President Obama will deliver what his campaign is billing as a major speech on the economy in Cleveland today at 1:45 p.m. Obama is expected to frame the choice for voters as either a return to the failed policies of his predecessor that sparked the economic downturn or a continuation of his guidance in boosting the middle class.

We’ll have live video here when the president begins speaking:

Shortly after Obama begins his speech, Mitt Romney will “bracket” the president’s address by speaking at a Cincinnati factory. Romney also spoke about the economy yesterday in an address to business leaders, attacking the president’s underlying philosophy on the role of government and corporations in creating jobs.

The Fix this morning laid out Obama’s main challenge: With a stagnant unemployment rate and bad news from the Federal Reserve regarding a whopping 40 percent decrease in the median family net worth between 2007 and 2010, Obama must convince voters that they can answer the question, “Are you better off now than you were four years ago?” in the affirmative.

Read more from PostPolitics:

The Fix: What is Obama’s best economic message?

Trail Mix: Can Obama reboot on the economy?

Fact Checker: Obama’s right answer to a wrongheaded question

The Fix: Why is Romney avoiding the press?