News Analysis: Can Obama bring U.S. out of crisis?

SEEKING FOR NEW WAYS TO TACKLE CRISIS

In the address, Obama stressed his "new economic policy."

He also acknowledged the daunting challenges facing the nation, including war, the recession, health care, home foreclosures, jobs, and energy among others. He said that the country was "in the midst of crisis is now well understood."

The president called for "bold and swift" action on the economy, "not only to create new jobs, but also to lay a new foundation for growth."

Obama said it was time "to build the roads and bridges, the electric grids and digital lines, restore science to its rightful place, and wield technology's wonders to raise health care's quality and lower its cost."

The president pledged to "harness the sun and the winds and the soil" and "transform schools and colleges and universities to meet the demands of a new age."

He also said he would take a pragmatic stance on the economy. The question ahead, Obama said, is not "whether the market is a force for good or ill."

The only right thing to do, he said, is to exert the great market power of making wealth while learning lessons from the current financial crisis.

"The success of our economy has always depended not just on the size of our gross domestic product, but on the reach of our prosperity; on our ability to extend opportunity to every willing heart," Obama said.

Concerning foreign policy, Obama listed major goals, including "begin to responsibly leave Iraq to its people," and "forge a hard-earned peace in Afghanistan" as well as work with the international community to prevent nuclear proliferation.

He expressed the will to resolve disputes through cooperation and dialogue. He said he would firmly defend the U.S. leadership and fiercely fight against terrorism and "hostile countries."

Concerning the Islamic world, the president said he would "seek a new way forward, based on mutual interest and mutual respect."

He also promised to lend a helping hand to under-developed countries while calling on developed nations to work together to address international concerns.

Though his inaugural speech largely sounded conciliatory, Obama struck tougher notes when he warned that the U.S. would defeat those who use "terror" and would never give in to "unfriendly nations."