Ed.  President Obama launched his 2012 re-election campaign on April 4, 2011, but that was arms-length affair done by an e-mail and with a video in which he did not appear.  Three fundraisers in Chicago on the evening of April 14 marked a more direct entry into campaign mode.  Obama started out with two big donor events, the first with about 100 people at N9NE Restaurant where he spoke for 23 minutes and the second with about 50 people at MK Restaurant, where he spoke for 10 minutes and then took questions; to wrap up the evening he rallied at Navy Yard, speaking for 31 minutes to a crowd reported at about 2,300 people.  Together the events raised more than $2 million.

In the three speeches, Obama reflects on accomplishments of the last two and a half years, he sets the stage for the upcoming campaign ("And we’ve made extraordinary progress, but we still have so much work to do."), and he begins to lay out a choice (At the event at N9NE Restaurant he stated, "And you’ve got right now one side that I believe is entirely sincere that says we no longer can afford to do big things in this country.  We can't afford to be compassionate."  At MK Restaurant he said, "We can get our fiscal house in order, but we can do it in a way that is consistent with our values and who we are as a people.  Or we can decide to shrink our vision of what America is."  And at the Navy Yard, "We’ve got a big vision for America, of a compassionate America and a caring America and an ambitious America, not a small America.")  While Republicans have criticized Obama's major speech on fiscal responsibility yesterday as being too political—in effect a campaign speech—Obama defended the speech, stating, "It was an attempt to clarify the choice that we have as a country right now."  Obama had a line in each of the speeches about being older ("...your candidate is a little older and a lot grayer..." ...  "You know, your candidate is a little grayer now.  Some of the excitement of something entirely new is not going to be there, and I've got some dents and dings in the fender.  But that vision hasn’t changed." ...   "Let me tell you, I’m grayer and I’m a little dinged up.").

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WHITE HOUSE TRANSCRIPTS
President Barack Obama
DNC Event
N9NE Restaurant
Chicago, Illinois
 
6:12 P.M. CDT
 
 
     THE PRESIDENT:  Hey!  Hey!  Hello, hello, hello!  Hello!  Hello, Chicago!  (Applause.)  Thank you.  Thank you.  Thank you, everybody.  It’s good to be home.  (Applause.)  Thank you.  Thank you.  All right, everybody have a seat.  Everybody have a seat.  You’re making me blush.  (Laughter.) 
 
     We’ve got some very special guests here today.  First of all, my former seatmate in the Illinois state senate who is doing gangbuster work all over the state -- Attorney General Lisa Madigan is in the house.  Where is Lisa?  Where is she?  There she is.  (Applause.) 
 
     A guy who I basically follow around to see what he eats and drinks so I can look like him, somebody who never ages, always doing the right thing on behalf of communities all across the state, especially here in Chicago -- Secretary of State Jesse White is in the house.  (Applause.) 
 
     Our newly elected Cook County President, one of my earliest supporters, and also my former alderwoman -- so I hope that my garbage is still being picked up -- Toni Preckwinkle is in the house.  (Applause.)  She’s around here somewhere.
 
     And then I have to admit that I got a little confused.  (Laughter.)  I walk in and there are these two guys talking, both of them very animated, both of them a little intimidating, even though they’re not tall in statute.  (Laughter.)  I was trying to figure out who I should bow to first.  I decided to go with the current mayor -- (laughter and applause) -- somebody who has done more to make Chicago not just a great American city but a great world city, and his legacy is going to be deep and lasting, as deep and lasting as his father’s was.  We are grateful for his service -- the mayor of the city of Chicago, Richard Daley.  (Applause.) 
 
Bill is doing okay, Rich.  (Laughter.)  I mean, you know, there are times where he’s still kind of figuring out where everything is -- (laughter) -- but overall he’s making the grade. Of course, he had some big shoes to fill.  And I could not be prouder of the job this man did on behalf of America as my chief of staff. 
 
As Bill knows, there probably is not a harder job in government than being chief of staff.  You get all the blame and little of the credit, and the pressures are enormous and they are constant.  And I rely extraordinarily heavily, given everything that’s on our plate, on the person who essentially oversees the executive functions of the White House. 
 
And so I am blessed now to have a great chief of staff, but I also am so lucky to have had in some of the toughest times that we’ve seen since the Great Depression somebody who is not only a great manager, a great strategist, a great political thinker, but also my friend.  Yes, he is foul-mouthed.  (Laughter.)  Yes, that finger thing is a little creepy.  (Laughter.)  But I love him anyway, and, Chicago, you did the right thing by electing him the next mayor of the city of Chicago -- Rahm Emanuel.  (Applause.)
 
     Where did Rahm go?  He’s in the back somewhere.  He’s cutting a deal of some sort.  (Laughter.) 
 
     Look, I don't want to make a long speech, mainly just because even though I'm not supposed to do it, I just want to go around and say hello to everybody -- (applause) -- because as I look around the room, I've got as good a collection of friends from every stage of my life in this room as anybody could hope for. 
 
