The Clinton Global Iniative Goes On ...

And neither candidate would be fool enough to miss it. After the jump, the prepared remarks of both candidates, who addressed the forum this morning.

John McCain's prepared remarks:

Thank you, Mr. President. It's always good to see you, and I appreciate your hospitality to me and Governor Sarah Palin.

Let me also congratulate you, Mr. President, on the great work of the Clinton Global Initiative. It says a lot about a man that after 12 years as a governor, and another eight years at the Resolute desk, he is still working hard in service to others. Bill Clinton is a man who has achieved enough in public service, by any measure except his own. This man's drive, and determination, and compassion for those in need are still a force for good in the world, and I am proud to call him a friend.

Your kind invitation brought me here to discuss some of the great concerns of the Clinton Global Initiative, and especially climate change, extreme poverty, and epidemic diseases. But I know you will understand if I begin by addressing a crisis of our own right here in America -- a crisis that began not far from here in the financial district of this city.

We know this is a crisis with serious implications and consequences for our nation and others. History must not record that when our nation faced such a moment, its leadership was unable to put aside politics and to focus in a unified way to solve this problem.

It's time for everyone to recall that the political process is not an end in itself, nor is it intended to serve those of us who are in the middle of it. In the Senate of the United States, our duty is to serve the people of this country, and we can serve them best now by putting politics aside and dealing in a focused, straightforward, bi-partisan way with the problem at hand.

For the Congress, this is one of those moments in history when poor decisions, made in haste, could turn a crisis into a far-reaching disaster. If we do not act, credit will dry up, with grave consequences for workers and business across the American economy and beyond. People will no longer be able to buy homes and their life savings will be at stake. Businesses will not have enough money to pay their employees. And, as ever, the greatest burden is borne by the American people. Seven hundred billion dollars is a staggering and unprecedented figure, and there should be no misunderstanding about the dimensions of this proposal. Seven hundred billion dollars, for example, could rebuild the crumbling infrastructure in every town, county, and state in this country. A great deal is being asked of the American people. And great care must be taken to ensure their protection.

I'm an old Navy pilot, and I know when a crisis calls for all hands on deck. That's the situation in Washington at this very hour, when the whole future of the American economy is in danger. I cannot carry on a campaign as though this dangerous situation had not occurred, or as though a solution were at hand, which it clearly is not. As of this morning I suspended my political campaign. With so much on the line, for America and the world, the debate that matters most right now is taking place in the United States Capitol -- and I intend to join it. Senator Obama is doing the same. America should be proud of the bipartisanship we are seeing.

It has become clear that no consensus has developed to support the Administration's proposal to meet the crisis. I do not believe that the plan on the table will pass as it currently stands, and we are running out of time. So I am returning to Washington to seek five fundamental improvements to this critical legislation. I have laid out these principles over the past week:

First, there must be greater accountability included in the bill. I have suggested a bipartisan board to provide oversight for the rescue. We will not solve a problem caused by poor oversight with a plan that has no oversight. Never before in the history of our nation has so much power and money been concentrated in the hands of one person, and there must be protections and oversight in place.

Second, as a part of that oversight, there must be a path for taxpayers to recover the money that is put into this fund. When we're talking about 700 billion taxpayer dollars, that money cannot simply go into a black hole of bad debt with no means of recovering any of the funds.

Third, there must be complete transparency in the review of this legislation and in the implementation of any legislation. This cannot be thrown together behind closed doors. The American people have the right to know which businesses will be helped, what that selection will be based on and how much that help will cost. All the details should all be made available online and elsewhere for open public scrutiny.

Fourth, it is completely unacceptable for any kind of earmarks to be included in this bill. It would be outrageous for legislators and lobbyists to pack this rescue plan with even more taxpayer money for favored companies. And frankly, members of Congress who would attempt such a thing are scarcely better than the most reckless operators on Wall Street.

Fifth and finally, no Wall Street executives should profit from taxpayer dollars. Let me put it this way: I would rather build a bridge to nowhere -- and put it square in the middle of Sedona, Arizona -- than take money from teachers and farmers and small business owners to line the pockets of the Wall Street crowd that got us here in the first place. And I can assure you: if I have anything to say about the matter, it's not going to happen.

It is difficult to act both quickly and wisely, but that is what is required of us right now. Time is short, and doing nothing is not an option. I am confident that before the markets open on Monday we can achieve consensus on legislation that will stabilize our financial markets, protect taxpayers and homeowners, and earn the confidence of the American people.

I have seen Republicans and Democrats achieve great things together. When the stakes were high and it mattered most, I've seen them work together in common purpose, as we did in the weeks after September 11th. This kind of cooperation has made all the difference at crucial turns in our history. It has given us hope in difficult times. It has moved America forward, through all adversity. And now, in this crisis, we must work together again and put our country first.

