andersen-brower

Obama Says Health-Care Plan Will Pass Congress as It’s `Right Thing to Do’

by on March 17, 2010

By Kate Andersen Brower March 17 (Bloomberg) — President Barack Obama said he’s confident his health-care plan will pass Congress because it’s “the right thing to do” for the country and that he isn’t concerned about criticism of Democratic legislative tactics. In an interview with the Fox News Channel as the House moves toward a crucial vote, Obama defended his plan, saying it embodies Republican ideas as well as Democratic proposals to revamp the U.S. health-care system. “We can fix this in a way that is sensible, that is centrist,” Obama said. “But what we can’t do is perpetuate a system in which millions of people day in and day out are having an enormously tough time and small businesses are sending me letters constantly saying that they are seeing their premiums increase 40, 50 percent.” Obama has been pushing for more than a year for action to cover tens of millions of uninsured Americans without adding to the deficit . Lawmakers, who face elections in November, are trying to complete their votes before they leave Washington for a two-week recess on March 26. The president dismissed criticism from Republicans over the way Democrats in Congress are moving forward in the legislative process. House Speaker Nancy Pelosi said this week she might use a parliamentary technique that would “deem” House members to have passed the Senate’s health-care plan by voting for a more politically palatable package of changes. “There are a lot more people who are concerned about the fact that they may be losing their house or going bankrupt because of health care” than are focused on legislative maneuvers, Obama said. Going for a Vote “The vote that’s taken in the House will be a vote for health-care reform, and if people vote ‘yes,’ whatever form that takes, that is going to be a vote for health-care reform, and I don’t think we should pretend otherwise,” Obama said. “If they vote against it, then they’re going to be voting against health- care reform and they’re going to be voting in favor of the status quo.” Lawmakers will be “judged at the polls” however they vote, he said. Asked about whether his presidency will be hobbled if the health-care bill isn’t passed, Obama said he’s more concerned about what the bill’s failure would do “to families out there who right now are getting crushed by rising health-care costs.” To contact the reporter on this story: Kate Andersen Brower in Washington at kandersen7@bloomberg.net ;

Link:
Obama Says Health-Care Plan Will Pass Congress as It’s `Right Thing to Do’

Tagged as: , , , , , , , , , , , , ,

{ 0 comments }

Papandreou Says Obama Is `Supportive’ of Measures to Stem Deficit Crisis

by on March 9, 2010

By Kate Andersen Brower March 9 (Bloomberg) — Greek Prime Minister George Papandreou said U.S. President Barack Obama expressed support for the measures being taken to deal with the financial crisis in Greece. Papandreou said after meeting with Obama at the White House today that he also got a “positive response” from the U.S. president about European initiatives to curb market speculation. The matter will be “high on the agenda” for the next meeting of the Group of 20 nations, he said. “We’re not asking for a bailout, we’re not asking for financial help from anyone,” Papandreou told reporters. “What we are doing is first of all revamping our own economy. We are taking measures to put our economy on the right path.” Obama made no statement after the meeting. Papandreou said he described for the president the “necessary structural changes” he’s making in the Greek economy, including cutting government spending. European Commission President Jose Barroso said today the 27-nation region will consider banning “purely speculative” credit-default swaps, and German Chancellor Angela Merkel called for a crackdown on derivatives trading to prevent a rerun of the economic turmoil in Greece. Risks for U.S. Papandreou, on a three-day visit to Washington, warned in a speech yesterday that the crisis in his country posed financial risks to the U.S. as well as to the EU. Economies in the euro region grew 0.1 percent in the fourth quarter of 2009 and steps taken to stem the fiscal crisis may lead to slower growth there. That, in turn, may act as a drag on the U.S. economy and impede Obama’s efforts to bring down the unemployment rate , which was 9.7 percent in February, down from 10 percent in December. Obama’s spokesman, Robert Gibbs , said the administration believes the European Union should take the lead in dealing with the Greek crisis. “This is an issue for the European Union,” Gibbs said at a briefing as Papandreou and Obama met. “We believe they have and possess the capabilities to solve that.” The euro is down about 5 percent this year against the dollar partly because of a concern a Greek default would destabilize the 16-nation monetary union. ‘Unprincipled Speculators’ Papandreou said “unprincipled speculators” are liable to spark a new global financial meltdown. He compared investors buying protection on underlying assets they don’t own — so-called naked swaps — to someone taking out fire insurance on a neighbor’s house. They then have an incentive to burn it down to collect, he said. Greek officials have been working to reduce the nation’s budget deficit of 12.7 percent of gross domestic product, the largest in Europe, while they lobby the EU for an aid package. Investors had been growing less skittish after Greece sold 5 billion euros ($6.8 billion) of bonds last week and passed 4.8 billion euros of spending cuts, reducing the risk of default. To contact the reporter on this story: Kate Andersen Brower in Washington at kandersen7@bloomberg.net

