Here is Obama's September 12 speech as aired by Fox:

"Yesterday, four of these extraordinary Americans were killed in an attack on our diplomatic post in Benghazi .... We reject all efforts to denigrate the religious beliefs of others .... Of course, yesterday was already a painful day for our nation as we marked the solemn memory of the 9/11 attacks .... No acts of terror will ever shake the resolve of this great nation."

Wallace claimed that Fox excised portions of the speech "to show that there was quite a gap between various things that he was discussing."

But what Fox edited out of the tape is critical to understanding that Obama was very clearly discussing the Consulate attack when he said that "no acts of terror will ever shake the resolve of this great nation." In fact, the very next sentence in Obama's speech discussed the victims of the Consulate attack, which he called "this terrible act."

This is what Obama actually said, with the portion aired by Wallace in bold:

["Yesterday, four of these extraordinary Americans were killed in an attack on our diplomatic post in Benghazi.  Among those killed was our Ambassador, Chris Stevens, as well as Foreign Service Officer Sean Smith.  We are still notifying the families of the others who were killed.  And today, the American people stand united in holding the families of the four Americans in our thoughts and in our prayers.

"The United States condemns in the strongest terms this outrageous and shocking attack.  We're working with the government of Libya to secure our diplomats.  I've also directed my administration to increase our security at diplomatic posts around the world.  And make no mistake, we will work with the Libyan government to bring to justice the killers who attacked our people.

"Since our founding, the United States has been a nation that respects all faiths.  We reject all efforts to denigrate the religious beliefs of others.  But there is absolutely no justification to this type of senseless violence.  None.  The world must stand together to unequivocally reject these brutal acts.

"Already, many Libyans have joined us in doing so, and this attack will not break the bonds between the United States and Libya.  Libyan security personnel fought back against the attackers alongside Americans.  Libyans helped some of our diplomats find safety, and they carried Ambassador Stevens’s body to the hospital, where we tragically learned that he had died.

"It's especially tragic that Chris Stevens died in Benghazi because it is a city that he helped to save.  At the height of the Libyan revolution, Chris led our diplomatic post in Benghazi.  With characteristic skill, courage, and resolve, he built partnerships with Libyan revolutionaries, and helped them as they planned to build a new Libya.  When the Qaddafi regime came to an end, Chris was there to serve as our ambassador to the new Libya, and he worked tirelessly to support this young democracy, and I think both Secretary Clinton and I relied deeply on his knowledge of the situation on the ground there.  He was a role model to all who worked with him and to the young diplomats who aspire to walk in his footsteps.

"Along with his colleagues, Chris died in a country that is still striving to emerge from the recent experience of war. Today, the loss of these four Americans is fresh, but our memories of them linger on.  I have no doubt that their legacy will live on through the work that they did far from our shores and in the hearts of those who love them back home.]

"Of course, yesterday was already a painful day for our nation as we marked the solemn memory of the 9/11 attacks.  We mourned with the families who were lost on that day.  I visited the graves of troops who made the ultimate sacrifice in Iraq and Afghanistan at the hallowed grounds of Arlington Cemetery, and had the opportunity to say thank you and visit some of our wounded warriors at Walter Reed.  And then last night, we learned the news of this attack in Benghazi. 

"As Americans, let us never, ever forget that our freedom is only sustained because there are people who are willing to fight for it, to stand up for it, and in some cases, lay down their lives for it.  Our country is only as strong as the character of our people and the service of those both civilian and military who represent us around the globe.

"No acts of terror will ever shake the resolve of this great nation, alter that character, or eclipse the light of the values that we stand for.  Today we mourn four more Americans who represent the very best of the United States of America.  We will not waver in our commitment to see that justice is done for this terrible act.  And make no mistake, justice will be done."

Click here for a full transcript of President Obama's Sept. 12, 2012 Rose Garden speech, and here for a video of the full speech.