President Obama's Weekly Web Address

WEEKLY ADDRESS: President Obama Says Nations Must Unite To Overcome Global Challenges

WASHINGTON – In his weekly address, President Barack Obama extended his best wishes to everyone celebrating this week’s Passover and Easter holidays and called on nations around the world to come together to solve the current trials facing the world. On the heels of his weeklong trip overseas, the President said he believes it is important to acknowledge no single nation can solve global problems like a recession, international terrorism, climate change, or nuclear proliferation. But, working with other nations, the United States can lead the way in overcoming these challenges.

Transcript:

Remarks of President Barack Obama
Weekly Address
Saturday, April 11, 2009


I speak to you today during a time that is holy and filled with meaning for believers around the world. Earlier this week, Jewish people gathered with family and friends to recite the stories of their ancestors’ struggle and ultimate liberation. Tomorrow, Christians of all denominations will come together to rejoice and remember the resurrection of Jesus Christ.

These are two very different holidays with their own very different traditions. But it seems fitting that we mark them both during the same week. For in a larger sense, they are both moments of reflection and renewal. They are both occasions to think more deeply about the obligations we have to ourselves and the obligations we have to one another, no matter who we are, where we come from, or what faith we practice.

This idea – that we are all bound up, as Martin Luther King once said, in "a single garment of destiny"– is a lesson of all the world’s great religions. And never has it been more important for us to reaffirm that lesson than it is today – at a time when we face tests and trials unlike any we have seen in our time. An economic crisis that recognizes no borders. Violent extremism that’s claimed the lives of innocent men, women, and children from Manhattan to Mumbai. An unsustainable dependence on foreign oil and other sources of energy that pollute our air and water and threaten our planet. The proliferation of the world’s most dangerous weapons, the persistence of deadly disease, and the recurrence of age-old conflicts.

These are challenges that no single nation, no matter how powerful, can confront alone. The United States must lead the way. But our best chance to solve these unprecedented problems comes from acting in concert with other nations. That is why I met with leaders of the G-20 nations to ensure that the world’s largest economies take strong and unified action in the face of the global economic crisis. Together, we’ve taken steps to stimulate growth, restore the flow of credit, open markets, and dramatically reform our financial regulatory system to prevent such crises from occurring again – steps that will lead to job creation at home.

It is only by working together that we will finally defeat 21st century security threats like al Qaeda. So it was heartening that our NATO allies united in Strasbourg behind our strategy in Afghanistan and Pakistan, and contributed important resources to support our effort there.

It is only by coordinating with countries around the world that we will stop the spread of the world’s most dangerous weapons. That is why I laid out a strategy in Prague for us to work with Russia and other nations to stop the proliferation of nuclear weapons; to secure nuclear materials from terrorists; and, ultimately, to free the world from the menace of a nuclear nightmare.

And it is only by building a new foundation of mutual trust that we will tackle some of our most entrenched problems. That is why, in Turkey, I spoke to members of Parliament and university students about rising above the barriers of race, region, and religion that too often divide us.

With all that is at stake today, we cannot afford to talk past one another. We can’t afford to allow old differences to prevent us from making progress in areas of common concern. We can’t afford to let walls of mistrust stand. Instead, we have to find – and build on – our mutual interests. For it is only when people come together, and seek common ground, that some of that mistrust can begin to fade. And that is where progress begins.

Make no mistake: we live in a dangerous world, and we must be strong and vigilant in the face of these threats. But let us not allow whatever differences we have with other nations to stop us from coming together around those solutions that are essential to our survival and success.

As we celebrate Passover, Easter, and this time of renewal, let’s find strength in our shared resolve and purpose in our common aspirations. And if we can do that, then not only will we fulfill the sacred meaning of these holy days, but we will fulfill the promise of our country as a leader around the world.

Fuck AIG

Another headline that will get me banned by nanny software in airports and libraries everywhere. Fuck 'em. This is one funny song.

FREE MONEY IN THE USA

I cant pay my bills, my cards are maxxed
but the same old greedy banker hacks
are taking million dollar bonuses from my tax
Busting laws and breaking backs
AIGee your dumb said the man in the suit
With his bonuses and his sack of loot
The same guys who caused the train to crash
Are the only people still making cash

AIG I'm dumb FDIC my thumb
Shoved up my BofA
Free money in the USA
I got no place to stay
I lost my 401k
Now it's all gone away
Free money in the USA

Binding legal obligations
In a broke and worthless paper nation
one six five million in bonus pay
Free money in the USA
The first banker to press that case
may win in court but will one day face
an angry mob that he will meet
coming through the gates of easy street

