The second thing we did was said, OK, we've now identified the risk, but what do you want to do with the money? Because it's not enough to have risk; you've got to have a meaningful use for the money we give you.

The larger point is this: We've invested over half a billion dollars in New York since this department was stood up. We've given New York more money, by more than double, than any other city in the country.

The Department of Defense took 40 years to get where it got.

I have not heard a report of thousands of people in the convention center who don't have food and water.

The fact that we have not had a terrorist attack in this country in the last six years is not a cause for complacency or a time to celebrate the end of the struggle. The threat is not going away. The enemy has not lost interest. ...Fundamentally, we're in a struggle about ideology. Terrorists want to remake the world in their own image and it is the image that is intolerant of the kinds of institutions that we cherish.

We always monitor the flow of information, intelligence, threat streams to see whether we have any indication there's some imminent. We work hard to identify potential cells and disrupt them. This is one of the reasons we put so much emphasis on intelligence gathering.

But one thing that we have done in the last four years is we have really put pressure on the leadership of this organization [Al Qaeda]. We have killed a significant number of leaders. We've captured others. Those that remain have to look over their shoulders, they have to be on the run. So that even if we don't manage to kill or capture them all within four years, what we do do is put the kind of pressure on them that makes them focus on their own skins, as opposed to carrying out attacks.