Continue reading here:
Papandreou Says Obama Is `Supportive’ of Measures to Stem Deficit Crisis

Tagged as: , , , , , , , , , , , ,

{ 0 comments }

Southern Co. Said to Be in Line for Obama Nuclear-Reactor Loan Guarantee

February 13, 2010

By Daniel Whitten and Kate Andersen Brower Feb. 13 (Bloomberg) — President Barack Obama will announce next week that Southern Co. will get a federal loan guarantee to build two nuclear reactors in Georgia, the first support awarded under a five-year-old law, an administration official said. The official, who asked not to be identified because the guarantee hasn’t been made public, confirmed the plans in an e- mail yesterday. The financial commitment will be used to add two 1,150-megawatt reactors to Southern’s two-unit site south of Augusta, Georgia. No new nuclear plants have been licensed in the U.S. since the 1979 accident at the Three Mile Island reactor in Pennsylvania. The Department of Energy has been criticized by lawmakers including Senator Lisa Murkowski of Alaska, the top Republican on the Senate’s energy committee, for failing to issue loan guarantees more quickly. “I am frustrated that DOE has still not issued a loan guarantee for nuclear power,” Murkowski told Energy Secretary Steven Chu at a Feb. 5 hearing. “And I hope that we can expect that first one shortly.” The department has authority to dole out $18.5 billion in loan guarantees, and the administration put Atlanta-based Southern at the top of a short list that also included Constellation Energy Group Inc. , NRG Energy Inc. and Scana Corp. “We received notice that something more official, more public would be forthcoming within the week,” Valerie Hendrickson , a spokeswoman for Southern, said yesterday in a telephone interview. “We are excited about the support for our project and for nuclear in general.” Obama proposed in his budget for the coming fiscal year tripling the funds available for nuclear loan guarantees to $54.5 billion. The money could be used to build seven to 10 new reactors, Chu has said. To contact the reporters on this story: Daniel Whitten in Washington at dwhitten2@bloomberg.net ; Echen32@bloomberg.net ; Kate Andersen Brower in Washington at Kandersen7@bloomberg.net

