Showing posts with label Barack Obama. Show all posts
Showing posts with label Barack Obama. Show all posts
December 29, 2017
Obama Chose Wall St. Over Main St. - Thomas Frank on Reality Asserts Itself
August 16, 2017
Obama's Legacy - Rewarding the Rich - Richard Wolff
April 30, 2017
Is $60 Million Really Not Enough for the Obamas?
But to acknowledge that Obama has plenty of precedent on his side is not to say that his choice is wise. Indeed, it’s unfortunate.
Obama’s propulsion onto the lecture circuit arrives at a moment of populist disgust with Wall Street greed and the Washington swamp (can doors revolve in swamps?). It comes after a campaign in which Hillary Clinton’s Goldman Sachs speaking fees became a symbol of entitled elitism. So imagine the powerful message Obama would have sent — the reverse precedent — had he chosen to renounce this road to riches. » | Ruth Marcus, Columnist | Friday, April 28, 2017
August 02, 2016
Will President Obama Help or Hurt Hillary Clinton?
January 14, 2016
Obama's Final State of the Union: "He's Calling Americans Liars"
November 02, 2014
Donald Trump Calls the Obama Economy a 'Disaster'
July 28, 2013
February 16, 2013
THE DAILY TELEGRAPH: When Barack Obama won a second term in office last November a tiny, guttering flame of hope was observed in the breasts of many hard-pressed Americans who wanted common sense to prevail in Washington.
That hope centred not on any naive expectation that Democrats and Republicans would suddenly learn to love each other, but that Mr Obama, freed from having to run for office again and in search of a personal legacy for his presidency, might start to show some leadership.
Last week, sad to report, those hopes flickered and died when Mr Obama delivered a State of the Union address that showed he has absolutely no intention of getting serious about arresting America's long-term financial death-spiral.
This was an infuriatingly dishonest speech. Mr Obama spelled out very clearly America's impending demographic crunch – too many baby-boomers, not enough money to pay for their benefits – but then falsely pretended the problem could be solved by tinkering around the edges.
"Medicare must embrace the need for modest reforms," he allowed, warning that failure to fix America's unsustainable entitlement system would "crowd out the investments we need for our children, and jeopardise the promise of a secure retirement for future generations."
All true, except for that one word, "modest". There is nothing modest about the size of America's financial problems, as Doug Elmendorf, the director of the non-partisan Congressional Budget Office, explained last week when he was up on Capitol Hill spelling out budgetary home truths. » | Peter Foster, Washington | Saturday, February 16, 2013
November 10, 2012
He said Congress must act against the so-called fiscal cliff, a package of tax rises and spending cuts due early next year.
But in a duelling news conference, Republican House Speaker John Boehner said tax rises would not be acceptable.
Budget analysts warn the US will tip into recession unless a deal is struck.
Mr Obama has repeatedly called for the affluent to pay more, but such a plan is anathema to Republicans.
The fiscal cliff would see the expiry of George W Bush-era tax cuts at the end of 2012, combined with automatic, across-the-board reductions to military and domestic spending. (+ videos) » | Friday, November 09, 2012
November 09, 2012
Speaking from the White House, the president said he was not wedded to every detail of his plan and that he was open to compromise - but warned that he would reject any proposal that was "not balanced".
However, he said that raising taxes on the wealthiest Americans - including himself in that demographic - must be part of a plan to reduce the deficit, calling on Congress to pass a bill that would prevent Bush-era tax cuts from expiring for all but the rich.
"We can't just cut our way to prosperity. If we are serious about reducing the deficit, we have to combine spending cuts with revenue, and that means asking the wealthiest Americans to pay a little more in taxes," he said.
He also declared that his re-election on Tuesday showed that the majority of Americans agreed with his approach, and that they "won't tolerate dysfunction".
Pulling a pen from his blazer pocket, he declared: "I've got the pen, I'm ready to sign the bill," as he urged lawmakers to work together and take action. » | Source: AFP | Friday, November 09, 2012
November 07, 2012
NEUE ZÜRCHER ZEITUNG: Die Erleichterung über die Wiederwahl des amtierenden US-Präsidenten Barack Obama hat an der Schweizer Börse am Mittwoch rasch wieder einer pessimistischeren Einschätzung Platz gemacht. Stark ins Minus sank der Dow Jones.
(Reuters) Nach einem Anstieg auf ein Jahreshoch setzten Gewinnmitnahmen ein und die Börse schloss tiefer. Die von der EU-Kommission gesenkten Wachstumsprognosen sorgten Händlern zufolge für neue Verunsicherung. » | Mittwoch, 07. November 2012
June 09, 2012
eKATHIMERINI: US President Barack Obama indicated on Friday that life outside the eurozone would be far worse for Greeks than the austerity measures demanded in exchange for financial aid from Europeans whom he pressed to take action to stabilize the bloc.Addressing reporters in Washington, Obama said the Greek people must recognize, ahead of crucial general elections on June 17, “that their hardships will likely be worse” if they choose to leave the euro.
In a nod to German Chancellor Angela Merkel and French President Francois Hollande, Obama urged European leaders to pursue growth alongside austerity, noting that they have the support of the US, whose economy is inextricably linked to theirs. » | ekathimerini.com | Friday, June 08, 2012
June 02, 2012
February 22, 2012
THE WALL STREET JOURNAL: WASHINGTON—The Obama administration Wednesday proposed an overhaul of U.S. corporate taxes that would lower the maximum rate companies pay while eliminating scores of loopholes that allow businesses to reduce their payments.
The Treasury Department said the plan would overhaul the corporate-tax code, including lowering the top income-tax rate for corporations to 28% from 35%, cutting the effective tax rate even further for manufacturers, and eliminating popular deductions.
