Our democracy must be not only the envy of the world but the engine of our own renewal. There is nothing wrong with America that cannot be cured by what is right with America.

Everybody counts, everybody deserves a chance, everybody has a responsible role to play and we all do better when we work together.

At the same time, old confrontations have taken on frightening urgency, especially the India-Pakistan conflict over Kashmir and the violent stalemate in the Middle East. Progress on these and other global challenges requires us to develop a larger strategy for American foreign policy, rooted in a fundamental commitment to move the world from interdependence to an integrated global community committed to peace and prosperity, freedom and security.

We find as our interdependence increases that, on the whole, we do better when other people do better as well.

Let's adopt some short-term strategies to get growth going and then let's have a long-term debt reduction package. That's what I think we should do and I think it will work.

No generation has had the opportunity, as we now have, to build a global economy that leaves no-one behind. It is a wonderful opportunity, but also a profound responsibility.

When I think about the world I would like to leave to my daughter and the grandchildren I hope to have, it is a world that moves away from unequal, unstable, unsustainable interdependence to integrated communities - locally, nationally and globally - that share the characteristics of all successful communities.