In December, I agreed to extend the tax cuts for the wealthiest Americans because it was the only way I could prevent a tax hike on middle-class Americans. But we cannot afford $1 trillion worth of tax cuts for every millionaire and billionaire in our society. We can't afford it. And I refuse to renew them again.

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 lose ourselves when we compromise the very ideals that we fight to defend. And we honor those ideals by upholding them not when it's easy, but when it is hard.

We've got to change our regulatory system.

The UK is an extraordinary partner for America and a force for good in an unstable world. I hope it remains strong, robust and united.

Here's the truth: even if countries like the United States curb our emissions, if growing countries like India - with soaring energy needs - don't also embrace cleaner fuels, then we don't stand a chance against climate change.

More broadly, Prime Minister Lee [Hsien Loong] and I will work to advance the US-Singapore partnership across the board. We're committed to sustaining the dynamism of our economies with the Trans-Pacific Partnership - the highest-standard trade agreement ever - which will support trade and innovation in both our countries.