All of this comes on top of other hardships that Americans have been dealing with, especially the rising cost of energy. And these, too -- as you well understand at the Clinton Global Initiative -- are problems that require us to call upon the best ideas of both parties.

For the future of our economy, nothing is more essential than a secure and affordable supply of energy. As you well know, people are hurting because the cost of gasoline is out of control. Small farmers, truckers, and taxi drivers in this city and elsewhere are unable to cover their costs. Small business owners are struggling to meet payroll. For American workers, the cost of living is rising and the value of paychecks falling. All of this, in large part, because the price of oil is too high, and the supply of oil too uncertain. These citizens believe their government has a duty to finally assure the energy security of this country, and they are right.

Every form of economic activity requires the use of energy. And that is why we need to draw on the best ideas of both parties on energy policy, and work together for the common good. Among our challenges is one that we hardly even understood back when America first learned to associate the word "energy" with "crisis." We now know that fossil fuel emissions, by retaining heat within the atmosphere, threaten disastrous changes in climate. No challenge of energy is to be taken lightly, and least of all the need to avoid the consequences of global warming.

Over time, we must shift our entire energy economy toward a sustainable mix of new and cleaner power sources. This will include some we use already, such as wind, solar, biofuels, and other sources yet to be invented. It will include a variety of new automotive and fuel technologies, clean-burning coal and nuclear energy, and a new system of incentives, under a cap-and-trade policy, to put the power of the market on the side of environmental protection. To make the great turn away from carbon-emitting fuels, we will need all the inventive genius of which America is capable. We will need as well an economy strong enough to support our nation's great shift toward clean energy.

Global warming presents a test of foresight, of political courage, and of the unselfish concern that one generation owes to the next. We need to think straight about the dangers ahead, and meet the problem with all the resources of human ingenuity at our disposal. We Americans like to say that there is no problem we can't solve, however complicated, and no obstacle we cannot overcome if we meet it together. I believe this about our country. And now it is time for us to show those qualities once again.

As we deal with this challenge, we must also address the others that imperil our global security. Today too many around the world are excluded from the benefits of globalization. Disconnected from the prosperity that has lifted millions out of poverty, too many societies are plagued by violence, disease, and scarcity.

It need not be this way. And in places where scarcity can breed resentment, despair, and extremism -- where problems cannot be contained by borders -- it must not be this way. We can never guarantee our security through military means alone. True security requires a far broader approach, using non-military means to reduce threats before they gather strength. And this is especially true of our strategic interest in fighting disease and extreme poverty across the globe.

Promoting development, creating opportunities, and eliminating disease do not only serve our national interests; they also accord with our deepest American values. We are a great and generous country, and we believe that all men and women, everywhere, are created equal and endowed by God with certain rights. In fighting disease, and sparing unnumbered lives across the world, we serve not only strategic interests. We serve our moral interests, and we show the good heart of America.

Malaria alone kills more than a million people a year, mostly in Africa. Nearly three thousand children are lost every day just to this one affliction -- a disease well within our ability to eradicate. To its lasting credit, the federal government in recent years has led the way in this fight. But, of course, America is more than its government. Some of the greatest advances have been the work of the Gates Foundation and other private, charitable groups. And you have my pledge that, should I be elected, I will build on these and other initiatives to ensure that malaria kills no more.

I will also make it a priority to improve maternal and child health. Millions around the world -- and especially pregnant women and children -- suffer from easily preventable nutritional deficiencies. As a result, a million children under age five die every year, millions more are born mentally impaired, and entire economies are left to stagnate. An international effort is needed to prevent disease and developmental disabilities among children by providing nutrients and food security. And if I am elected president, America will lead that effort.

As we have done with the scourge of HIV and AIDS, we should embark on a more concerted effort to fight tuberculosis, which accounts for nearly two million deaths each year. We should work to dramatically raise agricultural productivity in Africa: America helped to spark the Green Revolution in Asia, and they should be at the forefront of an African Green Revolution. We should reform our aid programs, to make sure they are serving the interests of people in need, and not just serving special interests in Washington.

Aid is not the whole answer. We need to promote economic growth and opportunities, especially for women, where they do not currently exist. Too often, trade restrictions -- combined with costly agricultural subsidies for the special interests -- choke off the opportunities for poor farmers and workers abroad to help themselves. That has to change. And by promoting free trade, and ending unfair subsides, I intend to be the agent of change.

You know something about great change at the Clinton Global Initiative, because you are striving every day to bring it about. I thank each one of you for the good work you have done to relieve suffering across the earth, and to spread hope. I thank you for the even greater works that you seek to accomplish in the years to come, under the leadership of the man from Hope. And I thank you all for your kind attention here today.

