Barack Obama’s State of the Union address 2012 LIVE VIDEO

US President Barack Obama was greeted with applause Tuesday night at the 2012 State of the Union address at the nation's capitiol, making his way through a house full of lawmakers, military officers and supporters before reaching the podium.

"We can either settle for a country where a shrinking number of people do really well, while a growing number of Americans barely get by,” Obama is expected to say in his address, according to excerpts released by the White House. “Or we can restore an economy where everyone gets a fair shot, everyone does their fair share, and everyone plays by the same set of rules. What’s at stake are not Democratic values or Republican values, but American values. We have to reclaim them.”

Obama delivered the 2012 State of the Union during a time when Congress' approval ratings has reached a historic low and American's have become ever more politically polarized.

“The defining issue of our time is how to keep that promise alive. No challenge is more urgent. No debate is more important,” Obama will say.

Some more early excerpts provided by the White House:

"Think about the America within our reach: A country that leads the world in educating its people. An America that attracts a new generation of high-tech manufacturing and high-paying jobs. A future where we’re in control of our own energy, and our security and prosperity aren’t so tied to unstable parts of the world. An economy built to last, where hard work pays off, and responsibility is rewarded."

…

"As long as I'm President, I will work with anyone in this chamber to build on this momentum. But I intend to fight obstruction with action, and I will oppose any effort to return to the very same policies that brought on this economic crisis in the first place.
No, we will not go back to an economy weakened by outsourcing, bad debt, and phony financial profits. Tonight, I want to speak about how we move forward, and lay out a blueprint for an economy that’s built to last – an economy built on American manufacturing, American energy, skills for American workers, and a renewal of American values."

…

"Let's never forget: Millions of Americans who work hard and play by the rules every day deserve a government and a financial system that does the same. It's time to apply the same rules from top to bottom: No bailouts, no handouts, and no copouts. An America built to last insists on responsibility from everybody."

Check the live Twitter feed below on what people are saying on Twitter about the president's address.

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