HIGH. BUT THAT'S WHAT WE DID.

THAT'S WHAT YOU DID.

YOU WERE THE CHANGE. YOUR

ANSWER PEOPLE'S HOPES BY ALMOST

EVERY MEASURE AMERICA IS A

BETTER AND STRONGER PLACE THAN

IT WAS WHEN WE STARTED.

>> [CHEERS]

IN 10 DAYS THE WORLD WILL

WITNESS THE HALLMARK OF OUR

DEMOCRACY. NO, NO, NO.

THE PEACEFUL TRANSFER OF POWER

FROM ONE FREELY ELECTED

PRESIDENT TO THE NEXT.

I COMMITTED TO PRESENT A

LECTURE FROM FOR SMOOTH

TRANSITION JUST AS BUSH DID FOR

ME [APPLAUSE]

>> BECAUSE IT'S UP TO ALL OF US

TO MAKE SURE OUR GOVERNMENT CAN

HELP MEET THE MANY CHALLENGES

WE STILL FACE.

WE HAVE A WE NEED TO DO SOME.

WE HAVE EVERYTHING WE NEED TO

MEET THE CHALLENGES. AFTER ALL,

WE REMAIN THE WEALTHIEST MOST

POWERFUL AND MOST RESPECTFUL

NATION ON EARTH READ AND YOU

ARE DRIVE OPENNESS AND CAPACITY

MEET THE FUTURE SHOULD BE OURS.

BUT THAT POTENTIAL WILL ONLY BE

REALIZED IF DEMOCRACY WORKS.

ONLY IF OUR POLITICS BETTER

REFLECTS THE DECENCY OF OUR

PEOPLE.

[APPLAUSE]

>> ONLY IF ALL OF US REGARDLESS

OF PARTY AFFILIATION WITH

STORES THE SENSE OF COMMON

PURPOSE WE SO BADLY NEED RIGHT

NOW.

THAT'S WHAT I WANT TO FOCUS ON

TONIGHT.

THE STATE OF OUR DEMOCRACY.

UNDERSTAND DEMOCRACY DOES NOT

REQUIRE UNIFORMITY. OUR FOUNDERS

ARGUED AND WORLD AND EVENTUALLY

THEY COMPROMISED THEY EXPECTED

US TO DO THE SAME. EXPECT --

THEY KNEW THAT DEMOCRACY DOES

REQUIRE A BASIC SENSE OF

SOLIDARITY. THE IDEA THAT FOR

ALL OUR OUTWARD DIFFERENCES WE

ARE IN THIS TOGETHER, THAT WE

RISE OR FALL IS -- ASWAN.

[APPLAUSE]

SEVEN MOMENTS THROUGHOUT OUR

HISTORY THAT THREATENED THAT

SOLIDARITY WITH THE BEGINNING

OF THE CENTURY HAS BEEN ONE OF

THOSE TIMES. A SHRINKING WORLD,

GROWING INEQUALITY, DEMOGRAPHIC

CHANGE THE SPECTER OF

CHARACTERS APPEAR THESE FORCES

HAVE NOTICED TESTED OUR SECURITY

, AND PROSPERITY BUT TESTING OUR

DEMOCRACY AS WELL.

AND HOW WE MEET THESE CHALLENGES

TO THE DEMOCRACY AND OUR

ABILITY TO EDUCATE OUR KIDS TO

PROTECT OUR HOMELAND TO CREATE

GOOD JOBS.

IN OTHER WORDS, IT WILL

DETERMINE OUR FUTURE.

TO BEGIN WITH, OUR DEMOCRACY

WON'T WORK WITHOUT A SENSE THAT

EVERYONE HAS ECONOMIC

OPPORTUNITY. THE GOOD NEWS IS

THAT TODAY THE ECONOMY IS

GROWING AGAIN, WAGES AND HOME

VALUES AND RETIREMENT ACCOUNTS

ARE ALL RISING. POVERTY IS

FALLING AGAIN.

[APPLAUSE]

THE WEALTHY ARE PAYING THEIR

FAIR SHARE OF TAXES EVEN THE

STOCK MARKET -- THE

UNEMPLOYMENT RATE IS AT A 10

YEAR LOW UNINSURED RATE HAS

NEVER EVER BEEN LOWER.

[APPLAUSE]

[CHEERS].

>> HEALTHCARE COSTS ARE RISING

AT THE SMALLEST RATE AND 50

YEARS AND I'VE SAID AND I MEAN

IT IF ANYONE CAN PUT TOGETHER A

PLAN THAT WOULD BE BETTER THAN

OUR HEALTHCARE SYSTEM THAT

COVERS AS MANY PEOPLE I WILL

PUBLICLY SUPPORTED.

-- SUPPORT IT.

[APPLAUSE]

[CHEERS].

