Transcript: President Obama's DNC Speech

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This is the choice we now face. This is what the election comes down to. Over and over, we have been told by our opponents that bigger tax cuts and fewer regulations are the only way; that since government can't do everything, it should do almost nothing. If you can't afford health insurance, hope that you don't get sick. If a company releases toxic pollution into the air your children breathe, well, that's just the price of progress. If you can't afford to start a business or go to college, take my opponent's advice and "borrow money from your parents."

You know what? That's not who we are. That's not what this country's about. As Americans, we believe we are endowed by our Creator with certain inalienable rights – rights that no man or government can take away. We insist on personal responsibility and we celebrate individual initiative. We're not entitled to success. We have to earn it. We honor the strivers, the dreamers, the risk-takers who have always been the driving force behind our free enterprise system – the greatest engine of growth and prosperity the world has ever known.

But we also believe in something called citizenship – a word at the very heart of our founding, at the very essence of our democracy; the idea that this country only works when we accept certain obligations to one another, and to future generations.

We believe that when a CEO pays his autoworkers enough to buy the cars that they build, the whole company does better.

We believe that when a family can no longer be tricked into signing a mortgage they can't afford, that family is protected, but so is the value of other people's homes, and so is the entire economy.

We believe that a little girl who's offered an escape from poverty by a great teacher or a grant for college could become the founder of the next Google, or the scientist who cures cancer, or the President of the United States – and it's in our power to give her that chance.

We know that churches and charities can often make more of a difference than a poverty program alone. We don't want handouts for people who refuse to help themselves, and we don't want bailouts for banks that break the rules. We don't think government can solve all our problems. But we don't think that government is the source of all our problems – any more than are welfare recipients, or corporations, or unions, or immigrants, or gays, or any other group we're told to blame for our troubles.

Because we understand that this democracy is ours.

We, the People, recognize that we have responsibilities as well as rights; that our destinies are bound together; that a freedom which only asks what's in it for me, a freedom without a commitment to others, a freedom without love or charity or duty or patriotism, is unworthy of our founding ideals, and those who died in their defense.

As citizens, we understand that America is not about what can be done for us. It's about what can be done by us, together, through the hard and frustrating but necessary work of self-government.

So you see, the election four years ago wasn't about me. It was about you. My fellow citizens – you were the change.

You're the reason there's a little girl with a heart disorder in Phoenix who'll get the surgery she needs because an insurance company can't limit her coverage. You did that.

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