"I am honored and thrilled," Obama opened to applause. "I could stay here all afternoon."

"I'm particularly glad to be here on a week that commemorates some of the great strides our nation has made towards equality and justice," she said. "It's been five years since Lawrence v. Texas and 39 years since Stonewall, but still, we've got work to do before we achieve equality in the LGBT community. And although we know that we've got a lot of work to do, this week we're going to celebrate how far we've come, and how deep our shared capacity is to break through any barriers that stand in our way to the progress of this nation."

The entire 15-minute speech is available to view below.

Rep. Frank, despite the widely held belief that there was a "homosexual agenda" among the politically active, lamented that he had entered office without one. "What's our agenda? We want to join the Army, get married and get a job," he quipped. Senator McCain, he added, is no better from an LGBT standpoint than former Pennsylvania Senator Rick Santorum. Electing Democratic Senator Obama instead, he said, in addition to seating more Democrats in the House and Senate, would give the LGBT community the political clout to "do anything we have to do."

The "agenda," Frank said, should follow the formula of "What would Jesus do?" changed to "What would Dick Cheney do? ...Then do the opposite."

"I truly view this convention as the opportunity to transfer hope into action," Rep. Baldwin said. "We all come here to this convention having supported, in many cases, many candidates in the primary, but we come here filled with hope."

"Every young gay person who's running for office knows the story of Barney Frank and Tammy Baldwin," said Jared Polis, this month's primary winner in Colorado's Congressional District 2. Polis, whose first work in politics was at age 13 for the Dukakis campaign, has been embraced by his prospective colleagues. He hailed the attendees for their work in opening doors for people like him who grew up afraid that their sexual orientation would prevent them from working in politics. "These barriers," he said, "are continually falling thanks to your hard work."

Other speakers included Gay & Lesbian Victory Fund President and CEO Chuck Wolfe, HRC President Joe Solmonese and Denise Simmons, the nation's first black, openly lesbian city mayor, hailing from Cambridge, Massachusetts.

Mrs. Obama's Monday night speech is embedded below: