You always hear about waste and abuse in Washington. And usually it doesn't mean much, because nobody ever finds where that waste and abuse is.

It's one of the biggest benefits of being president that you really don't think about until you get here.

We remain a young nation, but in the words of Scripture, the time has come to set aside childish things. The time has come to reaffirm our enduring spirit; to choose our better history; to carry forward that precious gift, that noble idea, passed on from generation to generation: the God-given promise that all are equal, all are free, and all deserve a chance to pursue their full measure of happiness.

We continue to urge China and other claimants to work constructively to resolve these disagreements, so that the South China Sea - which is so vital to the global economy - can be defined by commerce and cooperation.

I'm determined to disagree with people without being disagreeable. That's part of the empathy. Empathy doesn't just extend to cute little kids. You have to have empathy when you're talking to some guy who doesn't like black people.

My hope is that the president-elect [Donald Trump] coming in takes a similarly constructive approach, finding areas where we can cooperate with Russia, where our values and interests align. But that the president-elect also is willing to stand up to Russia where they are deviating from our values and international norms.

We may have different backgrounds, but we believe in the same dream that says this is a country where anything's possible. No matter who you are. No matter where you come from.