What are the effects of speeches?

The manual is kind of vague, saying that a speech will "increase your presence in that state and the position you take will affect (sp) you nationally as well." I have heard that making speeches builds that issue as being more imporant nationally. Is it with speeches then that you can decide which issues the public should look at?
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The description of the speech is correct. It increases your awareness value within the state, and makes people in the state think that either you or your opponent either favours or opposes a specific issue. Speeches merely affect your rating, and have no monetary cost associated with them. Their disadvantage is that it generally takes a lot of time to make such a speech. Consider it to be a toned-down version of an advertisement - which an really make you look very good on an issue if left long enough.