Barack Obama Makes History as First African American Nominee of Major Political Party

For over two decades, he's subscribed to that old, discredited Republican philosophy – give more and more to those with the most and hope that prosperity trickles down to everyone else. In Washington, they call this the Ownership Society, but what it really means is – you're on your own. Out of work? Tough luck. No health care? The market will fix it. Born into poverty? Pull yourself up by your own bootstraps – even if you don't have boots. You're on your own.

Well it's time for them to own their failure. It's time for us to change America.

You see, we Democrats have a very different measure of what constitutes progress in this country.

We measure progress by how many people can find a job that pays the mortgage; whether you can put a little extra money away at the end of each month so you can someday watch your child receive her college diploma. We measure progress in the 23 million new jobs that were created when Bill Clinton was President – when the average American family saw its income go up $7,500 instead of down $2,000 like it has under George Bush.

We measure the strength of our economy not by the number of billionaires we have or the profits of the Fortune 500, but by whether someone with a good idea can take a risk and start a new business, or whether the waitress who lives on tips can take a day off to look after a sick kid without losing her job – an economy that honors the dignity of work.

The fundamentals we use to measure economic strength are whether we are living up to that fundamental promise that has made this country great – a promise that is the only reason I am standing here tonight.

Because in the faces of those young veterans who come back from Iraq and Afghanistan, I see my grandfather, who signed up after Pearl Harbor, marched in Patton's Army, and was rewarded by a grateful nation with the chance to go to college on the GI Bill.

In the face of that young student who sleeps just three hours before working the night shift, I think about my mom, who raised my sister and me on her own while she worked and earned her degree; who once turned to food stamps but was still able to send us to the best schools in the country with the help of student loans and scholarships.

When I listen to another worker tell me that his factory has shut down, I remember all those men and women on the South Side of Chicago who I stood by and fought for two decades ago after the local steel plant closed.

And when I hear a woman talk about the difficulties of starting her own business, I think about my grandmother, who worked her way up from the secretarial pool to middle-management, despite years of being passed over for promotions because she was a woman. She's the one who taught me about hard work. She's the one who put off buying a new car or a new dress for herself so that I could have a better life. She poured everything she had into me. And although she can no longer travel, I know that she's watching tonight, and that tonight is her night as well.

I don't know what kind of lives John McCain thinks that celebrities lead, but this has been mine. These are my heroes. Theirs are the stories that shaped me. And it is on their behalf that I intend to win this election and keep our promise alive as President of the United States.

What is that promise?

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