English subtitles for clip: File:2013-12-07 President Obama's Weekly Address.webm

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The President:
Hi, everybody.

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The holiday season is a time for
remembering the bonds we share,

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and our obligations to
one another as human beings.

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But right now, more than one
million of our fellow Americans

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are poised to lose
a vital economic lifeline

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just a few days after Christmas

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if Congress doesn't
do something about it.

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Our top priority as a country
should be restoring opportunity

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and broad-based economic
growth for all Americans.

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And yesterday, we learned
that our businesses

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created about 200,000 jobs
in the month of November.

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That's more than 8 million
new jobs in the last 45 months.

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And the unemployment rate
fell to its lowest level

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in five years.

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But we need to do everything
we can to help businesses

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create more good jobs that
pay good wages even faster.

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Because the hole that
we're still digging out of

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means that there are still 
millions of Americans

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looking for work -

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often because
they've been laid off

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through no fault of their own.

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We also have to look out for
the Americans working hard

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to get those jobs.

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That's why, as a country,

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we offer temporary
unemployment insurance -

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so that job-seekers
don't fall into poverty,

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and so that when
they get that job,

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they bounce back more quickly.

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For many families,
it can be the difference

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between hardship
and catastrophe.

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It makes a difference for a
mother who suddenly doesn't know

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if she'll be able to put food
on the table for her kids.

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It makes a difference for
a father who lost his job

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and is looking for a new one.

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Last year alone,

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it lifted 2.5 million
people out of poverty,

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and cushioned the
blow for many more.

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But here's the thing:
if Members of Congress don't act

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before they leave
on their vacations,

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1.3 million Americans
will lose this lifeline.

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These are people we know.

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They're our friends
and neighbors;

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they sit next to us in church

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and volunteer
in our communities;

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their kids play with our kids.

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And they include 20,000 veterans

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who've served this
country with honor.

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If Congress refuses to act,

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it won't just hurt families 
already struggling -

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it will actually
harm our economy.

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Unemployment insurance is one of
the most effective ways there is

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to boost our economy.

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When people have money to
spend on basic necessities,

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that means more customers
for our businesses

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and, ultimately, more jobs.

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And the evidence shows
that unemployment insurance

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doesn't stop people from
trying hard to find work.

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Just this week, the nonpartisan
Congressional Budget Office

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predicted that allowing
benefits to expire

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will be a drag on our
economic growth next year.

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A report by
the Department of Labor

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and my Council
of Economic Advisors

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estimated that it could
cost businesses 240,000 jobs.

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And without the ability to feed
their families or pay the bills,

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many people currently
looking for work

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could stop looking for good.

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So extending
unemployment insurance

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isn't just the right thing
to do for our families -

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it's the smart thing
to do for our economy.

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And it shouldn't
be a partisan issue.

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For decades, Congress has voted
to offer relief to job-seekers -

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including when the unemployment
rate was lower than it is today.

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But now that economic
lifeline is in jeopardy.

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All because Republicans
in this Congress -

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which is on track to be the
most unproductive in history -

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have so far
refused to extend it.

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So this holiday season,
let's give our fellow Americans

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who are desperately looking
for work the help they need

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to keep on looking.

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Let's make it
easier for businesses

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to attract more customers,
and our economy to grow.

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And together, let's keep
doing everything we can

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to make this country a place 
where anyone who works hard

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has a chance to get ahead.

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Thanks everybody,
and have a great weekend.