Cancel all bonus's or put them in jail
We're all to goddamn big to fail

With so many people out of work
I hear some wealthy banker jerk
Say they can't attract the brightest and best
Like the ones who got us into this mess
Without hundreds of millions in retention pay
Free money in the USA
Go down to the unemployment line
There's a lot of people who'd do just fine
To right this ship and fix your bank
For a decent wage and a hearty thanks
for some honest pay for an honest day
Fuck aig fuck BofA-holes

© Paul Hipp 2009

Irish Wish for AIG

Irish Wish for AIG
.
St. Paddy's Day wish for AIG and the rest of the vandals and berserkers and barbarians still holding sway from the era o'Bushie...a curse still in play.
.
To the vandals of AIG and their minions near and far,
May the spirit of the Irish come crap upon your car.

You destroyed the American economy and now you whine
Oooh, oooh, them bonuses must be mine.

Yet while your eyes widen and your conniving brains spin
We've people living in tents and praying for regular meals ag'in.

'Tis a good time to be Irish or living with one, too.
'cause then I can take this moment to send this wish to you...

All of you, you know who you are.
Your craven greed and recklessness and avarice runs beyond the bar

of human decency and there should be just reward.
Not bonuses and big bucks lives, but a coat of feathers, richly tarred.

Yes, on this day of St. Paddy's here is my wish for the likes of you.
An indictment from Fitzgerald and the sting of his shillelagh, too.

hat tip to Prairie Sun Rising.

Don't Take Financial Advice From CNBC

Jon Stewart skewers the market "experts" from CNBC:

The Daily Show With Jon StewartM - Th 11p / 10c

CNBC Gives Financial Advice

Daily Show Full Episodes
Important Things With Demetri Martin

Political Humor
Joke of the Day

President Obama's Weekly Web Address

Transcript:

Yesterday began with some devastating news with regard to our economic crisis. But I'm pleased to say it ended on a more positive note.

In the morning, we received yet another round of alarming employment figures – the worst in more than 30 years. Another 600,000 jobs were lost in January. We've now lost more than 3.6 million jobs since this recession began.

But by the evening, Democrats and Republicans came together in the Senate and responded appropriately to the urgency this moment demands.

In the midst of our greatest economic crisis since the Great Depression, the American people were hoping that Congress would begin to confront the great challenges we face. That was, after all, what last November's election was all about.

Legislation of such magnitude deserves the scrutiny that it's received over the last month, and it will receive more in the days to come. But we can't afford to make perfect the enemy of the absolutely necessary. The scale and scope of this plan is right. And the time for action is now.

Because if we don't move swiftly to put this plan in motion, our economic crisis could become a national catastrophe. Millions of Americans will lose their jobs, their homes, and their health care. Millions more will have to put their dreams on hold.

Let's be clear: We can't expect relief from the tired old theories that, in eight short years, doubled the national debt, threw our economy into a tailspin, and led us into this mess in the first place. We can't rely on a losing formula that offers only tax cuts as the answer to all our problems while ignoring our fundamental economic challenges – the crushing cost of health care or the inadequate state of so many schools; our addiction to foreign oil or our crumbling roads, bridges, and levees.

The American people know that our challenges are great. They don't expect Democratic solutions or Republican solutions – they expect American solutions.

From the beginning, this recovery plan has had at its core a simple idea: Let's put Americans to work doing the work America needs done. It will save or create more than 3 million jobs over the next two years, all across the country – 16,000 in Maine, nearly 80,000 in Indiana – almost all of them in the private sector, and all of them jobs that help us recover today, and prosper tomorrow.

Jobs that upgrade classrooms and laboratories in 10,000 schools nationwide – at least 485 in Florida alone – and train an army of teachers in math and science.

Jobs that modernize our health care system, not only saving us billions of dollars, but countless lives.

Jobs that construct a smart electric grid, connect every corner of the country to the information superhighway, double our capacity to generate renewable energy, and grow the economy of tomorrow.

Jobs that rebuild our crumbling roads, bridges and levees and dams, so that the tragedies of New Orleans and Minneapolis never happen again.

It includes immediate tax relief for our struggling middle class in places like Ohio, where 4.5 million workers will receive a tax cut of up to $1,000. It protects health insurance and provides unemployment insurance for those who've lost their jobs. And it helps our states and communities avoid painful tax hikes or layoffs for our teachers, nurses, and first responders.

That's what is at stake with this plan: putting Americans back to work, creating transformative economic change, and making a down payment on the American Dream that serves our children and our children's children for generations to come.

