I believe in term limits for presidents because I think that there is no doubt I'm a better president now than I was when I start. I would argue that I am the best president I've ever been over the last year or two. My team is more effective than it's ever been.But what is also true is that number one, this is grueling.

I think there are a lot of people who are involved in the Tea Party who have very real and sincere concerns about spending that's out of control or generally philosophically believe that the government should be less involved in certain aspects of American life rather than more involved. And they have every right and obligation as citizens to be involved and engaged in this process.

As soon as the recovery is well under way, we need to set up a long-term plan to reduce the structural deficit and make sure we are not leaving a mountain of debt for the next generation.

I'm going to insist on making sure that we've got decent funding, that we've got enough teachers, that we've got computers in the classroom, but unless you turn off the television set and get over a certain anti-intellectualism that I think pervades some low-income communities, our children are not going to achieve.

This is where I think policies do need to be somewhat race-specific, is making sure that institutions are not discriminatory. So you've got something like the FHA [Federal Housing Administration], which was on its face a universal program that involved a huge mechanism for wealth accumulation and people entering into the middle class.

Ask Osama bin Laden and the 22-out-of-30 top al-Qaida leaders who've been taken off the field whether I engage in appeasement. Or whoever is left out there, ask them about that.

What you have is Mitt Romney running around the country saying 'Well, you know, my wife tells me that what women really care about are economic issues, and when I listen to my wife, that's what I'm hearing.' Guess what? His wife has actually never worked a day in her life.