Obama to deliver status-check speech on economy

By JULIE PACE Associated Press Writer

WASHINGTON (AP) - President Barack Obama is delivering his latest assessment Wednesday on the nation's economic recovery.

The president is scheduled to speak at Carnegie Mellon University in Pittsburgh, where the White House says he will discuss the five pillars for a new economic foundation he laid out a year ago.

Those are: new rules for Wall Street; investments in education, renewable energy and health care; and reductions in federal spending to bring down budget deficits.

While the administration has made some of the investments the president called for through the economic stimulus and health care overhaul, Wall Street reform is still tied up in Congress. And the debt has increased on Obama's watch.