But let me perfectly clear, because I know you'll hear the same old claims that rolling back these tax breaks means a massive tax increase on the American people: if your family earns less than $250,000 a year, you will not see your taxes increased a single dime. I repeat: not one single dime.

I think the American people recognize that the world has shrunk. That it's interconnected. That you're not going to put that genie back in the bottle.

Cuba is actually one where I am more optimistic because of the unique nature of Cuba - 90 miles off our shore with a massive ex-patriot population, now Cuban-American population that still have deep links to the island. There I am more confident that over time that the winds of commerce and telecommunication and travel start shifting the nature of that regime. But that's a small country which has almost a unique relationship to us.

I continue to believe when I said in Hanover, that the E.U. remains one of the world's great political and economic achievements, and that those achievements should not be taken for granted.

Jerusalem will remain the capital of Israel and it must remain undivided."Truth: Obama later said, "This was an example where we had some poor phrasing in the speech and we immediately tried to correct the interpretation that was given. The point we were simply making was, is that we don't want barbed wire running through Jerusalem.

The real problem, if you look at how, for example, Hezbollah got a lot of missiles that are a grave threat to Israel, it's not because they were legal, it's not because somehow that was authorized under international law; it was because there was insufficient intelligence or capacity to stop those shipments.

You know, it's fashionable right now for people to be cynical. We go in cycles like this and right now a lot of people are saying, 'Oh, America is doing terribly' and 'What are we going to do?'