Each president recites the following oath, in accordance with Article II, Section I of the U.S. Constitution:
Presidential Oaths of Office
"I do solemnly swear (or affirm) that I will faithfully execute the office of President of the United States, and will to the best of my ability, preserve, protect and defend the Constitution of the United States."
Transcript of President Barack Obama's inauguration oath:
Roberts: I Barack Hussein Obama
Obama: I Barack Hussein Obama
Roberts (crosstalk): do solemly swear
Obama: I Barack Hussein Obama do solemly swear
Roberts: that I will execute the office of President to the United States faithfully
Obama: that I will execute
Obama then nods head at Roberts indicating him to restate the oath correctly.
Roberts: the off... faithfully... the pres... the office of President of the United States
Obama: the office of President of the United States faithfully
Roberts: and will to the best of my ability
Obama: and will to the best of my ability
Roberts: preserve, protect and defend the Constitution of the United States
Obama: preserve, protect and defend the Constitution of the United States
Roberts: So help you God?
Obama: So help me God.
Roberts: Congratulations Mr. President.
See also: Barack and Roberts Bungle the Oath, Obama’s First You Tube Moment as President
UPDATE 1/21/09:
Obama retakes oath of office after Roberts' mistake.