I watched his whole speech, and it disgusted me. Especially the obvious nod to gun-control. Basically, his position is that the 2nd amendment protects hunters and sportsman, but that someone who lives in the inner-city has no right to possess an AK-47 for home defense.
Too bad I didn't even start carrying a gun until I lived in the city (granted, that city was London, and I couldn't carry until I came back home). Gun control works least of all in the inner city, and short-sighted prohibitionists like Obama have a lot of blood on their hands.