I've got people who helped me get started as a lawyer.  I've got folks who helped me get started in politics.  I've got folks who worked with me down in Springfield.  I've got people who were some of my earliest supporters in my congressional race -- (applause) -- and nursed me back to health after a beating.  (Laughter.)  I've got folks who believed that I might be a United States senator when nobody could pronounce my name, long before I made a speech in Boston.  And then I've got people that had the faith that I could perform the functions of the highest office in the land.  (Applause.) 
 
     I've got some folks who taught with me at the University of Chicago.  (Applause.)  I've got some Hyde-Parkers in the house.  (Applause.)  I've got some folks who were there the summer I met my wife and folks who were there when my children were born.  So as I look across the room it’s a record of my adult life and the people who helped me to become the man I am.
 
     The last two and a half years have obviously been extraordinary.  We understood when we put together our presidential campaign that the country was entering a crossroads, that we were going to have to make some fundamental decisions about who we were and who we are as a people.  And I got into this race for President because I believed that what makes us great is our incredible commitment to individual freedom and individual responsibility; the fact that with some pluck and some hard work and some good fortune, here in America anybody can make it, regardless of race or creed or station. 
 
     But what made us great is also the fact that this collection of people from all around the world are somehow able to come together and pledge allegiance not just to a flag but to a creed; that we’re able to join together in this common enterprise; that we’re able to look out for one another; that when we make it, we’re saying to ourselves, who else can we pull up the ladder; that there’s a sense of community that is not defined simply by ethnicity or where we go to church or mosque or synagogue or temple, but a commitment to each other that somehow is greater than the sum of its parts.
 
     That's why I decided to run for President.  That's why you supported me.  Those are the values that you helped teach me when I first came to Chicago so many years ago.  And those values have been put to the test over the last two and a half years, because Americans have gone through a tough time. 
 
I can’t describe night after night reading the letters that I get, the emails that I get, from people all across the country -- just heartbreaking stories:  Children talking about their parents losing their jobs or losing their homes and wondering if they're going to be okay; folks sending out job application after job application after job application and nothing coming back.; parents of young men and women who’ve been killed in action, trying to describe how proud they are of those kids even though their heart just aches, and asking to make sure that as the Commander-in-Chief that I am living up to that full measure of devotion that they displayed. 
 
     And so for the last two and a half years, what I’ve tried to do is to make sure that every day when I wake up, I remember why I ran and I remember why you supported me.  And whether it was passing a Recovery Act that would get the economy back on its feet and put people back to work; saving an auto industry that a lot of people had written off; making sure that we had a financial system that is functioning but also one that was sufficiently regulated, that consumers got a fair shake; making sure that we brought combat in Iraq to a close; making sure that anybody can serve in our military regardless of their sexual orientation -- (applause) -- making sure that in a country as wealthy as ours nobody is going bankrupt because they get sick, and no parent has to worry about selling their house because their child has a preexisting condition and he can’t get health insurance -- (applause) -- making sure that we got more women on the Supreme Court and that one of them is a Latina -- (applause) -- and making sure that women get equal pay for equal work so that my daughters when they come up -- (applause) -- are going to have the same chances as your sons. 
 
Each and every time we’ve had to make a decision, my guiding principle, that North Star, has been those values that we talked about during the campaign:  I am my brother’s keeper, I am my sister’s keeper.  A belief in an America that is competitive and compassionate.  A belief that there’s nothing we can’t accomplish if we come together, and that we have to think big in terms of what we need to accomplish. 
 
And we’ve made extraordinary progress, but we still have so much work to do.  There’s still too many people out there writing me letters that don’t have a job; too many folks who are worried about losing their home.  There’s still too many kids trapped in poverty in cities and rural areas all across America that we haven’t been able to reach.  There’s still discrimination out there.  There’s still unfairness and injustice out there. 
 
We’ve still got 100,000 troops in Afghanistan -- who are remarkable and doing everything they can to keep us safe.  We still have roads that need to be fixed and bridges that need to be repaired.  We still need an energy policy that doesn’t make us vulnerable to whatever spikes in the world oil market might occur. 
 
     Right now, there are folks in the Chicago-land area who are every day trying to figure out how am I going to fill up my gas tank.  And all the tax cuts that we provided to help working-class and middle-class families, they’re worried about those tax breaks being entirely eaten up by $4.00 a gallon gas. 
 
     We still have to worry about making sure that as the world’s largest economy, as the world’s wealthiest nation, that we’re taking the lead when it comes to climate change.  (Applause.)   We still have an obligation to make sure that we have an immigration policy in this country that matches up with our values as a nation of laws, but also a nation of immigrants.  (Applause.)  There are still small businesses out there just waiting to be started if they’re getting the right financing.  There are still young men and women who are just ready to seize the moment as engineers and scientists if we’re just making sure those research grants are flowing.  And we got to do all this in a context, as I talked about yesterday, in which our fiscal challenges are real. 
 
The speech I gave yesterday was not a partisan shot at the other side.  It was an attempt to clarify the choice that we have as a country right now.  (Applause.)  We agree, Democrats and Republicans, that we’ve got to come together and have a government that lives within its means, that is lean, is smart, is effective; that we’ve got a country that pays its bills and isn’t borrowing 30 or 40 cents for every dollar that we spend.  That is imperative. 
 
