Senator Kit Bond (R-Mo.) says he doesn’t “think our European friends should be rewarded with U.S. contracts for products they illegally subsidized. It’s time the Pentagon starts looking out for maintaining our own defense industrial base.” (0:28)
Secretary of Agriculture Tom Vilsack says he hopes Congress will enact a bill that meets the President’s objectives on energy, which include creating an efficient, cost-efficient and a comprehensive approach that leverages the Nation’s capacity for innovation. He also touched upon the need for job creation, reduced dependence on foreign oil, and protection of U.S. children from “ills associated with pollution.” (0:20)
Speaking to a group of reporters following the President’s speech on overhauling the nation’s financial regulatory system, Senator Chris Dodd (D-Conn.) called Obama’s plan a “step in the right direction.”
Dodd described the President’s plan, which would give the Federal Reserve the ability to monitor risky investments made by financial companies, as an effort to reinvigorate the marketplace.
Although the Senator admitted that there is “not a lot of confidence in the Fed right now,” he professed that the agency has the necessary experience to properly assume this new responsibility. Dodd added that “sitting around, hoping things will work,” should not be the President’s way of dealing with this nation’s current financial mess.
Congressman Barney Frank (D-Mass.), who joined Dodd in speaking to reporters afterwards, took a swipe at Republicans, accusing them of turning a blind eye over the years as major financial companies made risky investments.
During his speech, President Obama described his plan as a means of “leveling the playing field,” for investors, both big and small. The President stressed his desire to promote free and fair markets by closing loopholes that exist in the current financial system. Specifically, Obama suggested it was time to crack down on intricate financial instruments such as derivatives, which he described as being “so complex, it’s impossible to know their actual value.”
The President also spoke of the need to move the country away from a bubble-based economy, adding that it is the duty of his administration to prevent scenarios in which private innovation negatively impacts the marketplace.
Obama also proposed holding mortgage bankers to higher standards, requiring hedge fund advisors to register with the FCC and creating an independent Consumer Financial Protection Agency to eliminate small print and ‘gotcha’ clauses found in mortgages, credit card and other financial agreements.
The President referred to these proposals as “common sense rules.”
Bilal Saab, a Lebanon expert at the Brookings Institution, explains that the Lebanese president is faced with a ‘balancing act’ as he should try to satisfy two opposing groups. Indeed, the radical Hezbollah party does not trust the President for his Western inclinations whilst the March 14th coalition of anti-Syrians believes the President is too lenient with the Syrians. As a result, the President might not be granted additional powers. (0:41)
By Celia Canon- Talk Radio News Service
On Monday, Dr. Rafe Al-Eissawi, Iraq’s deputy prime minister, made a speech at the Carnegie Endowment For International Peace Center in which he addressed the issue of U.S withdrawal from Iraq. Al-Eissawi insists that Iraqi security forces are ready to take over the protection of the country.
Al-Eissawi was optimistic that the Iraqi security forces could meet the requirements expected by the U.S to allow for the American withdrawal of its troops to optimize Iraqi stability and security after the 2010 Iraqi general elections that will determine the new members of the national parliament.
“Let me say this as plainly as I can: by August 31, 2010, our combat mission in Iraq will end,” announced U.S. President Barack Obama on February 28.
Speaking on his assessment of the withdrawal, Al-Eissawi said “We consider the Iraqi forces are capable of controlling the situation.”
Iraq has acknowledged and taken measures to fill the vacuum left by the rapid departure of American forces and the gradual dispersion of American influence, Al-Eissawi said. “We are fully aware of the challenges that may take place accompanying this control shift of transition from mixed Iraqi-American to purely Iraqi security forces.”
But Al-Eissawi recognized that the Iraqi security forces’ capacity to take over the security of Iraq would not come immediately but would rather require that the national forces remain under American auspices, saying that Iraq “may need the American force in the next period, focusing more and more on training and some logistic support, which is considered to make a great difference.”
According to Al-Eissawi, the effectiveness of the withdrawal depends upon “The necessity of commitment and implementation of the SOFA (Status of Forces Agreement that provides a framework of cooperation between two countries as one state stations troops in another state) between Iraq and America and the timing of withdrawal of the main troops from the main cities and the capacity building of the Iraqi security forces that will be able to cover the security vacuum that may take place accompanying the withdrawal.”
By Celia Canon- Talk Radio News Service
U.S Speaker of the House Nancy Pelosi was reserved in her choice of words today at the Brookings Institution as she reflected on her recent bipartisan trip to China to discuss the communist country’s climate efforts.
“This trip was very important for us because the U.S and China are the biggest emitters of gases and we have to come to terms in order for us to come to a multilateral agreement in Copehagen.” said Pelosi
The U.S delegation made the May trip after an invitation from the Chinese government. The meeting may have also given the U.S an ally against the growing threat that North Korea poses since its alleged nuclear and missile tests.
