When our sailors in the Persian Gulf accidentally strayed into Iranian waters, that could have sparked a major international incident. Some folks here in Washington rushed to declare that it was the start of another hostage crisis. Instead, we worked directly with the Iranian government and secured the release of our sailors in less than 24 hours.

I was always amused that people were either skeptical or surprised that I would choose a Hillary Clinton as a secretary of state. To my mind, having somebody smart, tough, capable with her own stature, who could travel around the world and command the stage, was a huge asset.

We rise and fall as one people, one nation.

The reason I take pride for that is one of the things you worry about when you're in the bubble, and there's all this pomp and circumstance and hail to the chief is, do you lose touch with what you thought was important and what brought you here? And I'm proud that I don't think I have lost touch.

What makes us exceptional - what makes us American - is our allegiance to an idea articulated in a declaration made more than two centuries ago: “We hold these truths to be self-evident, that all men are created equal; that they are endowed by their Creator with certain unalienable rights; that among these are life, liberty, and the pursuit of happiness.”

First and foremost, it's important to remember that, from my perspective at least, my most important legacy was making sure that the world didn't go into a Great Depression.

Of course, there's been a real debate about where to invest and where to cut, and I'm committed to working with members of both parties to cut our deficits and debt. But we can't simply cut our way to prosperity.