And if we’re progressive, we’ve got to care about the deficit just as much as the other side does, because we won’t be able to fund the research that's necessary, or the Head Start programs, or the college loan programs, or the infrastructure that we need, unless it’s on a firm, solid footing.
 
     But how we get there is important.  And you’ve got right now one side that I believe is entirely sincere that says we no longer can afford to do big things in this country.  We can't afford to be compassionate. 
 
We can't afford Medicare so let’s make sure that seniors get a voucher, and if the health insurance companies aren’t giving them full coverage or they can’t afford coverage with the voucher they get, tough luck, they're on their own.
 
     It’s a vision that says we can’t afford to rebuild our roads and our bridges.  We can’t afford high-speed rail.  We can’t afford broadband lines into rural areas so that everybody can be a part of this new global community.  We can’t afford to make sure the poor kid can go to college.  We can’t afford health care for another 50 million people.  That’s the choice they pose.
 
     Now, understand, it is a choice.  Because they’re absolutely right -- if people like me, if most of the people in this room, can’t afford to pay a little bit more in taxes, then a lot of this stuff we can’t afford.  If we’re insisting that those of us who are doing best in this society have no obligations to other folks, then, no, we can’t afford it.
 
     But if we’re willing to go back to our deepest roots and say to ourselves, you know what, that’s not how America was built, that’s not how we became the greatest nation on Earth, that’s not what the American way is all about; if we say to ourselves I do have that commitment to that child on the South Side or on the West Side or out in the south suburbs, for them to succeed, too  -- my life will be better if they succeed -- this is not charity, this is a good investment for me because I want to live in a society where all those kids have a shot; if we say to ourselves, you know what, I want people to have health care, I don’t want them going into the emergency room and sitting and waiting, and then getting the most expensive care; I think it makes sense for us to have a more effective health care system and one where everybody has basic coverage; if we’re saying to ourselves, I want to make sure that Malia and Sasha and your children and your grandchildren, that they’re inheriting a land that has clean rivers and air you can breathe and that's worth something to me, that's something I want to invest in because when I’m all finished here and I’m looking back on my life, I want to be able to say, we were good stewards of the planet --(applause) -- if that's what we believe, then we’ve got the ability to do that.  We’ve got the ability to do it, and it doesn’t take that much.  It just doesn’t take that much.
 
     If we apply some practical common sense to this, we can solve our fiscal challenges and still have the America that we believe in.  That's what this budget debate is going to be about. And that's what the 2012 campaign is going to be about. 
 
And so over the next three months, six months, nine months, I’m going to be a little preoccupied.  (Laughter.)  I’ve got this day job that -- (laughter) -- that I’ve got to handle.  And it means that I’m not going to see all of you as often I’d like.  It means that I’m not going to be able to make that phone call to you and thank you even though my gratitude is profound.
 
     It means that all of you are going to have to remember why I’m standing here, why we were successful -- because it wasn’t my campaign; it was your campaign.  It was your investment.  It was your time.  It was your energy.  It was your faith and it was your confidence that is allowing me to try to live up to those values that we share.
 
     And if you remember that, and if you take ownership for that, and if you are just as fired up now -- despite the fact that your candidate is a little older and a lot grayer -- (laughter and applause) -- then I have every confidence that we are going to be able finish the job.
 
     Thank you, Chicago.  I love you.  (Applause.)
 
                                        END                               6:35 P.M. CDT
President Barack Obama
DNC Event
MK Restaurant
Chicago, Illinois
 
7:46 P.M. CDT
 
 
     THE PRESIDENT:  Hello, everybody.  (Applause.)  Thank you so much.  Everybody, have a seat.  Have a seat.  These are a bunch of old friends, we can relax.  It is wonderful to be home.  And I want to thank the whole crew at MK for doing just a great job.  And I know everybody had a fabulous meal.
 
     I was reminding folks that Michelle and I used to come here for dates.  (Laughter.)  But now we have all these reporters come with us on dates, so it’s become a little rare.
 
     But it’s wonderful to see all of you.  As I look around the room I see people who I've known for years, who supported me when nobody could pronounce my name.  And so all of you are extraordinarily special.  And I'm going to have a chance to travel around the room and say thank you to each of you.
 
     There are a couple people obviously I want to acknowledge.  First of all, I'm not sure if her husband is here yet, but that doesn’t matter because she is -- she’s one of my favorite people -- Maggie Daley is in the house.  (Applause.)  So we are thrilled to have her here.  Thank you.  Your brother-in-law is doing okay. (Laughter.)       
 
     Speaking of chiefs of staff, I am incredibly fortunate to not only have somebody now who is doing an unbelievable job and has been able to slip into what I consider to be the toughest job in Washington without missing a beat -- and that's Bill Daley -- but I've also benefited from a great chief of staff when I first got there, and he’s got the best job in the world now, which is the mayor-elect, which means he doesn’t actually have to do anything yet.  (Laughter.)  But we love him -- Rahm Emanuel.  (Applause.) 
 
