Tag Archives: Economy

West Wing Week ~ Dispatches from Iraq ~ August 20 – August 26, 2010

Posted by: Audiegrl

Vice President Joe Biden shakes hands after addressing the 111th Veterans of Foreign Wars Convention in Indianapolis, Indiana. August 23, 2010. (Official White House Photo by David Lienemann)

Welcome to the West Wing Week, your guide to everything that’s happening at 1600 Pennsylvania Ave. This week, watch a sneak preview of next Friday’s “Dispatches from Iraq” and join our brave men and women, both troops and civilians, on the ground in Iraq as combat operations end. Go behind the scenes with Provisional Reconstruction Teams, train with the Iraqi Federal Police, learn how millions of tons of equipment gets redeployed or sent home and much more.

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West Wing Week ~ Turkey Turkey and a Jammer ~ August 14 – August 19, 2010

Posted by: Audiegrl

President Barack Obama helps spell out Ohio with the Weithman family, Rachel, 9, Josh, 11, and mom Rhonda, in their home in Columbus, Ohio, Aug. 18, 2010. (Official White House Photo by Pete Souza)

This week, travel with the First Family to Panama City Beach, Florida for a weekend of swimming, mini-golf, and meeting with local business owners. Next up, the President hits the road traveling to Milwaukee, Seattle and Columbus to talk to business owners and families about the economy.

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President Barack Obama greets 103-year-old Milwaukee veteran James Edwards backstage at ZBB Energy Corporation in Menomonee Falls, Wis., Aug. 16, 2010. (Official White House Photo by Pete Souza)


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President Obama Makes Statement on Economy and Oil Spill

Posted by: Audiegrl
Written by: Jessie Lee

REUTERS: ANOTHER OIL RIG OVERTURNS IN GULF COAST… DEVELOPING…

That Economic Heartbeat is Growing Stronger

President Obama comments on the first quarter 2010 GDP numbers in the Rose Garden of the White House, April, 30, 2010. President Obama is joined by representatives and workers from two U.S. manufacturers, Itron, a Washington state based manufacturer of smart energy meters, and A123 Systems, a Massachusetts based advanced battery manufacturer, that are expanding production and hiring as a result of Recovery Act investments in innovation and technology. (Official White House Photo by Chuck Kennedy)

Earlier today, President Obama delivered remarks on the oil spill in the Gulf of Mexico before talking about the economy. He explained that while BP is ultimately responsible for the costs of cleanup operations, the government has been discussing the response effort with BP and is prepared to help affected communities.

He announced that there are now five staging areas to protect sensitive shorelines along with federal response personnel in the area and response vessels and aircraft on the scene. The President also said that Secretary Salazar will conduct a thorough review of the oil spill and report on additional precautions and technologies that should be required to prevent future accidents.

So, let me be clear.  I continue to believe that domestic oil production is an important part of our overall strategy for energy security, but I’ve always said it must be done responsibly, for the safety of our workers and our environment.  The local economies and livelihoods of the people of the Gulf Coast as well as the ecology of the region are at stake.  And we’re going to continue to update the American people on the situation in the Gulf going forward.

The President then discussed the GDP report released today, which shows that the economy grew at a rate of 3.2 percent as opposed to last year during the quarter when it shrank at a rate of 6.4 percent. He explained that the number shows that the “economic heartbeat is growing stronger,” but that he measures progress by a different pulse – “the progress the American people feel in their own lives day in, day out.” The President stated that “the work of moving the economy forward remains our focus every single day.”

Now, government can’t replace every job that has been lost. That’s not government’s role.  It is America’s business all across the country — the private sector, businesses — that have always been and will always be the engines of our job creation.  Our task, then, is to create the conditions necessary for those businesses to open their doors, expand their operations, and ultimately hire more workers.

That’s precisely what we’ve tried to do by cutting taxes for small businesses; by backing thousands of loans supporting billions of dollars in lending; and by making targeted investments in the areas of our economy where the potential for job growth is greatest -– areas like clean energy.

He talked about Itron and A123 Systems, both companies that were able to capitalize their growth by taking advantage of the Advanced Manufacturing Tax Credit in the Recovery Act, which helped several companies hire more workers, add equipment, boost output, and promote American business in the clean energy industry.