Read the full article →

Southern Co. Said to Be in Line for Obama Nuclear-Reactor Loan Guarantee

February 13, 2010

By Daniel Whitten and Kate Andersen Brower Feb. 13 (Bloomberg) — President Barack Obama will announce next week that Southern Co. will get a federal loan guarantee to build two nuclear reactors in Georgia, the first support awarded under a five-year-old law, an administration official said. The official, who asked not to be identified because the guarantee hasn’t been made public, confirmed the plans in an e- mail yesterday. The financial commitment will be used to add two 1,150-megawatt reactors to Southern’s two-unit site south of Augusta, Georgia. No new nuclear plants have been licensed in the U.S. since the 1979 accident at the Three Mile Island reactor in Pennsylvania. The Department of Energy has been criticized by lawmakers including Senator Lisa Murkowski of Alaska, the top Republican on the Senate’s energy committee, for failing to issue loan guarantees more quickly. “I am frustrated that DOE has still not issued a loan guarantee for nuclear power,” Murkowski told Energy Secretary Steven Chu at a Feb. 5 hearing. “And I hope that we can expect that first one shortly.” The department has authority to dole out $18.5 billion in loan guarantees, and the administration put Atlanta-based Southern at the top of a short list that also included Constellation Energy Group Inc. , NRG Energy Inc. and Scana Corp. “We received notice that something more official, more public would be forthcoming within the week,” Valerie Hendrickson , a spokeswoman for Southern, said yesterday in a telephone interview. “We are excited about the support for our project and for nuclear in general.” Obama proposed in his budget for the coming fiscal year tripling the funds available for nuclear loan guarantees to $54.5 billion. The money could be used to build seven to 10 new reactors, Chu has said. To contact the reporters on this story: Daniel Whitten in Washington at dwhitten2@bloomberg.net ; Echen32@bloomberg.net ; Kate Andersen Brower in Washington at Kandersen7@bloomberg.net

Read the full article →

Obama Says U.S. Failed to Properly Analyze Data Before Dec. 25 Terror Plot

January 5, 2010

By Kate Andersen Brower and Nicholas Johnston Jan. 5 (Bloomberg) — President Barack Obama said U.S. intelligence services had “sufficient information” to stop the Dec. 25 attempted bombing of an airliner and failed to properly analyze and distribute the data. “This was not a failure to collect intelligence, it was a failure to integrate and understand the intelligence we already had,” Obama said at the White House. The administration will act to repair the system to make sure such failures don’t happen again, he said. The president spoke after meeting with his top advisers to review steps the government is taking to close gaps in intelligence and security in the wake of the failed attempt to bomb a Detroit-bound Northwest Airlines flight from Amsterdam. Umar Farouk Abdulmutallab, a 23-year-old Nigerian, is charged in the U.S. with smuggling explosives onto the flight from Amsterdam’s Schiphol Airport and attempting to set them off as the plane approached Detroit’s airfield. Obama has said evidence indicates Abdulmutallab was trained and equipped by an al-Qaeda affiliated group in Yemen. To contact the reporter on this story: Kate Andersen Brower in Washington at kandersen7@bloomberg.net