     And finally, somebody who is making really tough choices each and every day but is guided in making those choices by great values and a knowledge and memory of where he came from and always wanting to make sure that everybody has opportunity -- and that’s our governor, Pat Quinn.  So thrilled to have Patrick.  (Applause.) 
 
     So I want to spend most of this time in a conversation and answering questions, and then I want to spend the rest of the time roaming around the room and kissing and hugging everybody. 
 
But we’ve obviously gone through an extraordinary two and a half years.  And when Penny agreed to chair my finance committee back in 2007, part of the reason she did it is just she likes me and Michelle.  But part of it was I think a shared recognition that the country was at a crossroads.  We had enormous challenges and we had problems that we had been kicking down the road for years, and unless we acted decisively over the next four years, the next eight years, the next 10 years, that America’s greatness, its ability to respond to changing technologies, a changing economy, would be called into question.
 
     And we weren’t sure whether we were going to be able to pull it off, but what we were absolutely certain about was there were certain core values that we cared deeply about and that we were going to fight for and try to give voice to:  The idea that we are a country of individualists and freedom-loving people, folks who are self-reliant and entrepreneurial and understand that we have to earn our way, but also a country that recognizes we’re in this together, and that those of us who are lucky enough to be successful want to see other people be successful; and that we want a country that is reflective of generosity and compassion; and that we want every kid to be able to be a governor or the head of a big company, regardless of where they were born, and we want a country that respects everyone, regardless of their race or their gender or their sexual orientation. 
 
And we want a country that is thinking about the future so that we are good stewards of the Earth.  And we are laying the foundation for economic success, not just now, but 20 years from now and 50 years from now -- and that what makes all this work is that we are committed to taking responsibility for ourselves, but also that we’re responsible for something larger than ourselves.
 
     And that has to translate itself through our government in investments in education and investments in infrastructure and investments in science, and a willingness to make tough decisions about our budget, and willingness to make investments in environmental protection -- that all these things we do because  -- not out of charity, but because it makes our lives better to live in a country that is fair and just and provides an opportunity to everybody.
 
     And so many of you became part of this campaign because you shared in those values.  And we didn’t fully appreciate, I think, how historic the recession would be and how precipitous some of these issues would come at us.  But we understood that we were going to have to do some big things. 
 
And over the last two and a half years, every day I’ve woken up remembering why we got into this thing, remembering the sacrifices and investments that all of you made not just in me but in this bigger idea of America.   And whether it was yanking this country out of the worst recession since the Great Depression or saving an auto industry that some people -- had been -- had written off, or making sure that our capital markets were working the way they were supposed to so that people could invest in businesses and buy homes and finance their kids to go to college; whether it was making sure that the student loan programs worked for everybody and that our kids weren’t loaded up with debt, or making sure that in a country as wealthy as ours everybody had some basic health insurance and wouldn’t be bankrupt, or families wouldn’t have to sell their homes because they’ve got a child with a preexisting condition; making certain that we got our troops out of Iraq and ended combat missions there, but also made sure that anybody who wanted to serve, regardless of who they loved, were able to serve; making sure that we got two more women on the United States Supreme Court and that one of them was Latina so that we could say that -- (applause) -- the institution was truly representative; making sure that we had equal pay for equal work; and making sure that we kept America secure.
 
     And then they were pirates and pandemics and oil spills and -- but through all this, every single day what I was thinking about was how do we keep moving the country towards that vision that we collectively had:  A country that's more fair, more just, provides opportunity to all people.
 
     I couldn’t be prouder of our accomplishments because of people like Rahm, because of people like Bill, because of all of you.  But we’ve got a lot more work to do.  There’s so much more to do. 
 
     Every day I get letters from people all across the country, and over the last two and a half years, I can’t tell you how moving and heartbreaking and inspiring these letters are:  People who do everything right, work hard, look after their families and somehow have a spell of bad luck; or are sending out resume after resume but can’t find a job.  Kids writing, saying they think their parents are going to have to sell their home and wondering if there’s something I can do to help.  Families who have to drive 50 miles one way to get to their job and can’t afford to buy a new hybrid and so are stuck seeing huge chunks of their income consumed by rising gas prices. 
 
     There’s so much that I want to do for these folks -- because of that vision that we started with.  We still have to have an energy policy that makes sure we’re not subject to the whims of what happens on the other side of the world.  We still have to have an immigration policy that’s reflective of the fact that we’re a nation of laws but also a nation of immigrants. 
 
And we’re going to have a major budget debate over the next six months.  We just passed this last year’s budget, but that was just the appetizer.  That was just the trial run.  Because what we now have -- and I spoke to this yesterday -- is a very stark choice.  Somebody asked, well, were you too tough on the Ryan plan yesterday?  I said, that wasn’t a critique; that was a description. 
 
