Ladies and Gentlemen: As we face and surmount this crisis, let me first express my confidence in the faith, hope and work of the American people. Your charity is constant you will always assist the most unfortunate among us.

To foster our recovery, the goal of this administration is to unleash the talent and energy of the most productive citizens of the world...The American people.

The following program is intended to ignite the economy but will require us to tighten our belts and get back to work.

The following programs will be implemented immediately:

Significant across the board cuts in all government programs to include defense, entitlements and education. We have spent more that we have and now is the time to reduce the size and scope of government. Some of these cuts will be difficult and I call on the American people, through their charity to care for each other.

Elimination of all "earmarks".

10% tax reduction across all marginal tax rates.

Suspension of capital gain taxes on all securities purchased in 2009 and sold after 2010,

Accelerated depreciation of all business purchases up to $500,000

Suspension of the FICA tax for 2009

$1500 per year tax credit for three years for any automobile purchased in 2009, increased to $2500 for any qualified auto with a MPG greater than 45 MPG.

While I am sure that we will soon recover, we need to make sure this never happens again. Tomorrow I am going to direct the SEC to establish close regulations, to ensure that all financial institutions must clear esoteric investment vehicles do not again infect our economic and financial system.