Read the full article →

Obama Pledges Support for Community Banks to Spur Lending to Businesses

December 22, 2009

By Rebecca Christie and Kate Andersen Brower Dec. 22 (Bloomberg) — President Barack Obama told a dozen community bankers that he’ll work to streamline regulations as Treasury Department data show there have been few takers for government funding meant to spur lending to small businesses. Obama said after today’s White House meeting that he talked about the role banks play in making sure businesses “are getting the capital they need” while the U.S. economy recovers. The president said he recognizes that closer scrutiny of banking practices brought on by the financial crisis has made it harder for banks to lend, and that he’s looking at ways “to cut some of the red tape.” Obama’s remarks come as Treasury Department officials seek new ways to use funds from the $700 billion financial-bailout program to get local banks lending to small businesses. So far, 49 of the nation’s 7,408 community banks have stepped forward to take advantage of two capital-injection programs started by the Obama administration, Treasury figures show. “The key sticking points have been what they have been from the beginning: the statutory restrictions that Congress has put on the TARP funds,” said Paul Merski , chief economist of the Independent Community Bankers of America . “It’s been very difficult to entice banks to engage in a small-business lending program that would have all of those strings attached.” Banks that sign up for money from the Troubled Asset Relief Program must pay dividends on the government’s investment and agree to executive compensation restrictions, among other conditions set out by Congress. Seventeen banks have accepted an average of $4.4 million each under a program Obama announced in October to provide capital to banks with small-business lending plans, according to Treasury data. Obama said “we must do more” to boost smaller banks when he rolled out the new initiative. Government Capital Another 32 banks have signed up for a similar program announced in May to provide extra government capital to small banks. Treasury Secretary Timothy Geithner said then that the Treasury sought to reuse government aid repaid by larger banks to help their smaller counterparts. Banks including New York-based Citigroup Inc. and Charlotte, North Carolina-based Bank of America Corp. have repaid $116 billion to exit the TARP and its accompanying restrictions. By contrast, the two programs for small banks have used $326 million as of Dec. 22. Obama’s meeting with community bankers follows a similar session he had last week with executives from a dozen of the nation’s biggest financial institutions to spur lending to aid job growth. Job Losses The U.S. lost 7.2 million jobs since the recession began in December 2007. Economists surveyed by Bloomberg this month forecast the jobless rate will remain above 10 percent through the first half of next year. According to the Washington-based ICBA, an advocacy group representing almost 5,000 community banks, lenders with $1 billion in assets or less make up about 12 percent of the total for the industry. They make 31 percent of all small business loans below $1 million. The “unanimous concern” of executives at the table was the regulatory environment, Deborah Wright , chairman and CEO of Carver Federal Savings Bank in New York, said in a Bloomberg Television interview afterward. Bankers also want to ensure that loans they make don’t go sour, she said. “We’re all concerned about our own profitability” Wright said. Getting Balance Right Obama said that, while he doesn’t “have direct influence over independent regulators,” he wants to “get the balance right” between curbing risks and getting credit to consumers and businesses. After an era of easy credit, “the pendulum may have swung too far in the direction of not lending,” he said. Federal Deposit Insurance Corp. Chairman Sheila Bair said in a Dec. 3 interview that regulators are getting tougher. “There need to be higher capital levels,” Bair said. “One of the other issues for me is getting smaller banks to have more diversified balance sheets.” James MacPhee , president of Kalamazoo County State Bank in Schoolcraft, Michigan, said Obama’s message to the bankers was that the administration is listening. “They know that the community banks of this nation did not create this train wreck,” MacPhee said outside the White House. “They know that we’re common-sense lenders.” To contact the reporter on this story: Rebecca Christie in Washington at rchristie4@bloomberg.net ; Kate Andersen Brower in Washington at Kandersen7@bloomberg.net

Read the full article →

Obama to Hold Jobs Summit at White House Next Month as Unemployment Climbs

November 12, 2009

By Kate Andersen Brower Nov. 12 (Bloomberg) — President Barack Obama said he will convene a jobs summit at the White House next month to seek new solutions to revive the U.S. economy. To contact the reporter on this story: Kate Andersen Brower in Washington at kandersen7@bloomberg.net

Read the full article →

Obama Speeds Review of Ways to Create Jobs After Jobless Rate Breaches 10%

November 6, 2009

By Kate Andersen Brower and Roger Runningen Nov. 6 (Bloomberg) — President Barack Obama said his administration will continue to pursue measures that will stimulate job growth after the Labor Department reported the nation’s unemployment rate jumped to 10.2 percent last month. The president made his remarks after signing into law a measure extending an $8,000 tax credit for first-time homebuyers and benefits for unemployed workers. It also provides tax refunds to money-losing companies. His spokesman said the administration expects the jobless rate will continue to rise before coming down again. “My economic team is looking at ideas such as additional investments in our aging roads and bridges, incentives to encourage families and businesses to make buildings more energy efficient,” additional tax cuts, and more steps to ease the flow of credit to small business and promote exports, he said. Employers have shed 7.3 million jobs since the recession began in December 2007, 3.5 million of those since Obama took office in January. Obama called the October jobs report “a sobering number that underscores the challenge that lies ahead.” White House press secretary Robert Gibbs said at a later briefing that the administration expects the unemployment rate will get “a little worse before it gets better.” Political Peril The jobless rate carries political peril for Obama if the figure remains high in the months preceding the mid-term congressional elections a year from now. The economy was listed as the most important issue facing the country by 47 percent of the American public in a CNN poll conducted Oct. 30 to Nov. 1, surpassing health care and the wars in Iraq and Afghanistan. “Although it will take time and will take patience, I’m confident that our economy will recover,” Obama said. The legislation Obama signed will funnel an estimated $45 billion into the economy this year. It is the first major expansion of provisions in February’s $787 billion economic stimulus package. The bill would extend until April 30 the tax credit for first-time homebuyers that would otherwise expire at the end of this month. The jobless would get as many as 20 additional weeks of unemployment assistance. Companies would be given expanded ability to apply losses to previous years’ income, allowing them to qualify this year for $33 billion in tax refunds, according to Congress’s Joint Committee on Taxation. The 10.2 percent jobless rate in October is a 26-year high, up from 9.8 percent in September. The Labor Department said employers cut 190,000 jobs last month, more than the 175,000 expected by economists in a Bloomberg News survey. The jobless rate exceeded 10 percent for the first time since 1983. To contact the reporters on this story: Kate Andersen Brower in Washington at Kandersen7@bloomberg.net ; Roger Runningen in Washington at rrunningen@bloomberg.net

