President Obama on Tuesday laid out his plans for the upcoming year in his fifth annual State of the Union (SOTU) address. And, after a year dominated by budget battles, the NSA spying scandal, and the meltdown of Obamacare, the libertarian message is more relevant than ever.

Cato scholars live-blogged their reactions to what the president said—and what he left out.

Below is a video compilation of their response, followed by the transcript of the liveblog.