Remarks by the President at a Campaign Event -- Private Residence, Chicago, IL

Private Residence
Chicago, Illinois

9:00 P.M. CDT

THE PRESIDENT:  Thank you, everybody.  (Applause.)  Thank you.  Well, first of all, it is just good to be home.  And it is good to be back with so many close friends. 

Jim was in some ways being modest, because he talked about supporting me for my presidential race -- but, like so many of you here, like folks like John and Neil and other folks in this room -- actually the Crown family from the grandpas all the way to the grandkids, they supported me when I ran for State Senate; supported me when I lost a congressional race; supported me when I won my Senate race; and then supported me in my run for the presidency.  These guys have been friends for a really long time. And Michelle and I love them to death, and to see how remarkable their children have turned out, watching them grow up, is a great thing to see.  So please give the Crowns a big round of applause. (Applause.) 

So I am not going to give a long speech.  This really is family.  You guys know me.  You don't need to hear a lot of speechmaking.  What I want to do is mostly answer questions and entertain ideas and comments from you.  But what I do want to just say briefly is both what this campaign is going to be about and why it's going to be so important.

There are going to be a lot of issues involved because we have probably as sharp a contrast between two candidates as we've seen in a very long time -- substantively.  I feel very strongly we've got to have comprehensive immigration reform. 
We're a nation of laws and a nation of immigrants.  Governor Romney has a different view.  I care very deeply about women's health issues.  Governor Romney thinks differently about those issues. 

I very much believe that the environment and making sure that we're protecting it for the next generation is consistent not just with Democratic traditions, but with traditions dating back to Teddy Roosevelt, a Republican.  Mr. Romney disagrees with me. 

So there are going to be a whole set of issues to debate.  But the essence of this campaign is going to be about the economy.  It's going to be about how do we create an economy that works for everybody, that is dynamic, that is competitive, that meets the challenges of the 21st century, and provides a platform where everybody who's willing to work hard can succeed.  And I mean everybody -- whatever their background, race, gender, surname, faith -- that if you're willing to apply yourself and do everything it takes to follow your dream, that you can make it in this country. 

And not everybody is going to make it like a Lester Crown or a Neil Blum, but you should be able to find a job that pays a living wage, and buy a home and send your kids to college and imagine that they're going to do better than you did, and have some sense of security after a lifetime of labor. 

And the big challenge is not just since this financial crisis but for a decade before that people felt that that basic compact was slipping away, that basic security was being lost, that rewards weren’t matching up to effort and responsibility. And so that is going to be the essence of the debate:  Who has got a vision for how we make sure that the next generation of Americans as well as this generation of Americans can succeed if they're responsible and they're working hard.

Now, obviously so much of that debate is going to be colored by the fact that we've had an unprecedented crisis, something we haven’t seen at least since the 1930s.  And today's job report reminds us that for all the progress we've made, the world economy is integrated and it's still fragile.  Too many people still out of work.  Too many folks still have homes underwater.  Too many people are still struggling to pay the bills.  Too many people are still struggling with debt. 

But the truth is, is that the steps we took back in 2009 and 2010 have helped to stabilize this economy.  It is growing.  We've created more than 4 million jobs, more than 800,000 in the last few months alone.  And if as we work with other countries in Europe but also in Asia to try to restore a sense of stability in the world economy, then I have no doubt that we can continue on a path of growth.  But that alone is not enough. 

And so the debate is going to have to extend beyond just how do we solve immediate crises; it's going to be how do we make sure that every child is getting the kind of education they need in the 21st century.  It's going to be how we continue to make progress on energy independence and clean energy that's important for our economy, but also for our environment.  How we're going to make sure that we are reducing the costs of health care while improving the quality of health care -- because we are still spending 17 or 18 percent of our GDP on health care.  Other countries spend 11 or 12 percent and they're still getting better outcomes.  And I believe that the health care bill that we passed is pushing us in the right direction, but we're going to have more work to do on that front.

We're going to have to debate how to reduce our deficit in a way that still allows us to make the investments we need to grow, and make sure that everybody is paying their fair share, doing their part.  We're going to have to talk about how we rebuild our infrastructure and our broadband lines and our wireless and all the things that we need that provide a platform for success -- and how we're investing in basic research and development.

And on each of these questions there's just a fundamentally different vision between myself and Governor Romney.  I think he's a patriotic American.  He's had great personal success, which we applaud, and he seems to have a wonderful family.  But his recipe for how we grow an economy in a way that allows everybody to prosper, that's broad-based and lasting, is basically a retread of ideas that we tried before I came into office and didn’t work, and in fact haven’t worked for most of our history. 