Read the full article →

Obama Says U.S. to Pursue Job-Creation Measures as Unemployment Rate Jumps

November 6, 2009

By Kate Andersen Brower and Roger Runningen Nov. 6 (Bloomberg) — President Barack Obama said his administration will continue to pursue measures that will stimulate job growth after the Labor Department reported the nation’s unemployment rate jumped to 10.2 percent last month. The president made his remarks after signing into law a measure extending an $8,000 tax credit for first-time homebuyers and benefits for unemployed workers. It also provides tax refunds to money-losing companies. “My economic team is looking at ideas such as additional investments in our aging roads and bridges, incentives to encourage families and business to make buildings more energy efficient,” additional tax cuts, and more steps to ease the flow of credit to small business and promote exports, he said. Employers have shed 7.3 million jobs since the recession began in December 2007, 3.5 million of those since Obama took office in January. Obama called the October jobs report “a sobering number that underscores the challenge that lies ahead.” The economy was listed as the most important issue facing the country by 47 percent of the American public in a CNN poll conducted Oct. 30 to Nov. 1, surpassing health care and the wars in Iraq and Afghanistan. “Although it will take time and will take patience, I’m confident that our economy will recover,” Obama said. Money Into Economy The legislation Obama signed will funnel an estimated $45 billion into the economy this year. It is the first major expansion of provisions in February’s $787 billion economic stimulus package. The bill would extend until April 30 the tax credit for first-time homebuyers that would otherwise expire at the end of this month. The jobless would get as many as 20 additional weeks of unemployment assistance. Companies would be given expanded ability to apply losses to previous years’ income, allowing them to qualify this year for $33 billion in tax refunds, according to Congress’s Joint Committee on Taxation. The 10.2 percent jobless rate in October is a 26-year high, up from 9.8 percent in September. The Labor Department said employers cut 190,000 jobs last month, more than the 175,000 expected by economists in a Bloomberg News survey. The jobless rate exceeded 10 percent for the first time since 1983. To contact the reporters on this story: Kate Andersen Brower in Washington at Kandersen7@bloomberg.net ; Roger Runningen in Washington at rrunningen@bloomberg.net

