There's no question that a lot of Americans on both the right and the left are expressing some fears and frustrations about the dislocations brought on by globalisation. Many of those frustrations are legitimate and they need to be addressed.

We're up against the conventional thinking that says your ability to lead as president comes from longevity in Washington or proximity to the White House. But we know that real leadership is about candor and judgment and the ability to rally Americans from all walks of life around a common purpose, a higher purpose.

Hunger, disease and poverty can lead to global instability and leave a vacuum for extremism to fill. So instead of just managing poverty, we must offer nations and people a pathway out of poverty. And as president I've made development a pillar of our foreign policy, alongside diplomacy and defense.

Never read Who Moved My Cheese in the workplace when you can read The Joy of Not Working.

For everywhere we look, there is work to be done. The state of our economy calls for action: bold and swift. And we will act not only to create new jobs but to lay a new foundation for growth. We will build the roads and bridges, the electric grids and digital lines that feed our commerce and bind us together. We will restore science to its rightful place and wield technology's wonders to raise health care's quality and lower its costs.

The President does not have power under the Constitution to unilaterally authorize a military attack in a situation that does not involve stopping an actual or imminent threat to the nation.

Together we resolve that a great nation must care for the vulnerable and protect its people from life's worst hazards and misfortune.