Showing posts for "Economy"
The Wall Street Journal looks at new questions surrounding Barack Obama’s nominee to head the U.S. Treasury, Timothy Geithner.
After meeting with his top economic advisers on Tuesday, President-elect Barack Obama warned of the potential of “trillion-dollar deficits for years to come” (NYT). He promised to enforce tighter fiscal discipline in his government.
President-elect Barack Obama discussed his American Recovery and Reinvestment Plan on Saturday in his weekly radio address. Obama said his plan will create three million new jobs, more than eighty percent of which will be in the private sector.
Senior International Monetary Fund economist Olivier Blanchard endorsed (WSJ) President-elect Barack Obama’s economic stimulus plan, saying the size of the program “corresponds roughly to what we think is needed.”
President-elect Barack Obama and Vice President-elect Joe Biden announced the nomination of several additional members of their national security team on Tuesday. Former Clinton administration officials James Steinberg and Jacob Lew are Obama’s picks to serve as deputy secretaries of state under Hillary Clinton. Thomas Donilon is the nominee for deputy national security adviser, and Antony “Tony” Blinken is the nominee for national security adviser to Biden.
“Today’
s actions are a necessary step to help avoid a collapse in our auto industry that would have devastating consequences for our economy and our workers. With the short-term assistance provided by this package, the auto companies must bring all their stakeholders together — including labor, dealers, creditors and suppliers — to make the hard choices necessary to achieve long-term viability. The auto companies must not squander this chance to reform bad management practices and begin the long-term restructuring that is absolutely required to save this critical industry and the millions of American jobs that depend on it,”
President-elect Barack Obama is expected to announce the nomination of Mary Schapiro (LAT) as chairman of the Securities and Exchange Commission on Thursday. Schapiro is currently chief executive of the Financial Industry Regulatory Authority, a non-governmental securities regulating body.
“I am disappointed that the Senate could not reach agreement on a short-term plan for the auto industry. I share the frustration of so many about the decades of mismanagement in this industry that has helped deliver the current crisis. Those bad practices cannot be rewarded or continued. But I also know that millions of American jobs rely directly or indirectly on a viable auto industry, and that the beginnings of reform are at hand. The revival of our economy as a whole should not be a partisan issue. So I commend those in Congress as well as the Administration who tried valiantly to forge a compromise. My hope is that the Administration and the Congress will still find a way to give the industry the temporary assistance it needs while demanding the long-term restructuring that is absolutely required.”
President-elect Barack Obama announced Sunday that Gen. Eric Shinseki is his nominee to be secretary of the Department of Veterans Affairs. Shinseki, a Vietnam veteran and former Army chief of staff, was replaced after questioning former Defense Secretary Donald Rumsfeld’s strategy in Iraq.
Though the incoming presidential administration has indicated its first priority will be repairing the troubled U.S. economy, President-elect Barack Obama emphasized throughout his campaign that combating climate change will also be a top agenda item. Obama plans to reduce U.S. greenhouse gases by 80 percent by 2050, and has pledged to create millions of “green jobs.” At a symposium on policy and strategies to combat climate change Tuesday, business leaders seemed to agree Obama should institute a federal cap-and-trade system for carbon emissions.
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