From the official SOTU transcript:
Congress did not act last year on my proposal to save Social Security -- (applause) -- yet the rising cost of entitlements is a problem that is not going away. (Applause.)
Per Josh Marshall's request for video, it's at 35:07 in the C-SPAN footage (Real Player - if the link above doesn't work, click the link on the C-SPAN homepage).
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