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Obama's Wager on Clean Energy: The Right Role for Government?
By Jill Lawrence - Politics DailyThere he goes again, picking winners and losers. That would be President Barack Obama, who visited Penn State University this week to shower love and money -- yet again -- on the clean, green energy sector. This is not a mere crush. Obama has been promoting green energy and green jobs on the national stage since he announced his presidential candidacy four years ago. The terminology has changed (Democrats now prefer "clean energy") but Obama's commitment has not. The 2009 stimulus package contained more than $80 billion in spending and tax incentives for the clean energy sector. Obama's trips ...
Democrats Boast of 'Top 10' List in Last Congress
By Tom Diemer - Politics DailyThey lost 63 districts and the majority in the U.S. House and saw their edge in the Senate whittled down to a few seats, but the Democratic Party says lawmakers carrying its banner can look at the just-completed congressional session "with pride." Related Stories Lynn Sweet and David Corn on MSNBC: Lame Duck Congress Successes Unhappiness Among Democrats Pushes Approval Rating for Congress to New Low To make the point, the party on Wednesday put out a "Top 10" list showcasing the "vigorous productivity" of the 111th Congress, led by Senate Majority Leader Harry Reid (D-Nev.) and ...
Stimulus Provided Large Jobs Boost, Says CBO Report
By Steven Hoffer - AOL News(Nov. 24) -- Here is one thing you can be thankful for: The heavily criticized American Recovery and Reinvestment Act generated a rise of between 1.4 and 4.1 percent in national output from July to September, according to a report from the nonpartisan Congressional Budget Office. With the unemployment rate still at the forefront of public concerns, the CBO said the stimulus package also created between 1.4 million and 3.6 million jobs during the same period. The stimulus did not, however, decrease the unemployment rate to below 8 percent, as the Obama administration promised when it sold the ...
Opinion: Business to Blame for Anti-Business Mood
By Marty Robins - AOL News(July 8) -- At a speech in late June, Verizon CEO Ivan Seidenberg said that if you want to know why businesses aren't hiring, look to Washington. "By reaching into virtually every sector of economic life, government is injecting uncertainty into the marketplace and making it harder to raise capital and create new businesses," he said. GE CEO Jeff Immelt has issued similar complaints. I agree with their concerns, and feel that much of the rhetoric and action is detrimental to the economy. But if they want to know why there's so much animosity toward business these days, they should look in ...
We Need to Continue Working to Create Jobs
By not in system - AOL News(July 2) -- This past June, the economy gained 83,000 jobs in the private sector. Overall, employment declined by 125,000 and the unemployment rate dropped to 9.5 percent. The job losses are largely a result of 225,000 temporary census workers ending their service. However, over the first half of the year, we've seen the creation of 600,000 private-sector jobs -- steady growth averaging 100,000 new private-sector jobs each month. While this steady private-sector job growth is encouraging, the large number of Americans without jobs reminds us we need to continue working to create jobs and ...
Obama in Ohio: 10,000th Road Project a 'Big Deal'
By Tom Diemer - Politics DailyPresident Obama, launching what he hopes will be a summer of recovery, traveled to Ohio Friday to mark his administration's counting of the 10,000th road building project financed by the federal stimulus package. At a ribbon-cutting for a road-widening in Columbus, Obama, in shirtsleeves, drew chuckles from hard hats when he paraphrased Vice President Biden to call the new roadwork a "big deal." The president deleted the expletive. The $15 million undertaking is expected to create 325 construction-related jobs and improve access to an expanding hospital. "Now, these projects haven't just ...
Unemployment Rate Drops in 37 States, but No Surge in Hiring Seen
By Tom Diemer - Politics DailyUnemployment dropped in 37 states in May, but the declines may have had more to do with people giving up their job hunting than with any surge in hiring, the Associated Press said. The Labor Department said six states saw increases in their jobless rates, while seven had no change. Nevada, at 14 percent, replaced Michigan as the state with the highest rate. The news came a day after a report that initial claims for unemployment benefits jumped by 12,000 last week. In Ohio, where President Obama promoted the benefits of his stimulus package on Friday, the unemployment rate dipped slightly ...
Triumph of the Senate Deficit Hawks: The Incredible Shrinking Stimulus
By Walter Shapiro - Politics DailyWith exquisite timing, the Obama administration launched Thursday what it ballyhooed as "Recovery Summer" -- a public relations offense intended to highlight the last jolt of its economic stimulus spending. As Joe Biden put it at a White House briefing with exuberantly mixed metaphors: "This summer you're going to see even more ripple effects out there. . . . The pace on the ball is moving into its highest gear here in terms of direct investment in projects." President Barack Obama flies to Columbus, Ohio, on Friday to play swing-state politics with the groundbreaking of the 10,000th (but ...
Economy Seen as Poor by Many, Despite Signs of an Upturn
By Bruce Drake - Politics DailyWhile the stock market has been generally higher, consumers are spending again, and business activity has picked up, 49 percent of Americans still consider economic conditions to be poor and another 39 percent rate them as "only fair," numbers that are little changed since last June, according to a Pew Research Center poll conducted April 21-26. Sixty-two percent say the economic stimulus program approved by Congress last year has not helped the job situation. Seventy-nine percent of Republicans and 69 percent of independents share that view, while Democrats do believe it has helped by a ...
US Recovering Faster Than Economic Rivals, IMF Says
By Joseph Schuman - AOL News(April 21) -- Thanks in part to an injection of government stimulus money, the ailing U.S. economy is rebounding from the financial crisis more strongly than Europe and Japan, according to the International Monetary Fund, which also predicts the world as a whole is mending faster than it thought just three months ago. The IMF now forecasts that the U.S. economy will grow by 3.1 percent this year, the euro zone will expand by 1 percent and Japan will grow by 1.9 percent. Such growth predictions for industrialized countries still pale in comparison with the expected growth of 10 percent in ...
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