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...past, we too often defined our relationship with Pakistan narrowly. Those days are over. Moving forward, we are committed to a partnership with Pakistan that is built on a foundation of mutual interests, mutual respect and mutual trust. We will strengthen Pakistan's capacity to target those groups that threaten our countries, and have made it clear that we cannot tolerate a safe haven for terrorists whose location is known and whose intentions are clear. America is also providing substantial resources to support Pakistan's democracy and development. We are the largest international supporter for those Pakistanis displaced...

Author: /time Magazine | Title: Full Transcript of Obama's Speech | 12/1/2009 | See Source »

...Second, there are those who acknowledge that we cannot leave Afghanistan in its current state but suggest that we go forward with the troops that we have. But this would simply maintain a status quo in which we muddle through and permit a slow deterioration of conditions there. It would ultimately prove more costly and prolong our stay in Afghanistan, because we would never be able to generate the conditions needed to train Afghan security forces and give them the space to take over...

Author: /time Magazine | Title: Full Transcript of Obama's Speech | 12/1/2009 | See Source »

...told, by the time I took office, the cost of the wars in Iraq and Afghanistan approached a trillion dollars. Going forward, I am committed to addressing these costs openly and honestly. Our new approach in Afghanistan is likely to cost us roughly $30 billion for the military this year, and I will work closely with Congress to address these costs as we work to bring down our deficit...

Author: /time Magazine | Title: Full Transcript of Obama's Speech | 12/1/2009 | See Source »

...America, we are passing through a time of great trial. And the message that we send in the midst of these storms must be clear: that our cause is just, our resolve unwavering. We will go forward with the confidence that right makes might, and with the commitment to forge an America that is safer, a world that is more secure and a future that represents not the deepest of fears but the highest of hopes. Thank you, God bless you, God bless our troops and may God bless the United States of America...

Author: /time Magazine | Title: Full Transcript of Obama's Speech | 12/1/2009 | See Source »

...much of Dubai has been built on short-term loans, based on the idea that income from the projects would buoy liquidity and help roll forward debt payments. For example, Dubai's driverless metro system, one of the most advanced in the world, is financed through three-year notes, which the city-state believed they could renew as ticket fees helped pay the interest. Now, the international consortium that is building the system - including the Japanese construction giants Mitsubishi and Obayashi as well as the Turkish company Yapi Merkezi - are probably left with huge fees unpaid...

Author: /time Magazine | Title: Can the Banks Force Dubai into Foreclosure? | 12/1/2009 | See Source »

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