President Obama will deliver a major speech on the economy shortly after Labor Day, White House officials tell ABC News.
The president will propose a package to help boost the economy and to reduce the deficit. The speech will detail new ideas, an official said, "a series of meaningful new jobs and growth initiatives."
The White House leaked word of the speech on the last day of the president's three-state, three-day bus tour of the Midwest and one day before he heads to Martha's Vineyard for 10 days of R&R with his family.
Republicans on the campaign trail this week have been attacking the president's economic record with a renewed zeal. This week, Mr. Obama's approval ratings sank below 40 percent for the first time in his presidency, according to the Gallup daily tracking poll.
The president told CNN's Wolf Blitzer yesterday, "we're going to take one more run at Congress, and we're going to say to them, ‘Look, here is a comprehensive approach that gets our debt and deficits under control and also accelerates job growth right now.’"
He said that there are "some immediate things we can do around infrastructure, tax policy, that would make a difference in terms of people hiring right now.”
The president will continue to push ideas he's been laying out for days and weeks: a payroll tax cut, an infrastructure bank, patent reform, the passage of three trade deals, tax credits to encourage the hiring of veterans.
The speech will also include ways to reduce the deficit and to pay for the new programs, officials said.
News of the speech was first reported by Ben Feller of the Associated Press.
UPDATE: A Republican official provides this list of headlines for some historical context, pivot-wise.
President-elect Barack Obama to deliver major speech on the economy on Thursday (change.gov, January 8, 2009)
President Barack Obama to Give Major Speech on the Economy at Georgetown University (Whitehouse.gov, April 13, 2009)
Obama to give major speech about economy on Monday (AFP, November 9, 2009)
Obama To Promote New Job Ideas During Tuesday Speech (AP, December 5, 2009)
Obama preparing new push to add jobs, tackle deficit (WaPo, December 8, 2009)
In key speech Obama pledges to create jobs (AP, January 27, 2010)
Obama to tout job-creating efforts in Ohio speech (AP, January 5, 2010)