Americans across this country are struggling, and they are watching to see if we're equal to the task before us. Let's show them that we are. And let's do whatever it takes to keep the promise of America alive in our time.

Thank you.

The Current Economic Reality

I read Atrios, so I know most of what the corporate media is shoveling at us about the bailouts is 100% pure unadulterated crap. Here's the real deal, from three of Duncan Black's posts today:

(a) For over a year the one point that I and others have been trying make is that the polite fiction that masters of the universe of Wall Street and their defenders in the media and Congress have been trying maintain, that this is liquidity crisis not an insolvency crisis, is utter horseshit. They made bad leveraged bets and lost immense amounts of money, and now they, and their buddies Geithner and Summers, want taxpayers to bail them out so they can go on living their opulent life styles while some of my neighbors wonder if their next food stamp card is going to show up.

(b) The question all along has been who is still standing when the music stops, which sucker gets stuck holding the bag.

(c) Bailing out these institutions might be necessary, but bailing out executives and shareholders is not.

Since the people running Obama's economic team are Wall Streeters, it appears that we the taxpayers will be the bagholders.

Liberal Weigh In

Reportedly Congress is getting hit with 100-1 constituent response against the stimulus bill. The rightwingers are out-organizing us, people! Call your Congresscritter and Senators and let them know in no uncertain terms that you support the stimulus bill!

I emailed my senators because obviously Ted Kennedy and John Kerry are going to vote for it. (I also told them I don't like the tax cuts in the bill, but to vote for it anyway! Also to reinstate the family planning funding that the House cut.) But if you live in a state where your rep may be on the fence I'd take the time to call.

The Senate switchboard number is (202) 224-3121. If you can't get through or would rather send an e-mail, you can look up your Senator's contact information and web form at the Senate.gov site.

Group News Blog: Call the Senate: Show Our Numbers

WSJ: McCain Urges Supporters to Sign Petition Opposing Stimulus

President Obama's Weekly Web Address

Corporations Taking Bailout Money, Spending It Opposing Unions

Corporations are taking taxpayer money -- contributed by the workers of America, as most corporations in this country don't pay taxes -- and using it to lobby against the Employee Free Choice Act so they can keep workers under their thumbs. During an October 17th conference call hosted by Bank of America involving AIG, Home Depot and other US corporations, the corporate thieves suggest giving millions to a lobbying organization so they can get around the McCain-Feingold campaign finance laws. So, they've taken our money, and they're using it to lobby against us.

I've signed Change Congress's donor strike pledging not to donate to any federal candidate unless they support legislation making congressional elections citizen-funded, not special-interest funded.

HuffPo: Bailout Recipients Hosted Call To Defeat Key Labor Bill

Three days after receiving $25 billion in federal bailout funds, Bank of America Corp. hosted a conference call with conservative activists and business officials to organize opposition to the U.S. labor community's top legislative priority.

Participants on the October 17 call -- including at least one representative from another bailout recipient, AIG -- were urged to persuade their clients to send "large contributions" to groups working against the Employee Free Choice Act (EFCA), as well as to vulnerable Senate Republicans, who could help block passage of the bill.

Bernie Marcus, the charismatic co-founder of Home Depot, led the call along with Rick Berman, an aggressive EFCA opponent and founder of the Center for Union Facts. Over the course of an hour, the two framed the legislation as an existential threat to American capitalism, or worse.

"This is the demise of a civilization," said Marcus. "This is how a civilization disappears. I am sitting here as an elder statesman and I'm watching this happen and I don't believe it."

You can listen to the call here on Wikileaks. Just click the blue "audio-recording" at the top of the page.

The Arts Go First

Looks like I'm losing my studio space. The Worcester Craft Center, where I have rented space for the past two years, has announced it is closing its doors for a "strategic pause" [pdf file]. To me, strategic pause sounds very ominous. The Board is basically giving up and putting out an APB for funding. I'm not sure whether to use the past tense or the present tense in writing this post. The Center took the studio renters money for January so we are allowed to continue to use our spaces until the end of the month; but there are no longer any employees at the Center. No classes, no gift shop, no one to pay for supplies or clay, no one to fire the kilns, no one to maintain the equipment.

Everyone but the Executive Director was fired yesterday; a few people will stay on for a day or two, but that's it. They even closed the gift shop so apparently bringing in modest amounts of money is not considered important. (The gift shop was profitable.) The glass studio which is in a separate building is now offering all kinds of rentals, of space and different kinds of equipment.

