Tuesday, April 28, 2009
Swine flu creates controversy on Twitter
Wednesday, April 1, 2009
Obama at 66 percent, Michelle at 76 percent
is handling the economy. Fifty-two percent approved of the president's approach to the deficit.
As Obama Takes First Overseas Trip, More See U.S. Image Abroad Improving
With Barack Obama on his first presidential trip overseas, far more Americans now say the United States' image abroad is improving rather than worsening, a sharp turnaround from views under George W. Bush. But significant international challenges face Obama – including skepticism at home about negotiations with Taliban elements in Afghanistan.
Obama gets 62 percent approval for handling international affairs overall, and just 14 percent say the United States' image is worsening under his presidency – down from 61 percent under Bush in late 2003. Instead 43 percent now say the United States' image is improving, up from 10 percent under Bush. The rest say it's staying the same.
GM's future at stake as Obama's team steps in
http://www.dreamhost.com/r.cgi?2111269|SWA227
President Obama left a big question mark over the future of the U.S. auto industry Monday when he made it clear he is willing to offer limited aid to General Motors and Chrysler but warned they must restructure much faster or end up in bankruptcy court.
Obama takes step over the line that separates government from private industry
FACTBOX: Obama's presidential debut on world stage
WASHINGTON (Reuters) - U.S. President Barack Obama will make his debut on the world stage this week with his first major foreign trip since taking office on January 20.
Here are some details of his travels plus his objectives for each leg:
G20 SUMMIT - LONDON
Obama's first stop: an April 2 summit of the Group of 20 top economies, a follow-up to a meeting hosted by predecessor George W. Bush, to tackle the global economic crisis.
Obama, who has pledged to repair America's image abroad after eight contentious years under Bush, will set the tone for his administration's relations with the rest of the world even as he is tested in his first encounter with global summitry.
He "is going to listen in London, as well as to lead," said White House spokesman Robert Gibbs.
In the final run-up to the trip, Obama's aides seemed to back away from earlier calls for other G20 countries to act quickly to ramp up spending to match the United States. The White House said Obama would not seek specific commitments.
European leaders, reluctant to build up more debt, had already spurned the idea and made clear they wanted to make a top priority of overhauling global financial regulations.
Obama will meet British Prime Minister Gordon Brown and Queen Elizabeth on Wednesday before the summit. Talks with Chinese President Hu Jintao and Russian President Dmitry Medvedev will be watched for how he handles two world powers whose relations with Washington have often been tense.
Obama tells allies that public supports his agenda
WASHINGTON (AP) — Reassuring House Democrats that "we are in this together," President Barack Obama predicted that unity will help their party maintain its high standing with the public as they pursue an ambitious agenda in the face of economic turmoil.
The House and Senate are set this week to take up companion budget outlines that constitute Congress' initial response to the $3.6 trillion fiscal plan for 2010 that Obama proposed last month.
On the eve of his first trip to Europe, the president rallied lawmakers Monday in a closed-door session in the Capitol. He said they must deal with education, health care and clean energy in spite of the weak economy.
Obama said the reason his budget predicts such large deficits is not because of new spending for those three top agenda items but because of structural deficits that he inherited.
Speaking to fiscal hawks in the House, Obama said he is "serious as a heart attack" about addressing the nation's long-term deficit problems, according to notes taken by a House aide who required anonymity to describe the private session.
"We are in this together," Obama said.
Rep. Chris Van Hollen, D-Md., said Obama said his administration remains focused primarily on the economy but added that "'we can do more than one thing at a time.'"
Obama appeared before Senate Democrats last week, where he received supportive questioning as moderates queasy over big deficits and rapidly rising debt held their tongues.
Thursday, February 26, 2009
Barack Obama says No more tax sops for outsourcing firms – its significance
A consultant specializing in services, products & marketing - Sabapathy is a rainmaker for technology and telecommunication start-ups. Sabapathy writes on software trends, issues, producteering and services.
I can understand Obama’s standpoint. It is the trade union folks who campaigned so very effectively for Obama and they are to be protected, but it goes against all the principles and policies that America has stood for all these years. America has always been a proponent of free enterprise and globalization. After all, it is a country built by immigrants by and large. All of this is changing because of the protectionist attitude showcased now.
Sample these comments from Marc Faber on the US economy.
“The federal government is sending each of us a $600 rebate.
If we spend that money at Wal-Mart, the money goes to China.