Read the full article →

Obama Says He Will End `Don’t Ask, Don’t Tell’ Policy for Gays in Military

October 10, 2009

By Hans Nichols and Kate Andersen Brower Oct. 10 (Bloomberg) — President Barack Obama told the Human Rights Campaign , the largest U.S. gay-rights group, that he’ll work with Congress and the Pentagon to end the policy that forbids openly gay men and women from serving in the military. “I will end ‘don’t ask, don’t tell,’” Obama said. “That’s my commitment to you,” The president said he realized many in the audience “don’t believe progress has come fast enough.” He urged patience, saying, “Do not doubt the direction we are heading and the destination we will reach.” He said they would look back at his time in office and be able to say that “we put a stop against discrimination whether in the office or in the battlefield.” Obama pledged during his presidential campaign to support equal rights for gays and lesbians. As a Democratic senator from Illinois, he supported legislation expanding health benefits to same-sex partners of federal employees. He supports civil unions for gays, though not same-sex marriages. The lack of movement on the “don’t ask, don’t tell” policy has brought him criticism from some gay groups. “Many of us had hung our hats on major legislation including repealing ‘don’t ask, don’t tell,’ and we recognize those are heavy lifts, but the president had very powerful and strong rhetoric during the campaign and we think his administration has really been uneven,” said Darlene Nipper, 44, deputy executive director of the Washington-based National Gay and Lesbian Task Force. Seeking Results Nipper said the gay and lesbian community “expects concrete policy changes including the repeal of the Defense of Marriage Act and an executive order to stop the inappropriate release of gays and lesbians from the military.” In June Obama signed a presidential memorandum allowing domestic partners of civil service employees to be added to the long-term care insurance program and allowing employees to use sick leave to take care of domestic partners and adopted children. More than half of the nation’s largest companies already offer benefits for same-sex domestic partners, including Microsoft Corp ., Intel Corp ., Eastman Kodak Co . and Walt Disney Co., according to a study by the Washington-based Human Rights Campaign. Hate-Crimes Bill Last week the U.S. House gave final approval to legislation adding gays to the list of groups covered by federal hate-crime laws in the biggest expansion of such protections in decades. Obama said he expects it to reach his desk and he vowed to sign it into law. Representative Patrick Kennedy , Democrat of Rhode Island, presented the first Edward M. Kennedy National Leadership Award to Judy and Dennis Shepard . Their son, Matthew, was beaten to death in 1998 in Wyoming. The crime inspired the couple to start a foundation to raise awareness about anti-gay violence and were a driving force behind the hate-crime legislation. Obama spoke the day before the National Equality March , expected to draw thousands of activists on the National Mall demanding “equal protection for lesbian, gay, bisexual, and transgender people in all matters governed by civil law in all 50 states” according to their website. Obama is the second president to speak to the Human Rights Campaign. Bill Clinton addressed the group in 1997. To contact the reporters on this story: Kate Andersen Brower in Washington at Kandersen7@bloomberg.net ;

