President Obama addressed a joint session of Congress last night to push his response to the economic crisis, promise healthcare reform and vow an end to the Iraq war. In a fifty-two-minute speech, Obama touched on the banking crisis but revealed few details of how he plans to steer banks like Citigroup and Bank of America from collapse.

President Obama: “This plan will require significant resources from the federal government and, yes, probably more than we’ve already set aside. But while the cost of action will be great, I can assure you that the cost of inaction will be far greater, for it could result in an economy that sputters along for not months or years, but perhaps a decade.”

Obama called on Congress to invest in areas like energy, healthcare and education, while stressing the need to reduce the federal deficit. Without offering details, Obama also urged what his administration has called its top fiscal priority: healthcare reform.

President Obama: “I suffer no illusions that this will be an easy process. Once again, it will be hard. But I also know that nearly a century after Teddy Roosevelt first called for reform, the cost of our healthcare has weighed down our economy and our conscience long enough. So let there be no doubt: healthcare reform cannot wait, it must not wait, and it will not wait another year.”