Obama's speech on US economy: Decoded

In an interview to CNBC-TV18, Cary Leahey, Senior Adviser & Chief US Economist at Decision Economics talked about President Obama's speech. 

Further Leahey said that President Obama did talk about the need for middle class jobs but did not use the word stimulus package. However, the President did admit that healthcare is the biggest source of a longer term budgetary troubles. Obama to Republicans: Can we just move on? “There is tremendous pressure on any administration to open up sourcing of jobs because tech sector, well above the national average takes on overseas employees. I think he is in some sense fighting a way that he is not going to be able to stop. However, there is a considerable nervousness about losing jobs to overseas providers but net-net the US economy does better from insourcing than outsourcing. Outsourcing in some sense creates a gross domestic product (GDP) in economy,” he added.