Mohamed A. El-Erian: The Promise of Obama's 2013 State of the Union

President Obama delivered a powerful State of the Union speech. Conveyed with passion and emotion, it will be remembered for many things. The speech's longer term impact will also depend on whether the economic messages, including the urgency of growing America from the middle out, resonate loudly and durably both inside and outside Washington, DC. Trained as an economist, I sat down to listen to the speech with expectations and hope. I came away cautiously optimistic that, given proper follow-up, its content could do more than just nudge Congress towards more constructive economic behaviors. The speech was refreshing, contained new ideas and avoided bitter partisanship. In the process, it encouraged all Americans to ensure that Congress does not keep on hitting the snooze button. Let me explain why using four different personal perspectives.