Obama to outline new economic recovery plan
That President Obama's first address to a joint session of Congress Tuesday night will deal with the nation's economic problems is not front page news (or, more appropriately, top of the website news). However, that the young president will outline how his administration will get the U.S. economy moving again and also attempt to cut the deficit in half during his first term, will be.
Investors should pay close attention to any clues President Obama will provide regarding the U.S. Treasury's stress test for banks and its toxic asset removal plan. The Treasury is expected to announce additional program details Wednesday and it's not unusual for the nation's highest elected official -- who also serves as de facto chief manager of the economy -- to at least preview program details that Treasury Secretary Tim Geithner will announce on Wednesday.