in the life of the social_secur trust_fund to __NUM__ __PUNCT__

well __PUNCT__ when we get back to fiscal_respons __PUNCT__ we start pai_back the social_secur trust_fund __PUNCT__

and that will give us a strong foundat to go toward fix all of the long __PUNCT__ term challeng that social_secur face __PUNCT__

in my work __PUNCT__ i will be guid by a belief that each gener ow a great_deal to the on that come befor it and ow a great deal to the on that ar come after __PUNCT__

i grate for what my parent did for me and what their gener did for all of us __PUNCT__

you know __PUNCT__ my father wa kind of old __PUNCT__ fashion __PUNCT__

he had a small_busi and he didn't believ in debt __PUNCT__

in fact __PUNCT__ it wa the explos of the deficit dure the 1980 that turn my rock __PUNCT__ rib republican father into an open __PUNCT__ mind voter __PUNCT__

__PUNCT__ laughter __PUNCT__ he began to sai __PUNCT__ you know what __PUNCT__ your mother and i save until we could bui our hous __PUNCT__

we save until we could bui a car __PUNCT__

we save __PUNCT__

and now my govern go into debt __PUNCT__

i think there a lot of wisdom in that __PUNCT__

you know __PUNCT__ it the same father who taught me to turn off light when i left a room __PUNCT__

we got to get back to some of those habit __PUNCT__

you know __PUNCT__ i think in the world in which we ar face challeng from new competitor __PUNCT__ threat and danger that ar real __PUNCT__ we got to start act like american again __PUNCT__

we got to roll up or sleev and claim that thi countri is worth fight for and save __PUNCT__ and __PUNCT__ inaud __PUNCT__ that we get back on the right track __PUNCT__

__PUNCT__ applaus __PUNCT__ so i excit to be here to unveil these plan __PUNCT__ becaus i believ that we can do thi __PUNCT__

i absolut confid and optimist __PUNCT__

i know everybodi sai __PUNCT__ well __PUNCT__ we can't get anyth done in washington __PUNCT__

but when you think about it __PUNCT__ presid_bush realli want to divid america __PUNCT__ unfortun __PUNCT__

i regret that deepli __PUNCT__

there a lot we can get done if we work togeth __PUNCT__

that what i done in the senat __PUNCT__

you know __PUNCT__ befor i got to the senat a lot of peopl didn't know whether i could or would work with republican __PUNCT__

on of the republican famous said after i got elect __PUNCT__ well __PUNCT__ mayb lightn will strike befor she get here __PUNCT__

__PUNCT__ laughter __PUNCT__ well __PUNCT__ thankfulli __PUNCT__ it didn't __PUNCT__

__PUNCT__ laughter __PUNCT__ but when i got there __PUNCT__ i roll up my sleev __PUNCT__ becaus i wa elect to help the peopl who sent me to the senat __PUNCT__

when i presid __PUNCT__ i go to roll them up even higher __PUNCT__ and we go to get to work togeth __PUNCT__

and on of the thing we go to do is to help american onc again face the futur with secur and have a retir_plan that realli help middl __PUNCT__ class_american __PUNCT__

that what i pledg to you __PUNCT__

thank you all veri much __PUNCT__