Posts Tagged ‘bailout



11
May
12

Rise and Shine

President Obama waves from his motorcade on Laurel Canyon Boulevard in Studio City, May 10

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Daily News: …. Tama Winograd, a member of Studio City/NoHo/Valley Village for Obama, had entered a drawing by the campaign in hopes of winning entry to the fundraiser.

She didn’t win, so instead she held a ValleyForObama.com sign along Obama’s motorcade route on Laurel Canyon Boulevard.

“I would’ve fainted seeing George Clooney and the president at the same time,” said Winograd, a Valley Village resident. “I would’ve been a puddle of goo.” 😆

More here

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Text of the President’s remarks at the George Clooney fundraiser here

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People wait for President Barack Obama’s motorcade in Los Angeles, May 10. Obama was attending a fundraiser at actor George Clooney’s home

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Cagle

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Thanks Squarepeg

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OFA

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Greg Sargent: The Romney campaign and some on the right are having a grand old time blasting Obama for supposedly saying late yesterday that he ”forgot” about the recession. Romney spokesperson Andrea Saul claims Obama has “now admitted that he’s forgotten about the recession.”

This is an absurd distortion. But it’s worth dwelling on, because it says an enormous amount about what this presidential camapign is all about.

Here’s Obama’s actual quote: “It was a house of cards, and it collapsed in the most destructive worst crisis that we’ve seen since the great depression. And sometimes people forget the magnitude of it , you know? And you saw some of that I think in the video that was shown. Sometimes I forget. In the last six months of 2008, while we were campaigning, nearly three million of our neighbors lost their jobs. Eight hundred thousand lost their jobs in the month that I took office. And it was tough. But the American people proved they were tougher.”

…. What Obama actually said, of course, is that sometimes he forgets about the magnitude of the crisis that hit before he took office and continued into the early months of his term. The irony here is really rich: It’s actually the Romney campaign that is heavily invested in getting voters to forget the magnitude of the crisis Obama inherited.

More here

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CNN link

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Glenn Kessler (The Fact Checker): Mitt Romney’s claim of credit for the auto industry turnaround…. What should we do when a politician keeps repeating a Pinocchio-laden claim — or even makes its worse?

….. Given the likelihood that discredited claims will be repeated — often — in this election cycle, we are going launch a new category called “repeat offender.” We still have to create a graphic, but in the meantime we are going to increase Romney’s Pinocchio rating for his auto bailout claims from Two to Three Pinocchios.

Romney has been consistent on his position that a managed bankruptcy was the best course of action. But he keeps digging a bigger hole for himself when he claims that the path he recommended — which included no public assistance — would have been successful from the start. Both Presidents Bush and Obama rejected that advice, and there is little evidence the industry would have survived without the breathing room provided by public funds.

More here

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Smart 😉

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1:15: President Obama departs Los Angeles, California en route Reno, Nevada.

2:30: Arrives in Reno.

2:50: Meets with a local family.

3:10: Delivers remarks pushing Congress to act on the ‘To Do List’.

3:50: Departs Reno, NV en route Joint Base Andrews.

8:25: Arrives at the White House.

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Michelle Obama will deliver the commencement address to graduates of Virginia Tech today – CNN have it listed for 12:0 ET

CNN live streaming

Virginia Tech

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Hey, I remembered, it’s Friday 😎

Morning everyone 😉

03
Apr
12

rise and shine

CBS Sports

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12:30: White House llive and CNN Live streaming

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TPM: Today the presidential gloves really come off.

In a Tuesday speech hosted by the Associated Press in Washington, D.C., President Obama will deliver a broadside to the House-passed Republican budget, which calls for upending Medicare and making deep cuts to domestic social programs. Obama will describe it as a dark vision for America and draw a clear contrast with his campaign themes of reducing inequality and asking the wealthy to help pay down the nation’s debt.

