Frisco_Slug_Esq
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President Barack Obama ends his first year in office with his to-do list still long and his unfulfilled campaign promises stacked high.
From winding down the war in Iraq to limiting lobbyists, Obama has made some progress. But the president has faced political reality and accepted - sometimes grudgingly - compromises that leave him exposed to criticism. Promises that have proven difficult include pledges not to raise taxes, to curb earmarks and to shut down the Guantanamo Bay detention facility in Cuba by the end of his first year.
"We are moving systematically to bring about change, but change is hard," Obama told a town hall crowd in California. "Change doesn't happen overnight."
That was in March. [1]
President Obama has not held a full news conference at the White House since July 22, the night he said that the Cambridge Police "acted stupidly" in the arrest of Harvard professor Henry Louis Gates. [2]
Retail sales unexpectedly fell in December, leaving 2009 with the biggest yearly drop on record and highlighting the formidable hurdles facing the economy as it struggles to recover from the deepest recession in seven decades.
In another disappointing economic report, the number of newly laid-off workers requesting unemployment benefits rose more than expected last week as jobs remain scarce. [3]
he Commerce Department said Thursday that retail sales declined 0.3 percent in December compared with November, much weaker than the 0.5 percent rise that economists had been expecting. Excluding autos, sales dropped by 0.2 percent, also weaker than the 0.3 percent rise analyst had forecast.
For the year, sales fell 6.2 percent, the biggest decline on records that go back to 1992. [4]
A record 2.8 million households were threatened with foreclosure last year, and that number is expected to rise this year as more unemployed and cash-strapped homeowners fall behind on their mortgages.
The number of households that received a foreclosure-related notice rose 21 percent from 2008, RealtyTrac Inc. reported Thursday. One in 45 homes were sent a filing, which includes default notices, scheduled foreclosure auctions and bank repossessions.
In December, more than 349,000 households, or one in 366 homes, were hit with a foreclosure-related notice. That represents a 14 percent spike from November and a 15 percent jump from December 2008.
Banks repossessed more than 92,000 homes, up 19 percent from November. That increase was likely due to lenders working to clear their books at the end of the year, RealtyTrac said. [5]
Mindful of soaring deficits and an anti-Wall Street mood, President Barack Obama wants a new 10-year tax on the country's largest banks to cover a projected $117 billion shortfall in the government's financial crisis bailout fund.
The president planned to propose Thursday a levy of 15 basis points, or 0.15 percent, on the liabilities of large financial institutions to make sure every dollar spent from the $700 billion Troubled Asset Relief Program to rescue Wall Street firms, auto companies and mortgage holders is either repaid or paid for. Congress would have to approve the tax.
A senior administration official said the tax, which officials are calling a "financial crisis responsibility fee," would apply only to financial companies with assets of more than $50 billion. Those firms - estimated to amount to about 50 institutions - would have to pay the fee even though many did not accept any taxpayer assistance and most others already paid back their government infusions. [6]
Don't Blame Your Government
A big reason why the government is inefficient and ineffective is because Washington has outdated technology, with federal workers having better computers at home than in the office.
...
“The American people deserve better service from their government, and better return for their tax dollars.”
The White House release that included Orszag’s comments said one “specific source” of ineffective and inefficient government is the huge technology gap between the public and private sectors that results in billions of dollars in waste, slow and inadequate customer service and a lack of transparency about how dollars are spent. [7]
A year into his tenure, a majority of Americans would already vote against Pres. Obama if the '12 elections were held today, according to a new survey. [8]
1. Philip Eliot
http://apnews.myway.com/article/20100114/D9D7MDGG0.html
2. Karen Travers
http://apnews.myway.com/article/20100114/D9D7MDGG0.html
3. Martin Crutsinger and Christopher S. Rugaber
http://finance.yahoo.com/news/Retail-sales-fall-apf-1551827594.html?x=0
4. AP
http://finance.yahoo.com/news/December-retail-sales-drop-03-apf-3350007934.html?x=0&.v=9
5. Adrian Sainz
http://apnews.myway.com/article/20100114/D9D7AN7O0.html
6. Jim Kuhnhenn
http://apnews.myway.com/article/20100114/D9D7FIMG0.html
7. Ian Swanson
http://thehill.com/blogs/hillicon-v...efficient-government-on-outdated-technologies
8. Reid Wilson
http://hotlineoncall.nationaljournal.com/archives/2010/01/majority_would.php
From winding down the war in Iraq to limiting lobbyists, Obama has made some progress. But the president has faced political reality and accepted - sometimes grudgingly - compromises that leave him exposed to criticism. Promises that have proven difficult include pledges not to raise taxes, to curb earmarks and to shut down the Guantanamo Bay detention facility in Cuba by the end of his first year.