And so that's what the debate is going to be about.  And there are going to be all kinds of distractions over the next five months, but I cannot wait to have that debate.  And I want the American people to hear it, with great clarity, because if they understand the choices involved I'm absolutely convinced we're going to win.  And as a consequence, I'm absolutely convinced that the 21st century is going to be the American Century just like the 20th.

So, thanks.  Thank you.  (Applause.)

END        
9:09 P.M. CDT

Remarks by the President at a Campaign Event

Chicago Cultural Center
Chicago, Illinois

6:27 P.M. CDT

THE PRESIDENT:  Hello, Chicago!  (Applause.)  Thank you.  Thank you.  (Applause.)  Ah, it is good to be back home.  I am sleeping in my bed tonight.  (Applause.)  I’m going to go into my kitchen; I might cook something for myself.  (Laughter.)  Putter around in the backyard a little bit.  It’s good to be home.  The White House is nice, but I’m just leasing.  (Laughter.)

It is so good to see so many great friends.  But I just have to point out the person who introduced me -- he was one of the best chiefs of staff that you could ever want to have.  He would be in the White House at 5:00 a.m. or 6:00 a.m., and he’d leave there at 7:00 p.m. or 8:00 p.m.  He’d take work home with him.  He’d be there on the weekends; sacrifices -- all the stuff that he did.  But as good as he was at being a chief of staff, I have never seen him happier than he is as Mayor of the City of Chicago.  (Applause.) 

He loves Chicago.  He loves its people.  He loves its institutions.  He loves its kids.  And so all the work that he is doing on behalf of making the schools better and streamlining government and making things work in every part of the city and not just some parts of the city -- that's all reflective -- all that energy, all that pent up energy -- (laughter) -- that's reflective of his love of the city.  So I just wanted to give -- everybody give a big round of applause to an outstanding Mayor, Rahm Emanuel.  (Applause.)

So I’m here because not only do I need your help, but your country needs your help.  Some of you have known me since I was running for the state senate.  (Applause.)  There were folks who saw me lose a congressional race and saw me win a U.S. Senate race.  And I know you, and I know your values, and I know what you care about.  And as much as we may have had friendships and relationships -- and that’s part of the reason you supported me in 2008 -- the election four years ago wasn’t just about me; it wasn’t about one person.  It was about our commitments to each other.  It was about core, basic beliefs we had in America and America’s future. 

We believed that everybody should have a fair shot, that everybody should do their fair share, and everybody should play by the same set of rules.  We believed that if you’re willing to work hard, if you’re willing to take responsibility, if you’re willing to be part of a community, then it doesn’t matter what you look like, where you come from, what your last name is, who you love -- (applause) --  the bottom line is that you should be able to make it in America.  That’s what this city is all about.  That’s reflective of this city.  You’ve got surnames from everywhere in Chicago -- not just Obamas -- because this has been a magnet for people who say if I work hard, I can make it.

CHILD:  I love you, Obama.

AUDIENCE:  Aww --

THE PRESIDENT:  Hi.  (Laughter.)  One of my younger friends was there. 

And that’s why we came together in 2008 -- because we felt as if, for a decade, those values were being betrayed, or at least we weren’t living up to them.  We had seen a surplus turned into a deficit -- massive deficits -- because folks got tax cuts who didn’t need them and weren’t even asking for them; two wars run on a credit card; first time in our history where we cut taxes while sending young men and women off to fight.

We had seen an economic system that was dependent on financial speculation and, frankly, a lot of recklessness.  We had seen manufacturing move overseas.  We became known as the country that was consuming things -- we were the engine of the world economy because of what we bought on credit cards or on home equity loans, instead of what we had previously been known as:  a country that made things and sold them all around the world with those three proud words: “Made in America.”

And all of this came tumbling down in a financial crisis that really began to happen just as we were still in the midst of the campaign.  So before I took office, we had lost 3 million jobs.  The month I took office, we lost 800,000 jobs; 8 million all told -- before our economic policies had a chance to take effect.  And so we had to make a series of tough decisions quickly.  We had to make sure that an iconic auto industry was saved.  (Applause.)  We had to make sure that the banking system was stabilized.  We had to make sure that teachers’ layoffs were minimized and states got some help, and middle-class families got tax cuts.  (Applause.)

And because of those decisions, we were able to stabilize the economy and begin to grow again -- because we had faith in the American people.  Most of those decisions weren’t easy.  We knew we’d be subject to political criticism, but they were the right thing to do for our country.  (Applause.)  And despite all the noise and the misinformation and the obfuscation and bamboozling -- (laughter) -- that you hear, what we did worked to help make sure that the economy began to grow again, so that we have now seen over two years of the economy growing and jobs being produced -- more than 4 million jobs produced; over 800,000 produced just this year alone.  (Applause.)

