The video might takes some time to load but its worth the wait. If you are bored just his replies (which I don't think you will), jump straight away to the last 5min of the video. :)
Showing posts with label Obama. Show all posts
Showing posts with label Obama. Show all posts
Pay particular attention from 15:15 onwards :)
Visit msnbc.com for Breaking News, World News, and News about the Economy
Since last Friday, you have been seeing a lot of headlines about the gigantic $787 billion economics stimulus package after it has been approved by the Congress, finally.
What does that package actually do and what impact will it creates? A site which I frequently visit has a good, nice, simple and clear explanation of the package.
Credits to About.com.
What does that package actually do and what impact will it creates? A site which I frequently visit has a good, nice, simple and clear explanation of the package.
Credits to About.com.
The plan has seven components:
Immediate Relief for Families
This will cost $260 billion over 10 years.- Cut taxes by $400 for individuals and $800 for families.
- A payment of $250 to recipients of Social Security, veterans pension and SSI benefits.
- $70 billion to continue the AMT tax shelter.
- Greater access to child tax credit for working poor and expand earned-income tax credit to families with three children.
- A $2,500 college tuition tax credit.
- $8,000 tax credit for first-time homebuyers in 2009.
- Car buyers could deduct the interest on new car loans.
- Extension of unemployment benefits and suspension of taxes on those benefits through 2009.
Modernize Federal Infrastructure
- $46 billion for transportation and mass transit projects.
- $31 billion to modernize federal buildings.
- $6 billion in water projects.
Increase Alternative Energy Production
- $17 billion in renewable energy tax cuts.
- $5 billion to weatherize homes.
Expand Health Care
- $24 billion to subsidize COBRA benefits for laid off workers.
- $87 billion to help states with Medicaid.
- $10 billion to National Institute for Health
- $17 billion to modernize health information technology systems.
Improve Education
- $54 billion to school districts and states.
- $21 billion for school modernization.
- $17 billion to boost Pell Grants.
- $13 billion for Head Start.
- $12 billlion for special ed programs.
Invest in Science Research and Technology
- $10 billion for science facilities.
- $4 billion to increase broadband infrastructure.
- $4 billion for physics and science research.
Help Small Businesses
- $54 billion to help small businesses through a variety of tax incentives and write-offs.
Obama increased spending from the $190 billion plan he proposed earlier, after realizing that dramatic and aggressive action is needed to stem the economic crisis. Some components of that plan, such as enacting a foreclosure moratorium, have already been implemented by Fannie Mae. Others, such as eliminating taxes for seniors making up to $50,000, are still part of Obama's economic agenda elsewhere.
Obama's biggest challenge is to create enough of an economic stimulus to soften the recession, but not big enough to create further doubts about the ballooning Federal Debt, now over $10 trillion. In fact, the package includes legislation to raise the debt limit to $12 trillion.
How Will the Plan Work?
Obama's tax rebates will encourage consumer spending, although many doubt that it is enough. The stimuli for businesses will help revitalize the economy, especially helping small businesses. The state aid will help keep them from having to either raise property taxes or cut needed services. The public works construction will retain or add 3 million jobs, and lower transportation costs. All incentives should be removed once the danger is over to reduce the deficit and avoid future inflation.
President Obama Speaks to House Democratic Caucus: "The American people are watching"
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Once again Mr Obama delivered yet another remarkable speech to show his anger to answer the critics of his Administration's "American Recovery and Reinvestment Act".
Quoting one of his sentences in the speech, "But what I have also said is – don’t come to table with the same tired arguments and worn ideas that helped create this crisis.", Mr Obama clearly leads by example doing the "CHANGE" that he preached so often during his election campaign and the one which partially led to his election victory.
Quoting one of his sentences in the speech, "But what I have also said is – don’t come to table with the same tired arguments and worn ideas that helped create this crisis.", Mr Obama clearly leads by example doing the "CHANGE" that he preached so often during his election campaign and the one which partially led to his election victory.
Visit msnbc.com for Breaking News, World News, and News about the Economy
WASHINGTON: President-elect Barack Obama has chastised US auto executives for being "tone deaf" for flying on corporate jets to Washington to beg for bailout money, and said he believed bank executives should forgo their end-of-year bonuses.
In the advanced excerpt of an interview to be broadcast Wednesday and released by ABC News late Tuesday, the president elect focused on responsibility.
