But I also want to give them a pathway so that they can earn citizenship, earn a legal status, start learning English, pay a significant fine, go to the back of the line, but they can then stay here and they can have the ability to enforce a minimum wage that they're paid, make sure the worker safety laws are available, make sure that they can join a union.

We continue to urge China and other claimants to work constructively to resolve these disagreements, so that the South China Sea - which is so vital to the global economy - can be defined by commerce and cooperation.

Short term, the most important thing is to put people back to work ... If they're working, that means they're paying taxes, that means that they're buying goods and services - and the economy, instead of being on a downward spiral, starts back up on an upward spiral.

Going back to the discussion we were having about immigration reform, some of the most challenging discussions I've had are with activists who essentially would argue that any immigrant from Central America, let's say, who gets here to this country should be allowed to stay because their country is dangerous, their country is poor, and the opportunities for that mom and that kid are much greater here, and why would you send them back?

It is my firm belief that it will be in the interests of the United States, especially our economic interests, to pursue comprehensive immigration reform.

One thing I will not compromise over is whether or not Congress should pay the tab for a bill they've already racked up. If Congress refuses to give the United States the ability to pay its bills on time, the consequences for the entire global economy could be catastrophic.

But today, just a few years into the twenty-first century, we already find ourselves in a different and precarious position. As revolutions in communications and technology have broken down barriers across the world, it has given more power to both our competitors and our enemies.