I'm a strong believer that you have to have an equal opportunity to fail and to try things that are hard. I always tell my students, "Don't just take things that are easy for you. If you're really good at math, don't take just math. Take classes that make you write. If you're a really great writer, but bad at math, take math and make yourself work your way through it."

Success is not assured, but America is resolute: this is the best chance for peace we are likely to see for some years to come - and we are acting to help Israelis and Palestinians seize this chance.

America cannot do most of what needs to be done alone. You need friends. And we have good friends around the world. We have friends with whom we share values in Europe and Asia - thanks to the forward march of democracy - in Latin America, in Africa, and increasingly in the Middle East.

We have had some bad incidents and there continue to be allegations of others which will be investigated; but overwhelmingly American forces there, putting their lives on the line every day, protecting Iraqis, helping to liberate them, that is appreciated by the Iraqi people and by the Prime Minister.

My parents elected me president of the family when I was 4. We actually had an election every year and I always won. I'm an only child, and I could count on my mother's vote.

No American president can support an Egypt that calls into question the historic treaty between Israel and Egypt. And no American president can support an Egypt that doesn't fully recognize women's rights or the rights of religious minorities.

Our work has only begun. In our time we have an historic opportunity to shape a global balance of power that favors freedom and that will therefore deepen and extend the peace. And I use the word power broadly, because even more important than military and indeed economic power is the power of ideas, the power of compassion, and the power of hope.