Archives for White House

Obama on CEO bonuses: Wealth is good

Less than a month after calling bank executives' pay "obscene," President Barack Obama is declining to criticize bonuses received by two top Wall Street chief executives, saying he doesn't "begrudge people success or wealth."

In an interview with Bloomberg Business Week, the president compared Jamie Dimon, CEO of JPMorgan Chase & Co., and Lloyd Blankfein, CEO of Goldman Sachs Group Inc., with athletes who are paid even more.

"First of all, I know both those guys," Obama said. "They're very savvy businessmen. And I, like most of the American people, don't begrudge people success or wealth. That's part of the free market system."
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Obama tries to rally depressed Democrats

Just a year after celebrating Barack Obama's inauguration, despondent Democrats on Saturday heard from their party leader who urged optimism in the face of Republicans' strong challenge to their congressional dominance.

The president said political leaders must plot their way forward to November with an understanding of the economic difficulties Americans face.

"I understand their frustration. You understand it as well," Obama said.
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Obama on blizzard: ‘Snowmageddon’

President Barack Obama calls the storm that shut down Washington Friday and Saturday "Snowmageddon."

For a former Senator from Chicago, the storm that dumped more than two feet of snow on the nation's Capital shouldn't seem that bad.

The President's motorcade had a relatively easy time navigating DC's snow-covered but deserted streets as it traversed a few blocks from the White House to the Democratic National Committe's winter meeting Saturday.

Others had more trouble.
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Obama predicts healthcare will be key election issue

President Barack Obama (AFP)President Barack Obama vowed on Thursday not to quit in his quest for a healthcare overhaul and said if the effort fails this year, Americans will render a judgment about it in November congressional elections.

"The key is to not let the moment slip away," he said.

He spoke at a Democratic National Committee fund-raising reception at which he sought to boost the morale of party loyalists in the wake of the Democrats' loss of a 60-vote supermajority in the Senate when Republican Scott Brown won in Massachusetts last week.

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Obama gets pissy with Conservative Democrats

President Barack Obama (AFP)Just as President Obama's appearance before the House Republican caucus last Friday gave him an opportunity to push back against some of the most outlandish conservative caricatures of his presidency, his visit with Senate Democrats on Wednesday morning allowed him to confront, head on and in public, the timidity and centrism from within his own party.

"There was apparently a headline after the Massachusetts election," Obama declared during the morning meeting, to which cameras were allowed access. "The Village Voice announced that Republicans win a 41-59 majority. It's worth thinking about. We still have to lead."

In one key exchange Wednesday, Obama rebuked pleas from Sen. Blanche Lincoln (D-Ark.) that he moderate his agenda and work with Republicans to ease the current state of economic uncertainty.
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Obama’s $3.83 trillion budget includes record setting deficit

President Barack Obama (AFP)America's free-spending President unveiled a massive $3.83 trillion budget Monday that spends more and more on fighting unemployment while boosting taxes on the weathy and freezing spending on some government programs.

President Barack Obama's includes a record-setting $1.56 trillion deficit -- up .15 trillion over the current year.

Obama targets tax increases at energy producers and those making more than $250,000 year while freezing the budgets for homeland security and domestic programs. Military budgets are not frozen and will continue to grow.

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Obama: When all else fails, become a populist

President Barack Obama is shifting his administration's emphasis to battling unemployment, the scourge that is hurting households nationwide and threatening to inflict heavy losses on Democrats in November's elections.

In the process, he and his allies in Congress intend to force Republicans, through a series of upcoming votes, to choose between Wall Street's high fliers and Main Street's middle-class workers. With Democrats struggling to deliver on big promises such as overhauling health care, they hope their increasingly populist tone _coupled with Republican resistance to two Democratic-crafted, deficit-reduction proposals — will prevent wavering voters from drifting to the GOP.

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More Obama promises: Cut deficits, create jobs

President Barack Obama said Saturday that trimming budget deficits is as important as creating jobs, his top domestic priority this year, to continue the economic recovery that appears under way.

The government reported Friday the economy grew at an annual rate of 5.7 percent in the final three months of 2009. It was the second consecutive quarter of growth and the fastest rate in more than six years.

"A sign of progress," Obama said in his weekly radio and Internet address. "But as we work to create jobs, it is critical that we rein in the budget deficits we've been accumulating for far too long."

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Embattled Bernanke gets second term as Fed chief

Federal Reserve chief Ben Bernanke won confirmation to a second term as the US central banker, despite sharp attacks on his role before the 2008 financial meltdown and in its aftermath.

After a bitter debate that roiled global stock markets, the US Senate voted 70-30 to approve Bernanke after easily dispatching an effort to block the nomination days before his term was to expire on Sunday.

President Barack Obama declared himself "gratified" by the vote and said Bernanke was needed because "while the worst of the storm has passed, its devastation remains and we have a lot of work to do to rebuild our economy."

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