President Obama sent tongues wagging and Wall Street reeling with the announcement of his plan to revitalize the U.S. auto industry -- a plan that began with the ouster of General Motors CEO Rick Wagoner and most of the company's board of directors.
Recall that the Bush administration signed off on $17 billion in federal funds to help GM and Chrysler survive the current recession. It also demanded both companies submit restructuring plans that the Obama administration reviewed and ultimately rejected.
From terrorism to the economic meltdown, problems menacing the United States' security and economy also threaten an increasingly interconnected world, President Barack Obama said Saturday.
"In this new century, we live in a world that has grown smaller and more interconnected than at any time in history," Obama said in his weekly radio and Internet address, taped during his first presidential trip to Europe. "Threats to our nation's security and economy can no longer be kept at bay by oceans or by borders drawn on maps."
Would you buy a used car from this man -- Barack Obama, that is?
Well, you may just have to if you buy a certified pre-owned one from General Motors. The president's forced resignation of GM's Richard Wagoner has given a whole new meaning to the question. Some members of the beleaguered company's board of directors face the same fate. And those who replace them apparently would have to be approved by the White House.
Because Democrats abandoned a plan to use a Senate squelch-the-minority maneuver to pass a disastrous cap-and-trade carbon tax, the idea may be done for this year. But don't give thanks too quickly.
It's far from dead and buried and other disastrous energy policies are being readied for public infliction. Before the Obama administration and its congressional allies are done, we could be reeling from one of the most extraordinary spectacles in American political history -- a wholly misguided war against our own self-interests as a people.
President Barack Obama's spokesman says the White House is expecting a new employment report to show additional "severe job cuts" in the U.S.
Press secretary Robert Gibbs says the report on March employment that is due out later Friday would be gloomy. He says he did not know if Obama had been given a heads-up about the numbers but thinks that the president probably did get advance word.
Gibbs says he has not seen the numbers himself. He spoke to reporters traveling with Obama aboard Air Force One.
The last time Obama went to Europe, large cheering crowds greeted him. This time, protestors took the streets of London as a beleaguered President faces skepticism on the world stage and global doubts about his ability to fix the economic problems that face America and the rest of the planet.
But Obama's theme appears to be "we are the world" and is spinning the hell out of a message that his plan will work and the rest of the world needs to get behind him and the United States.
It's ambitious, audacious and typically Obama: Optimism in the face of bleak reality and upbeat rhetoric in a time that demands action.
Will it work? Stay tuned.
What it with the Obama administration and political appointees who don't appear to understand the tax law?
From Treasury Secretary Tim Geithner on down, an astounding number of President Obama's picks for top jobs have run into tax problems.
The latest is Kansas Gov. Kathleen Sebelius.
Facing increasing questions and doubts from within his own party, President Barack Obama worked Monday to rally Democratic members of Congress with platitudes, saying "we are all in this together" and warning those with doubts that the public stands behind him and his agenda.
For Obama, the attempt to rally Democrats is important as he heads off on his first trip to Europe to face an international community that is not sold on his economic efforts.Read More
In an amazing turnaround, the hot-and-cold administration of Barack Obama is embracing a new concept: Bad corporate giants should be allowed to fail.
But at this point, failure is only an option, not an absolute. While the White House appears to ready to accept the fact that the government cannot save everything, it is giving General Motors yet another chance to save itself and quality for mroe federal tax handouts.Read More
Lots of blame to go around on America's failing economy but Americans aren't ready to blame new President Barack Obama.
At least not yet.
A Washington Post-ABC News poll finds Obama benefits from a widespread perception that others should be blamed for the nation's economic woes.Read More