In the News: President Barack Obama sought to reassure Americans in his State of the Nation address to Congress on Tuesday (February 24, 2009). While Obama was careful to include a sober assessment of the country's grim economic situation and his plans to fix it, he also made sure that recession-weary Americans knew to expect better days ahead.
"While our economy may be weakened and our confidence shaken, though we are living through difficult and uncertain times, tonight I want every American to know this: We will rebuild, we will recover," Obama, said in his televised speech to Congress, where Democrats control both chambers. "And the United States of America will emerge stronger than before," he said to the packed audience.
Doubtful Wall Street investors, who sent U.S. stocks to a 12-year low on Monday, rallied on Tuesday after Obama's speech. The Federal Reserve Chairman Ben Bernanke assured that the country's troubled banks should be able to weather the downturn without being nationalized.
Biography: Barack Hussein Obama was born Aug. 4, 1961, in Honolulu, Hawaii. His father, Barack Obama, Sr., was born of Luo ethnicity in Nyanza Province, Kenya. He grew up herding goats with his own father, who was a domestic servant to the British. Although reared among Muslims, Obama, Sr., became an atheist at some point.
Obama’s mother, Ann Dunham, grew up in Wichita, Kansas. Her father worked on oil rigs during the Depression. After the Japanese attack on Pearl Harbor, he signed up for service in World War II and marched across Europe in Patton’s army. Dunham’s mother went to work on a bomber assembly line. After the war, they studied on the G. I. Bill, bought a house through the Federal Housing Program, and moved to Hawaii.
Meantime, Barack’s father had won a scholarship that allowed him to leave Kenya pursue his dreams in Hawaii. At the time of his birth, Obama’s parents were students at the East–West Center of the University of Hawaii at Manoa.
Obama’s parents separated when he was two years old and later divorced. Obama’s father went to Harvard to pursue Ph. D. studies and then returned to Kenya.
His mother married Lolo Soetoro, another East–West Center student from Indonesia. In 1967, the family moved to Jakarta, where Obama’s half-sister Maya Soetoro–Ng was born. Obama attended schools in Jakarta, where classes were taught in the Indonesian language.
Four years later when Barack (commonly known throughout his early years as "Barry") was ten, he returned to Hawaii to live with his maternal grandparents, Madelyn and Stanley Dunham, and later his mother (who died of ovarian cancer in 1995).
He was enrolled in the fifth grade at the esteemed Punahou Academy, graduating with honors in 1979. He was only one of three black students at the school. This is where Obama first became conscious of racism and what it meant to be an African–American.
In his memoir, Obama described how he struggled to reconcile social perceptions of his multiracial heritage. He saw his biological father (who died in a 1982 car accident) only once (in 1971) after his parents divorced. And he admitted using alcohol, marijuana and cocaine during his teenage years.
After high school, Obama studied at Occidental College in Los Angeles for two years. He then transferred to Columbia University in New York, graduating in 1983 with a degree in political science.
After working at Business International Corporation (a company that provided international business information to corporate clients) and NYPIRG, Obama moved to Chicago in 1985. There, he worked as a community organizer with low-income residents in Chicago’s Roseland community and the Altgeld Gardens public housing development on the city’s South Side.