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Economy

Obama stresses US economic potential

2011-01-23

[Arab News] President Barack B.O. Obama said Friday that "putting the economy into overdrive" is a top priority, even as a new poll showed the public giving him poor marks in this area.

Possibly because each thing he is proud of accomplishing hobbled the economy yet another notch. Such a clever man, who thinks we'll all be fooled by his version of "It's the economy, stupid."

The News Agency that Dare Not be Named-GfK poll underscored the selling job that confronts the president as he prepares to seek a second term: People like Obama personally, but just 35 percent say the economy's gotten better during his tenure.

Do people like him personally, or are they just being polite to the nice pollster?

Appearing in Schenectady, New York, on Friday, Obama announced that he was naming General Electric Co. CEO Jeffrey Immelt as the head of a Council on Jobs and Competitiveness, his latest move to court a business community that he's clashed with amid continued high unemployment. Addressing workers at a GE plant, Obama recommitted himself to spending the next two years trying to speed up the economic recovery. His success or failure there is likely to be the central issue of the coming 2012 presidential campaign.

Pass another bill to repeal Obamacare, O House Republicans, or to track down waste from Stimulus I or II, and we'll see what the central issue becomes.

"Our job is to do everything we can to ensure that businesses can take root, and folks can find good jobs," the president said.

True. It's nice to see you doing as much as just talking about it, Mr. President. That's a major improvement on your previous positions on the subject of business.

"We're going to build stuff, and invent stuff," said Obama, emphasizing the need to boost American exports to countries around the world, an issue that was a focus during the visit of Chinese President Hu Jintao to the White House this week.

Remove the impediments you put in place, Mr. President, and American businesses won't need the government to boost anything.

"That's where the customers are. It's that simple," Obama said.

His choice of Immelt to head the competitiveness panel won applause from the Chamber of Commerce, which called it a "promising step" toward creating jobs and enhancing US competitiveness. But the Alliance for American Manufacturing condemned the choice, dismissing Immelt as "an outsourcing CEO" whose appointment would "alienate working class voters." That underscored a fine line for Obama in pushing for growth into the global marketplace while still looking out for the interests of US workers.

The competitiveness panel replaces Obama's Economic Recovery Advisory Board, which had been chaired by former Federal Reserve Chairman Paul Volcker. Obama announced late Thursday that Volcker, as expected, was ending his tenure.

Did they ever actually advise anything?

The change in the advisory board signals Obama's intention to shift from policies that were designed to stabilize the economy after the 2008 financial meltdown, to a renewed focus on increasing employment. The White House says the board's mission will be to help generate ideas from the private sector to speed up economic growth and promote American competitiveness.

Reduce regulations, reduce paperwork, reduce requirements on business employees, Mr. President. There, now you can disband this advisory board, too.

The shift in focus is aimed at winning over a public that remains skeptical of the administration's economic policies. Over half of those surveyed in the AP-GfK poll disapprove of how Obama has handled the economy, and 75 percent rate the economy as poor. However,
The infamous However...
three-quarters do say it's unrealistic to expect noticeable improvements after two years; they say it will take longer.

Mindful of those sentiments Obama told listeners Friday that "it's a great thing that the economy's growing

Is it? There are those who say this is but a false dawn, from the train entering the other end of the tunnel.

-- but it's not growing fast enough." For Obama, the visit to General Electric was also an opportunity to claim credit for tax, trade and energy policies pursued by his administration as the nation attempts to recover from the worst recession since the 1930s. It's the first of many treks during the second half of his term that the president is expected to take to put a more hopeful countenance on the economy amid stubbornly high unemployment.

Yes! It's time to put lipstick on that pig! May I recommend Sparkly Passionate Fuschia, Mr. President?

Or will it just be the usual dollop of Chicago Wheel Grease?

The GE plant is benefiting from a power turbine contract with India announced during Obama's Southeast Asia trip in November. Immelt also has been an advocate of alternative forms of energy, and the GE facility, the company's largest energy plant, is the future site of GE's advanced battery manufacturing program. New battery technology has become something of an Obama pet project as a symbol of innovation, clean energy and job creation.

Immelt's appointment adds another corporate insider to the White House orbit, underscoring the administration's efforts to build stronger ties to the business community.

Earlier this month, Obama named former Commerce secretary and JPMorgan Chase executive William Daley as chief of staff.

Posted by:Fred

#9 ION BAMMER, DEFENCE.PK/FORUMS > THE GORBACHEV PREDICAMENT: HOW OBAMA'S POLITICAL CHALLENGES RESEMBLE GORBACHVE'S. Obama-ism setting the stage for USSR-style implosion of the USA in 21st century???

