We know what happens when Europeans start dividing themselves up and emphasizing their differences and seeing a competition between various countries in a zero sum way.

As tough as things have been, I am convinced you are tougher. I've seen your passion and I've seen your service. I've seen you engage and I've seen you turn out in record numbers. I've heard your voices amplified by creativity and a digital fluency that those of us in older generations can barely comprehend. I've seen a generation eager, impatient even, to step into the rushing waters of history and change its course.

I think that America has to stand with democracy.

The spirit's there and that's not just my imagination. I think if you look at surveys and attitudes among young people, you see it.

The fear among economists across the political spectrum that was - was that we were rapidly plummeting towards a second Great Depression. So, in the weeks and months that followed, we undertook a series of difficult steps to prevent that outcome. And we were forced to take those steps largely without the help of an opposition party, which, unfortunately, after having presided over the decision-making that had led to the crisis, decided to hand it over to others to solve.

There are very few moments in our lives where we have the privilege to witness history taking place. This is one of those moments. This is one of those times.

I am willing to work with anybody who wants to have a serious conversation about our fiscal future. We're not going to do this under the threat of blowing up the entire economy. I will not negotiate over Congress' responsibility to pay the bills that have already been racked up. I don't know how I can be more clear about this.