Obama previews State of Union with comeback address: Can Americans take heart?

Laying the ground for Tuesdays State of the Union address, President Obama on Saturday previewed a likely theme: the depth and extent of what he called Americas economic comeback and how to keep it rolling.

The US economy's struggles have dogged Obamas tenure and could yet cloud his legacy, especially since Americas first African-American president oversaw an era where median black wealth has dropped by 34 percent, according to Pew. (White wealth has climbed nearly 3 percent under Obama.)

Republicans have alleged for years that progressive Democrats, led by the president, have throttled the economy by making it more difficult to do business in America. Entrepreneurship is down, they say, and millions of Americans have simply given up on work, which means the sinking unemployment numbers are skewed. Democrats point to the fact that the president inherited an economic malaise not of his making, taking office during the country's worst economic downturn since the Great Depression.

Both sides have good points, but the president on Saturday at least provided one snapshot of what most economists agree are hopeful indicators slowly pulling the country out of six years of economic torpor. Most significantly, the unemployment rate has dropped to 5.6 percent, putting the US close to what economists generally see as full employment, in essence what economists call an acceptable jobless rate that keeps inflation in check.

Our job now is to make sure that every American feels that theyre a part of our countrys comeback, Obama said in his weekly address from the White House. Thats what Ill focus on in my State of the Union how to build on our momentum, with rising wages, growing incomes, and a stronger middle class.

The brightening economic outlook puts Obama in a strong position for a first of his presidency: a State of the Union address where he faces Republican majorities in both houses of Congress.

In the Republican weekly address, Rep. Steve Russell of Oklahoma said the GOP plan addresses Americas economic woes more deeply.

Republicans will push to lift the burden on small business, and repeal Obamacares 30-hour work-week definition so we can get people working again full-time, he said. The GOP plan also would include creating the Keystone XL pipeline from Canada to the Gulf of Mexico, and forcing federal agencies to regulate with more honesty, thrift, and transparency.

We have the resources to transform our economy, the talents to work together to solve our problems, and the grit to lead in a dangerous world that looks to us for hope and stabilityan American beacon that still shines when others only provide a dim view of the future, Representative Russell said.

One in four Americans now say conditions in the economy are either excellent or good, up from 1 in 6 a year ago. And, according to a recent Pew survey, more Americans have more confidence in Obamas vision of the economy than the one put forth by Republicans.

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Obama previews State of Union with comeback address: Can Americans take heart?

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