I am absolutely certain that generations from now, we will be able to look back and tell our children that this was the moment when we began to provide care for the sick and good jobs to the jobless; this was the moment when the rise of the oceans began to slow and our planet began to heal; this was the moment when we ended a war and secured our nation and restored our image as the last, best hope on earth. This was the moment - this was the time - when we came together to remake this great nation so that it may always reflect our very best selves and our highest ideals.

I know there are problems that I say to myself, If maybe I was a little more gifted I might have been able to solve. But that's not because I believe what I did was a mistake. It's that maybe it required the talents of a Lincoln.

The journey will be difficult. The road will be long. I face this challenge with profound humility, and knowledge of my own limitations. But I also face it with limitless faith in the capacity of the American people.

It's also wonderful to be back with my great friend and ally, Chancellor [Angela] Merkel. As I reflect back over the last eight years, I could not ask for a steadier or more reliable partner on the world stage, often through some very challenging times.

When it comes to telephone calls, nobody is listening to your telephone calls. That's not what this program is about. ... What the intelligence community is doing is looking at phone numbers, and durations of calls; they are not looking at people's names and they're not looking at content. ... If the intelligence committee actually wants to listen to a phone call they have to go back to a federal judge, just like they would in a criminal investigation.

In order to make the tough decisions we have to know what our values are and who we're fighting for and our priorities and if we are spending $300 billion on tax cuts for people who don't need them and weren't even asking for them, and we are leaving out health care which is crushing on people all across the country, then I think we have made a bad decision and I want to make sure we're not shortchanging our long term priorities.

America must always lead on the world stage.