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U.S. President Barack Obama delivered a live national address on the Iraq war on Tuesday night, August 31, 2010 to mark the day the American combat role in Iraq formally comes to an end.

Here are excerpts of the Obama speech from the White House Oval Office in Washington, D.C."From this desk, seven and a half years ago, President Bush announced the beginning of military operations in Iraq. Much has changed since that night. A war to disarm a state became a fight against an insurgency. Terrorism and sectarian warfare threatened to tear Iraq apart. Thousands of Americans gave their lives; tens of thousands have been wounded. Our relations abroad were strained. Our unity at home was tested.

So tonight, I am announcing that the American combat mission in Iraq has ended. Operation Iraqi Freedom is over, and the Iraqi people now have lead responsibility for the security of their country.

This was my pledge to the American people as a candidate for this office. Last February, I announced a plan that would bring our combat brigades out of Iraq, while redoubling our efforts to strengthen Iraq’s Security Forces and support its government and people. That is what we have done. We have removed nearly 100,000 U.S. troops from Iraq.  We have closed or transferred hundreds of bases to the Iraqis. And we have moved millions of pieces of equipment out of Iraq.

This completes a transition to Iraqi responsibility for their own security. U.S. troops pulled out of Iraq’s cities last summer, and Iraqi forces have moved into the lead with considerable skill and commitment to their fellow citizens. Even as Iraq continues to suffer terrorist attacks, security incidents have been near the lowest on record since the war began. And Iraqi forces have taken the fight to al Qaeda, removing much of its leadership in Iraqi-led operations.

Ending this war is not only in Iraq’s interest– it is in our own. The United States has paid a huge price to put the future of Iraq in the hands of its people. We have sent our young men and women to make enormous sacrifices in Iraq, and spent vast resources abroad at a time of tight budgets at home. We have persevered because of a belief we share with the Iraqi people –a belief that out of the ashes of war, a new beginning could be born in this cradle of civilization. Through this remarkable chapter in the history of the United States and Iraq, we have met our responsibility. Now, it is time to turn the page."