"We are moving systematically to bring about change, but change is hard," Obama told a town hall crowd in California. "Change doesn't happen overnight."
That was in March. [1]
President Obama has not held a full news conference at the White House since July 22, the night he said that the Cambridge Police "acted stupidly" in the arrest of Harvard professor Henry Louis Gates. [2]
Retail sales unexpectedly fell in December, leaving 2009 with the biggest yearly drop on record and highlighting the formidable hurdles facing the economy as it struggles to recover from the deepest recession in seven decades.
In another disappointing economic report, the number of newly laid-off workers requesting unemployment benefits rose more than expected last week as jobs remain scarce. [3]
he Commerce Department said Thursday that retail sales declined 0.3 percent in December compared with November, much weaker than the 0.5 percent rise that economists had been expecting. Excluding autos, sales dropped by 0.2 percent, also weaker than the 0.3 percent rise analyst had forecast.
For the year, sales fell 6.2 percent, the biggest decline on records that go back to 1992. [4]
A record 2.8 million households were threatened with foreclosure last year, and that number is expected to rise this year as more unemployed and cash-strapped homeowners fall behind on their mortgages.
The number of households that received a foreclosure-related notice rose 21 percent from 2008, RealtyTrac Inc. reported Thursday. One in 45 homes were sent a filing, which includes default notices, scheduled foreclosure auctions and bank repossessions.
In December, more than 349,000 households, or one in 366 homes, were hit with a foreclosure-related notice. That represents a 14 percent spike from November and a 15 percent jump from December 2008.
Banks repossessed more than 92,000 homes, up 19 percent from November. That increase was likely due to lenders working to clear their books at the end of the year, RealtyTrac said. [5]
Mindful of soaring deficits and an anti-Wall Street mood, President Barack Obama wants a new 10-year tax on the country's largest banks to cover a projected $117 billion shortfall in the government's financial crisis bailout fund.
The president planned to propose Thursday a levy of 15 basis points, or 0.15 percent, on the liabilities of large financial institutions to make sure every dollar spent from the $700 billion Troubled Asset Relief Program to rescue Wall Street firms, auto companies and mortgage holders is either repaid or paid for. Congress would have to approve the tax.
A senior administration official said the tax, which officials are calling a "financial crisis responsibility fee," would apply only to financial companies with assets of more than $50 billion. Those firms - estimated to amount to about 50 institutions - would have to pay the fee even though many did not accept any taxpayer assistance and most others already paid back their government infusions. [6]
Don't Blame Your Government
A big reason why the government is inefficient and ineffective is because Washington has outdated technology, with federal workers having better computers at home than in the office.
...
“The American people deserve better service from their government, and better return for their tax dollars.”
The White House release that included Orszag’s comments said one “specific source” of ineffective and inefficient government is the huge technology gap between the public and private sectors that results in billions of dollars in waste, slow and inadequate customer service and a lack of transparency about how dollars are spent. [7]
A year into his tenure, a majority of Americans would already vote against Pres. Obama if the '12 elections were held today, according to a new survey. [8]
1. Philip Eliot
http://apnews.myway.com/article/20100114/D9D7MDGG0.html
2. Karen Travers
http://apnews.myway.com/article/20100114/D9D7MDGG0.html
3. Martin Crutsinger and Christopher S. Rugaber
http://finance.yahoo.com/news/Retail-sales-fall-apf-1551827594.html?x=0
4. AP
http://finance.yahoo.com/news/December-retail-sales-drop-03-apf-3350007934.html?x=0&.v=9
5. Adrian Sainz
http://apnews.myway.com/article/20100114/D9D7AN7O0.html
6. Jim Kuhnhenn
http://apnews.myway.com/article/20100114/D9D7FIMG0.html
7. Ian Swanson
http://thehill.com/blogs/hillicon-v...efficient-government-on-outdated-technologies
8. Reid Wilson
http://hotlineoncall.nationaljournal.com/archives/2010/01/majority_would.php