Tuesday, January 24, 2012
Full prepared Text. Excerpt Below:
In 2008, the house of cards collapsed. We learned that mortgages had been sold to people who couldn’t afford or understand them. Banks had made huge bets and bonuses with other people’s money. Regulators had looked the other way, or didn’t have the authority to stop the bad behavior.
It was wrong. It was irresponsible. And it plunged our economy into a crisis that put millions out of work, saddled us with more debt, and left innocent, hard-working Americans holding the bag. In the six months before I took office, we lost nearly four million jobs. And we lost another four million before our policies were in full effect.
Those are the facts. But so are these. In the last 22 months, businesses have created more than three million jobs. Last year, they created the most jobs since 2005. American manufacturers are hiring again, creating jobs for the first time since the late 1990s. Together, we’ve agreed to cut the deficit by more than $2 trillion. And we’ve put in place new rules to hold Wall Street accountable, so a crisis like that never happens again.
The state of our Union is getting stronger. And we’ve come too far to turn back now. As long as I’m President, I will work with anyone in this chamber to build on this momentum. But I intend to fight obstruction with action, and I will oppose any effort to return to the very same policies that brought on this economic crisis in the first place.
No, we will not go back to an economy weakened by outsourcing, bad debt, and phony financial profits. Tonight, I want to speak about how we move forward, and lay out a blueprint for an economy that’s built to last – an economy built on American manufacturing, American energy, skills for American workers, and a renewal of American values.
[...]Second, no American company should be able to avoid paying its fair share of taxes by moving jobs and profits overseas. From now on, every multinational company should have to pay a basic minimum tax. And every penny should go towards lowering taxes for companies that choose to stay here and hire here.
Third, if you’re an American manufacturer, you should get a bigger tax cut. If you’re a high-tech manufacturer, we should double the tax deduction you get for making products here. And if you want to relocate in a community that was hit hard when a factory left town, you should get help financing a new plant, equipment, or training for new workers.
My message is simple. It’s time to stop rewarding businesses that ship jobs overseas, and start rewarding companies that create jobs right here in America. Send me these tax reforms, and I’ll sign them right away.
[...]Tonight, I’m announcing the creation of a Trade Enforcement Unit that will be charged with investigating unfair trade practices in countries like China. There will be more inspections to prevent counterfeit or unsafe goods from crossing our borders. And this Congress should make sure that no foreign company has an advantage over American manufacturing when it comes to accessing finance or new markets like Russia. Our workers are the most productive on Earth, and if the playing field is level, I promise you – America will always win.
at 9:51 PM |
For the first few weeks after the spill began in April 2010, BP misled the public about how big it was, and the government repeated BP's estimate without question. And when the government released its own estimate in late May of up to 25,000 barrels per day, that too was controversial—and proved to be far lower than the actual size,which was more like 53,000 barrels of oil per day.
Now, an email released by Public Employees for Environmental Responsibility (PEER) traces efforts to downplay the spill size in the initial weeks back to the White House. The group released a May 29, 2010 email from Dr. Marcia McNutt, the director of the US Geologic Survey and head of the government's Flow Rate Technical Group (FRTG), that was released in response to a Freedom of Information Act request.
at 11:38 AM |
Nelson Rockefeller was not a Conservative. In fact, he was a liberal New York Republican Governor:
Last night Gingrich tried to give the impression that he was a Goldwater supporter. This typical Gingrich double-speak:
"I went to a Goldwater organizing session in 1964. I met with Ronald Reagan for the first time in 1974. I worked with Jack Kemp, and Art Laffer and others to develop supply side economics in the late '70s. I helped Governor Reagan become President Reagan. I helped pass the Reagan economic program and worked with the National Security Council on issues including the collapse of the Soviet Empire," Newt Gingrich said at tonight's debate.
Sounds like he has something to hide:
Newt Gingrich’s consulting firm yesterday released a copy of its 2006 contract with Freddie Mac (FMCC), which covers just one year of his multiple years of service and documents only $300,000 of the $1.6 million he received from the mortgage company.
