American leadership is not simply a matter of going it alone and bearing all of the burden ourselves.

If I'm president, some day, young kids will look at the world differently. They will say, I could be president some day. They couldn't have said that before I came along. The world will see the United States in a different context, as a country of true opportunity for all.

If you're an American and you are, you know, subscribing to the ideals and the creed and the values that we believe in as a country, you know, then we don't have a religious test in this country.

Where the stakes are the highest, in the war on terror, we cannot possibly succeed without extraordinary international cooperation. Effective international police actions require the highest degree of intelligence sharing, planning and collaborative enforcement.

And we remember the end of our combat mission and the emergence of a new dawn - the precision of our efforts against al Qaeda in Iraq, the professionalism of the training of Iraqi security forces, and the steady drawdown of our forces. In handing over responsibility to the Iraqis, you preserved the gains of the last four years and made this day possible.

You know, I think that we are going to be OK. Look, Malia is 10, so three years from now she is 13. Who knows what happens to teenagers?

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.