And I don’t doubt the sincerity of those who are presenting this plan.  But understand what it means.  What it means is that our commitment to seniors fundamentally changes, and they’ll get a voucher, and if they can’t afford all the health insurance that -- or the price of health insurance on the open market, they’re going to have to make up the difference.  And if they can’t make up the difference, too bad.  We won’t have actually driven health care costs down.  We will have just transferred it onto the backs of seniors and families who have disabled children, and families that need help with their parents in the nursing home and can’t afford it. 
 
Under their vision, we can’t invest in roads and bridges and broadband and high-speed rail.  I mean, we would be a nation of potholes, and our airports would be worse than places that we thought -- that we used to call the Third World, but who are now investing in infrastructure. 
 
     We would not be able to invest in basic research that helped to create the Internet and helped to create GPS, and is our main comparative advantage in this 21st century economy.  We couldn't afford to tell those kids on the West Side or the South Side, if you work hard, if you study hard, if you're hitting the books, that you're going to be able to afford to go to college.  We couldn't guarantee that.
 
     And what I tried to emphasize yesterday was that's not necessary.  It’s not a vision that’s impelled by the numbers.  It’s a vision that is a choice because the notion is, is that somehow those of us who have been blessed by this country, that we're just looking out for ourselves, and we're not willing to make sure that that kid can go to college, and we're not willing to make sure that that senior is getting decent care in their golden age -- their golden years.
 
     What is going to be valuable over the next six months and over the next 18 months is we are going to be able to present a very clear option to the American people:  We can get our fiscal house in order, but we can do it in a way that is consistent with our values and who we are as a people.  Or we can decide to shrink our vision of what America is. 
 
And I don't believe in shrinking America.  That's not who we are.  That's not what made America great.  I don't want a smaller America for Malia and Sasha, for your kids, for your grandkids.  I want a big, generous, energized, optimistic country.
 
That's what we're fighting for.  Now, over the next six months, I have this day job that I've got to take care of.  And so the main thing I want to emphasize tonight is remember that this is not my vision, this is your vision.  This is what you fought for.  This is why you invested in this campaign -- not just with your money, but with your time and your energy, with your hopes.  I need you to take that same kind of ownership over the next six months.
 
You know, your candidate is a little grayer now.  Some of the excitement of something entirely new is not going to be there, and I've got some dents and dings in the fender.  But that vision hasn’t changed.  What we care about hasn’t changed.  Our commitments should not have changed.
 
     And so this campaign is not my campaign; this is your campaign.  And the question is do we finish the job.  I’m prepared to finish the job.  I hope you are, too. 
 
Thanks.  (Applause.)
 
                                       END               7:56 P.M. CDT

President Barack Obama
DNC Event
Navy Pier
Chicago, Illinois

9:16 P.M. CDT

THE PRESIDENT:  Hello, Chicago!  (Applause.)  It is good to be back in Chicago!  (Applause.)  It’s good to be back in Navy Pier.  (Applause.)  And I didn’t have to pay for parking.  (Laughter.) 

I remember driving around that parking lot -- (laughter) -- taking Malia and Sasha to the Children’s Museum.  Can't find a spot.  (Laughter.)  You keep on going up, around and around and around.  (Laughter.)  It’s a lot smoother these days.  (Applause.) 

AUDIENCE MEMBER:  Love you!

THE PRESIDENT:  Love you back.  (Applause.) 

Everybody is a special guest, but we've got some super, super special guests.  First of all, we've got in the house “Mr. Cub” -- Ernie Banks is here.  (Applause.)  Second of all, we've got a former Bull who doesn’t look like he’s aged at all -- (laughter) -- still has that baby-face -- B.J. Armstrong is in the house.  (Applause.) 

I want to thank Colby Caillat for performing tonight -- (applause) -- and she’s going to be at White House Easter Egg Roll.  That's big.  (Laughter.)  You know you're big time.  (Laughter.)  Justin Bieber was just there.  (Applause.) 

Although I have to confess -- this is a little side note.  The White House Christmas party or “Christmas in Washington” event was going on.  And Usher was there and there were a bunch of performers.  And there was this little guy who really sang well, great entertainer.  And I was sort of acknowledging all the crowd, and I said, “And give it up for Justin “Biber.”  (Laughter.)  I didn’t know him at the time.  And everybody yelled, “It’s ‘Beeber’.”  And Malia and Sasha were mortified -- (laughter) -- when they heard that I had mispronounced his name. Anyway, that's an aside.

Rashard Mendenhall is in the house.  (Applause.)  Chicagoan and Pittsburgh Steeler. 

Now, in addition, before I begin, I want to pay tribute to a friend who has recently taken over this town.  He’s become the most powerful man in Chicago.  Unbelievable energy, sharp elbows -- (laughter) -- but has brought Chicagoans a new sense of hope about our future.  Give it up for Derek Rose.  (Applause.) 

AUDIENCE:  MVP!  MVP!  MVP!

THE PRESIDENT:  MVP!  MVP!  MVP!

I suppose Rahm is doing a pretty good job, too.  (Laughter.) 

And as good as Derek is, the Bulls would not be where they need to be if it were not for -- Mr. Joakim Noah is in the house. (Applause.)  And his mom is there, and I love his mom, too.  She’s wonderful.  Yes, it’s mom, you know, come on.  (Laughter.) 