In fact, this program was so successful that it was oversubscribed by a ratio of three to one.  That’s why I’ve called for an additional $5 billion in investment into these projects to accelerate the creation of clean-energy jobs in America’s factories.  Because every time a new factory or plant opens or expands in America, it becomes important to more people than the workers it employs; it becomes an economic lifeline to a community, capable of supporting dozens, or hundreds, or even thousands of jobs indirectly.

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President Obama in Iowa: Investing in America’s Energy Security

Posted by: Audiegrl

Written by Jessie Lee

President Barack Obama tours the Siemens Wind Turbine Blade Manufacturing Plant in Fort Madison, Ia., April 27, 2010. (Official White House Photo by Lawrence Jackson)

Today President Obama travelled to Iowa and visited Siemens Energy, Inc., where he received a tour of the facility and saw the creation of blades that are capable of generating enough power for hundreds of homes. The President said that each employee of Siemens “Is helping stake America’s claim on a clean-energy future.”

The President discussed the future of clean energy in America, calling energy security “a top priority for my administration since the day I took office.” He explained that the Recovery Act made the largest investment in clean energy in the nation’s history- an investment expected to create or save 700,000 jobs by the end of 2012 and double America’s capacity to generate renewable electricity from sources like the sun and the wind:

So in the midst of the economic turmoil, the Recovery Act helped make it possible for America to install nearly 10 gigawatts of new wind-generating capacity last year alone -– and that’s enough to power more than 2.4 million American homes.  So when people ask you what was the Recovery Act about, what was the stimulus about, it was about this — this plant.

The President praised Iowa for already generating a higher percentage of electricity from wind than any other state because of facilities like Siemens Energy:

And as extraordinary as this facility is, here’s the thing  — wind power isn’t a silver bullet, it’s not going to solve all our energy challenges.  There’s no single energy source.  The key is to understand that this is a key component, a key part of a comprehensive strategy to move us from an economy that just runs on fossil fuels to one that relies on more homegrown fuels and clean energy.  I believe that we can come together around this issue and pass comprehensive energy and climate legislation that will ignite new industries, spark new jobs in towns just like Fort Madison, make America more energy-independent.  Our security, our economy, the future of our planet all depend on it.

The President continued his series of White House to Main Street tours with stops through Iowa, Illinois and Missouri. After touring Siemens Energy, Inc. in Fort Madison, Iowa, the President made an impromptu visit to Jerry’s Family Restaurant in Mt. Pleasant where he greeted Iowans and wished 107-year-old Frances Asher a happy birthday. Watch some raw footage from the visit:.

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President Obama’s Saturday YouTube Address 02/20/10

white house gov logoWhiteHouse.govPremiums, Profits, and the Need for Health Reform ~ The President points to outrageous premium hikes from health insurance companies, especially those already making massive profits, as further proof of the need for reform. Looking ahead to the coming bipartisan meeting on reform, the President urges members of Congress to come to the table in good faith to address the issue.

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President Obama’s Saturday YouTube Address 02/13/10

white house gov logoWhiteHouse.gov—The President, having just signed the “Pay As You Go” law, discusses the importance of this fundamental rule to getting budget deficits in check. Ensuring that new spending and tax cuts are offset was a important factor in creating the budget surplus of the late 1990’s.
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The Rachel Maddow Show: White House Explains Spending Freeze

Rachel Maddow ShowRachel Maddow talks with White House economic adviser Jared Bernstein about the breaking news that President Barack Obama will announce a “non-security” spending freeze in his State of the Union address on Wednesday evening.
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44D’s Photo Diaries: America During the Years 1935 thru 1939

Posted by: Betsmeier


Sometimes we all need a reminder…and we think we’ve got it bad?? These photos make our: complaining about no cell service, high gasoline prices, and not enough cable channels…well, it all seems a bit ludicrous… Today I’m reminded to be grateful for what I do have…how about you? 🙂

Click the photos to enlarge

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The Death of U.S. Political Democracy For The People

Posted by: LibbyShaw

Will the Senator from Wal-Mart please yield to the Senator from Halliburton? The Congressman from Black Water has 5 minutes remaining before the Congresswoman from United Health may speak.

Mark your calendars, folks. January 21, 2010 is the day the radical and activist Supreme Court of the United States delivered the U.S. Democracy into the hands of the corporate sector and special interests groups. According to an article in the New York Times corporations, lobbyists and unions can now legally purchase their candidates of choice.