“This congressional Republican budget, however, is something different altogether. It’s a Trojan Horse,” Obama plans to say, according to excerpts provided by the White House. “Disguised as deficit-reduction plan, it’s really an attempt to impose a radical vision on our country. It’s nothing but thinly veiled Social Darwinism. It’s antithetical to our entire history as a land of opportunity and upward mobility for everyone who’s willing to work for it — a place where prosperity doesn’t trickle down from the top, but grows outward from the heart of the middle class. And by gutting the very things we need to grow an economy that’s built to last — education and training; research and development — it’s a prescription for decline.”

More here

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Business Insider: Over the next eight hours, twenty automakers will report March auto sales in the U.S. Already, it appears the seasonally adjusted annual rate of sales will top all industry estimates, new data out of Business Insider shows.

First out the gate this month is Chrysler, with a better-than-expected sales gain of 34.2 percent, moving 163,381 units in March.

At that healthy gain, Business Insider estimates total U.S. SAAR will run between 15.2 million and 16.1 million. This is well above current estimates of 14.6 million units, per Bloomberg.

The last time auto sales topped an annualized pace of 15.2 million was four years ago, in February 2008.

More here

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Detroit News: Chrysler Group LLC sold 163,381 cars and trucks last month, translating into a 34 percent year-over-year increase and making March another stellar month for the Auburn Hills automaker.

Meanwhile, Ford Motor Co. said Tuesday that its auto sales were up 5 percent in March — the company’s best March in five years. And Hyundai Motor Co. said it set a new all-time record for U.S. auto sales in March, up 13 percent to 69,728 on strong sales of its fuel-efficient models.

More here

Thanks VC

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NYT: For several weeks, Mitt Romney has seized on the rising cost of gasoline to attack President Obama and his environmental aides for what Mr. Romney calls their misguided desire to see higher energy prices.

…. But Mr. Romney, the former governor of Massachusetts, has in the past appeared much more open to the notion that rising energy costs could be good for the American economy. In his 2010 book, “No Apology,” Mr. Romney described a gradual increase in the cost of energy as the kind of market-based incentive that conservatives could embrace.

…. Charles Ebinger, the director of the energy security initiative at the Brookings Institution, said Mr. Romney’s openness to the benefits of higher energy prices was similar to the approach that Mr. Obama’s advisers had espoused for years.

More here

Steve Benen: ….. The main problem, as the New York Times reported today, is that Romney has already argued for the same policies he’s now against.

…. As governor, Romney also raised gas taxes — by 400% — and hired an energy advisor who opposes reduction in oil prices. Romney even pushed for more energy-efficient light bulbs, though he now opposes the idea.

Clearly, the former governor is aware of public concerns and wants to incorporate energy policy into the 2012 race, but between Romney’s Big Oil ties and his previous personas, it’s not going to be easy for him to stay coherent on the subject.

More here

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TPM: A new report by an independent government auditor concludes that implementing President Obama’s health care law as intended will make a significant dent in the long-term debt forecast.

…. it concludes that if key cost-control measures in the law, and other automatic cuts to Medicare spending baked into current law, are ignored, or overridden by Congress, the implications for the national debt are vast.

If “Obamacare” is implemented as intended, and other measures, such as automatic payment cuts to Medicare physicians, take effect, “spending on Medicare and Medicaid grows from 5 percent of GDP in 2010 to over 7 percent by 2030.”

By contrast, if Congress overrides those provisions, “spending on health care grows much more rapidly ….”

More here

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Morning everyone 😉

05
Mar
12

catching up

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Greg Sargent: If there are reasons for President Obama to be optimistic about his reelection chances, one of them has to be this: The two key dynamics driving our politics right now are both playing in his favor. First, economic optimism continues to rise. Second, the GOP primary seems to have left likely nominee Mitt Romney with historically low standing.

The new NBC/WSJ poll finds that Obama has hit the 50 percent approval mark – his highest since Bin Laden’s death. That’s apparently driven by these findings about the economy:

Forty percent believe the economy will improve during the next year, a three-point increase from January. And looking back at the economic recession, 57 percent say that the worst is behind us, while 36 percent say the worst is still to come.