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Remarks of Senator Barack Obama—as prepared for delivery
Clinton Global Initiative
September 25, 2008

It’s great to speak to you this morning. I’m sorry that I can’t be there, but I did enjoy the opportunity to sit down with President Clinton recently in New York. He has helped to create a model for individual responsibility and collective action through the Clinton Global Initiative.

CGI brings people together to take on tough, global challenges. In four years, you have made concrete commitments that have affected over 200 million people in 150 countries. And I applaud your new commitment to help 20 million poor children get a healthy meal. It’s time for us to come together to get this done.

You are meeting at a time of great turmoil for the American economy. We are now confronted with a financial crisis as serious as any we have faced since the Great Depression. Action must be taken to restore confidence in our economy.

Let me be clear: it’s outrageous that we find ourselves in a position where taxpayers must bear the burden for the greed and irresponsibility of Wall Street and Washington. But we also know that a failure to act would have grave consequences for the jobs, and savings, and retirement of the American people.

Over the last few days, I’ve been in close contact with Secretary Paulson and leaders in Congress. I’ve also had the opportunity to speak directly to the American people about what we need to do moving forward. I’ve laid out several clear principles that I believe must be a part of our response to this crisis.

First, we need to set up an independent board, selected by Democrats and Republicans, to provide oversight and accountability for how and where this money is spent at every step of the way.

Second, if American taxpayers finance this solution, they should be treated like investors. That means Wall Street and Washington should give every penny of taxpayers’ money back once this economy recovers.

Third, we cannot and will not simply bailout Wall Street without helping the millions of innocent homeowners who are struggling to stay in their homes. They deserve a plan too.

Finally – and this is important – the American people should not be spending one dime to reward the same Wall Street CEOs whose greed and irresponsibility got us into this mess.

Congressional leaders have made progress in their negotiations, and appear close to a deal that would include these principles. President Bush addressed some of these issues last night, and I’m pleased that Senator McCain has decided to embrace them too. Now is a time to come together – Democrats and Republicans – in a spirit of cooperation on behalf of the American people.

Later today, I’ll be travelling to Washington to offer my help in getting this deal done. Then, I’ll travel to Oxford on Friday for the first of our presidential debates. Our election is in 40 days. Our economy is in crisis, and our nation is fighting two wars abroad. The American people deserve to hear directly from myself and Senator McCain about how we intend to lead our country. The times are too serious to put our campaign on hold, or to ignore the full range of issues that the next President will face.

Since CGI is about deeds, not just words, let me tell you about four specific commitments that I will make on four issues that CGI has focused on – climate change, poverty, education, and health – if I have the opportunity to serve as President of the United States.

Here’s how I approach these issues.

We live in a time when our destinies are shared. The world is more intertwined than at any time in human history. Walls that divided old enemies have come down. Markets have opened. The spread of information and technology has reduced barriers to opportunity and prosperity, and opened doors to new competition and risk. We have heard this time and again since the end of the Cold War. And over the last few weeks, this truth has been reinforced anew.

In America, we have seen that there is no dividing line between the ability of folks to live their dreams on Main Street, and the bottom line of investment banks on Wall Street. There is a lesson that cuts across this economic crisis. Prosperity cannot be sustained if it shuts people out. Growth cannot just come from the top down – it must come from the bottom up, with new jobs that pay good wages, and new innovation that creates opportunity across the globe.

And in the 21st century, we must also recognize that it’s not just prosperity that comes from the bottom up. Our security is shared as well.

The carbon emissions in Boston or Beijing don’t just pollute the immediate atmosphere – they imperil our planet.

Pockets of extreme poverty in Somalia can breed conflict that spills across borders.

The child who goes to a radical madrasa outside of Karachi can end up endangering the security of my daughters in Chicago.

A deadly flu that begins in Indonesia can find its way to Indiana within days.

Climate change. Poverty. Extremism. Disease. These problems offend our common humanity. They also threaten our common security. You know this. The question is what we do about it.

We’re not going to face these threats of the future by grasping at the ideas of the past. In many cases, we know what we have to do. We talk about the solutions year after year. This must be the time when we choose not to wait any longer. We must marshal the will. We must see that none of these problems can be dealt with in isolation, nor can we deny one and effectively tackle another. That’s why you’ve come to CGI. Because that’s what this moment calls us to do.

No single issue sits at the crossroads of as many currents as energy. Our dependence on oil and gas funds terror and tyranny; it has forced families to pay their wages at the pump; and it puts the future of our planet in peril. This is a security threat, an economic albatross, and a moral challenge of our time. The time to debate whether climate change is manmade has past – it’s time, finally, for America to lead.

The first commitment that I’ll make today is setting a goal of an 80 percent reduction in greenhouse gas emissions by 2050.

