Archives for White House

Obama retools in effort to save troubled agenda

President Barack ObamaPresident Barack Obama tried to revive his battered agenda and rally despondent Democrats on Friday with a renewed emphasis on jobs. His visit to this struggling Rust Belt city capped a tough first-anniversary week for a presidency that suffered jolts at the hands of Massachusetts voters and the Supreme Court.

"I'm not going to win every round," Obama told a town hall audience. But, striking a populist tone on a campaign-style swing, Obama pledged, "I can promise you there will be more fights in the days ahead."

He used the word "fight" or some variation over a dozen times as he tried out a revamped message focused mainly on the economy, part of a stepped up effort to persuade Americans he's doing all he can to create jobs.

"This isn't about me. This is about you," he said.
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Obama’s shift on banks: Geithner on way out?

President Barack Obama's sudden decision to finally get tough on banks and their constant abuse of consumers and the public trusts signals an end to the financial industry friendly tactics of Treasury Secretary Tim Geithner and a return to the more regulation options pushed by Paul Volcker.

It could also mean Geithner is headed for the exits.

For some, Geithner can not leave the Obama administration soon enough. Critics have long regarded him as too cozy with the financial industry he was supposed to regulate. Others saw him as one of the architects of the financial crisis that helped spur the greatest recession since the great depression.

The banking industry, which got everything it wanted from Geithner, disagrees.


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Obama honors memory of Martin Luther King

President Barack Obama served plates of steaming hot lunches to the needy Monday, one of several ways the nation's first black president paid tribute to Martin Luther King Jr. on the federal holiday honoring the slain civil rights leader.

Obama held a discussion at the White House with black elders and their grandchildren about the push for racial equality that King led until he was assassinated in 1968. In the evening, the president spoke at the Kennedy Center during a musical celebration of King's legacy, urging the nation to recommit itself to fulfilling King's dream.

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Obama pushes bank tax to cover bailout costs

President Barack Obama on Saturday pitched his proposed tax on banks to recover the cost of bailing them out during the financial crisis, saying if they can afford billions more in bonuses, they can pay back the taxpayers, too.

The banks and Republican lawmakers oppose the tax, which Obama announced this week.

"We're going to pass this fee into law," the president said in his weekly radio and Internet address.

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Obama’s ratings sink to new lows

President Barack ObamaAmericans are deeply divided on Barack Obama's first year in the White House, and the president's ratings on priority issues health care and the economy have hit new lows, polls showed Tuesday.

Polling also suggests independent voters are turning away from the president as he nears the anniversary of his inauguration on January 20 -- though in a sign of hope for his administration, he remains more popular than his policies.

A CBS News poll showed Obama's job approval rating at 46 percent, marking the first time he had polled below 50 percent in the survey.

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Obama’s long list of broken promises

President Barack Obama ends his first year in office with his to-do list still long and his unfulfilled campaign promises stacked high.

From winding down the war in Iraq to limiting lobbyists, Obama has made some progress. But the president has faced political reality and accepted — sometimes grudgingly — compromises that leave him exposed to criticism. Promises that have proven difficult include pledges not to raise taxes, to curb earmarks and to shut down the Guantanamo Bay detention facility in Cuba by the end of his first year.

"We are moving systematically to bring about change, but change is hard," Obama told a town hall crowd in California. "Change doesn't happen overnight."

That was in March.

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Obama to banks: ‘We want our money back’

President Barack Obama lashed out Thursday at "obscene" corporate bonuses and proposed a fee to raise 90 billion dollars in 10 years from top banks to recoup "every single dime" of a Wall Street bailout.

"We want our money back and we are going to get it," Obama said, terming a massive government bailout of the banking industry as "distasteful" though necessary, adding it left the sector with a heavy duty to taxpayers.

"My determination to achieve this goal is only heightened when I see reports of massive profits and obscene bonuses at some of the very firms who owe their continued existence to the American people," Obama said.

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