Text of speech here
President Barack Obama addresses the Families USA 16th Annual Health Action Conference, in Washington, Friday, Jan. 28, 2011. Families USA is an consumer advocacy health care organization. At left is Families USA Executive Director Ron Pollack
White House video:
Wall Street Journal: U.S. economic growth accelerated in the final three months of 2010 as Americans spent more, suggesting the recovery may pick up speed this year.
Gross domestic product, the broadest measure of all the goods and services produced, rose at an inflation-adjusted annual rate of 3.2% in the fourth quarter…The increase takes total output to its highest level since the end of 2007, when the recession started.
Consumer spending, accounting for about 70% of demand in the U.S. economy, rose at a 4.4% rate in the fourth quarter. That’s the fastest pace since the start of 2006 and double the average rise in spending in the previous three quarters of 2010.
…For the first time in 2010, the economy also benefited from a trade surplus in October to December……Spending on durable goods like cars and furniture jumped by 21.6%, while spending for nondurable goods like food and clothing was up by 5.0%.
Full article here
Meanwhile….
MSNBC: Ford earned its largest profit in more than a decade in 2010, as demand for its cars and trucks rose and it benefited from years of restructuring. It was the company’s best performance since 1999 and the first time it has earned back-to-back annual profits in six years.
Ford earned $6.6 billion, or $1.66 per share. That’s more than double its 2009 profit of $2.7 billion… Ford’s U.S. sales jumped 20 percent last year — double the rate of the industry — as an improving economy spurred demand for the company’s F-Series pickups and other vehicles. Ford became the top-selling brand in the U.S. last year, beating out Chevrolet and Toyota for the first time since 2003.
Full article here
