Get All Access for $5/mo

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

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.

Business News

The Most Downloaded News App in the U.S. May Have Published Dozens of Fake, AI-Written Stories

The stories were fake but had real-world consequences for the app's 50 million monthly users.

Business News

Is One Company to Blame for Soaring Rental Prices in the U.S.?

The FBI recently raided a major corporate landlord while investigating a rent price-fixing scheme. Here's what we know.

Starting a Business

This Serial Entrepreneur Sells 'Anti-Bitch Serum' That Keeps Customers Coming in 'All Day Long': 'I'm Like the Magic Eight Ball'

Jeni Castro, founder of Coffee Dose, explains how she brewed up a truly unique brand of coffee cafes.

Side Hustle

This Former Starbucks Employee Started a Side Hustle That's Making More Than $70,000 a Month — and He's Not Done Yet

When Tom Saar moved to New York City, he spotted a lucrative business opportunity.

Marketing

How to Ensure Your B2B Marketing Messages Resonate With Your Audience

Discover strategies to overcome the "curse of knowledge" and find the ideal writing partner in the dynamic world of B2B communication. From simplifying technical jargon to fostering strong relationships, this article equips leaders with the tools to craft compelling messages that drive business success.

Career

Gen Z is Losing Faith In the College Degree — Here's 3 Reasons Why It's Still Important For Them

A college degree may not be essential for success but here are three crucial reasons you should encourage your Gen Z kids to still get one.