Posts Tagged ‘saved

05
Jul
11

240 million jobs?!

Think Progress: … Rick Santorum continued his long-shot campaign this morning with an appearance on CNN. During the interview, Santorum attempted to criticize the Obama administration’s record on jobs, but inadvertently revealed his complete ignorance regarding the American labor force.

Last Friday, the administration’s Council of Economic Advisers released a report showing the effects of the 2009 Recovery Act, which to date has raised employment by between 2.4 and 3.6 million jobs. Santorum cited the report while trying to attack the administration.

However, he completely bungled it: Santorum said the Obama administration claimed to have created 280 million jobs last December, and is now claiming to have created 240 million jobs, thus proving that the Recovery Act somehow destroyed jobs…

….. The entire American civilian labor force is about 153 million people. There are currently 13.9 million people unemployed. If the Obama administration had created 240 to 280 million jobs, the unemployment crisis would have been solved several times over, and America would have so many jobs that it would need to start employing workers from all over the world just to fill all the available positions.

More here

Thanks Fred

05
Jun
11

“nothing to celebrate”?

Steve Benen: In 2009, with the American automotive industry on the verge of collapse, and with at least a million American jobs on the line, President Obama unveiled a rescue strategy. John Boehner, like the rest of his party, predicted the policy would fail miserably. Two years later, we now know Obama was right and Boehner and the GOP were wrong. It takes a mature and responsible adult to admit when he’s wrong. It takes a Republican leader to screw up the same fight twice:

…Speaker of the House John Boehner (R-OH) would rather have seen those jobs disappear … “The administration’s auto bailout is nothing to celebrate,” said Brendan Buck, a spokesman for House Speaker John Boehner, an Ohio Republican. “The model the White House should be touting is Ford, which, instead of relying on a taxpayer-funded bailout, saw trouble coming and made the tough decisions necessary to preserve jobs and weather the storm.

….President Obama: “Today, each of the Big Three automakers – Chrysler, GM, and Ford – is turning a profit for the first time since 2004. Chrysler has repaid every dime and more of what it owes American taxpayers for their support during my presidency – and it repaid that money six years ahead of schedule…. all three American automakers are now adding shifts and creating jobs at the strongest rate since the 1990s…. That’s remarkable when you think about where we were just a couple of years ago.”

If you have America’s best interests at heart, and you consider these developments “nothing to celebrate,” then maybe your celebratory standards are in need of revision….

Full post here

03
Jun
11

resurgence

See here

01
Jun
11

resurgence

White House: Two years ago, on June 1, 2009, General Motors filed for bankruptcy, backed by $30 billion in support from the federal government. The same day, in the same New York courthouse, a judge approved Chrysler’s plan to forge an alliance with Fiat and emerge from bankruptcy as a restructured business with an uncertain future.

Two years later the American auto industry is mounting a comeback.

In the year before GM and Chrysler filed for bankruptcy, the auto industry shed over 400,000 jobs.  Had President Obama failed to intervene, conservative estimates suggest that it would have cost at least an additional one million jobs and devastated vast parts of our nation’s industrial heartland.  Since GM and Chrysler Group emerged from bankruptcy in June 2009, the auto industry has added 115,000 jobs – the fastest pace of job growth in the auto industry since 1998.

More here

12
Apr
11

he gave away everything! oh, wait….

AP: Details of last week’s hard-won agreement to avoid a government shutdown and cut federal spending by $38 billion were released Tuesday morning. They reveal that the budget cuts, while historic, were significantly eased by pruning money left over from previous years, using accounting sleight of hand and going after programs President Barack Obama had targeted anyway.

Such moves permitted Obama to save favorite programs – Pell grants for poor college students, health research and “Race to the Top” aid for public schools, among others – from Republican knives.

