You know, in a world of new threats and new challenges, you can choose leadership that has been tested and proven. Four years ago I promised to end the war in Iraq. We did. (applause.) I promised to refocus on the terrorists who actually attacked us on 9/11, and we have. (applause.) We've blunted the Taliban's momentum in Afghanistan and in 2014, our longest war will be over. (applause.) A new tower rises above the New York skyline, al- Qaida is on the path to defeat and Osama bin Laden is dead. (applause.)
And tonight we pay tribute to the Americans who still serve in harm's way. We are forever in debt to a generation whose sacrifice has made this country safer and more respected. We will never forget you, and so long as I'm commander in chief, we will sustain the strongest military the world has ever known. (applause.) When you take off the uniform, we will serve you as well as you've served us, because no one who fights for this country should have to fight for a job or a roof over their head or the care that they need when they come home.
(applause.)
Around the world, we've strengthened old alliances and forged new coalitions to stop the spread of nuclear weapons. We've reasserted our power across the Pacific and stood up to China on behalf of our workers. From Burma to Libya to South Sudan, we have advanced the rights and dignity of all human beings -- (cheers) -- men and women; Christians and Muslims and Jews. (applause.)
But for all the progress that we've made, challenges remain. Terrorist plots must be disrupted. Europe's crisis must be contained. Our commitment to Israel's security must not waver, and neither must our pursuit of peace. (applause.) The Iranian government must face a world that stays united against its nuclear ambitions. The historic change sweeping across the Arab world must be defined not by the iron fist of a dictator or the hate of extremists, but by the hopes and aspirations of ordinary people who are reaching for the same rights that we celebrate here today. (applause.)
So now we have a choice. My opponent and his running mate are new to foreign policy. (Laughter, applause.)
But from all that we've seen and heard, they want to take us back to an era of blustering and blundering that cost America so dearly.
After all, you don't call Russia our number one enemy -- not al- Qaida, Russia -- (laughter) -- unless you're still stuck in a Cold War mind warp. (applause.)
You might not be ready for diplomacy with Beijing if you can't visit the Olympics without insulting our closest ally.
(Laughter, applause.)
My opponent -- my opponent said that it was tragic to end the war in Iraq. And he won't tell us how he'll end the war in Afghanistan. Well, I have, and I will. (applause.) And while my opponent would spend more money on military hardware that our Joint Chiefs don't even want, I will use the money we're no longer spending on war to pay down our debt and put more people back to work -- (extended applause) -- rebuilding roads and bridges and schools and runways, because after two wars that have cost us thousands of lives and over a trillion dollars, it's time to do some nation building right here at home. (applause.)
You can choose a future where we reduce our deficit without sticking it to the middle class. (applause.) Independent experts say that my plan would cut our deficit by $4 trillion. (Cheers.) And last summer I worked with Republicans in Congress to cut a billion dollars in spending, because those of us who believe government can be a force for good should work harder than anyone to reform it so that it's leaner and more efficient and more responsive to the American people. (applause.)
I want to reform the tax code so that it's simple, fair and asks the wealthiest households to pay higher taxes on incomes over $250,000 -- (applause) -- the same rate we had when Bill Clinton was president, the same rate we had when our economy created nearly 23 million new jobs, the biggest surplus in history and a whole lot of millionaires to boot.
(Applause.)
Now, I'm still eager to reach an agreement based on the principles of my bipartisan debt commission. No party has a monopoly on wisdom. No democracy works without compromise. I want to get this done, and we can get it done.
But when Governor Romney and his friends in Congress tell us we can somehow lower our deficits by spending trillions more on new tax breaks for the wealthy, well -- (boos) -- what'd Bill Clinton call it? You do the arithmetic. (Laughter, applause.) You do the math.
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