Now, here’s the thing, though:  We’re not where we need to be.  We’re not there yet.  We saw that in today’s jobs report.  Yes, a lot of that is attributable to Europe and the cloud that’s coming over from the Atlantic, and the whole world economy has been weakened by it.  And it’s having an impact on us.  But beyond that, we still know too many of our friends and family who are out of work.  And there are too many folks whose homes are still underwater.  Too many people still struggling to pay the bills.  Too many kids still locked out of opportunity. 

And when we embarked on this journey in 2008, it wasn’t just to get back to where we were before the financial crisis.  The idea was to start fixing things in a more fundamental way -- to make sure that every child in America gets a good education; to make sure people aren’t bankrupt when they get sick; to make sure we’ve actually got an energy policy that works for this country; to make sure we’re still a nation of innovators.  (Applause.)  To build an economy that lasts and that allows middle-class families to get a sense of security again.  That’s what we were fighting for.

And we’ve got more work to do.  On that front, we’ve got more work to do.  We are not satisfied.  As proud as we are of the work that we’ve gotten done, we’ve still got miles to go on this journey. 

Now, what makes this year so important is because we’ve got a contrast this time that we may not have seen in American politics in quite some time.  Even the last time we ran, we had a Republican candidate who -- I had some profound disagreements with him, but he acknowledged the need for immigration reform, and acknowledged the need for campaign finance reform -- (applause) -- acknowledged the need for policies that would do something about climate change. 

Now what we’ve got is not just a nominee but a Congress and a Republican Party that have a fundamentally different vision about where we need to go as a country.  Look, I believe they love this country.  The nominee, he’s achieved great personal success, seems to have a wonderful family -- God bless them.  But the vision that he has for this country, like the vision that Republicans in Congress have for this country, is exactly the vision that got us into this mess in the first place.  (Applause.)  Except, as Bill Clinton said a few weeks ago, it’s on steroids this time.  (Laughter.)

They don’t have a new idea about how to move the country forward.  They’re just regurgitating all the old ideas:  We want more tax cuts for some of the wealthiest individuals.  We want to cut back further on things like education and transportation and the basic investments that have allowed America to succeed.  They want further rollback to pay for the tax cuts -- our core social safety net of Medicare and Medicaid.  They want to strip away regulations that we fought to put in place to make sure, for example, that we don’t have the same kind of financial crisis on Wall Street that we just went through.  They want to strip it all away.

Their basic philosophy is:  If a few folks are doing really, really well, and we strip away whatever restraints on how the market operates to protect consumers and to make sure that everybody gets a chance and everybody can start a small business, or everybody can be out there and compete and succeed -- that if we just let everybody be on their own, that somehow we’re going to be better off.  And that is a fundamental misreading of American history.  That is not how Chicago became a great city.  That is not Illinois became a great state.  That’s not how America became a great nation.

We’re a nation of rugged individualists with an entrepreneurial spirit.  We believe in rewarding risk takers and innovators, but we also believe that we’re all in this together.  (Applause.)  We also believe that when we make investments together in quality public schools, then those kids who are being educated are going to be the workers of the future and the business leaders of the future, and we will all be richer for it.  We will all benefit.  So it’s worth us making that investment.  (Applause.)

As I was coming down the lakefront today and thinking about Daniel Burnham and “Make No Little Plans,” we understand that when we build our infrastructure and great roads and railways, and the 21st century broadband lines and wireless and high-speed rail, that that’s what helped drive us as an economic superpower. 

When we make investments in research and science, so that the government gets involved and suddenly there’s an Internet, that creates a platform for all kinds of private industry, all sorts of wealth creation, all sorts of opportunity.  We don’t do it for one individual, for one group -- we do it for everybody. 

The same way that together we paid for firefighting and police departments and national defense, there are some things we do better together.  That’s what we’ve always understood, and that is what has made this country great.

And so the choice in this election is going to be between a vision that didn’t work during 2000 and 2008; didn’t work right before the Great Depression.  We’ve gone through periodic spasms of this -- the Gilded Age, Roaring Twenties.  We've seen this philosophy before.  But the good thing is usually we come to our senses.  (Laughter.)  We realize, you know what, that's not the way our democracy is built.  That's not how this country is built.  And that's the vision that we're going to have to confront and address in this election.

Now, the good news is when you cut through the noise, if you just ask people, it turns out most people agree with this, the things that we've already done.  When you ask people, you know what, is it a good idea to make sure that we have more teachers in the classroom?  People say, absolutely.  When we tell them, you know what, taking tens of billions of dollars that were going to the banks in the student loan program, cutting out the middleman and giving that money directly to students so that college was more affordable, is that a good idea?  Absolutely.  (Applause.)

