Prepared Remarks of President Barack Obama
Weekly Address
The White House
September 26, 2009


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This week, I joined leaders from around the world at the United Nations and the G-20 economic summit in Pittsburgh. Today, I can report on what we achieved-a new commitment to meet common challenges, and real progress in advancing America's national security and economic prosperity.

As I said at the U.N., over the past nine months my administration has renewed American leadership, and pursued a new era of engagement in which we call upon all nations to live up to their responsibilities. This week, our engagement produced tangible results in several areas.

In Pittsburgh, the world's major economies agreed to continue our effort to spur global demand to put our people back to work. We committed ourselves to economic growth that is balanced and sustained- so that we avoid the booms and busts of the past. We reached an historic agreement to reform the global financial system-to promote responsibility and prevent abuse so that we never face a crisis like this again. And we reformed our international economic architecture, so that we can better coordinate our effort to meet the challenges of the 21st century.

We also established American leadership in the global pursuit of the clean energy of the 21st century. I am proud that the G-20 nations agreed to phase out $300 billion worth of fossil fuel subsidies. This will increase our energy security, reduce greenhouse gas emissions, combat the threat of climate change, and help create the new jobs and industries of the future.