I look forward to hosting Prime Minister Lee [Hsien Loong], whose friendship and partnership I appreciate very much and with whom I've worked throughout my administration. This will also be an opportunity for me to reciprocate the hospitality that the Prime Minister and the people of Singapore showed to me during my visit to Singapore for the APEC summit in 2009.

We need to spend a trillion dollars rebuilding our schools, our roads, our basic science and research here in the United States.

There are some who question the scale of our ambitions, who suggest that our system cannot tolerate too many big plans. Their memories are short, for they have forgotten what this country has already done, what free men and women can achieve when imagination is joined to common purpose, and necessity to courage.

I think that when it comes to Social Security, all of us want to make sure that our senior citizens can retire with dignity and respect. And everybody has to be open-minded in thinking how do we firm up a system that, in fact, is going to be in difficulty in the coming years.

When I came into office, the world was divided. Iran was resurgent. Iran is at its weakest point, economically, strategically, militarily, then since - then in many years. And we are going to continue to keep the pressure on to make sure that they do not get a nuclear weapon. That's in America's national interest and that will be the case so long as I'm president.

Part of what we have to do a better job of, if our democracy is to function in a complicated diverse society like this, is to teach our kids enough critical thinking to be able to sort out what is true and what is false, what is contestable and what is incontestable. And we seem to have trouble with that. And our political system doesn't help.

After a breakthrough year for America, our economy is growing and creating jobs at the fastest pace since 1999.