..As a result of the legerdemain, Obama was able to reverse many of the cuts passed by House Republicans in February when the chamber approved a bill slashing this year’s budget by more than $60 billion. In doing so, the White House protected favorites like the Head Start early learning program, while maintaining the maximum Pell grant of $5,550 and funding for Obama’s “Race to the Top” initiative that provides grants to better-performing schools.

Instead, the cuts that actually will make it into law are far tamer, including cuts to earmarks, unspent census money, leftover federal construction funding, and $2.5 billion from the most recent renewal of highway programs that can’t be spent because of restrictions set by other legislation. Another $3.5 billion comes from unused spending authority from a program providing health care to children of lower-income families.

…conservatives are upset that most conservative policy “riders” added by Republicans were dropped from the legislation in the course of the talks.

The White House rejected GOP attempts to block the EPA’s ability to issue global warming rules and other reversals of environmental regulations. Obama also forced Republicans to drop an effort to cut off Planned Parenthood from federal funding, as well as GOP moves to stop implementation of Obama’s overhauls of health care and Wall Street regulation.

The administration also thwarted a GOP attempt to block new rules governing the Internet, as well as a National Rifle Association-backed attempt to neuter a little-noticed initiative aimed at catching people running guns to Mexican drug lords by having regulators gather information on batch purchases of rifles and shotguns.

More here

****

Steve Benen: Today is the first day we’ve been able to get a good look at exactly what spending cuts are included in the new budget deal. We’ve been working with the larger, top-line numbers since late last week, but without a sense of what the specific cuts are going to be.

….does this mean the actual budget cuts won’t be quite as brutal as we thought when the deal was struck on Friday night? Actually, yes, that’s pretty much what it means. The AP’s report echoes this point.

..It turns out, a lot of the cuts related to money that wasn’t going to be spent (leftover Census money, for example), eliminating programs that were set to expire, and not repeating expenditures intended to be one-time infusions anyway.

Maybe it’s time to revisit the assumption that the Obama White House got rolled.

More here

04
Apr
11

‘obama averted disasters, but getting credit is the hard part’

Michael Grunwald (Time): The New Republic recently asked an intriguing question about the U.S. intervention in Libya: Why isn’t Obama getting credit for preventing an atrocity? The answer is obvious when you think about it: because he prevented the atrocity. It’s hard to get credit for avoiding a disaster when it’s impossible to prove the disaster would have happened without you. Social scientists call this the counterfactual problem….

This is a problem for public policy because preventing disasters is infinitely preferable to stopping them in progress. And it’s a political problem for Obama … He is the counterfactual President, not just on his Libya policy, but on almost all his policies. And as his aides often complain, “I prevented a disaster” is a lousy political slogan….

The most extreme example, of course, was the $787 billion stimulus package that Obama signed during his first month in office, when the economy was shedding 700,000 jobs a month. The immediate goal was to avoid a depression, and in that sense it was a tremendous success, stopping the hemorrhaging and stabilizing the scariest economic situation since the Great Depression…..

… His financial reforms should reduce the chances of another Wall Street meltdown, but it’s classic disaster prevention: if they fail, it’s a scandal, and if they work, we won’t notice…

Most of Obama’s counterfactual problems can be traced to what his former chief of staff Rahm Emanuel calls the “gift bag” that President Bush left for him. The gift bag included the worst economy in 80 years, a nightmare on Wall Street, a deficit spiraling out of control, one unnecessary war in Iraq and one intractable war in Afghanistan, a dysfunctional health care system, and an energy policy that was broiling the planet and exposing consumers to violent swings in gas prices….

Full article here




@BarackObama

@WhiteHouse

@FLOTUS

@blog44

@PeteSouza

Enter your email address to receive notifications of new posts by email.

@TheObamaDiary

@NerdyWonka

@DaRiverZkind

@Lib_Librarian

@amk4obama

@zizii2

@Our4thEstate

Categories

Archives

Blog Stats

  • 27,856,990 hits
October 2014
M T W T F S S
« Sep    
 12345
6789101112
13141516171819
20212223242526
2728293031