For Barack Obama Online » Economy

Obama Pitches Pay-as-you-go Plan for Congress

FWO3 — Tue, 09 Jun 2009 21:26:42 +0000

President Barack Obama is challenging Congress to force itself to pay for new spending as it goes rather than sink the nation deeper into a debt, calling it a matter of public responsibility.

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White House Focuses On Stimulating The Stimulus

FWO3 — Mon, 08 Jun 2009 22:40:53 +0000

s the nation’s unemployment rate inches toward double-digit territory, the White House insists that job creation is on the way.

Road construction employees work on a project funded by the federal stimulus in May in Littleton, Colorado.

Vice President Joe Biden on Monday is presenting to President Obama the “Roadmap to Recovery,” a plan to accelerate the implementation of the $787 billion stimulus plan in its second 100 days.

Obama signed into law the American Recovery and Reinvestment Act in February, vowing the program would create or save 3.5 million jobs. So far, 150,000 jobs have been saved or created by the plan — fewer than that 345,000 jobs lost in May alone.

The White House says as a result of the expedited pace, the recovery plan will create or save more than 600,000 jobs in the second 100 days. But House Republicans, who never supported the stimulus, are saying, “I told you so.”

“Today’s announcement is an acknowledgement that the Democrats’ trillion-dollar stimulus is not working, and the American people know it,” House Minority Leader John Boehner, R-Ohio, said in a statement Monday. Source: CNN.com. Click here to continue reading.

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Economic Recovery By Years’ End

FWO3 — Wed, 27 May 2009 19:35:17 +0000

First Trust Advisors Chief Economist Brian Wesbury weighs in on the NABE survey that forecasts the end of the economic downturn by the end of the year.

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Geithner:Financial System Failed Consumers

FWO3 — Tue, 19 May 2009 11:32:57 +0000

Treasury Secretary Timothy Geithner says the U.S. Financial system failed to protect consumers and investors and suggested that the regulatory system will need changes to prevent another crisis in the future.

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White House to Expand Mortgage Aid

FWO3 — Sun, 17 May 2009 03:03:21 +0000

FBN’s Rich Edson on the Obama Administration’s announcement to help struggling homeowners with new additions to its mortgage plan.

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Billionaire Donors Split With Obama On Law That May Hurt Hotels

FWO3 — Fri, 08 May 2009 12:21:13 +0000

Three Chicago billionaires who helped fund President Barack Obama’s election campaign are fighting legislation he backs that would make it easier for unions to organize hotels they own.

Penny Pritzker, Obama’s campaign finance chairwoman and a director of Global Hyatt Corp., has told the president she is opposed to the measure, known as card check, said a person familiar with the situation. Neil Bluhm, a partner in Walton Street Capital LLC, also opposes the bill, the person said. Lester Crown, chairman of Henry Crown & Co., criticized the proposal in an interview.

Obama Targets Credit Card Rates

FWO2 — Wed, 22 Apr 2009 23:29:41 +0000


Visit msnbc.com for Breaking News, World News, and News about the Economy

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President’s Credit Card Company Fees & Rates Crackdown

FWO3 — Tue, 21 Apr 2009 17:57:29 +0000

President Obama threatened to team up with Congress to protect consumers from hidden credit card company fees and rate hikes.

Chip Reid reports.

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Obama Announces Plans To Cut Wasteful Federal Programs

FWO2 — Sat, 18 Apr 2009 15:41:19 +0000

WASHINGTON – President Barack Obama said on Saturday he would soon announce the elimination of dozens of government programs as part of a broad effort to restore fiscal accountability to the federal budget.

Speaking in his weekly radio address, Obama said he would use his first full Cabinet meeting on Monday to ask department and agency heads for specific proposals for trimming their budgets.

He named two new officials as part of a team of management, technology and budget experts that will drive the process of trimming the fat and waste from government spending.

“In the coming weeks, I will be announcing the elimination of dozens of government programs shown to be wasteful or ineffective,” he said. “In this effort, there will be no sacred cows and no pet projects. All across America, families are making hard choices, and it’s time their government did the same.

“As surely as our future depends on building a new energy economy, controlling healthcare costs and ensuring that our kids are once again the best educated in the world, it also depends on restoring a sense of responsibility and accountability to our federal budget,” Obama said. “Without significant change to steer away from ever-expanding deficits and debt, we are on an unsustainable course.”

The United States posted a record $956.8 billion budget deficit for the first half of fiscal 2009, more than three times the shortfall of a year ago, the Treasury Department reported earlier this month.

Much of the deficit was caused by spending on financial and economic rescue programs aimed at propping up companies whose collapse could worsen the global recession.

For more on this story at msnbc.com, click here.

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Tea Parties Planned To Protest Taxes!

FWO2 — Wed, 15 Apr 2009 06:01:34 +0000

FBO-ForBarackObamaOnline.com!