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Rahm Emanuel in Iowa makes case for Obama re-election. Speech excerpts

WASHINGTON–Mayor Rahm Emanuel makes the case for President Obama’s re-election Saturday night at the Iowa Democratic Party’s Jefferson Jackson dinner. “We can’t cut our way to prosperity,” Emanuel will say, a swipe at the GOP 2012 rivals.

C-SPAN will carry Emanuel’s speech live at 8:30 p.m. EST

Emanuel is Obama’s former chief of staff who in May was sworn-in as Chicago’s mayor. This will be Emanuel’s first major address on behalf of his former boss.

Here are excerpts from Emanuel’s speech, provided by the Obama 2012 re-election campaign…..

The President did not make choices based on politics. He made them because of his principles. He did not make choices for the next election, he made them for the next generation.

President Obama never tailored what he believed to the moment.

In the next four years there will be more challenges and more crises that will determine the economic vitality of the middle class and the economic future of this country. Whose character, whose judgment, do you want in that office?

Over the next four years, there will be a series of choices. It won’t be clear what the outcome will be. We will need leadership; we will need values as guideposts.

To create true middle class security, we can’t just cut our way to prosperity. We must out-innovate, out-educate and out-build the world.

President Obama believes in an America where hard work pays off, where responsibility is rewarded. He believes in an America where everyone, from Main Street to Wall Street, does their fair share. He believes in an America where we don’t have two rule books, one for those at the top, and another set for everyone else. President Obama believes in the idea that our country prospers when we’re all in it together.