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This afternoon, President Obama made the trip across town to the Washington Auto Show to look at some of the incredible new vehicles being built by Detroit.
There, he told reporters:
Let me just say, when you look at all these cars, it is testimony to the outstanding work that's been done by workers -- American workers, American designers. The U.S. auto industry is back. The fact that GM is back, number one, I think shows the kind of turnaround that's possible when it comes to American manufacturing.
Check out the video.
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Today, Startup America celebrates its first birthday, and President Obama is sending Congress a set of proposals to help boost the startups and small businesses that create so many jobs in this country.
President Obama has already cut taxes for businesses 17 times. Now, he's asking lawmakers to create four new tax cuts. He's proposing a new 10 percent income tax credit on new payroll for small businesses; a permanent extension of a tax cut he signed in 2010 that eliminates taxes on capital gains in key investments for small businesses; a doubling of the amount that entrepreneurs can deduct from their taxes for start-up expenses, and a 100 percent extension of first-year depreciation of qualified property for one year.
To help businesses find more investors, the President is calling for a national framework that allows entrepreneurs to raise money through "crowdfunding." Currently, the most a small business can raise through a round of "Regulation A" mini-funding is $5 million -- but President Obama wants to boost that limit to $50 million, coupled with strong protections for investors. He's calling for changes in how securities laws and regulations are phased in for small companies in their first year after going public. And the President wants to increase the Small Business Investment Company program to to allow for up to $4 billion in annual support.
President Obama is also calling on Congress to relieve the backlog of immigrant visas. To do that, he wants lawmakers to eliminate the country-specific caps for certain immigrant visas to attract more high skilled foreign workers, particularly entrepreneurs.
To learn more about all these proposals, go here.
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Today, President Obama convened a meeting of his Cabinet to discuss the ideas he laid out in the State of the Union. Joining the meeting was a new member of that Cabinet -- Karen Mills, the head of the Small Business Administration.
The President elevated Mills to ensure that entrepreneurs always have a direct line to the Oval Office. He said:
I mentioned at the State of the Union that there have been discussions, bipartisan discussions between Republicans and Democrats, about a whole set of measures that can accelerate financing to startup companies; can provide tax breaks to startups and small businesses that are interested in either hiring more workers or increasing their wages; that looks at innovative ways for them to raise capital.
And my expectation and hope is, is that they will get a bill together quickly, that they will pass it and get it on my desk. I will sign it right away, and I would like to see that bill signed this year.
The President also ran through what agencies like the Departments of Commerce, Energy, and Education are doing to help American businesses as well. He said:
[What] we want to do is to make sure that every single agency, even as they’re tending to their energy initiatives or providing homeland security or transportation or defense, that we’re also thinking about how are we advancing the cause of giving small businesses and entrepreneurs opportunities to start creating the next Google or the next Apple or the next innovative company that’s going to create jobs and improve our economy.
Read the full remarks.
Learn more
- Watch the 2012 Enhanced State of the Union
- Everything you need to know about the President's Blueprint for American Manufacturing
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Today, President Obama recognized the one-year anniversary of Startup America, the White House initiative to celebrate, inspire, and accelerate high-growth entrepreneurship throughout the nation.
As part of the Administration’s commitment to unleash market opportunities for entrepreneurs, in December we launched the Startup America Policy Challenge to identify high-impact ideas to support entrepreneurship in areas of national interest: education, energy, and health care.
To kick off the challenge, Secretary Arne Duncan (Department of Education), Secretary Steven Chu (Department of Energy), and Secretary Kathleen Sebelius (Department of Health and Human Services) each asked the American public for ideas about how the U.S. government can break down barriers to entrepreneurship and enable the use of clean energy, digital learning, and health information technologies.
The dialogue on Quora continues to be inspiring, with impassioned discussion about how to best enable use of these technologies, including discussion about how to tear down barriers to customer adoption. In the spirit of today’s focus on innovators, I also want to pose the question directly to entrepreneurs:
- Ed-tech entrepreneurs – what’s your biggest barrier to introducing learning technologies solutions into the marketplace?
- Clean-tech entrepreneurs – what’s your biggest barrier to introducing clean energy innovations into the marketplace?
- Health IT entrepreneurs – what’s your biggest barrier to introducing healthcare IT solutions into the marketplace?
Entrepreneurs and innovators are busy, though, building their businesses. Other than a response on Quora, they may not have the time or interest in thinking about the idea translates to policy solutions. That’s why I’m pleased to announce today that a network of universities have responded to the Startup America Policy Challenge, launching a contest for students and other solvers to compete to develop the best “policy business plans.”
The independent contest is open to students, problem solvers and the American public at large – anyone who wants to take the ideas from the Policy Challenge and turn them into compelling policy proposals. Finalists will get a chance to attend a conference in Washington D.C. and present their full proposals to a panel of high-profile expert judges with backgrounds in government, industry, and academia—and winning proposals will be shared with the Cabinet Secretary from the relevant federal agency.
