I will never forget that the only reason I'm standing here today is because somebody, somewhere stood up for me when it was risky. Stood up when it was hard. Stood up when it wasn't popular. And because that somebody stood up, a few more stood up. And then a few thousand stood up. And then a few million stood up. And standing up, with courage and clear purpose, they somehow managed to change the world.

I think when you're governing, it will become increasingly apparent that if you were to just eliminate trade deals with Mexico, for example, well, you've got a global supply chain. The parts that are allowing auto plants that were about to shut down to now employ double shifts is because they're bringing in some of those parts to assemble out of Mexico. And so it's not as simple as it might have seemed.

We've got to be able to distinguish between dangerous individuals who need to be incapacitated and incarcerated versus young people who are in an environment in which they are adapting, but if given different opportunities, a different vision of life, could be thriving the way we are. That's what strikes me. There but for the grace of God. And that, I think, is something that we all have to think about.

Independent economists say immigration reform will grow our economy and shrink our deficits by almost $1 trillion in the next two decades. And for good reason: when people come here to fulfill their dreams - to study, invent, and contribute to our culture - they make our country a more attractive place for businesses to locate and create jobs for everyone. So let's get immigration reform done this year.

I know many of you are hurting and angry about the economy, and I don't blame you. It's the worst economy since the Great Depression. When consumers can't buy and businesses won't expand for lack of customers, the government has to be the purchaser and employer of last resort. We learned that in the Great Depression, but Republicans obviously didn't - and they've blocked every jobs program I've offered.

We have to find ways in which, collectively, we agree there's some things that government needs to do to help protect us, that in this age of non-state actors who can amass great power, I want my government - and I think the German people should want their government - to be able to find out if a terrorist organization has access to a weapon of mass destruction that might go off in the middle of Berlin.

You may want to prove that you're worthy of other kids or neighbors who were wealthier than you and teased you. You may want to prove that you're worthy of high expectations. But I do think that there is a youthful ambition that very much has to do with making your mark in the world. And I think that cuts across the experiences of a lot of people who end up achieving something significant in their field.

We've got to be able to have a conversation and recognize we're all Americans; we all want the best for this country. We may have some disagreements in terms of how to get there, but all of us want to make sure that our economy is strong, that jobs are growing. All of us want to make sure that people aren't bankrupt when they get sick. All of us want to make sure that young people can afford an education.

When it comes to preventing Iran from obtaining a nuclear weapon, I will take no options off the table. ... That includes all elements of American power: a political effort aimed at isolating Iran, a diplomatic effort to sustain our coalition and ensure that the Iranian program is monitored, an economic effort that imposes crippling sanctions and, yes, a military effort to be prepared for any contingency.

When this crisis began, crucial decisions about what would happen to some of the world's biggest companies - companies employing tens of thousands of people and holding trillions of dollars in assets - took place in hurried discussions in the middle of the night. We should not be forced to choose between allowing a company to fall into a rapid and chaotic dissolution or forcing taxpayers to foot the bill.

In terms of my conversations with [Vladimir] Putin, these are conversations that took place before the election. As I indicated, there has been very clear proof that they have engaged in cyber attacks. This isn't new. It's not unique to Russia. There are a number of states where we've seen low-level cyber attacks and industrial espionage and, you know, other behavior that we think should be out of bounds.

Here in Europe some of the challenges have to do with structures that are so complicated. You've got Brussels, and you've got parliament, you've got councils and then you've got national governments. So people sometimes don't feel as if they know who's making decisions, and the more that we can bring people in and engage them, the better. Some of it is also cultural and social, people's sense of identity.

We, the people, still believe that our obligations as Americans are not just to ourselves, but to all posterity. We will respond to the threat of climate change, knowing that the failure to do so would betray our children and future generations. Some may still deny the overwhelming judgment of science, but none can avoid the devastating impact of raging fires and crippling drought and more powerful storms.

One of the things you learn as president is, as powerful as this office is, you have limited bandwidth. And the time goes by really quickly and you're constantly making choices, and there are pressures on you from all different directions - pressures on your attention, not just pressures from different constituencies. And so you have to be pretty focused about where can you have the biggest, quickest impact.

I found during the course of my political career on the national scene there's a point where the vanity burns away and you've had your fill of your name in the papers, or big adoring crowds, or the exercise of power. And for me that happened fairly quickly. And then you are really focused on: What am I going to get done with this strange privilege that's been granted to me? How do I make myself worthy of it?

Look, first of all, the climate is changing. I don't think the science is clear what percentage is man-made and what percentage is natural. It's convoluted. And for the people to say the science is decided on, this is just really arrogant, to be honest with you, it's this intellectual arrogance that now you can't even have a conversation about it. The climate is changing, and we need to adapt to that reality.

The American people are a non-ideological people. They very much are looking for common-sense, practical solutions to the problems that they face. Oftentimes they've got contradictory senses of various issues and policy positions and I don't think that either the Republican Party or the Democratic Party necessarily capture their deepest dreams when those parties are described in caricature or in policy terms.