Now, even as we are all excited about what the future holds for Chicago under its new mayor, we also owe Rahm’s predecessor, my chief of staff’s big brother, a huge debt of gratitude for taking a city that was already a great American city and turning it into a great world city, healing some of the divisions in this city.  We are grateful for Richard Daley.  Give it up for Richard Daley.  (Applause.)

But I can tell you that I like to tease Rahm.  I joke about him.  This is a guy who stepped in, in one of the toughest jobs in Washington -- if not the toughest job -- and stood by my side every step of the way.  And I have seen how he performs under pressure.  I have seen the kind of commitment that he has to the American people.  You guys made a good choice.  He is going to be a great mayor, and I am proud to call Rahm Emanuel my friend.  (Applause.)

So I look around the room and as crowded as it is, I just see friends everywhere.  (Applause.)  People I’ve been knowing for a long, long time.  It’s good to be home.  (Applause.)  It is good to be home.

This is the city where I fell in love and started a family. This is the city where I got my start in politics 25 years ago, working with churches on the South Side to bring jobs to the jobless and hope to the hopeless.  It’s where I stood with so many of you in Grant Park, almost two and a half years ago when we showed the world that all things are possible in the United States of America.  (Applause.)

And some of you may have heard this is where we’re going to be basing our headquarters for the 2012 campaign, right here, back home in Chicago.  (Applause.) 

Now, this is the first time in modern history that a sitting President has based their reelection campaign outside of Washington.  (Applause.)  But I decided I don't want our campaign to be just hearing all the pundits and the powerbrokers.  I want our campaign to be here because you guys are the ones who got me started.   (Applause.)  I see people in this audience who supported me when nobody could pronounce my name.  (Laughter.)  I see folks who supported me when I ran for Congress and got a beatdown -- (laughter) -- and then helped to nurse me back to health. 

One of the things that I’ve seen again and again over the last couple of years is the conversation in Washington is very different from the conversation around kitchen tables and office coolers.  And I wanted to make sure that our campaign was rooted in your hopes and rooted in your dreams.  (Applause.)  I want to make sure we’re putting the campaign in your hands -- in the same hands, the same organizers, the same volunteers who proved the last time that together ordinary folks can do extraordinary things.  That’s what this campaign is about.  (Applause.) 

Now, we’re all a bit older.  (Laughter.)  Some of us are a little bit grayer. 

AUDIENCE MEMBER:  Oh, yeah.  But you look good!  (Laughter.)   

THE PRESIDENT:  I’ll let Michelle know you said that.  (Laughter.) 

But all of us can remember that night in Grant Park, the excitement in the streets, the sense of hope, the sense of possibility.  And yet, even as we celebrate -- you remember what I said back then?  I said our work wasn’t ending; our work was just beginning -- because while it was clear that I was going to have a full plate going into Election Day, I’d be lying if I said that I knew how a plate -- how full that plate would be.  (Laughter.)  It’s been a little fuller than we imagined. 

We took office in the middle of the worst recession in our lifetimes -- one that left millions of Americans without jobs, had folks losing their homes.  A recession so bad that many families are still grappling with the aftershocks, even though the economy is growing again. 

But the economy is growing again. We’re creating jobs again. (Applause.)  Over the last four months we’ve seen the largest drop in unemployment since 1984.  (Applause.)  Over the last 13 months we’ve added nearly two million private sector jobs.  That didn’t happen by accident.  It happened because we made some tough choices -- like saving the American auto industry.

You remember they said it couldn't be done.  There were some folks who were going to write it off, but it was the right thing to do.  And now GM is hiring back every single worker they laid off -- (applause) -- and every one of the Big Three American automakers are making a profit once again.  That's because of the tough choices we made, because of the work you did getting me into office.  (Applause.)   

So make no mistake.  Because of you, we’ve been able to make real progress over the last few years.  Because of you, we were able to prevent another Great Depression.  Because of you, we’re making the most meaningful education reforms in a generation through a competition called Race to the Top, raising teachers up and raising learning standards in schools and states across America. 

Because of you, we overcame the status quo and reformed Wall Street, making sure that we’ve got some of the toughest consumer protections so you won’t get cheated when you apply for a mortgage or when you take out a credit card.  (Applause.)

Because of you, we did what we’ve been trying to do for almost a century and we made sure that everybody in this society of ours, if you get sick you don’t have to go bankrupt.  (Applause.)  If you get sick you don’t have to mortgage your house.  If your child has a preexisting condition they’re still going to be cared for because we passed health care reform that provided coverage for 30 million Americans.  (Applause.)  Because of you, we were able to rein in the worst abuses of the health care industry.  Because of you, not here in the United States of America are we going to have people who are on the streets because they get sick. 

Now, along the way we did a few other things.  We signed into law the Lilly Ledbetter bill, very simple idea that women need to get paid the same as men for the same kind of work.  (Applause.)  We finally overturned the injustice of “don't ask, don't tell,” and we said that everybody can serve their country. They don't have to lie to serve the country that they love.  (Applause.)  We put two women on the Supreme Court, including the first Latina justice.  (Applause.) 