Read the full article →

Obama Says Congress Approaching `Historic Moment’ for Health-Care Debate

October 10, 2009

By Kate Andersen Brower Oct. 10 (Bloomberg) — President Barack Obama said his plan to overhaul the U.S. health-care system has gained momentum in Congress where lawmakers are approaching a “historic moment” in crafting the legislation. Obama said his push for a bill was aided by the Congressional Budget Office’s report that the version being considered by the Senate Finance Committee would trim the federal deficit while insuring millions more people. He also cited endorsements of his effort by prominent current and former Republican officeholders, such as California Governor Arnold Schwarzenegger . “What’s remarkable is not that we’ve had a spirited debate about health insurance reform, but the unprecedented consensus that has come together behind it,” Obama said in his weekly address on the radio and Internet. “Now is the time to rise above the politics of the moment.” The Senate finance panel’s $829 billion plan would cut the deficit by $81 billion over 10 years, with new taxes and savings more than offsetting the measure’s cost, the CBO said in a preliminary analysis released Oct. 7. It would continue to reduce the deficit in the subsequent decade, the CBO said, though the nonpartisan agency said it couldn’t give precise figures. The panel’s legislation would require that millions of Americans purchase health insurance, impose new restrictions on insurers, and tax high-end insurance plans. Supporters Obama said revamping health care has gained broad support from leaders such as New York City Mayor Michael Bloomberg , an independent, and Republicans Schwarzenegger, Bob Dole and Bill Frist , both former Senate majority leaders, and Tommy Thompson , who was Health and Human Services secretary under President George W. Bush . Bloomberg is founder and majority owner of Bloomberg LP, parent of Bloomberg News. “These distinguished leaders understand that health insurance reform isn’t a Democratic issue or a Republican issue, but an American issue that demands a solution,” Obama said. He said they are joining doctors and nurses and representatives of the hospital and drug industries who already have expressed their support. The Senate Finance Committee, the last of five congressional committees working on proposals, plans to vote on its bill Oct. 13, according to Senate Majority Leader Harry Reid . The legislation will be combined with a separate Senate version approved by the chamber’s health committee in July. Three House committees have also acted. Republican Address In the Republican address , Senator George LeMieux of Florida said the Democratic-backed health-care plans would cost at least $1.8 trillion over 10 years and will take nearly $500 billion out of Medicare funding. “Taking money from a program already in financial trouble is not responsible; it’s not fair to our seniors who paid into the program and it’s not fair to our children and grandchildren who will be burdened with massive debt obligations,” he said. LeMieux said the overhaul would force millions of people onto Medicaid, the state and federal insurance program for the poor. He said that will add a burden on state governments. “Piling on additional obligations would mean even more severe cuts to roads, schools, law enforcement and other essential state services,” he said. LeMieux said requiring all Americans to purchase health- care insurance would add “a new tax burden” for people who can’t afford it. Every adult would be charged a $750 penalty if they don’t buy health insurance, LeMieux said. That would break a promise Obama made not to raise taxes on families earning less than $250,000 a year. “If it looks like a tax, and it’s paid like a tax, then it is a tax, plain and simple,” he said. Democrats are working on the legislation without Republican input and are rushing toward a resolution, LeMieux said. To contact the reporter on this story: Kate Andersen Brower in Washington at Kandersen7@bloomberg.net

Read the full article →

Obama Calls for New Era of World Cooperation in UN General Assembly Speech

September 23, 2009

By Nicholas Johnston and Kate Andersen Brower Sept. 23 (Bloomberg) — President Barack Obama, in his first address to the United Nations General Assembly, sought to set a new tone for U.S. relations with other countries and called for a new era of cooperation. “I am well aware of the expectations that accompany my presidency around the world,” Obama said. “These expectations are not about me, rather they are rooted I believe in the discontent of the status quo.” He said while the U.S. is taking a new direction, other countries must give up their “almost reflexive anti- Americanism” that has served as an excuse for inaction on issues from terrorism to fighting poverty. Obama’s speech to the General Assembly today comes amid a series of meetings with world leaders, including Chinese President Hu Jintao yesterday, and Japanese Prime Minister Yukio Hatoyama and Russian President Dmitry Medvedev today. To contact the reporter on this story: Nicholas Johnston in Washington at njohnston3@bloomberg.net

Read the full article →

Obama Tells Students With Political Ambitions to `Be Careful’ on Facebook

September 8, 2009

By Julianna Goldman and Kate Andersen Brower Sept. 8 (Bloomberg) — President Barack Obama has some counsel for youngsters who want to grow up and be president: be careful what you post on Facebook and other Internet outposts. Obama offered, what he called some “practical political advice” to a 9th grader at Wakefield High School in the Washington suburb of Arlington, Virginia, who asked how he too could become President one day, saying that “when you’re young, you know, you make mistakes and you do some stupid stuff.” “I want everybody here to be careful about what you post on Facebook, because in the YouTube age whatever you do, it will be pulled up again later somewhere in your life,” Obama said. “That’s number one.” His remarks preceded a speech to students at the high school that was broadcast to schools across the country, in which he urged them to “get serious” about their studies and take responsibility for their own success. Representatives from Palo Alto, California-based Facebook Inc. did not immediately respond to a request for comment. The social networking tool that was founded in 2004, has more than 250 million active users, with more than 30 million of them posting status updates at least once a day, according to Facebook’s website . In the question-and-answer session with the 9th grade class, which wasn’t broadcast, Obama said he’s heard stories about Facebook postings hindering job applicants. “I’ve been hearing a lot about young people who, you know, they’re posting stuff on Facebook, and then suddenly they go apply for a job,” Obama said to laughter. To contact the reporters on this story: Julianna Goldman in Washington at jgoldman6@bloomberg.net ; Kate Andersen Brower in Arlington, Virginia, at Kandersen7@bloomberg.net

