Obama Goes Alone: What Are the Consequences?

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Jan. 29 (Bloomberg) -- Bloomberg White House correspondent Julianna Goldman recaps the main topics of President Barack Obama’s State of the Union address on Bloomberg Television’s “Market Makers.”

And they don't like government officials more than bankers.

A huge positive for bankers.

Budget deficit, foreign conflicts, trade deficit.

Those are all things to a large degree within the control of congress, or in control of the white house, government in general.

What does that say about the future of the nation?

You saw it in the state of the union last night.

Some commentators have said that there is a little bit of reaching across the aisle on both sides.

Did you feel that?

I did not see a lot of that and we have not seen a lot of that in a long time.

I think investors register that when they talk about the budget deficit being at the top of the list of concerns.

There is an unease on the part of investors and americans more broadly with the levels of budget deficits and the concern of are we mortgaging our future, as a nation.

I want to bring in julianna goldman, white house correspondent.

It is a sense, down in d.c., what was the take away from the state of the union?

One of the things we saw from the president's speech are the limits -- is the limits of his time in office is on display.

He will go kicking and screaming before he is deemed a lame duck president.

He is going to try to work with congress where he can.

Where he can't, he is going to try to flex his political and presidential muscle to see what he can get via executive orders and convening power of the oval office.

He is on his way to cosco.

I am a proud member as well.

This is an example of a company that has acted on its own to raise the minimum wage.

He is pushing congress to raise the minimum wage to $10.10 an hour.

But that is really unlikely to happen.

The president is going and doing what he can, which is raising the minimum wage for federal contractors.

I had a question -- i heard feedback from commentators that fits into one of two buckets.

One, that the president specifically was trying not to strike as partisan a tone and was more up the in reaching -- and reaching across the isle of little bit, and then you heard some of the specific statements around, i will go it alone, i don't need the legislature to get things done which, by the way, is mostly not true.

The constitution sets it up where they will have to agree to get anything really significant them.

Which is it?

Was the administration trying to strike a note of compromise, or were they basically saying we are not going to get the republicans on board and we will do whatever we can without them?

What you usually see with this president is pretty nuanced, and a little bit of both.

When you look at immigration, that is a really interesting example where the president only spent about a paragraph of that whole hour and five minutes speech talking about immigration reform.

Because they didn't want to be too confrontational.

They don't want to jim that done republicans throats because they think there's actually room for compromise and they want to give john boehner the space to navigate the internal politics of the republican party.

There they saw, as an example, if they were to try to hammer republicans over immigration reform, that could doom chances of getting some sort of legislation before the end of this year.

To greg's point, the idea that the president and the white house is doing an end run around congress, reading some of the post state of the union,n commentary, it gives the republican party ammunition all the way through the money 14 -- november 2014 election, he is jumping -- dumping on the constitution.

Clearly the white house does not see a lot of risk in that rough he would not said what he said.

Clearly the white house knows the limits and he is not going to risk some sort of constitutional crisis.

I think when you talk to republicans they would private school -- privately acknowledge that as well.

It will be a talking point when it comes to environmental regulation, climate change, implementing the president's climate change initiative.

So i do think that is something you will hear from republicans.

You heard house speaker john boehner in the run-up to the state of the union saying, hey, there is something called the constitution.

But i don't think that is something -- it could end up being a distraction, but i don't think it will have the legs and that the white house will risk having this crisis of confidence in the constitution.

I appreciate that reminder.

This text has been automatically generated. It may not be 100% accurate.

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