More here

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MSNBC: Just hours after President Obama described to a group of pro-Israel activists the steps he has taken and will take to prevent Iran from developing a nuclear weapon, Mitt Romney made a dire prediction about the consequences for that effort if the president is reelected.

“If Barack Obama gets re-elected, Iran will have a nuclear weapon and the world will change if that’s the case,” Romney (said) in response to a question from an eleven year-old boy…..

More here

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Steven Pearlstein (Washington Post): In case you haven’t noticed, the economy is actually getting better. Noticeably better.

…. On Wall Street, the Dow is at its highest point in nearly four years and Nasdaq at its highest point in a decade, reflecting both record profits and renewed investor confidence. Federal and state tax revenues are beginning to come in better than projected and households are continuing to whittle down their debt, with a savings rate of 4.5 percent. There are even enough green shoots in the housing market to suggest that residential construction might contribute to GDP growth this year rather than subtract from it. Revisions of government data are now reliably up rather than down.

And yet, there are those on the Republican right and the Democratic left who have so much invested in a bad economy that they are reluctant to acknowledge any of this good news.

Full article here

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Thanks amk

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Steve Benen: Last summer, with gas prices rising, several leading Republicans came up with a curious accusation: President Obama was causing pain at the pump deliberately, as part of some undefined environmental agenda. This odd line was pushed by Haley Barbour and the Koch brothers, among others.

…. I wonder if Republicans seriously expect anyone to believe their rhetoric on this. The argument Americans are supposed to believe is that President Obama, in an election year, not only has the power to manipulate gas prices at will, but is trying to raise them – on purpose – to the dismay of consumers.

The follow-up question is rather straightforward: why on earth would Obama want to do that? It doesn’t even take much in the way of critical thinking skills to know the answer: he wouldn’t.

More here

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ABC: The federal judge who presided over Chrysler’s bankruptcy told ABC News in an exclusive interview that the ailing company could not have survived without taxpayer money.

“The record before the Court was clear that there were no other sources of lending,” said Arthur J. Gonzalez, who served as chief judge of the U.S. bankruptcy court for the Southern District of New York … “One thing is clear, without government support in one fashion or another, there were no sources of funding.”

….the new Chrysler is accelerating on the road to recovery, earning $225 million in its most profitable quarter since emerging from bankruptcy.….

And what about that taxpayer money? The company has paid back all but $1.3 billion of the $12.5 billion that Uncle Sam  loaned it under Presidents Bush and Obama.

More here

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Cagle

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Jerusalem Post: President Shimon Peres on Monday praised US President Barack Obama’s speech to the AIPAC annual policy conference, saying he had offered the maximum support for Israel that an American president could possibly offer.

Peres told Army Radio that Obama made clear that the “security of Israel is a national American interest.” He added that it would be preposterous to expect Obama to give a timetable for possible military action against Iran.

“I don’t expect someone to say when they will do this, and when they will do that, not us or them. It’s not done,” Peres stated. “He didn’t talk about dates, but he spoke about actions,” the president added.

…. The president also expressed satisfaction with Obama’s assertion that diplomacy as a means to solve the Iranian nuclear threat had not been exhausted.

More here

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Cagle

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Charles Pierce: ….. Rush Limbaugh unloads his weepy pilonoidal cyst of an intellect in this fashion on your daughter. Then, as his advertisers run screaming into the night … he finally issues a statement wherein he, essentially, apologizes for:

….. Using the word “slut,” rather than, one supposes, “trollop,” “slattern,” or “lady of the town.” …. For failing clearly to explain his deeply serious political philosophy regarding what is proper to discuss before Congress in these “very serious political times.”….

Does any of that remotely constitute an “apology” to you for what he said about your daughter? Does any of that make you more likely to trust in the good faith of anything this Viagra-sponging pillhead says in the foreseeable future? Does any of that make you less likely to kind of wish, at least in your heart of hearts, that you could perform orthopedic surgery on this guy with a Louisville Slugger?

Thought not.

More here

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Martin Luther King and his wife, Coretta Scott King leading the voting rights march from Selma to Montgomery, Ala., March 1965

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ABC

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RCP: You need not look further than this critical swing state to see just how badly Mitt Romney’s vaunted campaign organization lags behind President Obama’s.

