"We have been in an extremely expensive cul-de-sac for the last 18 months as a result of a shambles of an SDSR and I can only congratulate you for bringing some sanity to it, " he told Mr Hammond in the Commons.

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General, four years and five months is an extraordinary sacrifice for both you and your family, and I can only imagine -- as a matter of fact, I know how joyous your homecoming is going to be and you richly deserve it.

WHITEHOUSE: Change of Command, End of Combat Operations Ceremony

Their shares are owned by a few and you and I have only the choice of paying for the product not owing a piece of it.

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And I want to thank you not only for the support that you provide me, but also for the service that you perform to keep our country safe each and every day.

WHITEHOUSE: Energy Security and Independence

And I just want to say thank you to her, not only for the introduction but also for teaching.

WHITEHOUSE: President Obama on the American Jobs Act in Jamestown, North Carolina | The White House

And, the only reason you or I accept the dollar in exchange for our hard work or goods is because we trust that someone else will accept it in turn.

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And the only other thing I'll say is, for those of you guys who missed the ball games -- (laughter) -- Florida got beat by Louisville, and Ohio State just beat Syracuse.

WHITEHOUSE: President Obama Speaks to Troops at Camp Bonifas

Obviously we can't bring back your friends that were lost, and I know that each and every one of you not only grieve for them, but have also over the last 10 years dealt with their family, their children, trying to give them comfort, trying to give them support.

WHITEHOUSE: President Obama Meets with Firefighters in New York

As you look at this, you may notice I used a one month spread and passed over weekly options and only went for a length of one month.

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They're fully committed up front, and that is both the source of their strength and ultimately, I think, the source of their weakness, because you can only orchestrate events for so long.

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Moderator: Doug, I want to thank you on the behalf of the council and everyone here for not only a very intelligent presentation, solid one, but for being very frank and open in your comments and answers to questions.

CENTERFORSECURITYPOLICY: Remarks to the Council on Foreign Relations