Does it make sense for us to double fuel efficiency standards on cars, so that a decade from now every car is going to be getting 55 miles per gallon, so that even though our oil production is higher than it's been in the last eight years and imports of foreign oil have actually dropped, we've also doubled clean energy so that we are starting to control our energy future and be able to do something about climate change?  Is that a good idea?  People say, yes.  (Applause.)

When we tell people, you know what, manufacturing is coming back -- you see more jobs in manufacturing than at any time since the 1990s, not just in the auto industry -- and companies are starting to say, you know what, it makes sense for us to reinvest in America again, because America has still got the best market and the best workers, why not bring some jobs home.  We're starting to see that happen.  And so, when you ask people, does it make sense for us to stop giving tax breaks to companies that are shipping jobs overseas, let's give those tax breaks to companies to help with their moving expenses to bring jobs back to America, they say, that's a good idea, we agree.  (Applause.)

And when we say to people, doesn't it make sense for us to make sure that young people can stay on their parents' health insurance plan until they're 26 -- (applause) -- and make seniors' prescription drug plans more affordable, and make sure that everybody is guaranteed preventive care and women are able to get preventive care and make determinations about their own health -- (applause) -- people say, yes, that's a good idea.  And we tell them, well, that's my health care bill.  (Laughter.)

So the good news is that the majority of the American people share our vision.  They believe that we have to work hard, each of us.  We have to take responsibility, each of us, for our families, for ourselves, for our neighborhoods, for our communities.  They understand government can't solve every problem and it shouldn't try.  They understand that not everybody can be helped if they're not willing to help themselves.  They understand that not every regulation is a smart one and not every dollar of government money is well spent.  They want lean and smarter government, the kind of government that Rahm is providing here in Chicago.  They understand those things.

But they also say, you know what, I've got obligations to something bigger.  I've got obligations to the next generation.  I've got obligations to the future.  That's worth fighting for.  (Applause.)  That's worth fighting for.  (Applause.)

And nowhere do we see it more than in our men and women in uniform.  Now, I talked today about one more initiative that I'm trying to push Congress to create a Veterans Jobs Corp, so that all these young men and women, now that we've ended the war in Iraq and are starting to wind down the war in Afghanistan, that anybody who fought for this country doesn't have to fight for a job when they come home or fight for a roof over their heads when they come home.  (Applause.)

But in our troops, we see that spirit, that sense of common purpose and that sense of mission and that sense of sacrifice.  And everybody feels that to some degree.  We just have to tap into it.  We know that is right, not just right for the country, but right for ourselves.  Because I don't want to live in a country where all we're doing is thinking about ourselves, where we're not thinking about future generations.

Now, when you make this argument, by the way, to the other side, what they'll say is:  We're thinking about the future --that's why we have to do something about these deficits -- that's what they call it -- out of control government spending.  And I smile, and I say, you are absolutely right.  We've got to get government spending and our deficits and our debt under control, which is why I signed a trillion dollars -- $2 trillion worth of tax cuts in this last plan.  It’s the reason why government spending has gone up at a slower rate under my administration than any administration since Dwight Eisenhower.  (Applause.) 

But I say, you know what, if you’re really serious about deficit reduction, then why don’t we get together?  We’ll build on the cuts we’ve already made.  We’ll work with you to see if there are some additional waste, and streamlining and government organization we can do.  We’ll look at health care costs in Medicare and Medicaid, which are the main drivers of the deficit.  And as long as we’re not voucherizing that program like you guys have proposed, and as long as we’re keeping that basic commitment we make to folks in their golden years, as long we’re keeping that intact, I’m happy to work with you. 

But here’s just one thing.  I think somebody like myself, I should pay a little bit more in taxes, because I don’t want us to be cutting student loans to young people or Medicaid for a disabled child or shortchanging our veterans for the care they need when they come home.  (Applause.)  I don’t want that, because I don’t need that tax cut big enough.  I don’t need it bad enough.  And you know what, it turns out most millionaires and billionaires don’t need it either.  They’re doing just fine.  Their tax rates are lower than they’ve been in 50 years. 

And what we’ve proposed is simply, well, let’s go back to the rates under the last Democratic administration when we created 22 million jobs.  It didn’t seem to be a problem for job creators then.  Why is it a problem for job creators now?  (Applause.)  What happened?  What happened?  (Applause.) 

So we put forward plans.  Here’s $4 trillion that we can reduce our deficit in a balanced way that protects the investments we need for growth and helps our middle class.  I haven’t gotten any takers so far on that side.  (Laughter.)  Actually, there are a number of Republicans who think it’s a good idea to have a balanced approach like this, but they’re out of office now.  (Laughter.) 

