The Young Turks

Obama's commencement speech at Knox College June 2005.

" ... there are those who believe that there isn't much we can do about this as a nation. That the best idea is to give everyone one big refund on their government - divvy it up into individual portions, hand it out, and encourage everyone to use their share to go buy their own health care, their own retirement plan, their own child care, education, and so forth.

In Washington, they call this the Ownership Society. But in our past there has been another term for it - Social Darwinism - every man or woman for him or herself. It's a tempting idea, because it doesn't require much thought or ingenuity. It allows us to say that those whose health care or tuition may rise faster than they can afford - tough luck. It allows us to say to the Maytag workers who have lost their job - life isn't fair. It lets us say to the child who was born into poverty - pull yourself up by you bootstraps...

But there is a problem. It won't work. It ignores our history. It ignores the fact that it's been government research and investment that made the railways possible and the internet possible. It has been the creation of a massive middle class, through decent wages and benefits and public schools - that has allowed all of us to prosper. Our economic dominance has depended on individual initiative and belief in the free market; but it has also depended on our sense of mutual regard for each other, the idea that everybody has a stake in the country, that we're all in it together and everybody's got a shot at opportunity - that has produced our unrivaled political stability."