This is what George Bush should have said to us in 2007, Barack Obama in 2009, and the next President should say in 2013. Ron Paul is saying this right now. All others are unfortunately sugar-coating, stalling, and pandering.
Folks, we are in serious trouble and there is no easy way out of it. We’ve been greedy, entitled, and incompetent. We are in a depression. Our economy is in the midst of a massive correction after decades of irrational exuberance. As your leader I will do my best along with the leaders in Congress to contain the mess all of us have created, but the day of Reckoning is here. All of us – rich people, poor people, and middle class people are going to be hit hard. Failed businesses will be liquidating debt and a lot of irresponsible enterprises will be going out of business. Our investment banking system has failed and it will therefore never be the same. It is tragic that innocent people will be hurt because of the decisions made by other people, but unfortunately there is little we can do about that and still abide by our constitutional principles.
The federal government has been lying to you for decades. We are functionally bankrupt. We simply cannot afford all of the stuff we have been implying we could afford. We have unsustainable debt. We will fund the essential things but we are going to need to drastically cut back on a lot of administrative excess, which means workers will be furloughed, benefits cut, and services will be eliminated. We will continue to protect you militarily but we are beginning a serious curtailment of our overseas expansion because we cannot afford it anymore. These are serious times that require serious solutions.
We need to stick together as a people and we will get through this. It will be difficult but we will prevail.