If we spend it on gasoline it goes to the Arabs.
If we buy a computer it will go to India.
If we purchase fruit and vegetables it will go to Mexico, Honduras and Guatemala.
If we purchase a good car it will go to Germany.
If we purchase useless crap it will go to Taiwan and none of it will help the American economy.
The only way to keep that money here at home is to spend it on prostitutes and beer, since these are the only products still produced in US.
I’ve been doing my part.”
These are really extraordinary times for the Americans as well as the President but these cutbacks on tax sops are an extreme step. This is more a populist move that we are used to in Indian politics. Let us dwell on how this affects Indian corporations. I would say that the effect will be huge, because close to 50% of the Indian service exporters revenue comes from the US and it is 50% of $100 billion economy that we are talking about and the impact necessarily will be huge.
Outsourcing in India may take a beating due to Obama's tax policies
Zeenews Bureau
New Delhi, Feb 25: Outsourcing to India will take a beating as US President Barack Obama, while addressing the Joint Session of US Congress on Tuesday night, said in his maiden speech that the economic revival plan would translate to no tax breaks for American companies which offshore jobs.
India Inc is quite disappointed with the same as this package nips in the bud any potential plans for prospective US companies which might have thought of investing in India.
The reaction that emanated from India had a disappointing tone. Several noted industrialists condemned the speech and said that it could spell doom for the BPO industry here.
But the Secretary General of India’s apex industry chamber FICCI Amit Mitra added that Obama’s tax policy will also “hurt American companies”.
With Tuesday’s announcement America’s first Black President set to rest all speculation that he may soften his stand on the issue of outsourcing.
In his address, the President also remarked that he will also end tax breaks given to America’s wealthiest by the Bush government. However he clarified that this would not affect main street America and downwards.
"Let me (be) perfectly clear, because I know you'll hear the same old claims that rolling back these tax breaks mean a massive tax increase on the American people. If your family earns less than USD 250,000 a year, you will not see your taxes increased a single dime," he said.
Tuesday, February 24, 2009
Obama Troop Withdrawal Plan Expected Soon
President Obama could outline his concrete plan for withdrawing troops from Iraq as early as this Friday, when he travels to North Carolina to give a speech, an administration official said Tuesday.
White House officials pushed back at reports that Obama had already decided to remove all combat troops by August of 2010, saying the president was still holding meetings with military leaders on the necessary strength of the U.S. forces. The Associated Press reported that Obama had decided to end the war 19 months into his administration, which would be three months later than he promised during the presidential campaign.
But administration officials -- while remaining noncommittal -- said Obama was getting close to making his final plans, and said the expected a decision and announcement in the next few days.
Posted at 7:34 PM ET on Feb 24, 2009 | Category: National Security
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Obama says all will have to sacrifice with budget
WASHINGTON (AP) — President Barack Obama says his budget will not solve every problem, and Democrats and Republicans will have to make some sacrifices.
In excerpts of his speech to Congress on Tuesday, Obama said he will submit a budget this week that he sees as a vision for America and a blueprint for the future.
He says the budget will reflect the harsh reality of the worst economic crisis since the Great Depression, one that he inherited from his predecessor, Republican George W. Bush.
Faced with recession and a trillion-dollar deficit, members of both parties will have to sacrifice some worthy priority. He included himself in that group.
In a rebuke to Republican critics, Obama said he rejects the view that the nation's problems will take care of themselves, that government has no role in pursuing a common prosperity.
A Strong Preaction to Obama's Speech
President Obama has been known to fire up a crowd. But until yesterday, none of the places where he was speaking actually caught on fire.
This changed just before 5 p.m., when smoke began billowing out of an office just off the Senate chamber, down the hall from the House chamber where Obama was to give his first annual address to Congress. Lawmakers braving the smoky corridor to investigate learned that it was a problem with the fireplace in the minority whip's office.
"What's this all about?" Senate Majority Leader Harry Reid demanded as he passed through the haze.
Reid should have already known: Strange and magical things happen whenever Obama is around.
Of course, a president's appearance before a joint session of Congress is always a big deal; even President Bush, at 30 percent support in the polls, was mobbed by well-wishers when he walked onto the House floor.
But this time it's a new president, a highly popular one, and a former senator to boot. Lawmakers went gaga
Jindal to criticize stimulus in GOP response to Obama
Tapped by the Republican party to deliver the GOP's response to President Barack Obama's congressional address Tuesday night, Louisiana Gov. Bobby Jindal plans to take on the massive stimulus package and emphasize that the U.S. economy can recover.
