Transcript: Bill Clinton's remarks at the DNC

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During this period -- during this period, more than 500,000 manufacturing jobs have been created under President Obama. That's the first time manufacturing jobs have increased since the 1990s.

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And I'll tell you something else. The auto industry restructuring worked. It saved...

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It saved more than a million jobs, and not just at G.M., Chrysler, and their dealerships, but in auto parts manufacturing all over the country. That's why even the automakers who weren't part of the deal supported it. They needed to save those parts suppliers, too. Like I said, we're all in this together.

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So what's happened? There are now 250,000 more people working in the auto industry than on the day the companies were restructured.

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So -- now, we all know that Governor Romney opposed the plan to save G.M. and Chrysler. So here's another job score. Are you listening in Michigan and Ohio and across the country?

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Here -- here's another job score. Obama: 250,000. Romney: zero.

AUDIENCE: Zero!

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CLINTON: Now, the agreement the administration made with the management, labor, and environmental groups to double car mileage, that was a good deal, too. It will cut your gas prices in half, your gas bill. No matter what the price is, if you double the mileage of your car, your bill will be half what it would have been. It will make us more energy independent. It will cut greenhouse gas emission. And according to several analyses, over the next 20 years, it will bring us another 500,000 good, new jobs into the American economy.

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The president's energy strategy, which he calls all-of-the-above, is helping, too. The boom in oil and gas production, combined with greater energy efficiency, has driven oil imports to a near 20-year low and natural gas production to an all-time high. And renewable energy production has doubled.

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Of course, we need a lot more new jobs, but there are already more than 3 million jobs open and unfilled in America, mostly because the people who apply for them don't yet have the required skills to do them. So even as we get Americans more jobs, we have to prepare more Americans for the new jobs that are actually going to be created. The old economy is not coming back. We've got to build a new one and educate people to do those jobs.

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The president and his education secretary have supported community colleges and employers in working together to train people for jobs that are actually open in their communities. And even more important, after a decade in which exploding college costs have increased the dropout rate so much that the percentage of our young people with four-year college degrees has gone down so much that we have dropped to 16th in the world in the percentage of young people with college degrees.

So the president's student loan reform is more important than ever. Here's what it does. Here's what it does. Here's what it does.

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You need to tell every voter where you live about this. It lowers the cost of federal student loans. And even more important, it gives students the right to repay those loans as a clear, fixed, low percentage of their income for up to 20 years.

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Now, what does this mean? What does this mean? Think of it. It means no one will ever have to drop out of college again for fear they can't repay their debt.

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And it means -- it means that if someone wants to take a job with a modest income, a teacher, a police officer, if they want to be a small-town doctor in a little rural area, they won't have to turn those jobs down because they don't pay enough to repay the debt. Their debt obligation will be determined by their salary. This will change the future for young Americans.

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CLINTON: I don't know about you, but all these issues, I know we're better off because President Obama made the decisions he did.

Now, that brings me to health care.

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And the Republicans call it, derisively, "Obamacare." They say it's a government takeover, a disaster, and that if we'll just elect them, they'll repeal it. Well, are they right?

AUDIENCE: No!

CLINTON: Let's take a look at what's actually happened so far. First, individuals and businesses have already gotten more than $1 billion in refunds from insurance companies because the new law requires 80 percent to 85 percent of your premium to go to your health care, not profits or promotion. And...

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The gains are even greater than that, because a bunch of insurance companies have applied to lower their rates to comply with the requirement.

Second, more than 3 million young people between 19 and 25 are insured for the first time because their parents' policies can cover them.

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