US President Barack Obama on Friday morning officially accepted the Democratic Party’s presidential nomination, along with his running mate Vice President Joe Biden.

US President Barack Obama (Photo: Internet)

They will compete for a second term in November election with Republican’s ticket of Mitt Romney and Paul Ryan. Obama’s acceptance speech concluded the 2012 Democratic National Convention in Charlotte, North California. In his speech, Obama and Biden stressed that since they took the office in early 2009, they have dealt with the impacts of the most serious global crisis in 60 years, and said that although much remains to do, the US under his term has overcome the worst and is moving forward. The Democrats ticket’s policy in the next 4 years is to strengthen the US economy’s manufacturing and competitive capacity, encourage and favor companies that create jobs in the country or bring jobs from outside to the US. Obama said the overall goal is reviving the economy and consolidating its top position based on the internal capacity. The US President wants to change the tax laws to raise taxes from the big corporations and a minority of the rich, which will help to improve the government’s income and ensure social justice. In addition, small and medium-sized businesses will continue to be given priority support, as they are the backbone of the US economy and society. Obama committed to ensuring US security as top priority, building a strong defense force, strengthening relationships with coalitions and allies, and preventing the spread of nuclear weapons and the so-called “American values”.