Sgt. Gilad Shalit, the Israeli soldier who has been imprisoned by Hamas since 2006, was released on Tuesday in Egypt as part of a prisoner trade between Israel and Hamas. In exchange for Shalit's release, Israel freed 477 Palestinian prisoners, the first group of what will be more than 1,000. "I very much hope that this deal will advance peace," Shalit told Egyptian television before he was released. The deal is seen as a major political victory for Hamas, which Israel considers to be a terrorist organization. While Shalit may be on his way home, what the prisoner swap means for the future of the Palestinian leadership and the Middle East peace process is far from clear.

There are, of course, major political ramifications of Osama Bin Laden's death for President Obama today. He can now take credit for the killing of Bin Laden. David Remnick, editor of The New Yorker and author of The Bridge: The Life and Rise of Barack Obama, speaks with us about what Bin Laden's death will mean for Obama. 

In Tuesday’s State of the Union address, President Obama discussed his plans for job creation and increased American competitiveness in the global market during his next two years in office. Rep. Paul Ryan (R-Wis.) delivered the official response on behalf of the Republican Party and stressed the need for spending cuts and his party’s skepticism about further “investments.” And there was a new feature to the evening: Rep. Michele Bachmann (R-Minn.) spoke on behalf of the Tea Party in their united response to the president.

It wasn’t that long ago that presidential candidate Barack Obama could command rapt crowds chanting his campaign motto of hope, change and rejuvenation for a nation seemingly in dire straits. But these days, President Obama has a harder time commanding that kind of grassroots support.