This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Obama's Big Speech: Economy in Focus for State of the Union

"I am prepared, eager and anxious to do a big deal, a big package that ends this governance by crisis where every two weeks or every two months or every six months we are threatening this hard-won recovery," he said last week.

The economy has rebounded significantly from the depths of the recession and has taken a back seat for Obama since he won re-election in November. He's instead focused on campaigns to overhaul the nation's patchwork immigration laws and enact stricter gun control measures following the massacre of 20 schoolchildren in Newtown, Conn., in December.

The president also raised expectations for action this year on climate change after devoting a significant amount of time to the issue in his address at the inauguration.

But the unemployment rate is persistently high at 7.9%, economic growth slowed last quarter and consumer confidence is falling, so the economy could upend Obama's plans to pursue a broader domestic agenda in his final four years in office.

Tony Fratto, who worked in the White House during President George W. Bush's second term, said Obama has to show the public that he's still focused on the economy before he can get their full support for his other proposals.

"We're not in a position where he can blame anybody else for the economy now," Fratto said, "Now it's his economy."

Obama is expected to use his address to press lawmakers to back his immigration overhaul, which includes a pathway to citizenship for 11 million illegal immigrants, and his gun control proposals, including universal background checks and a ban on assault weapons.

Voting rights groups expect the president to call for changes that would make it easier for people to vote.

"I think it's important to be able to do more than one thing at a time," said David Axelrod, who served as senior adviser in the White House and Obama's re-election campaign. "But the economy is an ongoing and significant challenge that you have to keep working on."

2 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
AAPL $121.30 -0.87%
FB $94.01 -1.26%
GOOG $625.61 -1.10%
TSLA $266.15 -0.24%
YHOO $36.67 -2.00%

Markets

Chart of I:DJI
DOW 17,689.86 -56.12 -0.32%
S&P 500 2,103.84 -4.79 -0.23%
NASDAQ 5,128.2810 -0.5040 -0.01%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs