Chris Good has a story coming, but while you wait here is the full text of Obama's speech. After being introduced by New York City Mayor Michael Bloomberg, Obama laid out "six core principles for reform" and proposed a second stimulus package.

Obama called President George Bush's plan "completely divorced from reality." The Illinois Senator also hit John McCainJohn McCainEx-Bush aide Nicolle Wallace to host MSNBC show Meghan McCain: Obama 'a dirty capitalist like the rest of us' Top commander: Don't bet on China reining in North Korea MORE saying McCain's plan "amounts to little more than watching this crisis happen."


McCain spokesman Tucker Bounds had a ready response to Obama's speech. "No amount of rhetoric can hide Senator Obama's clear record of embracing the liberal tax and spend, big government policies that hit hardworking American families at a time when they're most vulnerable, and are certain to move America backward," Bounds said.


Obama does not mention Hillary ClintonHillary Rodham ClintonDems seeing big increase in midterm House candidates When it comes to Israel, Trump’s first 100 days were one big fail Democratic leaders hurt their own party by ousting pro-life voters MORE in the speech. Read the entire speech after the jump. Video here.


I want to thank Mayor Bloomberg for his extraordinary leadership. At a time when Washington is divided in old ideological battles, he shows us what can be achieved when we bring people together to seek pragmatic solutions. Not only has he been a remarkable leader for New York