The Republican hopeful’s first contract -- spanning 1999 to 2002 and worth between $1 million and $1.2 million, according to two people familiar with the agreement -- wasn’t released because officials at the Center for Health Transformation can’t find it, said Susan Meyers, a center spokeswoman who works for the Gingrich campaign. The 2006 contract also applied to 2007, she said, meaning the total value of that contract was $600,000.
“We’re not even sure we signed anything for 2007,” said Meyers.
[...]“Why isn’t Speaker Gingrich disclosing the full extent of his relationship with Freddie Mac?” said Brian Jones, a spokesman for the Romney campaign. “Ultimately this disclosure raises more questions than it actually does answer.”
[...]Surrogates for both candidates traded jabs over Gingrich’s work for Freddie Mac yesterday.
Former Governor Tim Pawlenty of Minnesota and Florida House Speaker-designate Will Weatherford said in a Romney-arranged conference call with reporters that Gingrich needed to provide “transparency” about his work for Freddie Mac.
“We don’t have insight or transparency into what he actually did,” Pawlenty said. He called Gingrich’s claims that lawyers are holding up the release of the contracts “B.S.” and “just nonsense.”
Joseph Curl covered the White House and politics for a decade for The Washington Times:
There is one person — one American among the 300 million of us — who is not to blame for the state of the union. Everyone else, each of you, in some small or large way, bears some share of the blame, but not this guy. Not one little bit.Full article
[...]This guy is Barack Obama. He is not the least bit to blame for the dismal state of the U.S. economy. George W. Bush is, for sure, and that evil Dick Cheney, oh, no doubt. House Speaker John A. Boehner — evil, too — is, of course, to blame. But guess what? So is Senate Majority Leader Harry Reid, House Democratic Leader Nancy Pelosi, and every Democrat in the House and Senate.
Now, President Truman made it very clear: The buck stops with him. No passing the buck for that guy. But Mr. Obama blames everyone but himself. Mr. Bush, he says, left the nation in a ditch, a deep ditch, and he’s been digging out since he took office. And Congress? Those guys are just plain awful, he says. So mean. Wah, they won’t do anything I want done! Mr. Obama feels so sure about it that he’s basing his re-election campaign on bashing Capitol Hill.
[...]Some 48 percent of all Americans — 146.4 million — are considered by the Census Bureau either as “low-income” or living in poverty, up 4 million from when Mr. Obama took office; 57 percent of all children in America now live in such homes.
Since December 2008, a month before Mr. Obama took office, food-stamp use has increased 46 percent. Total spending has more than doubled in just four years to a record high of $75 billion. In 2011, more than 46 million people — about one in seven Americans — got food stamps. That’s 14 million more than when Mr. Obama took office.
Median household income has dropped nearly 7 percent in the last six years, taking inflation into account. What’s more, nearly 20 percent of males age 25 to 34 now live with their parents.
Low- and middle-income Americans 65 and older now hold more than $10,000 in credit card debt, up 26 percent since 2005. The average age of the American car is 10 years; in 1990, it was 6.5 years old (by the way, in 1985, Americans bought 11 million cars; in 2009, less than half that, 5.4 million).
at 9:13 AM |
The largest solar storm for seven years is expected to send a shower of radioactive solar particles racing towards Earth at almost 1,400 miles a second this week, according to NASA.
Solar flares are our solar system's largest explosive events and can last from minutes to hours, according to NASA, releasing up to a billion tons of matter in the process.
NASA says the flare may also spark an unusually large display of auroras, which may be visible at lower latitudes than normal.
at 8:40 AM |
The world has forgotten Tibet, again:
Chinese security forces fired tear gas to break up a protest by Tibetans in the southwest province of Sichuan, an advocacy group said, the latest sign of volatile ethnic unrest in the region.Full article
Reports from advocacy groups earlier said that in a separate clash, coinciding with this week's Chinese New Year celebrations, troops fired on thousands of Tibetans protesting in the same province, killing at least one and wounding more.
Free Tibet, a London-based organization that campaigns for Tibetan self-determination, said in an email that on Monday troops fired tear gas at Tibetan protesters in Meruma township, Aba County, called Ngaba County by Tibetans.
"Tibetans had gathered to protest Chinese oppression on the occasion of Chinese New Year, having decided that they would not celebrate the lunar New Year because of the current repression in Tibet," Free Tibet said.
at 8:12 AM |