Obama for America already has more than a dozen staffers in the Buckeye State, working seven days a week. There are nine offices scattered throughout Ohio where volunteers gather every day to contact voters — and Election Day is still eight months away. And what should send a chill down Romney’s spine is that the same thing is happening in every swing state.

More here

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Extracts (Thanks Dotster)

28
Feb
12

we take care of our own

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President Barack Obama delivers remarks at the United Auto Workers Conference at the Marriott Wardman Park in Washington, D.C., Feb. 28, 2012. (Official White House Photo by Pete Souza)

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Wednesday:

12:00: PBO and VP Biden meet for lunch with Congressional Leadership.

8:20: PBO and Michelle Obama host a dinner in honor of the Armed Forces and their families; VP Biden and Jill Biden also attend.

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Chat away 😉

28
Feb
12

afternoon all

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Greg Sargent: In a speech to the United Auto Workers just now, Obama defended his decision to bail out the auto industry, lacing into Mitt Romney with withering derision. But this speech was about more than the auto-bailout. It was Obama’s case for reelection.

This speech constituted Obama’s most ambitious effort yet to weave his defense of the auto rescue into the larger contrast he will try to draw between his vision and the “you’re on your own” ideology he will accuse Republicans of representing.

…. today’s speech was important: It revealed that the alternate reality Romney has been functioning in throughout the GOP primary is soon going to give way to another reality entirely, a general election reality — and Romney, presuming he will be the nominee, will soon collide with it.

More here

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TPM

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The American Prospect

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Michael Tomasky: Ideological rigidity and Obama hatred led Republicans to reject the auto bailout. Now they’re doubling down on their opposition – and surrendering Michigan in the general election.

Michiganders, take pride: your 2012 primary will go down in American political history as perhaps the single most eye-popping case ever of a party’s demands on its candidates during the primary fight reducing its chance of winning the state in November from something not far from half to near zero. This is especially true if Rick Santorum manages to pull the upset and go on to be the nominee; Barack Obama’s campaign wouldn’t have to spend one thin dime in Michigan and would still win by at least 15 points. But it’s true also if unfavorite son Mitt Romney manages to win. Horse-race polls that once showed a tough battle between the two now project an Obama blowout.

More here

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The People’s View

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Business Insider: U.S. consumer confidence in February surged to 70.8. Economists were expecting the measure to rise to just 63.0 from January’s reading of 61.1…..

More here

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Grist

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More here

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President Barack Obama signs an Executive Order entitled “Establishment of the Interagency Trade Enforcement Center,” in the Oval Office, Feb. 28, 2012. (Official White House Photo by Pete Souza)

28
Feb
12

the united auto workers: “four more years”

Text of speech here

A person holds up four fingers for four more years as President Barack Obama speaks at the United Auto Workers conference in Washington, Feb. 28

… with UAW President Bob King

“I keep on hearing these same folks talk about values all the time. You want to talk about values? Hard work: That’s a value. Looking out for one another: That’s a value. The idea that we’re all in it together and I’m my brother’s and sister’s keeper: That’s a value.”

27
Feb
12

afternoon all

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New Jersey Gov. Chris Christie looks at his email while First Lady Michelle Obama speaks during a meeting of the National Governors Association

Arizona Gov. Jan Brewer snacks on an apple while Vice President Joe Biden addresses a meeting of the National Governors Association

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More here

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USA Today: Auto sales are growing so fast that Detroit can barely keep up.

Three years after the U.S. auto industry nearly collapsed, sales of cars and trucks are surging. Sales could exceed 14 million this year, above last year’s 12.8 million.

The result: Carmakers are adding shifts and hiring thousands of workers around the country. Carmakers and parts companies added more than 38,000 jobs last year, reaching a total of 717,000. And automakers have announced plans to add another 13,000 this year, mostly on night shifts.

…. the surge in hiring bolsters the argument of those who supported the federal bailout of General Motors and Chrysler in 2008…..

