January 8, 2009 MS President-Elect Barack Obama giving a speech on the economy at George Mason University/ Fairfax, Virg

The video emphasizes the need for a new spirit of responsibility and change in Washington to set a better course for America. It acknowledges the short-term increase in the budget deficit but highlights the greater risks of inaction. The government is seen as crucial in providing a short-term economic boost to break negative cycles of spending and credit. The plan involves putting money in people's pockets, creating jobs, and ensuring future crises are prevented.

What is the primary reason for changing the ways of Washington according to the speaker?

• To increase government spending

• To improve international relations

• To set a new and better course for America

• To reduce taxes

What does the speaker identify as a consequence of doing too little or nothing at all?

• A decrease in government control

• A greater deficit of jobs, incomes, and confidence

• An increase in international trade

• A rise in technological advancements

Why does the speaker believe only the government can provide a short-term boost in the current economic situation?

• Because international aid is unavailable

• Because the recession is too deep and severe

• Because private companies are unwilling to invest

• Because taxes are too high

What cycle does the government need to break to help the economy recover?

• The cycle of increased taxation

• The cycle of reduced spending and job losses

• The cycle of technological innovation

• The cycle of international trade deficits

What actions does the speaker suggest to prevent a future economic crisis?

• Encouraging more consumer spending

• Restarting credit flow and restoring regulations

• Reducing government regulations

• Increasing taxes on imports