The Craft Center has been in financial straits for years and the economic crisis has made things worse. Here's the financial situation according to the Telegram:

The decision, reached at a trustees meeting Monday night, came after pressure from creditors and a significant decline in tuition, donations and other revenue added up to a shortfall of about $700,000, said David J. Firstenberg, president of the board of trustees. To reopen, the center needs about $1.2 million, to retire debt and finance a restart, he said, while acknowledging that that is a steep challenge in the current economic climate.

Last summer, the Center for Crafts had just begun to recover from several years of serious financial struggles. The board had worked hard to stabilize the venerable institution, Ms. Walzer had been hired as a permanent director after a period when the position had been a revolving-door, and a $1.2 million capital campaign was showing promise. The board had hoped to use some of the money to rebuild the staff after several rounds of budget cuts in recent years had gutted it. There was no marketing director or accountant on staff, for example, and several craft areas languished without department heads.

Then, in October, the recession deepened and the money flow ebbed. Some capital campaign pledges didn’t come through, and investment portfolios deflated. Tuition revenue declined as prospective students became more conservative with spending.

[]

The craft center is hampered in borrowing its way out of the crisis by the debt it has already incurred. Among major creditors are vendors such as utilities and printers, who are owed about $140,000. “A significant portion of that is over 90 days and so we’ve been stringing vendors along and that gets dicey after a while,” Mr. Firstenberg said.

There also is a substantial institutional debt. The Non-Profit Funding Foundation loaned the craft center $330,000 in 2004, on which $290,000 is still owed. “We’ve been making interest-only payments for a period of time and they’ve been, not at all inappropriately, asking when we were going to begin making principal payments,” Mr. Firstenberg said. The Commonwealth National Bank in Worcester, where the craft center does most of its banking, also has been receiving interest-only payments on loans totaling about $29,000, he said. Other debt is in friendlier hands, he said, friends of the institution that had made loans last fiscal year to help hold the center over until pledge money came in.

I stopped in yesterday afternoon to check on the work which came out of the soda kiln the Monday before Christmas. (Which turned out really well, BTW.) The lights were off, but I figured that there was just no one in working. Nope. The head of the clay studio broke the bad news to me; of course, it's far worse for him, a loyal 15-year-professional who is out of a job. Apparently rumors had been swirling around the entire time I've been gone, so at least I missed the anticipatory anxiety. I just get the thud of loss and stress.

Angry deep thought: If the Craft Center had had the foresight to change its name to Worcester Center for Banking and Crafts a few years ago, we could fill out a two page form [pdf file] and get a billion dollars from Hank Paulsen.

This is a tragedy for the city of Worcester. The schoolkids who took classes at the Center, the high school students in the Teen Apprentice Program, all the adults who have taken classes, all will miss the school. Of course, part of the problem that the Crafts Center has had is that it is not the most well-known of Worcester's cultural institutions. PR was never their strong suit.

The clay studio is the largest of the Craft Center's areas by number of students, and that community will want to stay together. One of the great things about the Craft Center is the ability to work in a collegial atmosphere, with everyone getting great ideas and inspiration from each other. If the Center does close that will be my priority, being able to stay in touch and work near some of the artists I've met and become good friends with.

A sad day.


Worcester Telegram: Center for Crafts shuts doors

Slide Show: Worcester Craft Center Over the Years

Worcester Craft Center

Strategic Pause letter from WCC (pdf)

New Street Glass Studio Hot Shop Rental Rates

A Modest Proposal

From John Cole:

A Bailout Plan the GOP Can Support

We need to invade Michigan and rebuild the state from the ground up. We will be greeted as liberators, we have clear supply lines, and we can easily rebuild the auto industry with the kind of money we spend on other countries we invade. Hell, our new Secretary of State, Hillary of Clinton, spent the better part of the past year fighting for the rights of average folks from Michigan, so think of the good will we have with the public. This is very doable. Just tell Congress we will give KBR no-bid contracts to fix Detroit.

"Financial Crisis: The Musical"

Lyrics: B. Hopman Vocals: R. Hopman

The Shock Market is out of control!! Gall Street is crumbling!! Your savings have been 401KOD!! Just when you thought the economy has hit a low note, here comes a real chorus of gloom and doom. It won't take a degree in economics to enjoy this musical parody. Just a degree of humor. (Special appearance by John McCain.)

PEBO's Weekly Web/Radio Address

Only 45 days until PEBO becomes PBO. Bush will stop pretending to be a rancher and move in to his new mansion with wet bar. I hope the wet bar is supplied with plenty of pretzels.

President-Elect Obama's Weekly Web Address

Transcript

Hitting the Ground Running

President Bush walks with President-elect Barack Obama during a visit to the White House, November 10, 2008.
(Jim Young/Reuters)

Obama went to the White House on a mission to fix the economy. Will Bush act?