The plan also maintains or makes permanent some credits, such as for research and development and production of renewable electricity, which aims to encourage investment in wind and solar power.
"A key test of any reform should be whether the net impact of the changes improves the incentives for investing in the United States," Treasury Secretary Timothy Geithner told reporters.
Mr. Geithner said the overhaul should be fiscally responsible though the plan doesn't specify the amount it would raise.
Democrats and Republicans both endorse changes to the current U.S. tax code but are at odds on details. It's unlikely the two sides will strike a deal in a heated election year, though the administration says it hopes to lay the foundation for an eventual revamp of the system. » | Jeffrey Sparshott and Siobhan Hughes | Wednesday, February 22, 2012
February 13, 2012
REUTERS DEUTSCHLAND: Washington (Reuters) - US-Präsident Barack Obama setzt trotz eines Schuldenbergs in Rekordhöhe auf massive zusätzliche Ausgaben zur Ankurbelung der Konjunktur.
Neun Monate vor der Präsidentenwahl stellte er am Montag einen Entwurf für das kommenden Haushaltsjahr vor, der vorsieht, 800 Milliarden Dollar in Maßnahmen zur Schaffung von Arbeitsplätzen und zum Ausbau der Infrastruktur zu stecken. Gleichzeitig sollen die Steuern für Millionäre auf mindestens 30 Prozent steigen.
Mit seinen Plänen beißt Obama bei der Opposition auf Granit. Die Republikaner haben bereits klar gemacht, dass der Entwurf gestorben ist, sobald er den Kongress erreicht. Sie kontrollieren das Repräsentantenhaus - und nicht der Präsident, sondern diese Kammer hat in Haushaltsfragen die Vorhand. » | Reuters | Montag, 13. Februar 2012
REUTERS FRANCE: Obama veut stimuler emploi et croissance avec le budget 2013 » | Alister Bell et Laura MacInnis, Jean-Philippe Lefief pour le service français, édité par Gilles Trequesser | lundi 13 février 2012
Related »
Obama's 2013 spending proposal is expected to go nowhere in a divided Congress and is widely seen as more of a campaign document that frames his economic pitch to voters and seeks to shift the focus from deficits to economic growth.
It fleshed out a major theme of his re-election campaign - "economic fairness." He wants wealthier Americans to bear more of the burden of slashing a federal deficit that was a trillion plus dollars for a fourth year in a row.
The budget proposal is a "reflection of shared responsibilities," the Democratic president said at a campaign-style event in Annandale, Virginia, referring to his call for a minimum 30 percent tax on millionaires.
In one of his best opportunities before the November 6 election to convince voters that he deserves a second term, Obama called for more than $800 billion for job creation and infrastructure investment, including billions of dollars for roads, railways and schools.
He also set aside money to hire more teachers, police and firefighters and invest in manufacturing, while extending tax breaks to spur hiring.
"At a time when our economy is growing and creating jobs at a faster clip, we've got to do everything in our power to keep this recovery on track," Obama said.
He casts his Republican rivals as the party for the rich while Republicans want to paint Obama as a tax-and-spend liberal.
The budget projects deficits remaining high this year and next before starting to decline, meaning more borrowing that will add well over $7 trillion to the national debt over the next decade. » | Alister Bull and Laura Macinnis | WASHINGTON | Monday, February 13, 2012
January 26, 2012
October 12, 2011
The $447 billion package of tax cuts and new spending failed by a vote of 50 to 48, well short of the 60 votes it needed to advance in the 100-member chamber.
Mr Obama, campaigning in Florida, said the vote was not the end of the fight for the measure. In a statement after the vote, Obama accused Republicans of obstruction and said he would work with Senate Majority Leader Harry Reid to make sure that individual proposals in the bill would get a vote as soon as possible. "Ultimately, the American people won't take 'no' for an answer. It's time for Congress to meet their responsibility, put their party politics aside and take action on jobs right now," he said. » | Alex Spillius in Washington | Wednesday, October 12, 2011
September 27, 2011
THE DAILY TELEGRAPH: Germany and America were on a collision course on Tuesday night over the handling of Europe's debt crisis after Berlin savaged plans to boost the EU rescue fund as a "stupid idea" and told the White House to sort out its own mess before giving gratuitous advice to others.
German finance minister Wolfgang Scha[e]uble said it would be a folly to boost the EU's bail-out machinery (EFSF) beyond its €440bn lending limit by deploying leverage to up to €2 trillion, perhaps by raising funds from the European Central Bank.
"I don't understand how anyone in the European Commission can have such a stupid idea. The result would be to endanger the AAA sovereign debt ratings of other member states. It makes no sense," he said.
Mr Schauble told Washington to mind its own businesss after President Barack Obama rebuked EU leaders for failing to recapitalise banks and allowing the debt crisis to escalate to the point where it is "scaring the world".
"It's always much easier to give advice to others than to decide for yourself. I am well prepared to give advice to the US government," he said. » | Ambrose Evans-Pritchard | Tuesday, September 27, 2011
I'm so pleased that Frau Merkel and Herr Schäuble have had the courage to tell Obama to keep his nose out of Europe's business. What can Obama tell others about solving their debt crisis? He can't solve his own! If anyone's debt is "scaring the world," it is the incredible debt of the USA! People who live in glasshouses shouldn't throw stones. – © Mark
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It is incredible that Obama can be so brazen as to point the finger at the European debt crisis and tell the world that it “scares the world.” Hasn’t he taken a look at the stats for his own country’s debt lately? And is he so naïve as to think that the US debt crisis doesn’t scare the world more? Such hypocrisy! But then, he’s a politician. So we shouldn’t be surprised. – © Mark
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