My greatest hope is to be able to pass the same dreams and hopes and vision that I've been able to enjoy in my life, on to the next generation. Not just for my children - because with a mother like Michelle, my kids are going to be great - but for all children. There are too many children in this country for whom the American dream is so distant and the odds against them are so daunting.

The United States has to go through structural reforms in terms of improving our education system or revamping our infrastructure or, you know, looking at some regulations that weren't properly controlling excesses on Wall Street.

If we can make sure that that young boys starting at the age of three or four already knows their colors and their letters and are getting good preschool, and by the time they get into school they've got a good teacher and are getting the support that they need and are able to keep up with their classwork, that is going to do more to reduce the incarceration rate at the same time, obviously, as it increases the college enrollment rate.

I actually believe that some residue of discrimination would lessen, because it's my view that there is a certain percentage of the white population that stereotypes and makes assumptions about African Americans because they don't inject the history of slavery and Jim Crow into current incarceration rates, or crime rates, or poverty rates, or what have you.

Sometimes I wonder how much of these debates have to do with the desire, the legitimate desire, for that history to be recognized. Because there is a psychic power to the recognition that is not satisfied with a universal program, it's not satisfied by the Affordable Care Act, or an expansion of Pell grants, or an expansion of the earned-income tax credit.

America at its best is inclusive and not exclusive.

I do believe that Chancellor Merkel and Germany are a lynchpin in protecting the basic tenets of a liberal, market-based democratic order that has created unprecedented prosperity and security for Europe, but also for the world.