To do our part, we’ll implement a cap-and-trade program so that there’s a price for pollution, and resources to transform our energy economy. I’ve proposed an investment of $150 billion in alternative energy over ten years, which will create millions of jobs and break the cycle of our addiction to oil. We need to do more than drill. Now is the time to develop every form of alternative energy – solar, wind, and biofuels, as well as technologies that can make coal clean and nuclear power safe. We need to raise fuel economy standards, put more plug-in hybrid cars on the road, and find new ways to be energy efficient.

Abroad, the United States must get off the sidelines. We’ll reach out to the leaders of the biggest carbon emitting nations and ask them to join a new Global Energy Forum to lay the foundation for the next generation of climate protocols. We’ll build an alliance of oil-importing nations, and work together to reduce our demand, and break the grip of OPEC. And as we develop clean energy, we should share technology and innovations with the nations of the world.

This effort to confront climate change will be part of our strategy to alleviate poverty. Because we know that it is the world’s poor who will feel – and who may already be feeling – the affect of a warming planet. If we fail to act, famine could displace hundreds of millions, fueling competition and conflict over basic resources like food and water.

We all have a stake in reducing poverty. There is suffering across the globe that doesn’t need to be tolerated in the 21st century. And it leads to pockets of instability that provide fertile breeding grounds for threats like terror and the smuggling of deadly weapons that cannot be contained by the drawing of a border or the distance of an ocean. These aren’t simply disconnected corners of an interconnected world. That is why the second commitment that I will make is embracing the Millennium Development Goals, which aim to cut extreme poverty in half by 2015.

This will take more resources from the United States, and as President I will increase our foreign assistance to provide them. But resources must be focused on the right priorities. No one wants to put good money after bad, or ignore the underlying causes at the root of these problems.

We shouldn’t just settle for a status quo – anywhere – where you can’t start a business without paying a bribe. Corruption wastes our tax dollars. It also ruins lives. This is a human rights issue, and we need to treat it like one.

We shouldn’t help those in need without helping them help themselves. That’s why I’ll partner with the private sector in creating a new fund for Small and Medium Enterprise, so we’re investing in ideas that can create growth and jobs in the developing world.

Above all, we must do our part to see that all children have the basic right to learn. There is nothing more disappointing than a child denied the hope that comes with going to school, and there is nothing more dangerous than a child who is taught to distrust and then to destroy.

That’s why the third commitment I’ll make is working to erase the global primary education gap by 2015. Every child – every boy, and every girl – should have the ability to go to school. To ensure that our nation does its part to meet that goal, we need to establish a two billion dollar Global Education Fund. And I look forward to signing the bipartisan Education for All Act that was first introduced by Hillary Clinton – a true champion for children.

Finally, we must continue the progress that’s been made to advance the cause of global health. I’ve been proud to support the PEPFAR program. I think President Bush – and many of you there today – have shown real leadership in the fight against HIV/AIDS, tuberculosis, and malaria. This is a fight that I will continue as President.

Disease stands in the way of progress on so many fronts. It can condemn populations to poverty, and prevent a child from getting an education. And yet far too many people still die of preventable illnesses. Today, I’d like to focus on one: malaria.

We have eliminated malaria in the United States, but nearly one million people around the world still die from a mosquito bite every year. 85 percent of the victims are African children under the age of 5. In Africa, a child dies from a mosquito bite every thirty seconds. Beyond the devastating human toll, malaria weighs down public health systems, setting back global capacity to fight other disease.

So today, I want to join with the global malaria community that is meeting here in New York in making a new commitment: when I am President, we will set the goal of ending all deaths from malaria by 2015. It’s time to rid the world of death from a disease that doesn’t have to take lives. The United States must lead, and when I am President we will step up our focus on prevention and treatment around the world to get this done.

The first project of my Small and Medium Enterprise fund will be investing in the developing world’s capacity to meet the demand for 730 million bednets. We’ll also increase access to doctors and nurses through a new program – Health Infrastructure 2020 – that trains medical professionals in countries around the world, and gives them incentives to stay there. And we’ll invest in research and development into new vaccines, and ensure that low cost anti-malaria drugs are available everywhere.

This effort must bring together governments from around the world. It must be a public-private partnership that draws on the resources, and ideas, and resilience of business and non-profits and faith groups. It must be a cause for countless individuals, and a common goal that unites us all.

In short, the effort to eradicate malaria must draw on the spirit that drives not simply the commitments at CGI – but the commitment that is visible everywhere that people go to work to make their communities, their country, and our world a better place.

The scale of our challenges may be great. The pace of change may be swift. But we know that it need not be feared. The landscapes of the 21st century are still ours to shape.

We see the potential for progress every time someone starts a job creating new energy, or an idea carries a community out of poverty; we see it every time a girl walks through the doors of a new school, or a boy lives to see another day because he had a simple net around his bed. These are the dreams that we must make our own.

We live in a time when our destinies are shared. But our destinies will be written by us, not for us. Now, it falls to us to get to work.

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