President Barack Obama

Political spin clouds economic realities

Political spin clouds economic realities

Midterm politics are distorting economic decision-making as leaders of both parties spin rival views of the road ahead, offering visions based on questionable economics. The resulting political angst is leaving a mark on major legislation. A far-reaching financial overhaul bill signed by President Barack Obama on Wednesday reflects voter anger over bankers, bailouts and bonuses. […]

Americans lose faith in Obama

Americans lose faith in Obama

Nearly 60 percent of American voters say they lack faith in President Barack Obama, according to a public opinion poll published on Tuesday. The results of the Washington Post/ABC News poll are a reversal of what voters said at the start of Obama’s presidency 18 months ago when about 60 percent expressed confidence in his […]

Can Obama restore consumer confidence in economy?

Can Obama restore consumer confidence in economy?

A day after consumer concerns about the economy sent stocks sliding, President Barack Obama is trying to assure the American people that the economic recovery is headed in the right direction. Obama is visiting Wisconsin on Wednesday to speak about the economy in Racine before taking questions in a town hall meeting. The president is […]

House-Senate panel approves Wall Street reform bill

House-Senate panel approves Wall Street reform bill

A Senate-House of Representatives conference panel approved a landmark bill on Friday to overhaul financial regulations, working through the night on the thorniest provisions. The legislation next heads to the full Senate and House where it is expected to win final approval and President Barack Obama could sign it into law before July 4.

GOP set to keep blocking job benefits extension

GOP set to keep blocking job benefits extension

A Republican filibuster appears increasingly likely to kill long-sought legislation extending jobless benefits and a host of other spending and tax measures, despite a new round of cuts to the measure Wednesday that reduced its deficit impact even further. A senior Senate Democratic aide said Wednesday evening that several days’ worth of negotiations with a […]

White House budget chief quitting

White House budget chief quitting

White House Budget Director Peter Orszag’s expected resignation would make him the first high-profile member of President Barack Obama’s team to depart the administration. A Democratic official said Monday that Orszag is expected to leave in the coming months, although the exact timing is not known. The official confirmed the news to The Associated Press […]

Obama hits Gulf Coast for oil spill photo op

Obama hits Gulf Coast for oil spill photo op

Kneeling to pick up tar balls on an oil-fouled beach and listening to “heartbreaking stories” of loss, President Barack Obama personally confronted the spreading damage wrought by the crude gushing into the Gulf of Mexico — and the bitter anger that’s rising onshore. “What can he really do?” said Billy Ward, a developer who comes […]

Obama on spill: ‘My watch, my responsibility’

Obama on spill: ‘My watch, my responsibility’

Thrown on the defensive, President Barack Obama acknowledged his administration could have done better in dealing with the biggest oil spill in the nation’s history and misjudged the industry’s ability to cope with a worst-case scenario. Obama will make his second tour of the battered Gulf Coast on Friday. “I take responsibility. It is my […]

Angry Obama on oil spill: ‘Plug the damn hole’

Angry Obama on oil spill: ‘Plug the damn hole’

An obviously angry President Barack Obama, meeting with senior government officials, had one view on the 36-day old oil spill in the Gulf of Mexico that is becoming a monumental disaster not only for the environment and his administration. “Plug the damn hole,” he told the meeting. “Just get it done.” The spill from a […]

Senate passes financial industry overhaul

Senate passes financial industry overhaul

In a major victory for President Barack Obama, the US Senate has passed the most sweeping overhaul of financial industry rules since the Great Depression of the 1930s. By a 59-39 margin, lawmakers approved Thursday an ambitious effort to curb Wall Street excesses blamed for fueling the 2008 global economic meltdown, amid smoldering voter anger […]