Watch the full video and read the full text of President Barack Obama’s farewell address in Chicago.

Full Transcript Of Barack Obama’s Speech

It’s good to be home. My fellow Americans, Michelle and I have been so touched by all the well-wishes we’ve received over the past few weeks. But tonight it’s my turn to say thanks. Whether we’ve seen eye-to-eye or rarely agreed at all, my conversations with you, the American people – in living rooms and schools; at farms and on factory floors; at diners and on distant outposts – are what have kept me honest, kept me inspired, and kept me going. Every day, I learned from you. You made me a better President, and you made me a better man.

I first came to Chicago when I was in my early twenties, still trying to figure out who I was; still searching for a purpose to my life. It was in neighborhoods not far from here where I began working with church groups in the shadows of closed steel mills. It was on these streets where I witnessed the power of faith, and the quiet dignity of working people in the face of struggle and loss. This is where I learned that change only happens when ordinary people get involved, get engaged, and come together to demand it.

Michelle Obama And Barack Obama
Image source: Wikimedia Commons

After eight years as your President, I still believe that. And it’s not just my belief. It’s the beating heart of our American idea – our bold experiment in self-government.

It’s the conviction that we are all created equal, endowed by our Creator with certain unalienable rights, among them life, liberty, and the pursuit of happiness. It’s the insistence that these rights, while self-evident, have never been self-executing; that We, the People, through the instrument of our democracy, can form a more perfect union.This is the great gift our Founders gave us. The freedom to chase our individual dreams through our sweat, toil, and imagination – and the imperative to strive together as well, to achieve a greater good.

For 240 years, our nation’s call to citizenship has given work and purpose to each new generation. It’s what led patriots to choose republic over tyranny, pioneers to trek west, slaves to brave that makeshift railroad to freedom. It’s what pulled immigrants and refugees across oceans and the Rio Grande, pushed women to reach for the ballot, powered workers to organize. It’s why GIs gave their lives at Omaha Beach and Iwo Jima; Iraq and Afghanistan – and why men and women from Selma to Stonewall were prepared to give theirs as well.

So that’s what we mean when we say America is exceptional. Not that our nation has been flawless from the start, but that we have shown the capacity to change, and make life better for those who follow.

Yes, our progress has been uneven. The work of democracy has always been hard, contentious and sometimes bloody. For every two steps forward, it often feels we take one step back. But the long sweep of America has been defined by forward motion, a constant widening of our founding creed to embrace all, and not just some.

If I had told you eight years ago that America would reverse a great recession, reboot our auto industry, and unleash the longest stretch of job creation in our history…if I had told you that we would open up a new chapter with the Cuban people, shut down Iran’s nuclear weapons program without firing a shot, and take out the mastermind of 9/11…if I had told you that we would win marriage equality, and secure the right to health insurance for another 20 million of our fellow citizens – you might have said our sights were set a little too high.

But that’s what we did. That’s what you did. You were the change. You answered people’s hopes, and because of you, by almost every measure, America is a better, stronger place than it was when we started.

In ten days, the world will witness a hallmark of our democracy: the peaceful transfer of power from one freely-elected president to the next. I committed to President-Elect Trump that my administration would ensure the smoothest possible transition, just as President Bush did for me. Because it’s up to all of us to make sure our government can help us meet the many challenges we still face.

We have what we need to do so. After all, we remain the wealthiest, most powerful, and most respected nation on Earth. Our youth and drive, our diversity and openness, our boundless capacity for risk and reinvention mean that the future should be ours.

But that potential will be realized only if our democracy works. Only if our politics reflects the decency of the our people. Only if all of us, regardless of our party affiliation or particular interest, help restore the sense of common purpose that we so badly need right now.

That’s what I want to focus on tonight – the state of our democracy.

Understand, democracy does not require uniformity. Our founders quarreled and compromised, and expected us to do the same. But they knew that democracy does require a basic sense of solidarity – the idea that for all our outward differences, we are all in this together; that we rise or fall as one.

There have been moments throughout our history that threatened to rupture that solidarity. The beginning of this century has been one of those times. A shrinking world, growing inequality; demographic change and the specter of terrorism – these forces haven’t just tested our security and prosperity, but our democracy as well. And how we meet these challenges to our democracy will determine our ability to educate our kids, and create good jobs, and protect our homeland.

In other words, it will determine our future.

Our democracy won’t work without a sense that everyone has economic opportunity. Today, the economy is growing again; wages, incomes, home values, and retirement accounts are rising again; poverty is falling again. The wealthy are paying a fairer share of taxes even as the stock market shatters records. The unemployment rate is near a ten-year low. The uninsured rate has never, ever been lower. Health care costs are rising at the slowest rate in fifty years. And if anyone can put together a plan that is demonstrably better than the improvements we’ve made to our health care system – that covers as many people at less cost – I will publicly support it.

That, after all, is why we serve – to make people’s lives better, not worse.

But for all the real progress we’ve made, we know it’s not enough. Our economy doesn’t work as well or grow as fast when a few prosper at the expense of a growing middle class. But stark inequality is also corrosive to our democratic principles. While the top one percent has amassed a bigger share of wealth and income, too many families, in inner cities and rural counties, have been left behind – the laid-off factory worker; the waitress and health care worker who struggle to pay the bills – convinced that the game is fixed against

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