NPR News

As the president delivered the final State of the Union address of his term before a looming re-election battle, he looked out at a sea of angry and skeptical Republicans who had fought him on budgets, government shutdowns, and whether or not to raise the nation's debt ceiling.

And what did President Bill Clinton do in 1996?

He delivered his "the era of big government is over" speech, which The Washington Post summed up this way: "Clinton Embraced GOP Themes in Setting Agenda."

The company earned $13.1 billion in the quarter ended Dec. 31, a record. Sales of iPads were also up — soaring 111 percent from the same quarter a year earlier.

The Federal Reserve will announce on Wednesday what officials expect to do with the rates it controls for next couple of years. The Fed will join central banks in Sweden, Norway and New Zealand in relaying information about expectations for short-term interest rates. Renee Montagne talks to David Wessel of The Wall Street Journal about why the Fed is doing this, and the impact it will have.

Transcript

STEVE INSKEEP, HOST:

It's MORNING EDITION from NPR News. I'm Steve Inskeep.

RENEE MONTAGNE, HOST:

And I'm Renee Montagne.

President Obama wants to see more tax breaks for manufacturers and fewer tax breaks for millionaires. Those were among the ideas floated in the president's third State of the Union speech last night. Throughout the morning, we're getting reaction to that address.

Vancouver, Canada, is laying claim to the most expensive hot dog in the world. Chef Dougie Luv of DougieDog Hot Dogs starts serving his $100 Dragon Dog Wednesday. The hot dog features a foot-long bratwurst which is infused with 100-year-old Louis XIII cognac. That cognac costs more than $2,000 a bottle.