As Hackers cream off $1 trillion, Obama says America's economic prosperity in the 21st century will depend on cyber security

In one brazen act last year, thieves used stolen credit card information to steal millions of dollars from 130 ATMs machines in 49 cities around the world. And they did it in just 30 minutes. A single employee of an American company was convicted of stealing intellectual property reportedly worth $400 million.

It's been estimated that last year alone cyber criminals stole intellectual property from businesses worldwide worth up to $1 trillion. In short, America's economic prosperity in the 21st century will depend on cyber security. And this is also a matter of public safety and national security.

SHOOT: Yes it will. But computers don't run on fumes either. It will also depend first and foremost on energy security. That's the foundation. You can't have cyber security when the lights go off.

clipped from edition.cnn.com And we're bringing to government and to this White House unprecedented transparency and accountability, and new ways for Americans to participate in their democracy. But none of this progress would be possible, and none of these 21st century challenges can be fully met without America's digital infrastructure, the backbone that underpins a prosperous economy, and a strong military and an open and efficient government. Without that foundation, we can't get the job done. But make no mistake, this world cyber space is a world that we depend on every single day. It's our hardware and our software, our desk tops and laptops and cell phones and BlackBerrys that have become woven into every aspect of our lives. It's the broadband networks beneath us and the wireless signals around us. The local networks in our schools and hospitals and businesses and the massive grids that power our nation. It's the classified military and intelligence networks that keep us safe.