Israel has legitimate concerns about its security relative to Iran. I mean, you have a large country with a significant military that has proclaimed that Israel shouldn't exist, that has denied the Holocaust, that has financed Hezbollah, and as a consequence, there are missiles that are pointed towards Tel Aviv. There are very good reasons why Israelis are nervous about Iran's position in the world generally.

There is a wonderful book called "Gandhi's Truth," by Erik Erikson, the psychologist. It is a great book. And I remember reading that and thinking about this connection between what we think in our personal lives and how that manifests itself in our politics. Those are two books, just off the top, that I think are sort of representative of reading that I did at that time. I never get a chance to read anymore.

After a decade of profligacy, the American people are tired of politicians who talk the talk but don't walk the walk when it comes to fiscal responsibility. It's easy to get up in front of the cameras and rant against exploding deficits. What's hard is actually getting deficits under control. But that's what we must do. Like families across the country, we have to take responsibility for every dollar we spend.

They will tell you that the Americans who sleep in the streets and beg for food got there because they’re all lazy or weak of spirit. That the inner-city children who are trapped in dilapidated schools can’t learn and won’t learn and so we should just give up on them entirely. That the innocent people being slaughtered and expelled from their homes half a world away are somebody else’s problem to take care of.

Inequality also distorts our democracy. It gives an outsized voice to the few who can afford high-priced lobbyists and unlimited campaign contributions, and runs the risk of selling out our democracy to the highest bidder. And it leaves everyone else rightly suspicious that the system in Washington is rigged against them - that our elected representatives aren't looking out for the interests of most Americans.

I began feeling the way I imagine an actor or athlete must feel when, after years of commitment to a particular dream...he realizes that he's gone just about as far as talent or fortune will take him. The dream will not happen, and he now faces the choice of accepting this fact like a grownup and moving on to more sensible pursuits, or refusing the truth and ending up bitter, quarrelsome, and slightly pathetic.

This Administration also puts forward a false choice between the liberties we cherish and the security we demand... That means no more illegal wire-tapping of American citizens. No more national security letters to spy on citizens who are not suspected of a crime. No more tracking citizens who do nothing more than protest a misguided war. No more ignoring the law when it is inconvenient. That is not who we are.

Our government should work for us, not against us. It should help us, not hurt us. It should ensure opportunity not just for those with the most money and influence, but for every American who's willing to work. That's the promise of America - the idea that we are responsible for ourselves, but that we also rise or fall as one nation; the fundamental belief that I am my brother's keeper; I am my sister's keeper.

I could never be a politician. But as uncomfortable as I would be doing so, I have no problem with Obama's long-planned 'change of heart.' This dude's made huge, measurable strides for gay rights, and if being coy about his plans for gay marriage for a few years was needed to get him elected, then so be it. LGBT persons will be better off, and federal same-sex marriage recognition will come sooner because of it.

We were very effective, and I was very effective, in shaping public opinion around my campaigns. But there were big stretches, while governing, where even though we were doing the right thing, we weren't able to mobilize public opinion firmly enough behind us to weaken the resolve of the Republicans to stop opposing us or to cooperate with us. And there were times during my presidency where I lost the PR battle.

To overcome extremism, we must also be vigilant in upholding the values our troops defend – because there is no force in the world more powerful than the example of America. That is why I have ordered the closing of the detention center at Guantanamo Bay, and will seek swift and certain justice for captured terrorists – because living our values doesn't make us weaker, it makes us safer and it makes us stronger.

I thought I could start over, you see. But now I know you can never start over. Not really. You think you have control, but you are like a fly in somebody else's web. Sometimes I think that's why I like accounting. All day, you are only dealing with numbers. You add them, multiply them, and if you are careful, you will always have a solution. There's a sequence there. An order. With numbers, you can have control.

I think we can provide common-sense approaches to the issue of illegal guns that are ending up on the streets. We can make sure that criminals don't have guns in their hands. We can make certain that those who are mentally deranged are not getting a hold of handguns. We can trace guns that have been used in crimes to unscrupulous gun dealers that may be selling to straw purchasers and dumping them on the streets.

Non-Islamic, non-foreign-motivated terrorist actions have killed at least as many Americans on American soil as those who were promoted by jihadists. But what we have also seen is ISIL evolve, because of the sophistication of their social media, to a point where they may be inspiring more attacks - even if they're self-initiated, even if they don't involve complex planning - than we would have seen some time ago.

Despite all the noise and hullabaloo - military cooperation, intelligence cooperation, all of that has continued. We have defended them consistently in every imaginable way. But I also believe that both for our national interests and Israel's national interests that allowing an ongoing conflict between Israelis and Palestinians that could get worse and worse over time is a problem. And that settlements contribute.

I have 90 percent or 95 percent support in the African American community and it's not sort of "Well, he's black, so it's okay. We're not going to say anything even though we're seething." And I hang out with a lot of middle-aged black women, and they're not casual in their support of me. There's a lot of love forthcoming. Partly because they understand the constraints of this society. They know that this is hard.

We do have to balance this issue of privacy and security. Those who pretend that there's no balance that has to be struck and think we can take a 100-percent absolutist approach to protecting privacy don't recognize that governments are going to be under an enormous burden to prevent the kinds of terrorist acts that not only harm individuals, but also can distort our society and our politics in very dangerous ways.

