Daily News Channel
President Obama said Wednesday that no one in his administration had been responsible for supervising ailing insurance giant AIG but that ultimately, the buck stops with him. “Nobody here drafted those contracts; nobody here was responsible for supervising AIG and allowing themselves to put the economy at risk by some of the outrageous behavior that they were engaged in,” he said outside the White House. “[But] we are responsible, though.
After promising the American people his team has already found $2 trillion in budget savings by scouring the federal budget, President Obama is planning to lay out some of the potential spending cuts in great detail when he unveils his first blueprint on Thursday, according to senior administration officials familiar with the budget plans. “My administration has also begun to go line by line through the federal budget in order to eliminate wasteful and ineffective programs,” Obama said Tuesday in a speech to a joint session of Congress.
Sure, it was a tad hokey and staged. After members of Congress and assorted good government-types participated in the "fiscal responsibility" summit at the White House, President Obama took their questions. Calling first on Sen.
President Obama visited Canada on Thursday in his first foreign trip as head of state, meeting with Canadian Prime Minister Stephen Harper to discuss a range of complicated economic and military issues. Obama and Harper discussed possible remedies for the global economic downturn, a new initiative to fight global warming and the ongoing struggle against Taliban and al Qaeda elements in Afghanistan, the leaders said during a joint news conference. The struggling economy was at the top of the agenda, with emphasis on the controversy surrounding the “buy American” clause in the recently passed U.S
President Obama appeared before a national audience Monday night to make the case for his economic stimulus plan, saying this is not your "run-of-the-mill recession." The president stressed the urgency of passing the roughly $838 billion measure, which his administration and Democratic leaders say will help pull the U.S.