So don’t tell me that you’re interested in the future but you’re not willing to make just an iota of sacrifice, a little bit of modification of your ideology in order to secure that future.  And if you look at Mr. Romney's plan, he has got $5 trillion worth of additional tax cuts on top of the Bush tax cuts, and he hasn't identified how they'd be paid for.  He says, well, we'll close some loopholes.  Well, which loopholes?  I don't know.  (Laughter.) 

I mean, we put forward a detailed budget.  Here, here's how we can do it.  I haven't gotten any takers so far.  So don't buy that song and dance about, yes, we're concerned about future generations, but you don't think Warren Buffett can pay a dime more in taxes in order to support that future?  So that's the debate we're going to be having over the next several months.  It's a critical debate about the economy. 

There are a lot of other issues out there.  I believe that we've got to have comprehensive immigration reform.  We're a nation of laws and a nation of immigrants.  (Applause.)  My opponent has a different view.  I believe we did the right thing in repealing "don't ask, don't tell" and that we have to fight for a future of fairness and equality in this country under the law.  (Applause.)  My opponent has a different view.  I think I did the right thing in ending the war in Iraq and in setting a timeline for getting out of Afghanistan.  (Applause.)  My opponent has a different view. 

So there are going to be a whole bunch of issues to fuss about.  But the central one, about how we build an economy that works for everybody, that's the one I want everybody to pay attention to.  But this is going to be a close race.  And the reason it's going to be a close race is we've gone through a tough four years on top of a tough decade for a lot of families before that, and folks feel worn out. 

And if you don't have a job, you don't care that there have been 4 million jobs created.  You're still waiting for yours.  Your house is $100,000 underwater, the fact that the housing market is beginning to stabilize isn't satisfactory.  You're still trying to figure out how you dig yourself out of a hole. 

And that's going to make it tough.  And, frankly, it makes it easier for the other guys, because the other side, all they’ve got to do is just say, you know what, you're frustrated things aren't where they need to be and it's Obama's fault.  And if they can spend hundreds of millions of dollars promoting that argument, then they don't have to come up with answers.  They don't have to come up with a credible plan.  They figure they can surf folks' frustrations all the way to the White House.

We've seen this game before, we've just never seen this much money behind the game.  So the question, then, for us, is going to end up being, well, how badly do we believe in what we say we believe in?  How hard are we willing to fight for the future that we say we want for our kids and our grandkids? 

The one thing I learned in 2008 -- traveling all across the country, starting in Iowa -- was for all the cynicism and negativity and phony issues, and sometimes outright lies that passed for political campaigns, when a group of ordinary citizens say, we want to bring change to our country, we want to make this work for everybody -- when voters start talking to each other and making commitments to each other, not just to a candidate but to an idea, change happens.  That's what you showed me last time.

And so, this time we're going to have to be more determined and we're going to have to make those same commitments.  I told people back in 2008, I said, I'm not a perfect man and I won't be a perfect President.  But I promise you this, I will always tell you what I think and I'll always tell you where I stand.  And I'll wake up every single day just working as hard as I can to make your lives a little better.  (Applause.)  And you know what, I've kept that promise.  (Applause.)  I've kept that promise.  (Applause.)

I still believe in you.  I still believe in the American people.  I still believe in the American idea.  And if you still believe in me -- and if you are willing to knock on some doors and make some phone calls -- and get out there and get working, and fight to finish what we started in 2008, we will not just win an election, we will continue down a path of glory for this country and remind the entire world just why it is that America is the greatest nation on earth.

Thank you, everybody, God bless you.  God bless the United States of America.  (Applause.)

END
6:58 P.M. CDT

Presidential Proclamation: Lesbian, Gay, Bisexual, and Transgender Pride Month, 2012

Lesbian, Gay, Bisexual, and Transgender Pride Month, 2012

 By The President Of The United States Of America

 A Proclamation

From generation to generation, ordinary Americans have led a proud and inexorable march toward freedom, fairness, and full equality under the law ‑‑ not just for some, but for all. Ours is a heritage forged by those who organized, agitated, and advocated for change; who wielded love stronger than hate and hope more powerful than insult or injury; who fought to build for themselves and their families a Nation where no one is a second-class citizen, no one is denied basic rights, and all of us are free to live and love as we see fit.

The lesbian, gay, bisexual, and transgender (LGBT) community has written a proud chapter in this fundamentally American story. From brave men and women who came out and spoke out, to union and faith leaders who rallied for equality, to activists and advocates who challenged unjust laws and marched on Washington, LGBT Americans and allies have achieved what once seemed inconceivable. This month, we reflect on their enduring legacy, celebrate the movement that has made progress possible, and recommit to securing the fullest blessings of freedom for all Americans.

