WHAT IT IS

U.S. PRESIDENT George W. Bush's State of the Union addresses offer glimpses of the ups and downs of his presidency, of the times he got his way and the times his hopeful oratory was just that.

Tonight, he will give the nationally televised annual policy speech for the last time as he winds down his term, with his successor set to be chosen in November elections.

WHY IT MATTERS

Amid fears of a new recession, Mr Bush will be delivering his speech days after the White House and congressional leaders agreed on a multibillion-dollar proposal to revive an economy strained by a housing slump, a credit crisis and high energy prices.

Hence, it is expected that his address would focus on economic issues, including his desire to keep intact the tax cuts that he got through the Republican-controlled Congress early in the decade and which are due to expire in the next few years.

This will also be a week when the US$150 billion (S$214 billion) economic stimulus package agreed upon last week will come up for discussion and the Senate could potentially bring the Bill to the floor on Thursday.

Several powerful Senate Democrats have said that they want to add components to the plan, including an extension of unemployment benefits and possibly a provision to increase the number of elderly Americans eligible to receive one-time payments of US$300, but the new timetable suggests they would have to move rapidly to do so.

ASSOCIATED PRESS, NEW YORK TIMES