President Obama reflected on his past eight years as commander-in-chief and looked toward the future in a farewell address from Chicago on Tuesday night.

He said that "by almost every measure", America is a better and stronger place than it was when he was elected in 2008.

If our Democracy is to work as it should, Obama said, Americans must put themselves in others' shoes to understand where their neighbors' beliefs come from.

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He said that America must forge "a new social compact" concentrating on the needs of students and union workers, and continue to pass laws that stifle discrimination.

"We cannot be complacent about our goals," he said.

Obama also said that during his term, no foreign terrorist group successfully executed an attack on the United States homeland.

Of Republican plans to repeal and replace the Affordable Care Act, one of the hallmarks of his term, Obama said that if a "demonstrably better" health care plan is offered, he will support it.

At one point, the enthusiastic crowd chanted "four more years", to which Obama remarked "I can't do that."

"The world will witness a hallmark of our democracy: The peaceful transfer of power from one freely-elected president to the next," he said of President-elect Donald Trump's upcoming inauguration.

Watch part of President Obama's speech above and let us know what you think in the comments.

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