Since I took office, my Administration has worked to broaden opportunity, advance equality, and level the playing field for LGBT people and communities. We have fought to secure justice for all under the Matthew Shepard and James Byrd, Jr., Hate Crimes Prevention Act, and we have taken action to end housing discrimination based on sexual orientation and gender identity. We expanded hospital visitation rights for LGBT patients and their loved ones, and under the Affordable Care Act, we ensured that insurance companies will no longer be able to deny coverage to someone just because they are lesbian, gay, bisexual, or transgender. Because we understand that LGBT rights are human rights, we continue to engage with the international community in promoting and protecting the rights of LGBT persons around the world. Because we repealed "Don't Ask, Don't Tell," gay, lesbian, and bisexual Americans can serve their country openly, honestly, and without fear of losing their jobs because of whom they love. And because we must treat others the way we want to be treated, I personally believe in marriage equality for same-sex couples.

More remains to be done to ensure every single American is treated equally, regardless of sexual orientation or gender identity. Moving forward, my Administration will continue its work to advance the rights of LGBT Americans. This month, as we reflect on how far we have come and how far we have yet to go, let us recall that the progress we have made is built on the words and deeds of ordinary Americans. Let us pay tribute to those who came before us, and those who continue their work today; and let us rededicate ourselves to a task that is unending ‑‑ the pursuit of a Nation where all are equal, and all have the full and unfettered opportunity to pursue happiness and live openly and freely.

NOW, THEREFORE, I, BARACK OBAMA, President of the United States of America, by virtue of the authority vested in me by the Constitution and the laws of the United States, do hereby proclaim June 2012 as Lesbian, Gay, Bisexual, and Transgender Pride Month. I call upon the people of the United States to eliminate prejudice everywhere it exists, and to celebrate the great diversity of the American people.

IN WITNESS WHEREOF, I have hereunto set my hand this first day of June, in the year of our Lord two thousand twelve, and of the Independence of the United States of America the two hundred and thirty-sixth. 

                                                                                                                   BARACK OBAMA

Remarks by the President at a Campaign Event -- Bachelor Farmer Restaurant, Minneapolis, MN

Bachelor Farmer Restaurant
Minneapolis, Minnesota

1:37 P.M. CDT

THE PRESIDENT:  Thank you.  (Applause.)  Well, it is good to be back in Minnesota.  I want to, first of all, say thank you to your outstanding Governor, Mark Dayton.  We are proud of him.  (Applause.)  I had the extraordinary honor of serving with Mark when I first arrived in the Senate -- and I know he's really sorry not to still be in the Senate.  (Laughter.)  But he did a great job then and he's doing a great job now, because he's passionate about people and wanting to make sure that they have opportunity.  And so we're really grateful to him.  And I know you guys are very pleased that the Vikings are staying here in Minnesota.  (Laughter.)  That is a priority.

I don't know -- is R.T. still here?  The Mayor was here a while -- he was.  I love him, too, so just -- (laughter) -- you let him know that.  R.T. is one of my dearest friends.  He was actually part of the "draft Obama" movement, a very early supporter.  Even before I was a supporter, or Michelle was a supporter, R.T. was a supporter.  (Laughter.)  So I love him.

It is wonderful to be back here and to see the great work that Mark is doing and R.T. and your senators and your congressional delegation. 

As Mark mentioned, we've gone through, these past three and a half, four years, as tough a period in our country's history as anything in our lifetime, certainly anything since the 1930s.  And we're not out of the woods yet.  We've still got work to do. There's still far too many people than we want who are out there looking for work, too many people whose homes are still underwater.  But as Mark indicated, what we have tried to do for the last three and a half, four years is just to make dogged progress, to just be persistent, to just stay at it. 

And because of that, we were able to ensure that we didn’t plunge into a full-blown depression when we first came into office.  We were able to make sure that the financial system stabilized.  People forget the month that I took office we had lost 800,000 jobs in that month alone (baby cries) -- yes, it was terrible!  (Laughter.)  And we had lost 3 million jobs even before I was inaugurated.  And so, slowly, by making sure that the Recovery Act allowed teachers and firefighters to stay on the job, by making sure the projects all across the country got started to rebuild our roads and our bridges and projects that needed to get done, by making sure that everybody had a little more money in their pockets with tax cuts for the middle class -- 98 percent of workers -- because of all those steps, the economy started to stabilize.

Then it started to move forward and businesses started to invest again.  And we made a commitment to double our exports.  And so suddenly people were thinking about not just how much we consume, but what do we produce, what do we make -- which is at the heart of who we are as Americans.  How can we continue to innovate?  How can we continue to adapt to this rapidly changing global economy?

So we're not there yet, but the good news is we've made enormous strides over these last three and a half years.  But the reason that some of you worked so hard back in 2008, the reason I decided to run for office wasn’t just to deal with the immediate crisis.  It was also to address problems that had been lingering for decades that we hadn’t taken care of.  For decades we had had a health care system that was broken and getting more and more expensive, providing less and less quality care to everybody, and was becoming increasingly unaffordable -- not just for individual families but also for businesses and for our government.