Bruce Klingner, an analyst for the Heritage Foundation, said that the Obama administration is “trying to press China to be less obstructionist, to allow for a greater punitive measure against North Korean government agencies.”
Why this (the climate crisis) “is important is we see it as a national security issue to reduce our dependence on foreign oil. We see it as an economic issue to create clean energy jobs and to be competitive in our investments and our innovation and technology so that we can be the world leader,” Pelosi said.
Pelosi spoke about how the American delegation prepared for this trip, saying “We arrived in China, we knew what we were going there to do but of course with our message reinforced from what we had just seen (in Alaska) also equipped with a bill that had passed Congress on Thursday which was a historic, momentous legislation on how we would go forward.”
The House Speaker confirmed that China has already demonstrated efforts to take energy consumption and climate into consideration, as she said “The Chinese have done remarkable things… in terms of closing down coal plants that were inefficient, the investments in research and actual construction of buildings in different ways so they’d use less energy in their construction and on the ongoing.”
But Pelosi reported that, despite efforts towards for climate improvement on a certain level, the delegation was met with a certain resistance from their Chinese counterparts with regards to further resolutions.
“What they wanted to be clear to us is that as they were doing this and they were investing in the technologies and the rest… they were going to be developing still, sustainable development with more of an emphasis on the development side,” said Pelosi.
Every year, “600,000 die of pollution in China,” according to Pelosi.
By Celia Canon- Talk Radio News Service
Despite the uncertainties that Congressional Republican leaders have on the efficacy of the reform of the International Monetary Fund, House Speaker Nancy Pelosi is adamant that “The IMF will have a strong support from the Democrats.”
Pelosi defended the international organization today at her weekly press conference where she also mentioned the success of her recent bipartisan trip to China.
House Minority Leader John Boehner and Senate Minority Whip Eric Cantormay, backed by other House Representatives who fear that Democrats are fusing two very different entities, the IMF and a bill, together, said that “Weighing down this critical legislation with non-defense spending will only drag this process out further and cost it essential Republican support needed for passage.”
Cantor added that “We should not be having this discussion. IMF funding has no business being included in the war supplemental bill,” while adding that the funding may result in helping terror-sponsoring states such as Pakistan.
The debate over funding of the IMF has stemmed from President Barack Obama’s announcement at the April Group of 20 meeting that $100 billion will be granted to the IMF as part of the U.S war-bill which should further the fight against the global economic crisis.
Obama also said that the U.S would support the IMF as it sell 400 tons of gold, whilst Pelosi reminded that “It [the IMF] has been reformed so that it will help the poor. They wanted to sell gold, we said you can, but the proceeds have to go to help the poor.”
Responding to Cantor’s allegations, Pelosi said “I don’t know why anyone would say that the money is going to the hands of terrorists, it’s simply not based on facts and is a scare tactic.”
Pelosi also said “There are two contradictory things: one says that one shouldn’t be on war funding, which is our responsibility to support our troops in the war in Iraq, end the war in Iraq, bring our troops home and fight terrorism where is it a threat to our country, which is in Afghanistan, and we know that we have to do that.” She added that “The IMF, in its reformed state, can be a force for alleviating the despair amongst people in the world. It’s a very important national security initiative.”
“The issue of the IMF, I think, has strong support on the Democrats’ side; not any support we’re hearing on the Republican side,” Pelosi said.
This war-bill, which involves military and diplomacy costs for Iraq and Afghanistan, will skyrocket to over $100 billion.
By Rachel St. Amant- Talk Radio News Service
TechAmerica held a media briefing in which they announced their collaboration with the government on the 60 day cyber security project which will create cyber security office.
The association of leading technology companies came out in support of President Barack Obama’s plan to tie public and private institutions together in the hopes of enhancing cyber security.
“The President came out and visibly made his commitment to this effort,” said Enrique Salem, CEO of Symantec.
President Obama said “We need to develop new standards for the cyber-security that protects our most important infrastructures, from electrical grids to sewage systems, from air traffic control to our markets.”
John Brennan, Assistant to the President for Counterterrorism and Homeland Security, said “The national security and economic health of the United States depend on the security, stability and integrity of our nation’s cyberspace, both in the public and private sectors.”
“We clearly articulated what the risk are, what the threats are,” Salem said.
Phil Dunkelberger, CEO of PGP Corporation agreed, saying “I thought it was important that he (President Obama) linked cyber security to the future of the U.S.”
TechAmerica also affirmed its satisfaction for the new cyber security office regarding the security it will provide to small businesses and individuals.
Dunkelberger argued that “Those (security) rights should be encouraged and that is what the government does.”
On the new collaboration between the public and the private sectors Harriet Pearson said “The relationship that the administration is building is going to be key.”
Despite the efforts of the previous administration to address this topic, TechAmerica seems more enthusiastic about Obama’s plan.
