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OBAMA’S PROGRESS ON ECONOMY

Economy

Progress

Guiding Principles

President Obama’s central focus is on stimulating economic recovery and helping America emerge a stronger and more prosperous nation. The current economic crisis is the result of many years of irresponsibility, both in government and in the private sector. As we look toward the future, we must confront the many dimensions of this crisis while laying the foundation for a new era of responsibility and transparency.

Creating Jobs

President Obama’s first priority in confronting the economic crisis is to put Americans back to work. The American Recovery and Reinvestment Plan signed by the President will spur job creation while making long-term investments in health care, education, energy, and infrastructure. Among other objectives, the recovery plan will increase production of alternative energy, modernize and weatherize buildings and homes, expand broadband technology across the country, and computerize the health care system. The recovery plan will save or create about 3.5 million jobs while investing in priorities that create sustainable economic growth for the future.

Keeping Americans in Their Homes

Millions of hard-working, responsible families are at risk of losing their homes as home prices fall and jobs are threatened. The Making Home Affordable Refinancing program will expand access to refinancing for up to 4 to 5 million families who are current on their mortgages but otherwise unable to refinance because their homes have lost value. The Making Home Affordable Modification program has a $75 billion commitment to support loan modifications so that up to 3 to 4 million borrowers at risk of foreclosure can keep their homes. President Obama’s programs to prevent foreclosures will help bolster home prices and will provide direct support to up to 9 million homeowners to refinance for lower payments or have their mortgages modified to prevent foreclosure. President Obama also launched MakingHomeAffordable.gov, where borrowers can learn basic facts about mortgages, homeownership, and resources available.

Bringing Stability to Financial Markets

This crisis has taught us the real impact that financial markets and institutions can have on working families. President Obama has worked to get credit flowing again so that small businesses can rebuild and hire workers and families can afford to send their children to college. At the same time, the President has demanded accountability and transparency both on Wall Street and in Washington, taking steps to ensure that banks use taxpayer assistance to support lending and create sustainable economic growth. For the long term, the President will create a new regulatory framework that holds market players responsible for their actions and stops fraudulent practices before they take hold.

3 Responses to “OBAMA’S PROGRESS ON ECONOMY”

  1. JayTeaKay
    November 22, 2009 at 11:20 am

    I read your bulleted list of Obama economic incentives but see none whatsoever. It might as well be a blank page. Let me explain why by way of a story.

    I once worked as a technician at a national science laboratory in Los Alamos, N.M. A fellow technician, one whose ethnic background had been more influential in procuring his employment than was his technical background, asked me a question regarding energy sources. “Why is it that no one has thought to put small windmills on automobiles so that they will generate extra electricity as the car moves?” I couldn’t help a sideways smirk as I answered, “That would increase the car’s wind resistance and weight while losing energy to the wind generator’s inherit inefficiency.” My perplexed co-worker replied, “So what?” I had to let my composure slip a bit while answering, “You’d just end up using more gasoline to run a heavier, less aerodynamic automobile at lower speeds, resulting in a huge energy waste.”

    Now before you get all bothered and call me a racist, I must explain what this has to do with Obama’s economic “incentives”.

    Obama or the government uses as “fuel” taxpayer generated funds. The business owner or worker expends work in generating the “fuel” and filing a tax return which is then processed by a government agency again “fueled” by taxes. Our highly paid, highly inefficient congress and government bureaucracy then decide where the “fuel” is to be spent or “burned”. The money then goes through one of many historically corrupt, taxpayer “fueled” agencies which then gives it to some relative, friend or crony. This guy, while perhaps “burning” some “fuel” on actual business generating activities, “burns” much of the “fuel” by contributing it in the form of campaign funds to the politician who came up with the “brilliant” bulleted “incentive” items.

    What has happened to the U.S. economy is that the stupid “windmill” placed by the government on the hood of every American business’ “automobile” has gotten so big that it has ground all forward motion to a halt.

    And now you say you want more “windmills”?

    Give me a break!

    #388
  2. Ilias
    November 24, 2009 at 2:31 pm

    Hi there,
    Thank you! I would now go on this blog every day!
    Thanks
    Ilias

    #394

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