For decades we hadn’t had an energy policy.  So not only were we polluting the planet, but we were also finding ourselves sending billions of dollars to other countries because of our dependence on foreign oil. 

For decades we had seen manufacturing leave our shores, and losing the competition when it came to trade around the world.  For decades our education system was working really well for a few, but for a lot of our young people, they weren’t being equipped with the skills that they needed to compete.

And so what we've been fighting for is not just to right the ship short term; it's also to make sure that over the long term we're building and economy that can last, an economy with a firm foundation. 

That's why we tackled health care, so that we can make sure that 30 million people are able to get access to insurance but also so that we can start bending the cost curve because that's the primary contributor to our deficit.

That's why we took on education, and said we're going to give more money in exchange for more reform, making schools accountable but also making sure we're not just teaching to the test, making sure that we're unleashing the creativity and all the possibilities of good teachers working with inspired students.

That's why we made sure that college was more affordable, and we took tens of billions of dollars that were previously going to banks and made sure that that money was going directly to our students to help them pay for college education.

That's why we invested in clean energy so that we've actually doubled clean energy production in this country.  And while oil and gas production are up higher than they've been in eight years, our dependence on foreign oil is actually down as low as we've seen in almost a decade -- under 50 percent -- and we were able to get a doubling of fuel-efficiency standards on cars, which means that sometime halfway in the next decade we’re going to have cars that get 55 miles to a gallon, and everybody’s car will get 55 miles to a gallon.  And that’s going to save consumers thousands of dollars, but it’s also going to make sure that we’re taking a whole bunch of carbon out of the atmosphere.

So on each of these fronts, what we’ve tried to do is deal with the immediate challenges in front of us, but also think long term. 

Now, throughout this process, the other side has had a different vision.  My hope, when I came into office, was that we would have Republicans and Democrats coming together because the nation was facing extraordinary challenges.  It turns out that wasn’t their approach -- to put it mildly.  (Laughter.)  Their approach, in part, was that if we can beat Obama then that should be our primary focus.  But there is also a philosophical difference, because their vision is one in which if a few are doing very well at the top, then that’s somehow good for everybody.  And what I tried to point out to them was that throughout our history, when we’ve done well, the reason we became an economic superpower was because we created a platform where everybody can succeed, where everybody is getting a fair shot, and everybody is doing their fair share, and everybody is playing by the same rules.

And so a lot of the tussles that we’ve had over the last three and a half years have had to do with this difference in vision, and it will be coming to a head in this election.  We’re going to have as stark a contrast as we’ve seen in a very long time between the candidates.  I mean, 2008 was a significant election, obviously.  But John McCain believed in climate change. (Laughter.)  John believed in campaign finance reform.  He believed in immigration reform.  I mean, there were some areas where you saw some overlap.

In this election, the Republican Party has moved in a fundamentally different direction.  The center of gravity for their party has shifted.  And so things that we used to be able to take for granted, that’s been more difficult to take for granted over the last three and a half years.

And let’s just take one example:  deficit reduction.  We have a significant long-term debt that has to be dealt with.  Now, our top priority should be putting people to work right now, because if our economy is growing faster, that actually will help reduce the deficit.  But there’s no doubt that it’s unsustainable for us to keep on having health care costs in Medicare and Medicaid go up 6, 8, 10 percent, when the overall inflation rate and growth rate are coming in lower.  That’s a recipe for long-term disaster.

So what we’ve said is, look, let’s cut out waste; let’s streamline programs; let’s reorganize government where we can.  Let’s end the war in Iraq; let’s wind down the war in Afghanistan.  Let’s use some of those savings for deficit reduction.  Let’s tackle Medicare and Medicaid in an intelligent way that preserves this critical social safety net but also achieves significant savings.  And let’s ask those of us who've been most fortunate just to pay a little bit more.  And if we put that package together we can achieve $4 trillion of savings and we can pay right now to rebuild our roads and our bridges, and rehire some teachers, and grow the economy right now.  We can package that together to make progress.

And we couldn’t get them to take yes for an answer -- because, ideologically, the notion of billionaires and millionaires paying a little bit more in taxes didn’t adhere to the philosophy that they’ve been fighting for over the last several years.

Now, I believe that if we’re successful in this election -- when we’re successful in this election -- that the fever may break, because there's a tradition in the Republican Party of more common sense than that.  My hope and my expectation is that after the election, now that it turns out the goal of beating Obama doesn’t make much sense because I’m not running again -- (laughter) -- that we can start getting some cooperation again, and we’re not going to have people raising their hands and saying -- or refusing to accept a deal where there’s $10 of cuts for every dollar of tax increases, but that people will accept a balanced plan for deficit reduction. 

