📺 Stream EntrepreneurTV for Free 📺

Obama: American 'Initiative and Enterprise' Are Key to Future In President Obama's second inaugural address, he praised a national character of "hard work and personal responsibility."

By Brian Patrick Eha

entrepreneur daily

Opinions expressed by Entrepreneur contributors are their own.

In a speech built around the Declaration of Independence, there was, despite little mention of independent business owners, an affirmation of America's need to innovate in a global economy and to invest in young people as the nation's future. Today, in his second inaugural address, President Barack Obama told a crowd of many thousands that American enterprise flourishes in a just society.

Four years ago, in Obama's first inaugural address, he praised entrepreneurial effort, saying "it has been the risk-takers, the doers, the makers of things ... who have carried us up the long, rugged path towards prosperity and freedom."

Today's speech emphasized instead the need for a social safety net as a ground for business activity. Programs such as Medicare, Medicaid and Social Security, he said, "do not make us a nation of takers; they free us to take the risks that make this country great."

Obama did, however, single out for celebration an American work ethic of "initiative and enterprise" involving "hard work and personal responsibility."

"We [have not] succumbed to the fiction that all society's ills can be cured through government alone," he said. He enumerated the qualities that make America fit to thrive in a globalized world: "youth and drive; diversity and openness; an endless capacity for risk and a gift for reinvention."

The president devoted the lion's share of his speech to his vision for a society in which equality and security are paramount, in which children are "always safe from harm." He also spoke out strongly against climate change and in favor of gay rights, two issues which did not receive much air time during his recent campaign.

Speaking as if to critics, Obama admitted that Americans "must make the hard choices to reduce the cost of healthcare and the size of our deficit," while denying that such action would require sacrifices either for older generations or for the young. He also suggested revamping the tax code.

The enduring purpose of his presidency, he said, is "a nation that rewards the effort and determination of every single American."

Brian Patrick Eha is a freelance journalist and former assistant editor at Entrepreneur.com. He is writing a book about the global phenomenon of Bitcoin for Portfolio, an imprint of Penguin Random House. It will be published in 2015.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Editor's Pick

Franchise

Franchising Is Not For Everyone. Explore These Lucrative Alternatives to Expand Your Business.

Not every business can be franchised, nor should it. While franchising can be the right growth vehicle for someone with an established brand and proven concept that's ripe for growth, there are other options available for business owners.

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

Business News

Passengers Are Now Entitled to a Full Cash Refund for Canceled Flights, 'Significant' Delays

The U.S. Department of Transportation announced new rules for commercial passengers on Wednesday.

Leadership

Why Companies Should Prioritize Emotional Intelligence Training Alongside AI Implementation

Emotional intelligence is just as important as artificial intelligence, and we need it now more than ever.

Business News

Elon Musk Tells Investors Cheaper Tesla Electric Cars Should Arrive Ahead of Schedule

On an earnings call, Musk told shareholders that Tesla could start producing new, affordable electric cars earlier than expected.