than a system of free enterprise that unleashes the full potential of individual men and women.
She said: "I always thought he would be useful but I had no idea he would be president."
Icebreaker over, he used the speech on the second day of his official visit to reaffirm the relationship between the US and Britain.
He told politicians Britain and America had reached a 'pivotal moment' and insisted 'the time for our leadership is now'.
"Our relationship is special because of values and beliefs that have united our people through the ages."
The president and prime minister served up burgers to guests including British servicemen and women, and US military personnel based in Britain.
Among the audience were David Cameron and predecessors Gordon Brown, Tony Blair and Sir John Major.
Referring to the economist, Adam Smith, he said: "Adam Smith's central insight remains true today: there is no greater generator of wealth and innovation Nike Air Max Auckland Nz
The president received a minute long standing ovation following the address.
If you feel we have made an error in a report, or have fallen below our usual high standards, please write Air Max Ultra Moire Navy
"That is what led to the industrial revolution that began in the factories of Manchester."
attention instead to the inlaid marble fireplace in his office, a masterpiece by the Italian Pietro Bossi. Who, when it was first installed, bought that fireplace? A former king, or queen of England, when all of Ireland was a part of the British Empire? Or a present day 'bossi' of the Republic Of Ireland?
Mr Obama was the first US president to be granted the rare honour of addressing both houses of Parliament.
"I have known few greater honours than the opportunity to address the mother of parliaments at Westminster Hall," he said. "I am told that the last three speakers here have been the Pope, Her Majesty the Queen, and Nelson Mandela which is either a very high bar or the beginning of a very funny joke."
He said: "The reason for this close friendship doesn't just have to do with our shared history, our shared heritage, our ties of language and culture, or even the strong partnership between our governments.
checks Manchester and Alan Turing in historic speech to both houses of Parliament
Mr Obama also hailed another Manchester great the 'father of computing' Alan Turing.
He said: "From Newton and Darwin, to Edison and Einstein, from Alan Turing to Steve Jobs, we have led the world in our commitment to science and cutting edge research."
In Dublin this week, the Queen Of England sat under an oil portrait of Michael Collins who, before getting shot himself by a rival Irish firing squad, organised the killings of 14 agents of her grandfather, George V. This was in the company of her host, the Irish republic's present Taoiseach, Enda Kenny. She looked at the portrait, without comment. Diplomatically, Mr Kenny forbore from mentioning its subject, a chief of 1920s' IRA intelligence, directing her Air Max 95 White Womens
She told pupils she worried that she would not fit in at university because she did not come from a privileged background.
in the first instance to: Rob Irvine, editor, Manchester Evening News, Mitchell Henry House, Hollinwood Avenue, Chadderton, Oldham OL9 8EP.
The president spoke about military campaigns in Afghanistan and Iraq and the Middle East situation. He also used a joint press conference with Mr Cameron to call on Libyan leader Muammar Gaddafi to step down.
He said:"Even as more nations take on the responsibilities of global leadership, our alliance will remain indispensable to the goal of a century which is more peaceful, more prosperous and more just."
Earlier in the day he had enjoyed a barbecue at Number 10 with Mr Cameron.
Mrs Air Max Air Max Day Obama took part in a question and answer session in the college's dining room famously the setting for Hogwarts Great Hall in the Harry Potter films and talked about the work ethic that first attracted her to her husband.
Meanwhile, America's First Lady, Michelle Obama, met girls from Elizabeth Garrett Anderson school at Oxford University's Christ Church college.
Mrs Obama, who grew up in the south side of Chicago, attended state schools in the city. She told the girls: "I realised if I worked hard enough, I could do just as well as anyone."
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