More here

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Don’t miss Liberal Librarian at The People’s View

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SmartyPants

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The Week

24
Feb
12

welcome ‘home’ willard

United Auto Workers union member Pat Peralta holds a sign during a protest rally against Mitt Romney, who is making a campaign stop at Ford Field in Detroit, Michigan, February 24

mlive.com

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You can watch Willard’s speech in the PACKED stadium here (12:0 ET)

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Watch how those 65,000 people can barely control their excitement in anticipation of Willard’s arrival:

And watch how they erupt when he appears – Mitt Mania!

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Freep.com: It won’t be hard to fit 1,200 members of the Detroit Economic Club into 65,000-seat Ford Field for today’s speech by GOP presidential hopeful Mitt Romney.

What will be hard is making it look like Romney isn’t speaking to a nearly empty stadium.

The Romney campaign and the Economic Club think they’ve solved the problem. The guests will be seated at one end of the playing surface, roughly between the end zone and the 30-yard line, while Romney will speak from a stage in front of them.

More here

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Thanks for the Mitt pic Lamh!

24
Feb
12

rise and shine

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Comedian Bill Maher announced last night that he will donate one million dollars to President Obama’s re-election campaign.  At the end of his groundbreaking comedy special, “CrazyStupidPolitics: Live from Silicon Valley,” which streamed live on Yahoo!, Bill brought out a check, making a personal donation of one million dollars to Obama’s Super PAC, Priorities USA Action. He explained that having a country governed by Barack Obama rather than any of the Republican candidates is “worth a million dollars” and that in his own financial interests, “this is the wisest investment I think I could make.” He also encouraged other wealthy liberals to do the same and give until it hurts.

More at Mediaite

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Washington Post (Editorial): Run to the extreme in the primary, move to the center in the fall: That’s expected. But moving from the cartoon world the Republican presidential candidates have constructed back into three dimensions might prove more difficult.

In their debate Wednesday night, the remaining candidates seemed to be continuing their drift from reality – the reality of a center-right electorate they propose to woo and govern, and of the complexities of the problems they promise to solve.

…. From his perch of thorough hypocrisy – Paul is a master earmarker who preserves his purity by voting against appropriations bills he knows will pass – the Texas congressman declared: “I don’t accept that form of government.”

And, of Santorum, “He is a fake.” No, what’s fake is the two-dimensional canvas they’re presenting to voters.

Full editorial here

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TPM: Mitt Romney’s got a problem. Purple Strategies released their “Purple Poll” on Thursday, data from twelve swing states … “His favorable ratings are just atrocious,” Doug Usher, a managing partner at Purple Strategies said. “You can’t be sitting on 27 percent favorability in the general,” the level Romney is at in their new numbers.

“The best thing that Mitt Romney could actually do is actually run a campaign that said something,” Bruce Haynes, one of the founding partners of Purples Strategies and a veteran of GOP campaigns, told TPM. “It’s a Seinfeld campaign. It’s a campaign about nothing….”

More here

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Robert Shrum: Mitt Romney is pandering so desperately to the far-right fringe that he’s become all but unelectable in November …. As he demonstrated in this debate, he’s so desperate to pander his way to the nomination that he’s making it increasingly worthless.

This may do for the primary – it may be essential – but it’s a disaster in the making for the fall campaign. Romney’s cynical hope has to be that his shape-shifting will convince voters he doesn’t really mean this stuff. He can pray that his character weakness is his saving grace – that his reputation for lying about his beliefs will pull him back from the edge of a gender gap that will otherwise pose an unbridgeable barrier to the White House. The longer the primaries drag on, and the more he has to profess his hostility to women’s rights, the less likely it is that he can ever convince the majority who are women to take a chance on him.

…. From Oklahoma to Ohio, which both vote on March 6, and then onto Wisconsin and across the Midwest, Romney is well behind Santorum in the polls. He will have to keep pandering – and above all, right now, he has to win Michigan.

In the Arizona debate, he may have staunched his bleeding in the primaries, but he opened his veins for November.

