Archives for White House

Obama signs credit card reform into law

President Barack Obama warned overeager shoppers and greedy credit card companies alike on Friday to act responsibly as he signed into law a bill designed to protect debt-ridden consumers from surprise charges.

The White House staged a signing ceremony in the Rose Garden, an indication of the legislation's importance to Obama. Though opposed by many financial companies, the bill cleared Congress with broad support.

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Obama set to address Naval Academy grads

President Barack Obama wants to assure graduating midshipmen at the U.S. Naval Academy that he will invest not just in weapons but also in the people who keep the country safe.

Obama was to mark the start of the Memorial Day weekend with his final commencement speech of the season Friday at the naval academy in Annapolis, Md. Administration officials said the president would thank the graduates for their service and praise them for embracing character over celebrity and country over self.

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Obama to sign credit card reform bill Friday

President Barack Obama was expected to sign into law on Friday a package of sweeping new limits on credit card interest rates and fees that won final approval from the U.S. Congress on Wednesday .

In a major victory for the president and congressional Democrats, the House of Representatives voted 361-64 to approve the so-called "credit cardholder bill of rights".

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Obama ponders new regulatory panel

The Obama administration, trying to crack down on abuses exposed by the financial crisis, is considering creation of a regulatory commission to protect consumers of financial products such as credit cards and mortgages, according to administration and industry officials.

These officials said the administration has been exploring such an approach in meetings over the past few days with executives of the financial services industry.

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Governing is tougher than campaigning

Once again the president is finding out how tough it is to back up the promises made during the campaign, including his often-avowed intention of disclosing Bush-era mistreatment of prisoners, when the responsibility for doing that falls directly on him. He had decided to make public the photographs of harsh dealings with prisoners in Iraq and Afghanistan, only to change his mind after hearing from military leaders.

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White House: Economic free fall is over

The US economy is no longer in "free-fall" but is not out of the woods yet, White House budget overseer Peter Orszag said Sunday.

"I think what happened is the free-fall in the economy seems to have stopped," Orszag, director of President Barack Obama's Office of Management and Budget, told CNN.

"I guess the analogy (is) there are some glimmers of sun shining through the trees, but we're not out of the woods yet. We do have more work ahead," he added.

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Obama stirs passions at Notre Dame

Facing protests and controversy, President Barack Obama pressed for a change in tone in the nation's divisive debate over abortion.

Addressing the issue head-on at the University of Notre Dame, one of the leading Catholic universities, Obama told graduates on Sunday that while the two sides may never agree on the issue, there is some common ground.

"We can still agree that this is a heart-wrenching decision for any woman to make, with both moral and spiritual dimensions," Obama told the university's 2,900 graduates.

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Barack Obama: Our comedian-in-chief

So there stood President Obama, wilting in heavy robes in 100-degree heat at the Sun Devil Stadium, joking about not receiving an honorary degree in exchange for giving the commencement address. Arizona State University decided his body of work wasn't impressive enough.

After insisting the controversy was much ado about nothing, Obama said he did "learn to never again pick another team over the Sun Devils in my NCAA bracket. And your university president and board of regents will soon learn all about being audited by the IRS.''

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Obama stokes the fires at Notre Dame

The pro-life forces seem determined to make President Obama's scheduled graduation address at the University of Notre Dame on Sunday as unpleasant an experience as possible and you can bet that if the Secret Service had its way it would bag the appearance.

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Obama flip flops on detainee torture photo release

In a reversal, President Barack Obama said on Wednesday he would fight the release of dozens of photographs showing the abuse of terrorism suspects, over concern the images could ignite a backlash against U.S. troops.

The decision was a blow to some liberals in Obama's Democratic Party who see the photos as part of a broader effort to investigate Bush-era officials and cleanse America's image abroad.

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