The path of America's development is never a straight line. Sometimes we move in ways that are forwards; sometime that seem back.

Medicare in particular, will run out of money, and we will not be able to sustain that program.

I know my country has not perfected itself. At times, we've struggled to keep the promise of liberty and equality for all of our people. We've made our share of mistakes, and there are times when our actions around the world have not lived up to our best intentions.

As opposed to getting into arguments about, well, these folks have been treated fairly so now we're going to be doing things that, very easily in the minds of a lot Americans feel like, "Now I'm being treated unfairly."

It continues to be my strong belief that the way we are going to make sure that everybody feels a part of this global economy is not by shutting ourselves off from each other, even if we could, but rather by working together more effectively than we have in the past.

We think of faith as a source of comfort and understanding but find our expressions of faith sowing division; we believe ourselves to be a tolerant people even as racial, religious, and cultural tensions roil the landscape. And instead of resolving these tensions or mediating these conflicts, our politics fans them, exploits them,and drives us further apart.

I don't think that hedge funds are bad per se. I think they're just one more financial tool. And in that sense, they're useful.