"It is our unfinished task to make sure that this government works on behalf of the many, and not just the few; that it encourages free enterprise, rewards individual initiative, and opens the doors of opportunity to every child across this great nation of ours.
"The American people don't expect government to solve every problem. They don't expect those of us in this chamber to agree on every issue. But they do expect us to put the nation's interests before party."
"A growing economy that creates good, middle-class jobs - that must be the North Star that guides our efforts. Every day, we should ask ourselves three questions as a nation: How do we attract more jobs to our shores? How do we equip our people with the skills needed to do those jobs? And how do we make sure that hard work leads to a decent living?"
"Tonight, I'll lay out additional proposals that are fully paid for and fully consistent with the budget framework both parties agreed to just 18 months ago. Let me repeat - nothing I'm proposing tonight should increase our deficit by a single dime. It's not a bigger government we need, but a smarter government that sets priorities and invests in broad-based growth."
The GOP response
Excerpts from Florida Sen. Marco Rubio's address, from his website.
"Mr. President, I still live in the same working class neighborhood I grew up in. My neighbors aren't millionaires. They're retirees who depend on Social Security and Medicare. They're workers who have to get up early tomorrow morning and go to work to pay the bills. They're immigrants, who came here because they were stuck in poverty in countries where the government dominated the economy.
"The tax increases and the deficit spending you propose will hurt middle class families. It will cost them their raises. It will cost them their benefits. It may even cost some of them their jobs. And it will hurt seniors because it does nothing to save Medicare and Social Security. So Mr. President, I don't oppose your plans because I want to protect the rich. I oppose your plans because I want to protect my neighbors."
"Despite our differences, I know that both Republicans and Democrats love America. I pray we can come together to solve our problems, because the choices before us could not be more important. If we can get our economy healthy again, our children will be the most prosperous Americans ever. And if we do not, we will forever be known as the generation responsible for America's decline."