Read the full article →

Obama Addresses Virginia Students as Laura Bush Defends Televised Speech

September 8, 2009

By Kate Andersen Brower Sept. 8 (Bloomberg) — President Barack Obama , the controversy of his address to U.S. school children ebbing, told a class at a Virginia high school that parents and teachers can’t force them to learn, “you’ve got to want to learn.” “If you are hungry for learning, you will find teachers who want to help you,” Obama told 9th graders at Wakefield High School in Arlington, a suburb of Washington. The president spoke to the class and took questions. He told them he “made some mistakes” in high school and talked about his upbringing. He said neither he nor first lady Michelle Obama came from wealthy backgrounds. “But the one thing we had was parents who insisted on us getting a good education,” the told the class. His remarks preceded a televised speech to students across the country that had generated charges from some Republicans that he was trying to push his political agenda and prompted some school districts to give parents the option of preventing their children from watching. Obama is urging students to “get serious” and take responsibility for their education by finding their strengths, working hard and not giving up when faced with difficult times, according to a text posted on the White House Web site . “Even when you’re struggling, even when you’re discouraged and you feel like other people have given up on you, don’t ever give up on yourself,” Obama says in the address. “Because when you give up on yourself, you give up on your country.” Lesson Plan The uproar over the speech was triggered after the administration sent schools suggested classroom activities, including having students write about “how they could help the president.” “Questions have arisen about the purpose of this address and some of the specific tasks suggested for young students,” Representatives John Kline , the senior Republican on the House Education Committee, and Thaddeus McCotter , chairman of the House Republican Policy Committee, said in a Sept. 2 letter to Obama. The Education Department reworded the assignment, asking students to instead write “about how they can achieve their short-term and long-term education goals.” The posting of the speech on the White House Web site helped quiet the criticism. Former first lady Laura Bush , in an interview on CNN, defended Obama’s decision to talk to students about the importance of working hard in school. The chairman of the Republican Party in Florida, who last week accused the president of trying to spread a “socialist ideology,” said after reading the text that it’s “a good speech,” ABC News reported. Broadcast of Speech The speech was scheduled to be broadcast through the White House Web site and on the C-SPAN public affairs cable network. Administration officials said that while the Education Department is encouraging schools to let students from kindergarten through 12th grade to view the event, participation isn’t mandatory. Obama’s predecessors in the White House also have given addressed directed at the nation’s students. “There is a place for the president of the United States to talk to school children and encourage school children.” Laura Bush said in her interview with CNN yesterday. “It’s really important for everyone to respect the president of the United States.” Greer, the Florida Republican, told CNN yesterday that he decided to let his children watch Obama’s speech after reading the text. “This was never about the president speaking to children about the importance of education,” Greer said on CNN. “It was about the White House writing lesson plans.” To contact the reporter on this story: Kate Andersen Brower in Arlington, Virginia, at Kandersen7@bloomberg.net

Read the full article →

Obama Won’t Increase Taxes on Those Making Less Than $250,000, Gibbs Says

August 3, 2009

By Kate Andersen Brower and Nicholas Johnston Aug. 3 (Bloomberg) — President Barack Obama’s spokesman said the administration won’t raise taxes on middle-income taxpayers. “The president’s clear commitment is not to raise taxes on those making less than $250,000 a year,” White House press secretary Robert Gibbs said. Gibbs was responding to questions about remarks made yesterday by Treasury Secretary Timothy Geithner that the government needed to bring deficits under control

Read the full article →