President Obama met with House Democrats Monday evening urging quick passage of his budget plan, which is set for a Thursday vote and is expected to pass.
The President has expressed his confidence in and his commitment to a successful restructuring of and long-term viability plan for General Motors and Chrysler. The road ahead is going to be very difficult and painful, although as the President said, there is potential for both companies to emerge from restructuring as stronger, more competitive companies. I share the President’s confidence in GM and Chrysler and will go even further and state that I steadfastly believe that both companies are on the verge of emerging from this dark period as industry leaders once again in sales, fuel economy, safety and customer satisfaction. The message from the President is clear -- there is a lot of work to be done yet; I stand ready to roll up my sleeves and get to work.
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By
Center for Reproductive Rights President Nancy Northup
Chalk one up for policy based on science versus ideology! The U.S. District Court for the Eastern District of New York ruled earlier this week that the Food and Drug Administration (FDA) decision to limit over-the-counter access to the emergency contraceptive Plan B to women 18 and older violated its established rules. The court found that the FDA had not acted in good faith and had been improperly influenced by “political considerations” in evaluating whether the emergency contraceptive Plan B, commonly known as the morning-after-pill, should be made available without a prescription. First the FDA unjustifiably delayed issuing a determination on whether the contraceptive should be sold over-the-counter, and when they finally were pushed into a political corner, the agency approved it only for 18 and older, despite their own scientists having found it safe and effective for all age groups. The decision is an important victory for all Americans who expect the government to safeguard their health, not undermine it. With this ruling we have succeeded in expanding access to 17-year-olds without a prescription and are one step closer to making it fully available to all women.
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Watch President Obama's weekly radio address below, which stresses the call to public service amidst the flooding crisis in North and South Dakota and Minnesota.
By
Catholics for Choice Director of Communications David J. Nolan
This week, the University of Notre Dame made an exciting announcement: President Barack Obama is to deliver the university’s 2009 commencement address and receive an honorary law degree. He joins a long line of previous US presidents who have spoken at one of the nation’s most storied Catholic institutions, one that is considered the alma mater of all Catholics, even for those who attended other universities and those who attended none. President Obama is the sixth US president to give the commencement address at the university and the ninth to be awarded an honorary degree. However, as seniors were calling their parents to tell them the good news, a small group of ultraconservative Catholics saw fit to protest the decision.
It is a little difficult to understand the furor. The reality is that, in many ways, President Obama’s approach to social justice issues very much mirrors that of the Catholic church. He is working towards an end to the war in Iraq. He wants to develop an equitable and affordable national health-care system. He has advocated at length for policies that will reduce the need for abortion. He wants to mitigate the impact of the recession on the poor.
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Beginning with his tax difficulties, and continuing through the puzzling narrative of when and what he knew about the AIG bonuses, Treasury Secretary Geithner has done little to inspire the confidence of the American people. Oddly, Secretary Geithner continued his bizarre and puzzling conduct this week, making flatly contradictory statements about the dollar in a span of only 24 hours. This weakens confidence not only in him, but in the currency he is entrusted to protect.
On Tuesday, Secretary Geithner testified before the House Financial Services Committee that he ‘categorically renounces,’ recent proposals from China and others to shift away from the dollar as the world’s reserve currency [see hearing transcript below]. The next morning in New York, speaking to the Council on Foreign Relations, he was asked about the same proposals and said he is ‘quite open,’ to them [see press report below].
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Last week, Speaker of the House Nancy Pelosi repeatedly told a group of immigrants that enforcing American immigration laws was “un-American.” Some of those in her San Francisco audience had no doubt criminally entered the United States.
She proceeded to tell the crowd that they were the “true patriots” for being against illegal immigration enforcement. As a representative for the entire Congress, Pelosi seriously overstepped her boundaries by devaluing the commitment of law enforcement employees to protect our country and enforce the law.
Pelosi says enforcing the law is “Un-American” – I say her words are unacceptable. As a politician who has sworn to uphold the law, she makes a mockery of that oath with her accusations.
With her influential position, I hope Madame Pelosi will apologize to her fellow Americans and proceed with steps to make effective immigration reform a reality. I have even sent her a letter demanding she do just that. I've copied the text of the letter below the fold...
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According to the non-partisan Congressional Budget Office, the President’s budget proposal for 2010 will produce a $9.3 trillion addition to our current deficit over the next ten years. As with a person or company that borrows money, the federal government must pay interest on all borrowed funds. To do this, the federal government sells U.S. Treasury bonds and bills to people, companies, even foreign countries. Because they were considered the safest product on the market -- after all, what other investment could be more sound than the United States government -- these bonds and bills were sold at a very low interest rate, giving rise to a low borrowing cost. The U.S. would primarily sell these Treasury bonds and bills to Asian markets and countries in the Middle East, but in addition they were sold to companies and people all over the world.
As the United States deficit grows, however, our need for additional borrowed money grows. Unfortunately, our two largest customers -- Asian markets and Middle Eastern countries -- have also been experiencing a market decline and falling oil prices, decreasing their ability to purchase these bonds and bills. Even more importantly, as our national debt continues to grow, investors will be less enticed to purchase bonds and bills backed by a government that seems intent on wracking up debt without paying it off.
All of this leads to one clear fact: sometime shortly, we will no longer be able to continue to sell as many Treasury bonds and bills as we need to run the government. So what happens then?
