$500M program aimed at curbing gun violence

President Barack Obama gets a high-five from 8-year-old letter writer Grant Fritz during a news conference on proposals to reduce gun violence, Wednesday, Jan. 16, 2013, in the South Court Auditorium at the White House in Washington. Obama and Biden were joined by law enforcement officials, lawmakers and children who wrote the president about gun violence following the shooting at an elementary school in Newtown, Conn., last month.

Credit: AP Photo/Susan Walsh

Credit: AP Photo/Susan Walsh

President Barack Obama gets a high-five from 8-year-old letter writer Grant Fritz during a news conference on proposals to reduce gun violence, Wednesday, Jan. 16, 2013, in the South Court Auditorium at the White House in Washington. Obama and Biden were joined by law enforcement officials, lawmakers and children who wrote the president about gun violence following the shooting at an elementary school in Newtown, Conn., last month.

President Barack Obama announced today $500 million will fund a program aimed at curbing gun violence.

In his speech, he said he wants a ban on military assault weapons and a limit of ammunition magazines to 10 rounds. Other points from Obama:

* Said 900 Americans have died from gunshot wounds since the Sandy Hook shooting a month ago

* Will sign directive giving law enforcement, mental health officials needed tools

* Called on Congress to “require a universal background check for anyone trying to buy a gun.”

Obama said while he wants restrictions put in place, he agrees with the right to bear arms.

“Let me be absolutely clear,” he said. “Like most Americans, I believe the 2nd Amendment guarantees an individual right to bear arms.”

Obama also said he respect’s the country’s strong tradition of gun ownership.