Transcript: Democratic Response to President Bush's Radio Address

A transcript of the Democratic radio response to President Bush's radio address on Oct. 11:

Good morning. This is Senator Joe Biden.

All across America, people are trying to figure out what the tough economic news of this past week means for them and for their families.

But for too many Americans, the economy didn't start collapsing this week, this month, or even this year.

For too long, families have been asking questions as simple as they are profound:

Will I have a job next month? Can we afford to go to the doctor? To fill the gas tank? Is my house still worth what I paid for it? Will I be able to send the kids to college? Or retire?

Nothing less than our future prosperity and security are at stake in this election.

That's why it's been so disappointing that our opponents don't seem to want to talk about the economy.

One of John McCain's top political strategists recently said, and I'm quoting, "We are looking forward to turning a page on this financial crisis." He didn't mean solving the crisis. He meant ignoring it and attacking Barack Obama. Well, most Americans don't have the luxury of ignoring the economy.

The only new idea Senator McCain has offered in this financial crisis is to have taxpayers pay top dollar for bad mortgages all across America. John's plan doesn't demand that the outfits that helped dig us in this hole actually help families get out of the hole. Instead, it rewards them for their bad behavior and guarantees that American taxpayers will lose even more money than they've already lost.

Barack and I want to take a different approach. In this housing crisis, we're going to make it easier for families to stay in their homes - we're going to do it by changing the bankruptcy laws, and allowing judges to reduce the amount of money actually owed on the mortgage - not just the interest, but the amount of money owed to the bank.

Beyond that, we believe the values of our homes and the economic health of our communities are tied to one thing: jobs. And that's why all of our plans for the future are about creating jobs.

Investing $60 billion in infrastructure to rebuild America, putting millions to work in renewable energy - wind, solar, biofuels, investing in education so we can out-compete anybody... All of our plans focus on strengthening our economy by creating jobs.

Barack Obama and I measure progress in terms of the dignity and respect that exists for the middle class.

How the folks like the ones I grew up with in Scranton and Wilmington, Delaware are doing. How the people Barack worked with on the South Side of Chicago are doing. This is the most important election of our lives. This is our chance to make the changes our country so urgently needs.

So I hope you'll join me in these final days, in talking about the issues that matter to all of us ... and in working to make sure that Barack Obama is the next President of the United States.

This is Joe Biden. Thank you for listening, and may God bless America and may God protect our troops.