Text of President Barack Obama's news conference on Wednesday at the White House, as transcribed by CQ Transcriptions:
OBAMA: Before we begin tonight, I just want to provide everyone with a few brief updates on some of the challenges we're dealing with right now.
First, we are continuing to closely monitor the emergency cases of the H1N1 flu virus throughout the United States. As I said this morning, this is obviously a very serious situation, and every American should know that their entire government is taking the utmost precautions and preparations.
Our public health officials have recommended that schools with confirmed or suspected cases of this flu strongly consider temporarily closing. And if more schools are forced to close, we've recommended that both parents and businesses think about contingency plans if their children do have to stay home.
I've requested an immediate $1.5 billion in emergency funding from Congress to support our ability to monitor and track this virus and to build our supply of antiviral drugs and other equipment. And we will also ensure that those materials get to where they need to be as quickly as possible.
And, finally, I've asked every American to take the same steps you would take to prevent any other flu: Keep your hands washed; cover your mouth when you cough; stay home from work if you're sick; and keep your children home from school if they're sick.
We'll continue to provide regular updates to the American people as we receive more information. And everyone should rest assured that this government is prepared to do whatever it takes to control the impact of this virus.
The second thing I'd like to mention is how gratified I am that the House and the Senate passed a budget resolution today that will serve as an economic blueprint for this nation's future.
I especially want to thank Leader Reid, Speaker Pelosi, all of the members of Congress who worked so quickly and effectively to make this blueprint a reality.
This budget builds on the steps we've taken over the last 100 days to move this economy from recession to recovery and ultimately to prosperity.
We began by passing a Recovery Act that has already saved or created over 150,000 jobs and provided a tax cut to 95 percent of all working families. We passed a law to provide and protect health insurance for 11 million American children whose parents work full time. And we launched a housing plan that has already contributed to a spike in the number of homeowners who are refinancing their mortgages, which is the equivalent of another tax cut.
But even as we clear away the wreckage of this recession, I've also said that we can't go back to an economy that's built on a pile of sand, on inflated home prices and maxed-out credit cards, on overleveraged banks and outdated regulations that allow recklessness of a few to threaten the prosperity of all.
We have to lay a new foundation for growth, a foundation that will strengthen our economy and help us compete in the 21st century. And that's exactly what this budget begins to do.
It contains new investments in education that will equip our workers with the right skills and training, new investments in renewable energy that will create millions of jobs and new industries, new investments in health care that will cut costs for families and businesses, and new savings that will bring down our deficit.
I also campaigned on the promise that I would change the direction of our nation's foreign policy. And we've begun to do that, as well. We've begun to end the war in Iraq, and we forged with our NATO allies a new strategy to target al-Qaida in Afghanistan and Pakistan.
We have rejected the false choice between our security and our ideals by closing the detention center at Guantanamo Bay and banning torture without exception.
And we've renewed our diplomatic efforts to deal with challenges ranging from the global economic crisis to the spread of nuclear weapons.
So I think we're off to a good start, but it's just a start. I'm proud of what we've achieved, but I'm not content. I'm pleased with our progress, but I'm not satisfied.
Millions of Americans are still without jobs and homes, and more will be lost before this recession is over. Credit is still not flowing nearly as freely as it should. Countless families and communities touched by our auto industry still face tough times ahead. Our projected long-term deficits are still too high, and government is still not as efficient as it needs to be.
We still confront threats ranging from terrorism to nuclear proliferation, as well as pandemic flu. And all this means you can expect an unrelenting, unyielding effort from this administration to strengthen our prosperity and our security in the second hundred days, in the third hundred days and all of the days after that.
You can expect us to work on health care reform that will bring down costs while maintaining quality, as well as energy legislation that will spark a clean-energy revolution. I expect to sign legislation by the end of this year that sets new rules of the road for Wall Street, rules that reward drive and innovation, as opposed to shortcuts and abuse.
And we will also work to pass legislation that protects credit card users from unfair rate hikes and abusive fees and penalties. We'll continue scouring the federal budget for savings and target more programs for elimination. And we will continue to pursue procurement reform that will greatly reduce the no-bid contracts that have wasted so many taxpayer dollars.
So we have a lot of work left to do. It's work that will take time, and it will take effort. But the United States of America, I believe, will see a better day.
We will rebuild a stronger nation, and we will endure as a beacon for all of those weary travelers beyond our shores who still dream that there's a place where all of this is possible.