THAT AFTER ALL IS WHY WE SERVE.

NOT TO SCORE POINTS OR TAKE

CREDIT FOR TO MAKE PEOPLE'S

LIVES BETTER. FOR ALL THE REAL

PROGRESS WE HAVE MADE WE KNOW

IT'S NOT ENOUGH. OUR ECONOMY

DOESN'T WORK AS WELL OR GROW AS

FAST. THAT THE ECONOMIC ARGUMENT

BUT START INEQUALITY IS

CORROSIVE TO OUR DEMOCRATIC

IDEA.

THE TOP 1% HAS AMASSED A BIGGER

SHARE OF WEALTH AND INCOME IN

INNER CITIES.WORKER THAT'S

BARELY GETTING BY CONVINCED

THAT THE GAME IS FIXED AGAINST

THEM OF THE GOVERNMENT ONLY

SERVES THE INTERESTS OF THE

POWERFUL, THAT'S A RECIPE FOR

MORE CYNICISM AND POLARIZATION

IN OUR POLITICS.

THERE ARE NO QUICK FIXES TO

THIS LONG-TERM TREND THAT I

AGREE THAT OUR TRADE TO BE FAIR

-- THE NEXT WAVE OF ECONOMIC

DISLOCATION WON'T COME FROM

OVERSEAS IT WILL COME FROM THE

RELENTLESS PACE OF AUTOMATION

THAT MAKES A LOT OF GOOD MIDDLE-

CLASS JOBS OBSOLETE.

AND SO WERE GOING TO HAVE TO

FORGE A NEW SOCIAL COMPOUND TO

GUARANTEE ALL OUR KIDS THE

EDUCATION THEY NEED TO GIVE

WORKERS -- [APPLAUSE]

THE POWER TO UNIONIZE FOR

BETTER WAGES TO UPDATE THE

SOCIAL SAFETY NET TO REFLECT

THE WAY WE LIVE NOW.

MAKE MORE REFORMS TO THE TAX

CODE SO CORPORATIONS AND

INDIVIDUALS WITH THE MOST FROM

THIS NEW ECONOMY DON'T AVOID

OBLIGATIONS TO THE COUNTRY

THAT'S MADE THEIR VERY SUCCESS

POSSIBLE.

WE CAN ARGUE ABOUT HOW TO BEST

ACHIEVE THESE GOALS BUT WE

CAN'T BE COMPLACENT ABOUT THE

GOALS THEMSELVES. FOR IF WE

DON'T CREATE THE OPPORTUNITY

FOR ALL PEOPLE THE DISAFFECTION

-- HAS TOLD OUR PROGRESS WILL

ONLY SHOP IN YEARS TO COME.

AS A SECOND THREAT TO OUR

DEMOCRACY THIS ONE IS AS OLD AS

OUR NATION ITSELF.

AFTER THE ELECTION THERE WAS

TALK OF A POST-RACIAL AMERICA.

SUCH A VISION, HOWEVER WELL

INTENDED, WAS NEVER REALISTIC.

RACE REMAINS A POTENT OFTEN

VISCERAL FORCE IN OUR SOCIETY.

I'VE LIVED LONG ENOUGH TO KNOW

RACIAL ISSUES ARE BETTER THAN

THEY WERE 10 OR 20 OR 30 YEARS

AGO THE MATTER WHAT SOME FOLKS

SAY THAT YOU CAN SEE IT IN SOME

STATISTICS AND THE ATTITUDES OF

YOUNG AMERICANS ACROSS THE

POLITICAL SPECTRUM.

WE'RE NOT WHERE WE NEED TO BE.

ALL OF US HAVE MORE WORK TO DO.

IF EVERY ECONOMIC ISSUE IS

FRAMED AS A STRUGGLE BETWEEN

THE HARD-WORKING WHITE MIDDLE-

CLASS AND UNDESERVING MINORITY

WORKERS OF ALL SHADES ARE GOING

TO BE LEFT FIGHTING FOR SCRAPS

WHILE THE WEALTHY WOULD GET

FURTHER INTO THEIR PRIVATE

ARCHIVES. [APPLAUSE]

[CHEERS]

IF WE ARE UNWILLING TO INVEST

IN THE CHILDREN OF IMMIGRANTS

JUST BECAUSE THEY DON'T LOOK

LIKE US, WE WILL DIMINISH THE

PROSPECTS OF OUR OWN CHILDREN

BECAUSE THOSE BROWN KIDS WILL

REPRESENT A LARGER AND LARGER

SHARE OF AMERICA'S WORKFORCE.

[CHEERS]

[APPLAUSE].

AND WE HAVE SHOWN THAT OUR

ECONOMY DOESN'T HAVE TO BE A

ZERO-SUM GAME.