“We have got a million we can spend advertising for you or against you – whichever one you want,’ ” a lobbyist can tell lawmakers, said Lawrence M. Noble, a lawyer at Skadden Arps in Washington and former general counsel of the Federal Election Commission.

The decision yesterday will usher in unimaginable numbers of Swift Boat attack ads. Corporate fat cats can now threaten and bully politicians to do their bidding or else.

“It will put on steroids the trend that outside groups are increasingly dominating campaigns,” Mr. Ginsberg said. “Candidates lose control of their message. Some of these guys lose control of their whole personalities.”

“Parties will sort of shrink in the relative importance of things,” he added, “and outside groups will take over more of the functions – advertising support, get out the vote – that parties do now.”

Front row: Associate Justices Anthony M. Kennedy, John Paul Stevens, Chief Justice John G. Roberts, Antonin G. Scalia, and Clarence Thomas. Back row: Associate Justices Samuel A. Alito, Ruth Bader Ginsburg, Stephen G. Breyer, and Sonia Sotomayor.

Some have called the SOTUS decision a power grab that is intellectually dishonest.

In opening the floodgates for corporate money in election campaigns, the Supreme Court did not simply engage in a brazen power grab. It did so in an opinion stunning in its intellectual dishonesty.

Many of those commenting on the decision in Citizens United v. Federal Election Commission have focused on the power-grab part. I agree with them. It was unnecessary for the court to go so far when there were several less-radical grounds available. It was audacious to seize the opportunity to overrule precedents when the parties had not pressed this issue and the lower courts had not considered it. It was the height of activism to usurp the judgments of Congress and state legislatures about how best to prevent corruption of the political process.

“If it is not necessary to decide more, it is necessary not to decide more,” a wise judge once wrote. That was Chief Justice John G. Roberts — back when — and dissenting Justice John Paul Stevens rightly turned that line against him.

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Republicans naturally and predictably love this recent ruling. But of course they would. Republicans embrace and fully support authoritarian forms of government. And the sad truth of the matter is the GOP has always worked for the corporate sector.

It is devastatingly unfortunate that Republican voters have never been able to understand the hard, cold and mean reality of those they elect into office. Politicians take an oath to serve the people in their districts but many merely give their constituents nothing but empty rhetoric. If one were to closely examine one’s Republican lawmakers’ voting records one would find who their elected officials really work for.

My guess is the teabaggers will wraps it head around the reality of the SCOTUS decision like we progressives have, for the only one imperative we do share in common is a collective outrage over the corporate takeover of the U.S. government and its legislative process by special interest groups and corporations.

But unfortunately teabaggers, unlike progressives, are far too easily led astray by the likes of Dick Armey, one of the numerous behind the scenes leaders of the teabagger movement. Armey’s main mission is to promote the interests of the health care industry. He and his organization, Freedom Works, uses teabaggers as its tools.

Republicans and teabaggers alike have been led to believe that the government is the root of everything evil while progressives know that government is the only force that can and will protect us from the evils of self-serving greed mongers of the corporate sector.

We are where we are today b/c the corporate sector has been enabled to run rough shod over the American people. We are broke. There are no jobs. We lost homes. We lost retirement savings. Meanwhile on Wall St. the fat cats who can now purchase politicians get richer by the minute.

Elections have consequences. The nice guy or girl candidate with whom to have a beer could very well be an anti-political democracy devil in disguise who has every intention of throwing the middle and working classes to the lions.

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Oh, and Prince Alwaleed, grandson of the King of Saudi Arabia and the largest individual shareholder in Citigroup and second biggest shareholder in News Corp (Murdock’s FOX “News”) doesn’t like Obama’s tax on the banks.

Who would have thought?

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Obama outlines new limits on bank risk-taking

posted by GeoT
Obama’s plan is broad, recalls Depression-era curbs


“If these folks want a fight, it’s a fight I’m ready to have.”


Full replay of announcement:
The “Volcker Rule” for Financial Institutions
President Obama calls for new restrictions on the size and scope of financial institutions to rein in excessive risk-taking and protect taxpayers. The proposed legislation is called the “Volcker Rule” in recognition of the efforts of former Federal Reserve Chairman and current President’s Economic Recovery Advisory Board Chairman Paul Volcker.
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