Axelrod: 'It's Not About Helping Bankers'

Feb. 24, 2009— -- Ahead of President Obama's speech to Congress, senior White House adviser David Axelrod told ABC News' Charlie Gibson the president's "single greatest concern" is to stay connected to the American people.

"I think the single greatest concern the president has in this office is not to become isolated from the American people. And that's why he has asked to read a sampling of letters every day from people," Axelrod said of the president's daily time devoted to reading letters from the public.

The president's senior adviser said Obama will use tonight's stage to speak to the American people about his economic vision and the path he is carving out for the nation.

"Fundamentally, this is a chance to speak to the American people, to be direct and open and blunt about where we are and where we need to go," Axelrod said. "...These are extraordinary times. The economic challenges we face are as great as any we've seen since World War II and the Depression. And people are concerned and they need to hear from the president."

In his month in office, Obama has had legislative success, passing a $787 billion economic stimulus package and $75 billion plan to help homeowners on the brink. Still, many Americans are deeply upset about what they consider the relative inability of the legislation to provide for those who have played by the rules.

"Most people in this country behave responsibly. They meet their obligations. They pay their loans. They do everything that they're asked. And they can't understand why Wall Street should get treated differently than they get treated," Axelrod said. "There is that anger. But this isn't about helping Wall Street. It's not about helping bankers. It's about restoring our economy."

When Gibson asked if the president's task tonight will be to connect on macroeconomic issues, the economy, and the plight of individuals looking for work and struggling to make mortgage payments, Axelrod agreed.

"I think one of the president's tasks tonight is to explain how all of this fits together and how what happens in one part of our economy impacts on what happens to individuals and businesses at -- all throughout the country," he said. "...The key is to convey the sense that there will be a better day, but to tell people the truth about what we're going to need to do to reach it."

President to Lay Out Economic Vision Tonight

Officials tell ABC News Obama will lay out his economic vision for the country in his address to Congress tonight in an attempt to strengthen public support.

"Sometimes in all of the banter about where we are in the economy, about banks and Wall Street and car companies and so on, we lose the fundamental impact this has on the American people," Axelrod said.

According to the results of a recent ABC News/Washington Post poll, 68 percent of Americans approve of Obama's performance in office. Some 64 percent support the president's $787 stimulus package, but among Republicans, only 32 percent approve.

When asked by Gibson if it was dangerous for the administration to take on a $787 billion spending package, bills to help banks and balancing the budget all at once, Axelrod said that the nation can't afford to ignore these challenges.

"We're faced with a crisis. We need to act," he said. "We talk about getting the budget under control. You can't get the budget under control unless you do health care reform that reduces the cost of health care..."

Axelrod conceded that the administration will have to prioritize to get everything done.

"There are many things that we'd like to do that we won't be able to do. And we're going to have to make some hard choices," Axelrod said of the president's agenda. "But we've deferred these big issues for a very long time and we're beginning to pay a price for all of them."