FOR ALL RACES AND ALL AGES FOR

MEN AND FOR WOMEN IF WE'RE

GOING TO BE SERIOUS GOING ABOUT

-- ABOUT RACE GOING FORWARD TO

UPHOLD LAWS AGAINST

DISCRIMINATION AT IN HOUSING

AND AN EDUCATION AND CRIMINAL

JUSTICE SYSTEM. THAT IS WHAT

OUR CONSTITUTION AND HIGHEST

IDEALS REQUIRE. [CHEERS &

APPLAUSE] .

>> THE LAWS ALONE WON'T BE

ENOUGH.

HEARTS MUST CHANGE.

IT WILL CHANGE OVERNIGHT THE

SOCIAL ATTITUDES OFTEN TAKE

GENERATIONS TO CHANGE THAT IF

OUR DEMOCRACY IS TO WORK, IF

OUR DEMOCRACY SHOULD IN THIS

DIVERSE NATION IN EACH ONE OF US

TYPES THE ADVICE -- ATTICUS

FINCH IS THAT YOU NEVER

UNDERSTAND A PERSON UNTIL YOU

CAN THINK OF IS ONE OF YOU

ACTUALLY QUITE INTO HIS SKIN

AND WALK AROUND.

FOR BLACKS AND OTHER MINORITY

GROUPS THAT NEEDS TIME OUR OWN

STRUGGLES FOR JUSTICE TO THE

CHALLENGES A LOT OF PEOPLE IN

THIS COUNTRY FACE IT NOT ONLY

REFUGEES ARE IMMIGRANTS REPORT

OR TRANSGENDER AMERICAN THAT

AWFUL THE MIDDLE-AGED WHITE GUY

WHO FROM THE OUTSIDE MAY SEEM

LIKE HE GOT ADVANTAGES THAT MAY

DOES WHAT HE SEES HIS WORLD

UPENDED BY ECONOMIC AND

CULTURAL AND TECHNOLOGICAL

CHANGE.

YOU HAVE TO PAY ATTENTION AND

LISTEN. [CHEERS & APPLAUSE] .

FOR WHITE AMERICANS AND IS

ACKNOWLEDGING THAT ALTERING THE

EFFECTS OF SLAVERY AND JIM CROW

DIDN'T JUST SUDDENLY VANISHED

IN THE 60s FOR THAT MINORITY

GROUPS ARE NOT PRACTICING

POLITICAL CORRECTNESS WHEN THEY

WAGE PEACEFUL PROTEST THEY ARE

DEMANDING EQUAL TREATMENT

[CHEERS & APPLAUSE]

. FOR NATIVEBORN AMERICANS THAT

MEANS REMINDING OURSELVES THAT

OUR STEREOTYPES ABOUT

IMMIGRANTS WERE ALMOST AT WORD

FOR WORD ABOUT THE IRISH AND

ITALIAN AND POLISH PEOPLE IT

WAS SAID THEY WERE DESTROYED

FUNDAMENTAL CHARACTER OF

AMERICA.

AND AS IT TURNED OUT AMERICA

WAS WE CAN EITHER PRESENTS OF

THESE NEWCOMERS.

THEY EMBRACED THE NATION'S CREED

AND IT WAS STRENGTHENED.

[APPLAUSE]

REGARDLESS OF THE STATION WE

OCCUPIED WE ALL HAVE TO START

WITH THE PREMISE THAT EACH OF

OUR FELLOW CITIZENS LOSSES

COUNTRY JUST AS MUCH AS WE DO

THEY VALUE HARD WORK AND FAMILY

JUST LIKE WE DO. OF THE

CHILDREN ARE JUST AS CURIOUS

AND HOPEFUL AND WORTHY OF LOVE

AS OUR OWN.

[CHEERS & APPLAUSE]

AND THAT'S NOT EASY TO DO.

FOR TOO MANY OF US HAS BECOME

SEVERED TO RETREAT INTO OUR OWN

BUBBLES WEATHER IN OUR

NEIGHBORHOODS OR ON COLLEGE

CAMPUSES OR PLACES OF WORSHIP

OR ESPECIALLY OUR SOCIAL MEDIA

FEEDS. SURROUNDED BY PEOPLE WHO

LOOK LIKE US AND SHARE THE SAME

POLITICAL OUTLOOK AND NEVER

CHALLENGE OUR SOLUTIONS. THE

RISE OF ECONOMIC AND REGIONAL

CERTIFICATION THE SPLINTERING

OF OUR MEDIA INTO CHANNEL FOR

EVERY TASTE ALL THIS MAKES US

GREAT SORTING SEEM NATURAL THAT

EVEN INEVITABLE AND

INCREASINGLY WE BECOME SO

SECURE IN OUR BUBBLES THAT WE

START EXCEPTING ONLY INFORMATION

, WHETHER SHE WERE NOT, THAT

FITS OUR OPINIONS CELEBRATING