Louisiana Gov. Bobby Jindal will give the GOP response to President Obama's address Tuesday.
"To solve our current problems, Washington must lead," Jindal will say, according to excerpts of his speech released by the Republican National Committee. "But the way to lead is not to raise taxes and put more money and power in the hands of Washington politicians. The way to lead is by empowering you, the American people, because we believe that Americans can do anything."
Obama, in his first speech to a joint session of Congress, is expected to discuss the stimulus and lay out a plans to beat the financial crisis.
9 ET tonight on CNN
Jindal has been a vocal critic of the $787 stimulus package, highlighting what he says is waste at a White House meeting with governors on Monday. He spoke to a large group of reporters after the session Monday, noting items such as $1 billion in added spending for the national census and $50 million in federal spending for the arts.
Jindal, seen as a possible contender for the 2012 GOP presidential nomination, has announced plans to reject $100 million of stimulus funding for his state, saying it would require Louisiana to change its unemployment laws. Several other governors have expressed similar concerns.
Thursday, February 19, 2009
9 Bailout Surprises From GM and Chrysle
Back in December, economist Mark Zandi of Moody’s Economy.com told Congress that bailing out the Detroit automakers could ultimately cost $75 billion to $125 billion. So when GM and Chrysler asked for a mere $17.4 billion late last year, it seemed like a bargain.
Then GM got another billion or so as part of a bailout for its car-financing arm, GMAC. And now, GM and Chrysler have asked for almost $30 billion more from a variety of programs, pushing the total for just these two companies close to $50 billion. That doesn’t include Ford, which many analysts think will end up asking for nearly as much federal aid as GM.
[See why Ford is veering closer to a bailout.]
Surprised? Get used to it: Deepening gloom has become a recurring theme of Bailout Mania, as troubled firms dribble out their bad news in droplets and everything turns out worse than expected. Here are some of the major surprises contained in the “viability plans” submitted to the government by GM andChrysler:
Both need way more money than previously acknowledged. In its 117-page viability plan, GM says it expects to burn an astounding $18 billion in cash in 2009, one reason it may need a total of $30 billion from the government by 2011. Chrysler says it will have to declare bankruptcy by March 31 if it doesn’t get an extra $11 billion in government aid, for a total of more than $15 billion. At this point, it seems prudent to assume that they’ll need billions more after that.
College Is Possible for Students With Intellectual Disabilities
Unlike students who pull all-nighters and cram before exams, Mount Aloysius College student Katie Apostolides has been working diligently in preparation for midterms since her first day of class. She starts papers and projects the day they are assigned, meets weekly with a different peer tutor for each of her classes, and knows to take short breaks throughout her studying in an effort to stay focused and on task. These and other strategies help Apostolides learn at a collegiate level in spite of her Down syndrome, an intellectual disability.
If Apostolides passes her classes this semester, she will receive her associate's degree. But Apostolides's success in college is the exception rather than the rule for students with Down syndrome and other intellectual disabilities. According to preliminary results of an ongoing Department of Education study, fewer than one quarter of students with intellectual disabilities have participated in some type of postsecondary education. None has completed a degree. There is hope, however, that this will change. New initiatives started late last year will, for the first time, identify, fund, and disseminate information about programs nationwide that help intellectually disabled students gain access to college.
To date, leaders in the field know of about 150 programs, which vary significantly in rigor and structure. The ThinkCollege.net website provides basic information about each known program, but because of provisions in the Higher Education Opportunity Act (which was reauthorized by Congress last summer) and two multimillion-dollar federal grants awarded in December 2008, the number of known programs, the number of high-quality inclusive programs, and the depth of knowledge about both is set to expand dramatically. Not only does the HEOA allow students with intellectual disabilities to qualify for Pell Grants, Supplemental Educational Opportunity Grants, and the Federal Work Study Program for the first time, it also establishes a new grant program that will fund the development of programs tailored specifically to college students with intellectual disabilities across the country.
The Student's Guide to Beating the Recession
▶ Q: How will the recession affect my scholarship?
▶ Q: I really need a scholarship next year. What can I do?
▶ Q: How about my graduate school loan?
▶ Q: How is the recession affecting international students who need to borrow?
▶ Q: How is the recession affecting my college?
▶ Q: How are colleges responding?
