Transcript: The Future of our Fight against Terrorism

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Now make no mistake: Our nation is still threatened by terrorists. From Benghazi to Boston, we have been tragically reminded of that truth. But we recognize that the threat has shifted and evolved from the one that came to our shores on 9/11. With a decade of experience to draw from, this is the moment to ask ourselves hard questions about the nature of today's threats and how we should confront them.

And these questions matter to every American. For over the last decade, our nation has spent well over a trillion dollars on war, helping to explode our deficits and constraining our ability to nation-build here at home. Our service members and their families have sacrificed far more on our behalf.

Nearly 7,000 Americans have made the ultimate sacrifice. Many more have left a part of themselves on the battlefield or brought the shadows of battle back home. From our use of drones to the detention of terrorist suspects, the decisions we are making will define the type of nation and world that we leave to our children.

So America is at a crossroads. We must define the nature and scope of this struggle, or else it will define us. We have to be mindful of James Madison's warning that no nation could preserve its freedom in the midst of continual warfare. Neither I nor any president can promise the total defeat of terror. We will never erase the evil that lies in the hearts of some human beings nor stamp out every danger to our open society. But what we can do, what we must do, is dismantle networks that pose a direct danger to us and make it less likely for new groups to gain a foothold, all the while maintaining the freedoms and ideals that we defend. And to define that strategy, we must make decisions based not on fear but on hard- earned wisdom. And that begins with understanding the current threat that we face.

Today the core of al Qaida in Afghanistan and Pakistan is on the path to defeat. Their remaining operatives spend more time thinking about their own safety than plotting against us.

They did not direct the attacks in Benghazi or Boston. They've not carried out a successful attack on our homeland since 9/11.

Instead what we've seen is the emergence of various al-Qaida affiliates. From Yemen to Iraq, from Somalia to North Africa, the threat today is more diffuse, with al-Qaida's affiliates in the Arabian Peninsula, AQAP, the most active in plotting against our homeland. And while none of AQAP's efforts approach the scale of 9/11, they have continued to plot acts of terror, like the attempt to blow up an airplane on Christmas Day in 2009.

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