In his third State of the Union address, President Obama delivered a speech Tuesday night introducing a number of new initiatives, declaring “America is back!” and proclaiming that the world is experiencing a rebirth of U.S. leadership.

He began by noting that the last of U.S. combat troops have now returned from Iraq and the nation is “safer and more respected around the world.” Obama then transitioned to the economy, outlining steps he believes are essential to improve a weak economy that is showing signs of sluggish recovery after the worst economic slump since the Great Depression.

“In the last 22 months, businesses have created more than three million jobs,” he noted. “Last year, they created the most jobs since 2005. American manufacturers are hiring again, creating jobs for the first time since the late 1990s. Together, we’ve agreed to cut the deficit by more than $2 trillion. And we’ve put in place new rules to hold Wall Street accountable, so a crisis like that never happens again.

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