Barack Obama delivered a sobering assessment of where America stands and a hopeful vision of what it can become during his inaugural address as the nation's 44th president.
"Today I say to you that the challenges we face are real. They are serious and they are many. They will not be met easily or in a short span of time," Obama told those gathered on the National Mall -- a crowd estimated at about 2 million -- and millions more watching on television and the Internet.
"But know this, America -- they will be met," he said.
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