Bank executives forgoing bonuses is "an example of taking responsibility," Obama said.
"If you are already worth tens of millions of dollars, and you are having to lay off workers, the least you can do is say, 'I'm willing to make some sacrifice as well', because I recognize that there are people who are a lot less well off, who are going through some pretty tough times ," Obama told ABC News.
As for the incident in which the heads of Ford, Chrysler and General Motors flew their private jets to Washington last week to ask Congress for bailout money, Obama said: "I thought maybe they're a little tone deaf to what's happening in America right now."
He described it as "a chronic problem, not just for the auto industry ... (but) for the captains of industry generally.
"When people are pulling down hundred million dollar bonuses on Wall Street, and taking enormous risks with other people's money, that indicates a sense that you don't have any perspective on what's happening to ordinary Americans," Obama said.
And when the "auto makers are getting paid far more than their counterparts at Toyota, or at Honda, and yet they're losing money a lot faster than Japanese auto makers are, that tells me that they're not seeing what's going on out there."
Obama said he hoped his presidency will help "usher in ... a return to an ethic of responsibility. That if you're placed in a position of power, then you've got responsibilities to your workers. You've got a responsibility to your community. Your shareholders."
He added: "And that's true ... for members of Congress, that's true for the president, that's true for cabinet members, that's true for parents.
"I want all of us to start thinking a little bit more, not just about what's good for me, but let's start thinking about what's good for our children, what's good for our country. The more we do that, the better off we're going to be," he said.
Source.
Mr Obama might prove to be a really really good and down-to-earth US President we have seen in recent years.
In the advanced excerpt of an interview to be broadcast Wednesday and released by ABC News late Tuesday, the president elect focused on responsibility.
Bank executives forgoing bonuses is "an example of taking responsibility," Obama said.
"If you are already worth tens of millions of dollars, and you are having to lay off workers, the least you can do is say, 'I'm willing to make some sacrifice as well', because I recognize that there are people who are a lot less well off, who are going through some pretty tough times ," Obama told ABC News.
As for the incident in which the heads of Ford, Chrysler and General Motors flew their private jets to Washington last week to ask Congress for bailout money, Obama said: "I thought maybe they're a little tone deaf to what's happening in America right now."
He described it as "a chronic problem, not just for the auto industry ... (but) for the captains of industry generally.
"When people are pulling down hundred million dollar bonuses on Wall Street, and taking enormous risks with other people's money, that indicates a sense that you don't have any perspective on what's happening to ordinary Americans," Obama said.
And when the "auto makers are getting paid far more than their counterparts at Toyota, or at Honda, and yet they're losing money a lot faster than Japanese auto makers are, that tells me that they're not seeing what's going on out there."
Obama said he hoped his presidency will help "usher in ... a return to an ethic of responsibility. That if you're placed in a position of power, then you've got responsibilities to your workers. You've got a responsibility to your community. Your shareholders."
He added: "And that's true ... for members of Congress, that's true for the president, that's true for cabinet members, that's true for parents.
"I want all of us to start thinking a little bit more, not just about what's good for me, but let's start thinking about what's good for our children, what's good for our country. The more we do that, the better off we're going to be," he said.
Source.
Mr Obama might prove to be a really really good and down-to-earth US President we have seen in recent years.
Labels: Obama
A very good and sincere speech by Mr Obama which touched every soul on the ground that day, specifically if you are a woman or a black. As clearly seen in the 2 separate videos of Mr McCain's and Mr Obama's speeches, the latter definitely has an edge over the former on public speaking. The confidence level, the tone and the feelings by Mr Obama was high and sincere.
A very candid and down to earth guy, Mr Obama admitted that things will get tougher and he alone would not be able to overcome them; hence he requested the help from fellow Americans and even the help of Mr McCain, which was a good move. He definitely has the charisma of a leader and vision longer than you expected (He mentioned things might not improve during the next 1 year or 1 term).
Credits to Mr McCain for asking his supporters to move on and support the new President-elect in the future as a nation.
A very candid and down to earth guy, Mr Obama admitted that things will get tougher and he alone would not be able to overcome them; hence he requested the help from fellow Americans and even the help of Mr McCain, which was a good move. He definitely has the charisma of a leader and vision longer than you expected (He mentioned things might not improve during the next 1 year or 1 term).
Credits to Mr McCain for asking his supporters to move on and support the new President-elect in the future as a nation.
Labels: Obama
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