MSNBC First Read: The details on today's meeting

A source familiar with today's White House meeting tells NBC News that President-elect Obama focused on three economic issues during his conversations with President Bush this afternoon. The top topics: a stimulus package in the lame duck session, aid to the auto industry, and help for homeowners with adjustible-rate mortgages in order to prevent more foreclosures.

According to the source, Obama told Bush that action is needed on a stimulus package now - in a lame duck session - and cannot wait until after the inauguration.

Obama also urged help for automakers and encouraged the acceleration of the disbursement of $25 billion dollars for the industry.

On his third focus - housing - Obama voiced his concern that homeowners whose mortgage rates are about to go up will need aid to prevent more Americans from defaulting on home loans.

I Read The News Today, Oh Boy: November 10, 2008

DailyMail: Megaleledone setebos: A relative of octopuses

The Bush Administration secretly issued an order in 2004 that allows our government to attack Al Qaeda in many countries. I want to know why they released this secret now. Getting ready for pardon week, perhaps?

In another secret move in late September, while Congress and the country agonized over the bailout bill, Hank Paulson's Treasury Department and the Bush Administration secretly changed a 22-year-old bank regulation to give banks a $140 billion dollar tax break. Bush is going to break the bank before he leaves office, just to leave Obama in as big a hole as humanly possible. Pigs at the trough.

The Bushies are also planning to throw more billions to AIG. Who's palling around with socialists now? Jerome a Paris at dailykos asks, can Obama stop the looting? Before it's too late?

In more bad economic news, Circuit City filed for bankruptcy (can't believe that their genius plan of firing the experienced salespeople and hiring no-knowledge newbies didn't work!) and DHL is laying off thousands.

Obama meets President Clusterfuck in the White House today. Here's Obama's account of his first meeting with Shrub. What a weirdo.

Corporations Bailing Out Randy With Money They Stole From You

Just received this in email from Eric Massa's campaign:

Randy's latest "48 hour" FEC financial report reads like a who's-who of the financial services industry (the recent recipients of $850 BILLION of your tax dollars), as well as oil and gas companies.

Here's just a small sample, lifted directly from Randy's report:

$5,000 - EXXON MOBIL CORPORATION
Date Contributed = 10/30/2008

$3,000 - SALLIE MAE INC POLITICAL ACTION COMMITTEE
Date Contributed = 10/30/2008

$2,000 - CONOCOPHILLIPS SPIRIT PAC
Date Contributed = 10/30/2008

$2,000 - JPMORGAN CHASE & CO. PAC
Date Contributed = 10/30/2008

$1,000 - KPMG PARTNERS/PRINCIPALS & EMPLOYEES
Date Contributed = 10/30/2008

$2,000 - WAL-MART STORES INC. PAC
Date Contributed = 10/30/2008

$1,000 - AMERICAN GAS ASSOCIATION
Date Contributed = 10/29/2008

The same Sallie Mae that receives PUBLIC funds and just got a huge cut of the bailout bill? Why, yes.

The same Exxon Mobil that is gouging working families at the pump with record prices while only days ago reporting the largest single quarter profit in American history? Yup.


Please give what you can today. We cannot allow Wall Street to decide who our next Congressman will be.

It's an outrage that these companies -- whose greed has so damaged our political and economic system -- would receive billions in tax breaks and grants from hard-working Americans, and then funnel that same money back to the career politicians that perpetuate the system.


It's outrageous, it's wrong, and it has to stop.

Sometimes Laughter Is the Best Medicine

The Dow dropped more than 700 points today, so what's a girl to do? Spread internet jokes far and wide:

FINANCIAL CRISIS:

If you had purchased $1,000 of shares in Delta Airlines one year ago, you will have $49.00 today.

If you had purchased $1,000 of shares in AIG one year ago, you will have $33.00 today.

If you had purchased $1,000 of shares in Lehman Brothers one year ago, you will have $0.00 today.

But, if you had purchased $1,000 worth of beer one year ago, drank all the beer, then turned in the aluminum cans for recycling refund, you will have received $54.00.

Based on the above, the best current investment plan is to drink heavily & recycle. It is called the 401-Keg.

Another cracked calculation:

A recent study found that the average American walks about 900 miles a year.

Another study found that Americans drink, on average, 22 gallons of alcohol a year.

That means that, on average, Americans get about 41 miles to the gallon!

Obama's Economic Rescue Plan for the Middle Class

Here's Obama's speech on his rescue plan for the middle class, from yesterday:

Hillary: "Mavericks In Washington And On Wall Street Got Us Into This Mess"