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The Big Question is a feature where influential lawmakers, pundits and interest group leaders give their answers to a question that’s driving discussion in news circles around the country.
Some responses are gathered via e-mail, while others are gathered in person via tape recorder.
Today’s Big Question is:
What is the most important thing the president must communicate in his news conference tonight?
Read responses below from Sen. John Kerry (D-Mass.), Sen. Richard Lugar (R-Ind.), Sen. Chris Dodd (D-Conn.), Sen. Johnny Isakson (R-Ga.), Sen. Richard Shelby (R-Ala.), Rep. Carolyn McCarthy (D-N.Y.), Rep. Bill Foster (D-Ill.), Anna Burger, John Zogby, William Redpath, John Castellani,Timothy Potter, Celinda Lake, Dean Baker, Dr. Herbert London, and Dr. Larry J. Sabato.
How the Treasury package is going to create jobs and move the economy forward.
Sen. Richard Lugar (R-Ind.)said:
I think the president has to articulate why the economic policies that he has been presenting, which are now a fairly large number, are likely to be a roadmap to recovery this year. People are not impatient, but on the other hand, they would like to see change, and they’d like to see upward movement. Read the full response here.
I’d like to hear, in a positive and constructive way, how this economic stuff is going to restore people’s confidence. Competence, optimism and confidence.
Sen. Johnny Isakson (R-Ga) said:
I have not thought about that, but in the American people’s mind there is only one issue and that is the U.S. economy: how we got there, where we are and how we’re getting out. Read the full response here.
Of course, the president has to decide that himself, but I think what I would be doing is how the so-called banking plan is going to work and how it’s going to be fair to the American taxpayer.
Rep. Carolyn McCarthy (D-N.Y.) said:
I think the most important thing the president to do tonight at his press conference is, number one, to answer all the questions openly, number two, certainly and hopefully impart reassurance for the people that he understands exactly what is going on here. He needs to understand that most people are so busy with their lives, they’re only picking up little bits and pieces on some of the newscasts. Read the full response here.
That we’re all in this together, and that resolving the financial crisis is everyone’s business. And trying to score political points in a situation with the economy melting down is irresponsible and not what we should be up to.
Anna Burger, SEIU Secretary-Treasurer, said:
President Obama’s budget is a bold solution to our healthcare crisis and we cannot let opponents of change stand in the way. Tonight, he must continue explaining why our deficits will grow even greater if we don’t deal with the major underlying problems with the economy now. Read the full response here.
John Zogby, President and CEO of Zogby International, said:
He has to provide some details how the stimulus works. When the orange cones and concrete barriers will go up. What that means for commerce and safety. The difference between children with computer access in their schools and those who currently do not. What funding research means for jobs now and the future. Read the full response here.
William Redpath, Chair of the Libertarian National Committee, said:
The President must communicate that there is a detailed plan, that will be followed, to have the government sell its debt or equity holdings of businesses as soon as possible, with no economic loss to taxpayers from those investments.
John Castellani, Business Roundtable President, said:
President Obama has laid out a broad and ambitious agenda for the nation, but we must start with economic recovery.
The president spoke to Business Roundtable members recently about his short- and long-term plans, reinforcing that while his first priority is returning our economy to a path for growth, he is committed to tackling the long-term challenges facing our economy, including education, health care, energy and environment issues. Read the full response here.
Timothy Potter, Director of Government Relations at FRCAction, said:
He needs to communicate that he is in charge. He needs to “own” the economy. No more blaming his predecessor. It is time to take responsibility. At times it appears that no one in his administration is in charge. Several of his nominees for cabinet positions have had to withdraw for one reason or another. Congress has passed two earmark laden spending bills, one disguised as a stimulus bill and one described as leftover business from the previous administration. Read the full response here.
Celinda Lake, President of Lake Research Partners, said:
Frame the budget with the goals that it plays in his economic recovery effort. So that it isn’t just spending but investing in something. Highlight three key elements that are in the budget so that people know the members who vote against are voting against x,y, and z.
Dean Baker, Co-Director at the Center for Economic Policy and Research, said:
President Obama must show that he not only understands people’s anger at Wall Street (feels their pain), but he is prepared to act based on this understanding. People have every right in the world to be furious over their tax dollars being used to enrich the millionaire bankers who wrecked their firms and the economy. The people are not just acting out of emotion, they understand that this elite has used its political power to raid their pockets. Read the full response here.
Herb London, President of the Hudson Institute, said:
Instead of discussion of economic “catastrophe” the president must restore confidence in the markets. He should be Rooseveltian noting that Americans are resilient and have overcome great difficulties in our past. He can appear cautiously optimistic without seeming pollyannish.
Larry Sabato, Director at the Center for Politics, said:
Strength and confidence. The two most successful Presidents of the 20th century, FDR and Reagan, never failed to project both when it mattered. Oh, and leave the jokes to Jay Leno. Gallows humor in public isn’t appropriate for a President at a time like this.
President Obama is never at a loss to note that he inherited a trillion-dollar deficit. But, for a man that's expressed so much outrage towards this deficit, he sure is doing his best to see that it keeps grows higher and higher.
On Friday, the CBO (Congressional Budget Office) released its analysis of President Obama's Fiscal Year 2010 budget, finding that if enacted as is, his big spending proposals would increase the federal deficit by $2.3 trillion more than the President had estimated.
According to the Wall Street Journal, the "President is seeing that $1 trillion [deficit] and raising it again and again, as far as the eye can see."
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