My expectation is, is that we can get a highway transportation bill done that puts people back to work right now and rebuilds our infrastructure to succeed over the long term.

My hope and expectation is, is that they’ll recognize we need immigration reform because we’re a nation of laws and a nation of immigrants.  And it actually is better for our economy, and, by the way, it saves us money if all those folks who are working underground are aboveground and paying taxes.  It’s actually good for our economy.

My expectation is, is that if we can break this fever that we can invest in clean energy and energy efficiency -- because that’s not a partisan issue, that’s a sensible approach to making sure that our economy is going forward and we have control over it over the long term. 

So, so much is at stake in this election.  And Minnesota is going to be important, and all of you are going to be critically important to that process.  This is going to be a very close race.  It’s not a close race, actually, because the other side has a whole bunch of great ideas -- they don’t.  (Laughter.)  They are just churning out the same ideas that we saw in the decade before I took office -- the same ideas, the same "you’re on your own" philosophy, the same tax cuts and deregulation agenda that helped get us into this mess in the first place.  But it’s going to be close because there are a lot of folks out there who are still having a tough time and the economy is still fragile. 

And right now, our biggest challenge is the situation not here in the United States but coming overseas.  Europe is having a significant crisis, in part because they haven’t taken as many of the decisive steps as were needed to deal with the challenge. And that’s weakening Asia, and that means it’s harder for our exporters.  All this stuff makes a difference in a global economy. 

  So it's going to be close.  And that means that we're going to have to be working just as hard and we have to be just as passionate, we have to be just as committed, just as excited as we were the last time.

Now, admittedly, I'm grayer now.  (Laughter.)  And I've been President for a while, so you're never as cool as you were that first time.  (Laughter.)  But I tell you, I'm still -- I am still so absolutely convinced in America's future.  I travel a lot around the world, and when you ask folks where they look to for leadership, it is still the United States of America. 

When they think about what country embodies universal aspirations, they still talk about the United States of America. And there is not a country on Earth that wouldn't trade places with us, because we still have the best workers in the world.  We still have the best universities in the world.  We still have the best scientists and the best innovation in the world.  We've got the best free market and the most dynamic entrepreneurs in the world.

Ironically, some of the very things that the Republicans don't like are part of what makes our free market so strong, because the rules we put in place for transparency and accountability and consumer protection means our products are better and our investments are safer.  And that's the reason why money rushes here when we've got problems all around the world is precisely because there are rules in place that everybody is supposed to abide by.

And so we've got all the tools to make the 21st century an American century just like the 20th century was.  And the question is, are we going to seize it?  And that's where all of you come in.  This little guy who has been eating his feet the whole time I've been talking -- (laughter) -- when I think about why I ran for office, I think about Malia and Sasha -- 

AUDIENCE MEMBER:  Henry.

THE PRESIDENT:  -- and Henry -- (laughter).  And what's your name?

CHILD:  Dmitry. 

THE PRESIDENT:  Dmitry.  I think about them and what kind of country are we leaving for them.

The truth is, probably our kids in this restaurant are going to be okay.  We've been incredibly blessed, most of us.  We've been incredibly lucky.  But the quality of their lives will also depend on whether every other child in America has got a shot, whether they're doing well, whether they feel invested in the American Dream.

Now, it doesn't do us any good if our kids are succeeding but the environment is ruined.  They can't protect themselves from that.  It's not going to do much good if they're doing very well but they're having to drive on dilapidated roads and bridges, and their airports don't work, and broadband lines are better someplace else, and innovation has taken place somewhere else.  I don't want them ever to think about moving to someplace else to have more opportunity.  That's what we fight for. 

I used to say, back in 2008 -- I'm not a perfect man and I won't be a perfect President.  But I promised I would always tell people what I thought, I'd always tell people where I stood, and I would fight as hard as I could to make sure that Henry and Malia and Sasha and Dmitri and our kids have a better future.  And I've kept that promise.  (Applause.)

And the reason I've been able to keep that promise is because I get a chance in this job to meet Americans from every walk of life, and I've traveled all across the country.  And what I said in that first speech I made on the national stage I still believe, which is, black, white, Asian, Hispanic, Native American, gay, straight, disabled or not -- we're one people.  And the decency and strength and resilience of the American people, it comes shining through every place I go -- in VFW halls, in a small business, in teachers who I meet and firefighters and our incredible men and women in uniform.

This is a country full of good people who want to do the right thing, and they deserve a government who reflects that decency.  That's what we've tried to give them and that's what we're going to keep on giving them for the next five years. 

So thank you very much, everybody.  (Applause.)  Thank you.
   
END 
1:57 P.M. CDT