We brought back 100,000 troops from Iraq and ended our combat mission there because we knew -- (applause) -- we knew that it was time. 

And along the way, we had to deal with pirates.  (Laughter.) Who thought we were going to have to deal with pirates?  (Laughter.)  That wasn’t in my campaign platform.  (Laughter.)  Pandemic, earthquakes.  Now --

AUDIENCE MEMBER:  Oil spill.

THE PRESIDENT:  Oil spill.  Don’t forget oil spill.  Golly.  (Laughter.) 

Now, part of the hopefulness and the anticipation we all felt that night in Grant Park was also about what we could do to secure and restore America’s standing in the world.  So that’s why we strengthened our alliances.  We signed historic arms control agreements, secured loose nuclear materials.  (Applause.) That’s why we’re on the right side of history now throughout the Middle East, because we believe in preventing innocents from getting slaughtered, and we believe in human rights for all people.  (Applause.) 

That’s why we’ve taken the fight to al Qaeda.  That’s why we’re still working in Iraq to make sure that that transitions to a peaceful democracy.  That’s why we’re taking care of those veterans when they come home because that is a sacred obligation that we have.  (Applause.) 

So here is the point, Chicago.  We have faced an extraordinary array of challenges at home and around the world.  But we wouldn’t have made any of this progress if it hadn’t been for you.  I was talking to a group earlier and I said, you know, I grew up here in Chicago.  I wasn’t born here.  (Laughter.)  Just want to be clear.  I was born in Hawaii.  (Applause.)  But I became a man here in Chicago.  (Applause.)  And a lot of the people who are here today -- the values, the ideals, my beliefs, my core convictions about what makes America great were forged here. 

Because it’s here in this incredibly diverse city, that people from every background, every creed, every color, from farm towns and inner-city neighborhoods that somehow come together, immigrants from all around the world, it is here that I was reminded about why America is so great.

It’s not the size of our skyscrapers.  It’s not the size of our GDP.  It’s the fact that we’re able to keep two ideas together at the same time:  One, that we’re all individuals with -- endowed with certain inalienable rights and liberties; and we’re self-reliant; and we’re entrepreneurs; and we don't want folks telling us what to do.  That’s part of -- being an individual is so important to us.  But we also have this idea that we’re all in this together; that we look out for one another; that I am my brother’s keeper, I am my sister’s keeper; that I want to make sure that child on the South Side or the West Side or out in Maywood or out in Dolton, that they’ve got the same opportunities that I’ve had.  (Applause.)  And that I’m looking after them, not out of charity, but because my life is richer, my life is better when the people around me are happy and the people around me have a shot at the American Dream. 

And those values that all of you helped to form in me, I carried those with me to the White House.  I wake up every day with them and I go to bed every night with them.  I’m thinking about you. 

And when I read those letters every night, from constituents all across the country, and they talk about what it’s like to send out 16 resumes and not get an answer back; and the desperation that a parent feels thinking they might not be able to take care of their kids; or a child writing a letter saying their parents are losing their home and they’re going to have to move, and, Mr. President, is there something that you can do -- when I’m thinking about those things, I’m also thinking back here, thinking back home, about what you’ve taught me. 

See, that campaign in 2008, it wasn’t my campaign, it was your campaign.  It was about your best instincts, your best impulses, your vision for an America that is more fair and more just and more equal, and has opportunity for everybody -- (applause) -- regardless of color, regardless of race, regardless of creed, regardless of religion, regardless of sexual orientation.  (Applause.) 

If you hadn’t knocked on all those doors, if you hadn’t called up all your friends back in 2008, I wouldn’t be here.  But you know what, we didn’t come here tonight just to go down Memory Lane.  We didn’t come here tonight just to pat ourselves on the back.  We came here tonight because we know that for all the progress we’ve made we’ve still got business to do.  We are not finished.  (Applause.)  And the only way we’re going to finish is the same way we began this journey, and that is together. 

We’re going to have to keep on -- we’re going to have to keep on working.  (Applause.)  Together, we’ve got to make sure any American who is looking for work can find a job that pays the bills.  (Applause.)  Together, we’ve got to make sure that hardworking families that are doing everything right aren’t falling behind, but getting ahead.  We’ve got to reclaim the American Dream for all Americans. 

That’s the change we still believe in.  That’s what I think about every single day.  That’s our North Star.  That’s our destination.  And we’re not there yet.  With your help we can keep American on track, though. 

With your help we will attract new jobs and new businesses to our shores.  We will make sure American isn’t just competing, but we’re competing to win in this economy.  With your help we’re going to make sure all our kids are ready for college, all our kids are ready for careers.  Because a world-class education is the single most important factor in whether America succeeds in the 21st century.  (Applause.) 

