State of the Union Address 2012: Summary of Obama's Speech

President Obama delivered his 2012 State of the Union Address on Tuesday night, making a bid for 2012 reelection. In a sweeping speech, the President touched upon issues like taxes, the economy, manufacturing and keeping the American dream alive. Though the current State of the Union is quite shaky, Obama highlighted the progress being made and attempted to solidify a sturdy campaign base.

Here is a summary of Obama's 2012 State of the Union Address. If you would like to read the full transcript click here; or, if you would like to watch the broadcast, click here.

- The war in Iraq has ended with wild success, including the take-down of Osama bin Laden and other top al Qaeda members.

- We need to keep the promise of the American Dream alive -- the basic American promise that if you worked hard, you could do well enough to raise a family, own a home, send your kids to college, and put a little away for retirement.

- An economic blueprint consisting of: an economy built on American manufacturing, American energy, skills for American workers, and a renewal of American values.

- GM is back on top. Chrysler is flourishing; and Ford has invested billions in U.S. plants and factories.

- Manufacturing must be brought back to American shores. Businesses must plan ways to do this. This could start with eliminating tax breaks for going overseas and giving tax breaks to companies that keep jobs in the U.S.

- Open new markets for American products internationally.

- The Trade Enforcement Unit will investigate unfair trading practices in China. This will ensure that no foreign company will have an advantage over American companies.

- Educate and train more American citizens in a trade.

- Reward the nation's best teachers and extend the tuition tax credit for college students.

- Tackle illegal immigration. (*Obama has been recorded making the same statement over the past three years.)

- Congress must stop the stalwarts.

- Extend tax breaks to help small businesses grow.

- Continue providing grants to medicinal and technological research projects.

- Capitalize on America's natural gas -- which is enough to last America 100 years. Spur energy innovation with incentives like clean energy standards and elimination of energy waste.

- Pump money into local infrastructure.

- Americans can now refinance at historically low rates with savings of up to $3,000 a year.

- Financial Crimes Unit will crack down on large-scale fraud and protect investments so 2008 will never happen again.

- Everyone must pay their fair share, specifically millionaires who should be willing to abide by the Buffett Rule.

- Crack down on insider trading in Congress.

- Consolidate the bureaucracy so the government is leaner, quicker and more efficient in making changes.

- Prevent Iran from becoming a nuclear power.

- Create jobs for veterans.

- Work together in a bipartisan effort.

Obama concluded his speech with: Each time I look at that flag, I'm reminded that our destiny is stitched together like those 50 stars and those 13 stripes. No one built this country on their own. This nation is great because we built it together. This nation is great because we worked as a team.