Farrakhan speaks race and politics in Chicago

Nation of Islam Minister Louis Farrakhan says the nation is on the decline and debt is largely to blame.

The leader spoke Sunday before thousands of followers at Chicago's United Center.

Farrakhan says that Nation of Islam members have to look to their own lives for true reform and can't expect truth from political leaders.

The Sunday speech caps the Chicago-based movement's annual Saviours' Day convention, which commemorates the birth of religion's founder. The title of Farrakhan's speech is “What Will 2012 Bring to America, the World and Black and Oppressed People.”

Farrakhan claims President Barack Obama has faced more insults than any other president and much of it stems from race. The Nation of Islam has preached black nationalism and self-reliance since it was founded in the 1930s.