One of the great qualities of Chancellor Merkel is that she is steady. She analyzes a situation. She's honest. Sometimes we've had disagreements, but when we do, it's very constructive. And we are consistently open with each other about how we should approach these issues.

Families across America are feeling the pinch as they watch debts mount, bills pile up and savings disappear.

Anybody who gets into bed and turns out the lights the first night in the White House probably feels a little bit of a start, where you say, "Goodness ... "

In order for us to compete with China, we've also got to make sure, though, that we're taking - taking care of business here at home. If we don't have the best education system in the world, if we don't continue to put money into research and technology that will allow us to create great businesses here in the United States, that's how we lose the competition.

I know many of you are hurting and angry about the economy, and I don't blame you. It's the worst economy since the Great Depression. When consumers can't buy and businesses won't expand for lack of customers, the government has to be the purchaser and employer of last resort. We learned that in the Great Depression, but Republicans obviously didn't - and they've blocked every jobs program I've offered.

All this marked them as vaguely liberal, although their ideas would never congeal into anything like a firm ideology; in this, too, they were American.

The time to fix our broken immigration system is now... We need stronger enforcement on the border and at the workplace... But for reform to work, we also must respond to what pulls people to America... Where we can reunite families, we should. Where we can bring in more foreign-born workers with the skills our economy needs, we should.