Nightly News   |  January 24, 2012

SOTU speech takes populist approach

President Barack Obama’s annual address will highlight a minimum tax for multi-millionaires. NBC’s Chuck Todd, ‘Meet the Press’ moderator David Gregory, and NBC’s Kelly O’Donnell report.

Share This:

This content comes from Closed Captioning that was broadcast along with this program.

>>> now to the high-stakes speech the president has to give tonight. the annual state of the union address . this year, of course, an election year, our political director, chief white house correspondent chuck todd has more tonight from the white house . and chuck, this is supposed to be a pretty lofty occasion. but let me ask it this way. how does what has been happening on the republican campaign trail, almost one a day we' been seeing, how does that affect the tone, tenor and content of tonight?

>> what's interesting about this speech and everything we've learned about it is that there's a little bit of a tone. you're going to here a populist president obama deliver a populist state of the union . aides tell me it's not necessarily a campaign speech, but it's certainly a setting of the political agenda . here's one excerpt. i will oppose any effort to return to the very same policies that brought on this economic crisis in the first place. no, we will not go back to an economy weakened by outsourcing, bad debt and phony financial profits. tonight, i want to speak about how we move forward and lay out a blueprint for an economy that's built to last, an economy built on american manufacturing, american energy, skills for the american workers and a renewal of american values . perhaps, brian tonight the most interesting thing is the president is going to lay out the idea of the buffet rule -- a minimum tax for multi multimillionaires. it may actually double what mitt romney actually paid in taxes. that's going to be interesting fireworks.

>> all right, warren buffett , the famous businessman whose secretary is supposed to be in the gallery tonight as a guest of the first lady. chuck todd at the white house , thanks.