I don't want to exaggerate; having as many African American men as we've had in the criminal-justice system, and the amount of time it takes for the damage done by that to wash through our society and our communities, the disadvantages born out of kids being undiagnosed with mental-health problems early, or not getting the kind of exposure to reading and math when they're 4 or 5 or 6 years old, that carries a cost.

Even as we do all that's necessary to ensure Israel's security, even as we are clear-eyed about the difficult challenges before us, and even as we pledge to stand by Israel through whatever tough days lie ahead, I hope we do not give up on that vision of peace. For if history teaches us anything, if the story of Israel teaches us anything, it is that with courage and resolve, progress is possible. Peace is possible.

Enforcement priorities developed by my administration are not affected by this ruling. This means that the people who might have benefited from the expanded deferred action policies, long-term residents raising children who are Americans or legal residents, they will remain low priorities for enforcement, as long as you have not committed a crime, our limited immigration enforcement resources are not focused on you.

We have to stand up for these issues when it's tough, and that's what I've done. I did it when I was in the state legislature, sponsoring the Illinois version of the DREAM Act, so that children who were brought here through no fault of their own are able to go to college, because we actually want well-educated kids in our country who are able to succeed and become part of this economy and part of the American dream.

In November [2016], Americans are gonna have to make a decision about what we care about and who we are. We get these spasms of politics around immigration and fearmongering and then our traditions and our history and our better impulses kick in. That's how we all ended up here. 'Cause I guarantee you at some point every one of us has somebody in our background who people didn't want coming here. And yet here we are.

As tough as things have been, I am convinced you are tougher. I've seen your passion and I've seen your service. I've seen you engage and I've seen you turn out in record numbers. I've heard your voices amplified by creativity and a digital fluency that those of us in older generations can barely comprehend. I've seen a generation eager, impatient even, to step into the rushing waters of history and change its course.

I applaud the Supreme Court’s decision to strike down the Defense of Marriage Act. This was discrimination enshrined in law. It treated loving, committed gay and lesbian couples as a separate and lesser class of people. The Supreme Court has righted that wrong, and our country is better off for it. We are a people who declared that we are all created equal - and the love we commit to one another must be equal as well.

That is the story of our history - whether it's the pursuit of prosperity for our people or the struggle for equality for all of our citizens, our commitment to stand up for our values abroad, and our sacrifices to make the world a safer place. Let us remember that we can do these things not just because of wealth or power, but because of who we are. One nation under God, indivisible, with liberty and justice for all.

In the campaign back in 2007, 2008, people would say, "Oh, he's being naïve. He thinks that there's no red states and blue states. And wait 'til he gets here." And I will confess that, I didn't fully appreciate the ways in which individual senators or members of Congress now are pushed to the extremes by their voter bases. I did not expect, particularly in the midst of crisis, just how severe that partisanship would be.

I've called on Congress to repeal the so-called Defense of Marriage Act to help end discrimination to help end discrimination against same-sex couples in this country. Now, I want to add we have a duty to uphold existing law, but I believe we must do so in a way that does not exacerbate old divides. And fulfilling this duty in upholding the law in no way lessens my commitment to reversing this law. I've made that clear.

And when it comes to developing the high standards we need, it's time to stop working against our teachers and start working with them. Teachers don't go in to education to get rich. They don't go in to education because they don't believe in their children. They want their children to succeed, but we've got to give them the tools. Invest in early childhood education. Invest in our teachers and our children will succeed.

There are times where I'd say the Oval Office, you use to gather the facts. The decisions you probably make late at night, or at least I do. But there are some times where you think you've made a decision, but during that walk, where you're announcing the decision, you've just got to make sure that, you're prepared to live with it, because as you know George, a lot of these decisions are not - the outcomes are uncertain.

The American story has never been about things coming easy. It has been about rising to the moment when the moment is hard. About rejecting panicked division for purposeful unity. About seeing a mountaintop from the deepest valley. That is why we remember that some of the most famous words ever spoken by an American came from a president who took office in a time of turmoil: "The only thing we have to fear is fear itself.

What is required of us now is a new era of responsibility - a recognition, on the part of every American, that we have duties to ourselves, our nation, and the world, duties that we do not grudgingly accept but rather seize gladly, firm in the knowledge that there is nothing so satisfying to the spirit, so defining of our character, than giving our all to a difficult task. This is the price and the promise of citizenship.

In my heart I know you didn't come here just for me, you came here because you believe in what this country can be. In the face of war, you believe there can be peace. In the face of despair, you believe there can be hope. In the face of a politics that's shut you out, that's told you to settle, that's divided us for too long, you believe we can be one people, reaching for what's possible, building that more perfect union.

I believe that the free enterprise system is the greatest engine of prosperity the world's ever known. I believe in self-reliance and individual initiative and risk-takers being rewarded. But I also believe that everybody should have a fair shot and everybody should do their fair share and everybody should play by the same rules, because that's how our economy's grown. That's how we built the world's greatest middle class.

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