Full article here

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Martin Bashir: “Newt Gingrich said he’s going to take oil prices down to $2 or $2.50 – the only thing that Newt Gingrich is very skilled at doing is taking his underpants down in the form of the number of adulteries that this man commits.”

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Steve Rattner (NYT): …. As a presidential aspirant, Mr. Romney evidently hasn’t felt a need to be consistent or specific as to what should have been done to address the collapse of the auto industry starting in late 2008. But the gist is that the government should have stayed on the sidelines and allowed the companies to go through what he calls “managed bankruptcies,” financed by private capital.

That sounds like a wonderfully sensible approach – except that it’s utter fantasy. In late 2008 and early 2009, when G.M. and Chrysler had exhausted their liquidity, every scrap of private capital had fled to the sidelines.

I know this because the administration’s auto task force, for which I was the lead adviser, spoke diligently to all conceivable providers of funds, and not one had the slightest interest in financing those companies on any terms. If Mr. Romney disagrees, he should come forward with specific names of willing investors in place of empty rhetoric. I predict that he won’t be able to, because there aren’t any.

Full article here

Thanks Africa

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A source tells National Confidential that 26 American cars will be arranged by the United Auto Workers to echo Mitt Romney’s infamous “let Detroit go bankrupt” op-ed when he visits Ford Field on Friday. The cars will be on top of a parking garage right across from Ford Field where Romney will be giving a speech to the Detroit Economic Club.

More here

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The Week

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Morning everyone 😉

23
Feb
12

evening all

People reach out to grasp hands with President Obama after he spoke at the University of Miami, February 23

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Biltmore Hotel in Coral Gables, Fla

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First Lady Michelle Obama views The Slave Pen exhibit while touring the National Underground Railroad Freedom Center in Cincinnati, Ohio, Feb. 23. Pictured, from left, are: Dina Bailey, Associate Curator of the National Underground Railroad Freedom Center; Cincinnati Mayor Mark Mallory; Verna Williams; and Allison Singleton. (Official White House Photo by Sonya N. Hebert)

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Friday:

11:15 AM: PBO attends the Democratic Governors’ Association meeting.

3:00 PM: PBO holds a bilateral meeting with Prime Minister Helle Thorning-Schmidt of Denmark.

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More photos from Miami:

Denver Post

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ThinkProgress

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Greg Sargent: It’s becoming clearer and clearer that the auto bailout will be central to Campaign 2012’s argument over government and the economy, and Pew Research releases some striking numbers….

The latest national survey …finds that 56% say the loans the government made to GM and Chrysler were mostly good for the economy, while 38% say the loans to the automakers were mostly bad for the economy.

Opinion about the auto loans has reversed since October 2009. At that time, just 37% said the loans were mostly good for the economy while 54% expressed negative views…..

…. independents think the auto bailout was good for the economy by a wide margin, 54-40. Even moderate/liberal Republicans agree, 57-39. And Pew tells me that non-college-degree whites – a key swing constituency that will be pivotal in the Rust Belt states – also agree, 51-40.

More here

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Mother Jones

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ThinkProgress: Earlier this month, the nation was barraged with media coverage of the Catholic Bishops’ opposition to regulations promulgated under the Affordable Care Act protecting working women’s access to contraception. The loudness of the bishops’ complaints ….  easily could have conveyed the misimpression that churches and other religious groups are at odds with the Affordable Care Act.

On Friday, however, a broad coalition of religious organizations filed an amicus brief supporting the Affordable Care Act’s Medicaid expansion that should give the lie to any claim that the faith community opposes the ACA …. the brief’s signatories include a wide range of Catholic groups….

More here

Thanks Loriah

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ThinkProgress: As further proof that conservative efforts to paint President Obama as the enemy of religion are a red herring, nearly two dozen leading Catholic nuns filed a brief in the Supreme Court last week supporting the president’s signature legislative accomplishment. The Catholic sisters who joined the brief include the leaders of many prominent religious orders providing health care and other services to the needy…

More here

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Full interview here

Thanks CTGirl

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Thanks Edwina

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The Clowns:

Esquire

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