Obama to Focus on Economy Next Week

US President Barack Obama speaks at Xavier University on the fifth anniversary of Hurricane Katrina in New Orleans on August 29, 2010. Obama arrived in still-struggling New Orleans to join residents marking five years since flood waters driven by Hurricane Katrina inundated the famous jazz capital. AFP PHOTO/Jewel Samad (Photo credit should read JEWEL SAMAD/AFP/Getty Images)

President Obama returns his focus to the economy next week - the number one issue in the fall mid-term elections and where his ability to change public perception of his economic policies could be the difference between keeping or losing control of the House of Representatives.

He starts off with a labor day event in Milwaukee but the big event is Wednesday. The White House is billing his speech in Cleveland as a chance to "update the American people on the state of the economy, talk about the progress we have made, and discuss some targeted proposals to keep the economy growing."

Further, the White House says the President will use the speech to rebut House Speaker John Boehner's remarks last week in Cleveland where he called on the President to fire his economic team. "Speaking in the city where Minority Leader Boehner recently detailed the Republican economic agenda, the President will lay out the choice between his ideas and the failed policies and failed philosophy that led us into this mess," according to White House Communications Director, Dan Pfeiffer.

"There are no silver bullets and anyone who is promising them is not being straight with the American people. But there are some ideas that will help the economy and help American families that are hurting and those proposals will be a part of the President's remarks," wrote Pfeiffer on the White House website.

The President will discuss his economic proposals more in depth at a news conference Friday at the White House.

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    Robert Hendin is senior producer for "Face the Nation" and a CBS News senior political producer.