You have the power to remind us all that human dignity is not just a universal aspiration, but a human right. - Barack Obama

In the end, that's what this election is about. Do we participate in a politics of cynicism or a politics of hope?

Throughout human history, societies have grappled with fundamental questions of how to organize themselves, the proper relationship between the individual and the state, the best means to resolve inevitable conflicts between states. And it was here in Europe, through centuries of struggle -- through war and Enlightenment, repression and revolution -- that a particular set of ideals began to emerge: The belief that through conscience and free will, each of us has the right to live as we choose. The belief that power is derived from the consent of the governed, and that laws and institutions should be established to protect that understanding. And those ideas eventually inspired a band of colonialists across an ocean, and they wrote them into the founding documents that still guide America today, including the simple truth that all men -- and women -- are created equal. But those ideals have also been tested -- here in Europe and around the world. Those ideals have often been threatened by an older, more traditional view of power. This alternative vision argues that ordinary men and women are too small-minded to govern their own affairs, that order and progress can only come when individuals surrender their rights to an all-powerful sovereign. Often, this alternative vision roots itself in the notion that by virtue of race or faith or ethnicity, some are inherently superior to others, and that individual identity must be defined by “us” versus “them,” or that national greatness must flow not by what a people stand for, but by what they are against. In many ways, the history of Europe in the 20th century represented the ongoing clash of these two sets of ideas, both within nations and among nations. The advance of industry and technology outpaced our ability to resolve our differences peacefully, and even among the most civilized of societies, on the surface we saw a descent into barbarism.

The fact that we are here today to debate raising America's debt limit is a sign of leadership failure. Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better.