* SAME > IRAN TO CONSTRUCT FIVE BASES ALONG BORDERS. Iran being organized into five strategic militarys ectors, each wid a major Milbase???

* ISRAEL NN > IRAN: WARSHIPS TO SAIL IN MEDITERRANEAN [+ Red Sea near Israel]. Navy ships will also be charged to "collect intelligence"???

Posted by: JosephMendiola 2011-01-23 23:16

#8 I think any halfway intelligent person can give O'bumble a better plan than he's working on right now:

1. Cut spending. Half or more of it's a waste anyway.
2. Fire the "Czars". They only get in the way and cost far more than they're worth.
3. Reduce taxes, especially those on business and investment.
4. Reduce the regulatory burden. It costs us over $1 trillion a year.
5. Reduce or eliminate most of the burden on developing domestic energy production.
6. Allow more drilling, faster.
7. Speed up the approval for nuclear energy plants.
8. Reduce the regulatory burden on the development of domestic mineral resources.
9. Quit the stupidity of CO2 being a "pollutant".
10. Reduce or eliminate farm subsidies, especially on ethanol.
11. Reduce the power of labor unions and their drag on the economy. Why are the railroads still saddled with a 1942-era Executive Order requiring them to be unionized?
12. Start fighting wars to WIN, not "tied". Build up the national defense structure to where we can fight two wars simultaneously without being totally dependent upon the National Guard and Reserves. We're going to have MORE wars in the future, not fewer.
13. Restore public confidence in the voting process by actually prosecuting voter fraud, instead of sweeping it under the rug.
14. Secure the borders and start cleaning house of all the "undocumented immigrants" - i.e. illegal aliens. We have a process for immigration - strengthen it and ensure it's followed.
15. Cut the size of government by at LEAST one-fourth. We have far too many "civil servants".
16. Stop putting burdens on the states they didn't ask for, and can ill afford.

That didn't even take me five minutes. I'd bet that if these suggestions were implemented, even if only 50% of them were implemented, or if they all were only halfway implemented, our economy would BOOM.

Posted by: Old Patriot 2011-01-23 16:38

#7 So if 3/4 of people say 2 years is not enough time to measure the economy, but barry is out there saying it is good and getting better all the time, puts shades on, then he is of the minority opinion.

Its the problem with the concept continuous ~~campaign~~ human made effort to promote a person for public office, everything must have a happy face on it. Maybe all he did is promise to not start a trade war (everyone must agree something happened, Hu didn't just stop by for apple pie and wine) but even that would be important to US business to know...other than his close affiliates that is. Its like the coach and QB coming up with a play, but not telling anyone else what it is.

Council on Jobs and Competitiveness, sounds like adding people's democratic republic in front of a country's name.

Posted by: swksvolFF 2011-01-23 13:05

#6 This headline requires correction:

Obama stresses US ~~economic potential~~ Economy

Barry is the problem, he has not a clue and he sold US to the Chinese this last week; Immelt - we are all going to Melt; The Daleys, right like I bet Bill has been advising his brother Jim on economic issues in Chicago and Illinois.... real winners there !

We are hopelessly S-K-R-E-W-E-D.

Posted by: Goodluck 2011-01-23 12:21

#5 New Government Spending: Giving more borrowed money to his cronies and leaving the taxpayers with the bill.

Posted by: Deacon Blues 2011-01-23 09:44

#4 #2 I think he's talking about a great leap forward.

Posted by: Matt 2011-01-23 09:35

#3 According to the Wall Street Journal, he definitely means new spending, never mind budget concerns on the other side of the aisle:

President Barack Obama will call for new government spending on infrastructure, education and research in his State of the Union address Tuesday, sharpening his response to Republicans in Congress who are demanding deep budget cuts, people familiar with the speech said.

Mr. Obama will argue that the U.S., even while trying to reduce its budget deficit, must make targeted investments to foster job growth and boost U.S. competitiveness in the world economy. The new spending could include initiatives aimed at building the renewable-energy sectorwhich received billions of dollars in stimulus fundingand rebuilding roads to improve transportation, people familiar with the matter said.

Posted by: trailing wife 2011-01-23 08:57

#2 Do you suppose he means a "five year plan"?

Posted by: g(r)omgoru 2011-01-23 04:32

#1 "putting the economy into overdrive"

Yeah, uh Barry, might want to get it out of reverse before you do that.

Posted by: CincinnatusChili 2011-01-23 01:00

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