With your help, we can rebuild our crumbling infrastructure -- not just our roads and our bridges, but our high-speed rail lines and our communications networks.  (Applause.)  With your help, we can continue to invest in cutting-edge medical research and breakthrough technologies, and finally have an energy policy that makes sure that our entire economy isn’t subject to $4 or $5 gallon gas -- (applause) -- and reduce our dependence on foreign oil, and clean up the planet in the process, so we can bequeath to our children and our grandchildren the kind of planet that we inherited.  (Applause.)  With your help, we can out-educate and out-innovate and out-compete the rest of the world.  (Applause.) 

And we can only do all this, by the way, if we get our fiscal issues under control.  I gave a speech about this yesterday.  (Applause.)  When I was running for President, I talked about a new era of responsibility in this country.  And part of that means restoring some common sense about our federal finances, restoring fiscal discipline in Washington, living within our means. 

Last week we were able to prevent a government shutdown.  And the reason we were able to do it was because we agreed to spending cuts, but we insisted on protecting investments in things like education and medical research.  (Applause.)  But now we’ve got to reign in this long-term deficit and deal with this long-term debt because it threatens our financial stability.  We won’t be able to do all those good things if we don't get our fiscal house in order. 

But if we don't deal with these issues, all the issues we care about we’re not going to be able to solve.  Educating our kids; caring for our sick; looking after our seniors and our poor -- all of that will be threatened.  So yesterday I tried to lay out a vision for how we tackle this problem.  We need to build on the compromises we made last week, but we can’t compromise on our investments to grow, the investments we need to create jobs.  (Applause.)

We’ve got to reform defense spending.  We’ve got to reform health care spending.  (Applause.)  But we’re not going to sacrifice our fundamental commitment that we made to one another through Medicare and Medicaid and Social Security, the safety net for our people.  (Applause.)

And we need to bring some balance to our tax code.  Back in December I agreed to extend the tax cuts for the wealthiest Americans as much as I disliked it because it was the only way to prevent a tax hike on the middle class.  But the fact is we can’t afford $1 trillion of tax cuts for folks like me.  Not now -- not now, now when so many other Americans are struggling; not when our deficits are so high.

I think Americans like Michelle and me, we’ve been blessed. This country has given so much to us.  We can afford to do a little bit more to make sure that every child in this country has opportunity and every senior is looked after.  (Applause.)  I think that's something that we can do. 

That's our vision for America.  We’ve got a big vision for America, of a compassionate America and a caring America and an ambitious America, not a small America.  (Applause.)  It’s a vision where we’re living within our means but we’re still investing in our future.  Where everyone makes sacrifices; no one bears all the burden.  Where we live up to the idea that no matter who we are or what we look like, no matter whether our ancestors landed on Ellis Island or came here on slave ships or across the Rio Grande, we are connected to one another.  That I am my brother’s keeper, I am my sister’s keeper.  In this country, we rise and fall together.  (Applause.) 

That’s the idea at the heart of America.  That’s why we’re going to keep on fighting for immigration reform -- (applause) -- because we can’t have a nation that forgets its immigrant roots. We can have a nation that is a nation of laws but also a nation of immigrants. 

This idea of bringing everyone together and making sure that everybody is contributing, everybody is responsible, but everybody also looks out for one another -- that’s the idea at the heart of our last campaign.  That’s the idea at the heart of this campaign.  That’s the idea at the heart of America. 

This is not my campaign.  This is your campaign.  (Applause.)  And I’ve got to tell you, there’s going to come a time when I’ll fully engage in this race.  When the time comes, I will be campaigning.  (Laughter.)  I’ll be ready to go.  But I’ve got to tell you, right now, I still have this day job -- (laughter) --

AUDIENCE:  You're the big time.  (Applause.) 

THE PRESIDENT:  And that’s why I’m going to need your your help now more than ever.  This campaign is still in its early stages, but now is the time when you can help shape it to make sure it gets out of the gate strong. 

Let me tell you, I’m grayer and I’m a little dinged up.  (Laughter.)  I know there are times where some of you have felt frustrated because we’ve had to compromise with the Republicans on some issues.  There have been times people are frustrated because we didn’t get everything done in the first two years.  There have been times where I felt the same way you do.  But you know what, we knew this would not be easy. 

We knew that on a journey like this there are going to be setbacks, there are going to be detours, there are going to be times where you stumble.  But we also knew something else.  We knew that at each and every juncture in our history, when our future was on the line, when we were at a crossroads like we are now, the country came together.  We were able to make the changes that we needed. 

That’s what earlier generations did -- in Lexington, in Concord, in Salem, in Stonewall.  That’s what so many of you did out in cornfields in Iowa; polling places in Wrigleyville.  And that’s what I need each and every one of you to remember, and do one more time -- not for me, but for us.  (Applause.)  For the future we hold in common.  (Applause.)  For the better days that lie ahead.  (Applause.)  

So whenever you hear people say our problems are too big to solve or we can’t bring about the changes we seek, I want you to think about all the progress we’ve already made.  I think -- I want you to think about all the unfinished business that lies ahead.  I want you to be excited about the future that lies before us.  And I want to remind you, and I want you to remind everybody else, of those simple words that summed up what we believe as a people:  Yes, we can.  (Applause.) 

Thank you.  (Applause.)

END
9:47 P.M. CDT