Phil Bond said “ What makes it a fundamental shift is the personal commitment taken by the president”, adding that “He is putting a lot of chips on the table, politically.”
However, Salem warned that “I think its important that we do not let it get caught up in the bureaucracy.”
By Celia Canon- Talk Radio News Service
Americans should be more concerned by the proliferation of nuclear weapons from North Korea to other states or non-state actors, rather than focus on a direct N.Korean nuclear attack on the Western World.
Such was the conclusion of former Secretary of Defense William Perry when addressing the Council on Foreign Relations (CFR) on U.S nuclear weapons policy today.
“When we are concerned about proliferation, for example from N.Korea to Iran, we are concerned with the possibility that nuclear terrorists might be a bomb… The greater danger is that the bomb or the fissile material leak from one of these countries.” said Perry.
On Monday, N.Korea announced that it had successfully detonated and underground nuclear bomb, and on Tuesday, it launched two short-range ballistic missiles. As a result, the Obama administration may be facing an unexpected turn in the nuclear debate.
The topic is gaining momentum as talks between the U.S and Russia on the renewal of the 1991 Strategic Arms Reduction Treaty (Start) are feared to be unsuccessful.
That N.Korea has nuclear capabilities and is testing missiles has fanned the flames on the necessity to reconsider the reduction in the Department of Defense FY2010 budget.
Perry was joined by Brent Scowcroft, former assistant to the President for National Security Affairs who explained that “a great danger in nuclear terrorism lies with the civilian nuclear power and the loose fissile material that comes with that.”
Scowcroft appealed to the security dilemma to provide a link between N.Korea or Iran acquiring a nuclear power and nuclear terrorism.
“If we don’t put a cap on proliferation now, we could easily face 30 or 40 countries with that capability, That is not a better world,” said Scowcroft, adding that “If [Iran and N.Korea] are free to enrich uranium to weapons grade, then you have others who want to do it just for protection or whatever and then you have a tremendous danger of terrorists getting hold of fissile material and then its relatively easy.”
The U.S government had already started to deal with this problem under the Bush junior administration, as Perry explains: “For one thing I support the initiative of the previous administration called the Proliferation Security initiative (PSI) and the recent moves to strengthen this initiative.”
Former President George.W. Bush said that PSI’s aim is “to keep the world’s most destructive weapons away from our shores and out of the hands of our common enemies.”
The initiative is limited to controlling alien ships in one’s waters to search for weapons. Airways are however not part of the PSI.
By Michael Ruhl, University of New Mexico – Talk Radio News Service
Today President Barack Obama announced a new effort to stimulate tomorrow’s economy by reviving higher education through expanding Pell Grants and removing barriers to success. The public face for his new initiative is to be Dr. Jill Biden, wife of Vice-President Joe Biden and Community College Professor.
Obama’s plan, detailed at opportunity.gov, would help the unemployed go back to school to build new skill sets, with the goal of helping them gain future employment through specialized technical training.
“The idea here is to fundamentally change our approach to unemployment in this country, so that it’s no longer just a time to look for a new job, but is also a time to prepare yourself for a better job,” Obama said. “Our unemployment system should be not just a safety net, but a stepping stone to a new future.”
Among the barriers to success that the President wants to break down are state programs in which a worker might lose temporary financial support if they were to enroll in an education program. Obama said that in some places a worker may be unemployed, but may not qualify for federal assistance to get an education because of the salary they had a year ago but no longer make. The President said that he is committed to working with states to change these laws.
The President said that knowledge is the most valuable skill that one can sell. He encouraged all Americans to aim for getting at least 1 year of higher education, whether it is a community college, a four year school, vocational training or an apprenticeship.
“By 2020, America will once again have the highest proportion of college graduates in the world,” Obama said optimistically.
This announcement came on the same day as the release of April’s unemployment statistics, which saw the loss of more than half a million jobs. The unemployment rate for April was 8.9 percent, up from 8.5 percent in March and 8.1 percent in February. April’s numbers have already surpassed both the White House’s and the Federal Reserve’s projections for all of 2009, which were 8.1 percent and 8.8 percent, respectively.
Acknowledging that unemployment is as its highest rate in 25 years, the President urged patience, reminding us that the economic problems didn’t happen overnight, and couldn’t be fixed immediately.
“We’re still in the midst of a recession that was years in the making and will be months or even years in the unmaking,” Obama said. He continued, “We should expect further job losses in the months to come.”
Obama said that the Economic Stimulus Package is yielding real results, manifest in higher consumer spending and home sales, and an increase in construction spending. He praised the Recovery Act, and said, “Because of this plan, cops are still on the beat and teachers are still in the classroom; shovels are breaking ground and cranes dot the sky; and new life has been breathed into private companies.”
Fixing the economy and reforming education are two goals Obama has set for his administration. He said that in the weeks to come he would start working towards more education initiatives.
