U.S State of Union: “Middle-class Economics Works” – Obama

President Barack Obama on Tuesday made a feisty pitch for economic populism in his State of the Nation address.
In a speech which he described as more focused on values than policies, Mr Obama noted that America had turned a page after the worst recession since the Depression.
The President said he planned to build on this growth by providing working families with help in the form of sick and maternity leave and affordable childcare.

“Obama argued that a raft of new policy proposals — which include an ambitious plan to raise taxes on wealthy Americans and financial institutions to pay for progressive priorities — favor the middle class, and that “middle-class economics works.”
Addressing the Republican-led Congress, Obama said both parties should give him the trade authority as a way of protecting American workers, “with strong new trade deals from Asia to Europe that aren’t just free, but fair.”

Mr Obama’s speech included plans to build a competitive economy by improving America’s infrastructure and providing free access to community college
“This plan is your chance to graduate ready for a new economy, without a load of debt,” he said.
He called for cooperation, reprising the theme that there isn’t a “red America” or “blue America” from the 2004 Democratic National Convention speech that shot Obama into stardom.

He also flashed a renewed confidence, going off-script after touting the improving economy to say, “This is good news, people” — and followed it with a wink.
Taking top billing in Tuesday night’s speech was the tax-and-spend plan Obama has rolled out in recent days.

The benefits would largely go to students and young families: The child care tax credit would triple to $3,000; households in which both spouses work could qualify for a new $500 credit; and college students and those repaying loans could get breaks thanks to Obama’s plan to make two-year community college degrees free.

He urged Congress to give him trade promotion authority, the power to negotiate free trade deals. Democrats have opposed giving him the power, fearing the deals he makes will hurt American labour.