▶ Q: How will the recession affect my college experience and education?
▶ Q: How will it affect my chances of getting into college next year?
▶ Q: But I really want a college education! Where can I go?
How the Stimulus Helps You Pay for College
The government is poised to spend about $13 billion in stimulus funds on improvements to education tax credits that will offset up to $2,500 in college costs for millions of low- and middle-income families. But the changes probably won't immediately stimulate the economy or make much of a difference to the many families now living paycheck to paycheck, tax experts say.
Other education provisions in the stimulus bill, such as a several-hundred-dollar increase in the Pell grant, the biggest federal grant awarded to low-income students, have won bipartisan support. The education tax changes are more controversial, though, and have drawn criticism from some education organizations for their high costs and comparatively small impact.
Congressional Democrats defended all aspects of the stimulus bill, including the education tax breaks. "For the first time, Congress is making these tax cuts refundable, which means that even if people don't earn enough to pay taxes, they are still eligible for a refund. We also simplified the process by combining two existing tax credits, which will make the tax credit less confusing for eligible students. Both the tuition tax credit and the significant boost in the Pell grant scholarship will be a huge help for low-income and middle-class families struggling to pay for college," says Melissa Salmanowitz, press secretary for the House Education and Labor Committee.
And while the education tax break didn't quite match up to President Barack Obama's campaignpromise of a $4,000 credit payable when bills come due (instead of making students wait for tax refunds) in return for public service, the administration said it was happy with the provision. "This is a good step forward, and we will look at ways we can take the next step," said a spokesman for the Department of Education.
7 Steps to Finding the Right Credit Counselor
7 Steps to Finding the Right Credit Counselor
I don't know about you, but the collapse of the economy and stock market has made my financial plan look a lot like a piece of Swiss cheese that has seen better days - yellowing, curling up at the edges, and definitely giving off a bad odor. Sadly, millions of us seem to be facing Swiss-cheese financial futures these days.
If you're in that camp, perhaps a trip to your friendly neighborhood consumer credit counselor would be a good idea. Having someone other than your Uncle Lou take a look at your finances could be a godsend. A good counselor has seen lots of people like you before, and has developed solid suggestions on how you can overcome your current problems - and perhaps a wee bit of financial paralysis. A counselor can help you build a new financial plan that reflects current economic realities and is right for you. Finding the right counselor may be far easier said than done. Here are some steps to help increase your odds of sitting across the table from someone who just might make your life a lot easier:
The Obama Housing Fix: 5 Things to Know
A week after Treasury Secretary Timothy Geithner's plan to resurrect the financial system landed with a thud, President Barack Obama called his own number Wednesday to unveil the new administration's ambitious effort to rescue the housing market. In a speech in Arizona--a state that had the nation's third-highest foreclosure rate in January--Obama detailed a multipronged initiative that aims to enable up to nine million families avoid foreclosure, while halting the drop in home prices by as much as $6,000 a house. "In the end, all of us are paying a price for this home mortgage crisis. And all of us will pay an even steeper price if we allow this crisis to deepen," Obama told the audience. "But if we act boldly and swiftly to arrest this downward spiral, every American will benefit." Here are the five things you need to know about the Obama housing fix:
1. Refinance mortgages: Here's a key obstacle to extricating the nation from the current mortgage mess: Although mortgage rates are near historic lows, the home owners with the greatest need to access the lower rates aren't able to benefit from them. One reason for this is that Fannie Mae and Freddie Mac--which own or guarantee a huge chunk of the mortgage pie--typically can't guarantee refinancing for home loans that are valued at more than 80 percent of the property's value. And with home prices plunging, an increasing number of homeowners fall outside these parameters. The Obama plan would scrap this restriction, enabling as many as five million people with mortgages owned or guaranteed by Fannie and Freddie to refinance into lower-cost loans, the president said.
India concerned by Pakistan's truce with militants
India concerned by Pakistan's truce with militants
February 20, 2009
India's main Hindu nationalist group, the opposition Bharatiya Janata Party, said Wednesday that national security was at risk because of well-entrenched militants operating in Pakistan's Swat Valley, within a five-hour drive of Amritsar, an Indian city of 1.5 million people.
"Taliban at India's Door," blared a sensational headline on the Times Now 24-hour, one of India's hyperactive TV news channels.
Accusations and mutual distrust have marked the India-Pakistan relationship for most of the six decades since the end of British colonial rule.