We are still the America that does the hard things, that does the great things. We're the nation that always dared to dream. We're the nation that dared to take risks.

In sectors like energy, I haven't been arguing for more spending per se; I've been arguing that it doesn't make sense for us to spend $4 billion subsidizing an oil industry that's mature and very profitable. We should be using that money to finance clean energy of the future.

And we have done more in the two and a half years that I've been in here than the previous 43 Presidents to uphold that principle, whether it's ending 'don't ask, don't tell,' making sure that gay and lesbian partners can visit each other in hospitals, making sure that federal benefits can be provided to same-sex couples.

We are convinced, as some of you may be convinced, that changing the way we produce and use energy is essential to America's economic future, that it will create millions of new jobs, power new industries, keep us competitive, and spark new innovation.

It's up to [Angela Merkel] whether she wants to stand again and then ultimately, it'll be up to the German people to decide what the future holds. If I were here and I were German and I had a vote, I might support her.

If the people cannot trust their government to do the job for which it exists - to protect them and to promote their common welfare - all else is lost.

If people, whether they are conservative or liberal, left or right, are unwilling to compromise and engage in the democratic process, and are taking absolutist views, and demonizing opponents, then democracy will break down.