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January 31, 2012
08:00 AM ESTEd note: In honor of the one year anniversary of Startup America, we invited Mike Krieger, the co-founder of Instagram, to contribute a post to WhiteHouse.gov. Instagram is the fastest growing social mobile startup in the U.S. today, and exemplifies President Obama's belief that "entrepreneurs embody the promise of America: the idea that if you have a good idea and are willing to work hard and see it through, you can succeed in this country. And in fulfilling this promise, entrepreneurs also play a critical role in expanding our economy and creating jobs." Mr. Krieger moved from Brazil to California to attend Stanford University, where he studied computer science and cognitive science. In 2010, he and a partner founded Instagram, which now employs a talented, growing team of designers and engineers. After graduation, Mr. Krieger worked for a year on his student F-1 visa, later applying for and receiving an H-1B visa as a high-skill worker. Mr. Krieger wants to permanently stay in the U.S. and has applied for a green card.
I was born in Sao Paulo, Brazil, and from an early age was interested in technology and engineering. When I came to the United States in 2004 to attend university at Stanford, I was instantly inspired by the stories and advice from startup leaders in Silicon Valley and beyond, who had endeavoured to create new opportunities and improve lives around the world. I was drawn to the idea of one day helping to create a startup, and last year, I was fortunate to be given the chance. In May of 2010, I joined Kevin Systrom, my co-founder, and we created Instagram, a mobile social network that today has over 15 million users. What began as a small, two-person startup working out of a pier in San Francisco has grown to a dozen employees, and our plan is to at least double that this year. There are few better sights than walking into an office full of talented, hard-working folks, working together to build a great company from the ground up.
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Just after 5:30 PM ET today, President Obama sat down for a discussion with a group of Americans from across the country in a Google+ Hangout. It was the first online conversation to happen at the White House in real time -- ever.
Even before the event, more than 227,000 people had taken time to participate -- submitting questions for the President to answer or voting for their favorite.
If you missed any of the action, check over the full video here:
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Georgian President Mikheil Saakashvili was at the White House today for a meeting with President Obama. The leaders discussed relations between our two countries, Georgia's contributions to the military operation in Afghanistan, and the potential for a free trade agreement between the United States and Georgia.
In recent years, commerce between the two countries has been increasing, and President Obama described the potential free trade agreement agreement as a "win-win":
Obviously, there’s a lot of work to be done and there are going to be a lot of options that are going to be explored. The key point, though, is we think it’s a win-win for the United States and for Georgia as we continue to find opportunities for businesses to invest in Georgia, for us to be able to sell Georgia our goods and services, and Georgia to be able to sell theirs as well.
Georgia is one of 50 nations helping to fight the war in Afghanistan, and a point President Obama also took the time to note.
"They have been one of the most dedicated contributors outside of NATO to the ISAF effort," he said, "And in fact have taken on some significant casualties as a consequence of those efforts."
Today's meeting marked the 20th anniversary of diplomatic relations between the two countries.
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To promote economic growth and job creation, we need cost-justified, evidence-based regulation. Which is why, almost exactly a year ago, President Obama issued an Executive Order calling for a government-wide review of regulations to reduce costs, to eliminate unnecessary burdens, and to get rid of what the President has called “absurd and unnecessary paperwork requirements that waste time and money.” Twenty-six executive agencies produced final plans, spanning over 800 pages and offering more than 500 proposals. Sixteen independent agencies followed suit, responding to a historic request from the President to eliminate unjustified costs on their own.
And today, agency updates on regulatory reform progress can be found here.
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On January 29, 2009, President Obama signed his very first piece of legislation: the Lilly Ledbetter Fair Pay Act. The law, named after a woman who discovered her employer was paying her less than men doing the same job, makes it easier for Mrs. Ledbetter and others like her to effectively challenge unequal pay.
Lilly Ledbetter took her pay discrimination complaint all the way to the Supreme Court, which ruled in 2007 that claims like hers had to be filed within 180 days of an employer’s decision to pay a worker less—even if the worker didn’t learn about the unfair pay until much later, as was the case for Mrs. Ledbetter .
To make sure that people can effectively challenge unequal pay, the law President Obama signed shortly after taking office amended the Civil Rights Act of 1964 so that unfair pay complaints can be filed within 180 days of a discriminatory paycheck—and that 180 days resets after each paycheck is issued.
Watch the video above from the bill’s signing to hear Mrs. Ledbetter’s thoughts about what the new law means to her.
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Earlier today, I had the great privilege of joining First Lady Michelle Obama and many of the nation’s leaders in announcing proposed changes to the Family and Medical Leave Act (FMLA) that recognize the unique circumstances faced by the caregivers of our country’s wounded, ill and injured service members and veterans.
The Joining Forces announcement reflects a collaborative, public-private effort between the Departments of Defense, Labor and Veterans Affairs, along with private sector business and non-profit organizations. Joining the First Lady were Secretaries from the Departments of Labor, Defense and Veterans Affairs; Secretaries of the Army, Navy and Air Force, as well as the Joint Chiefs Chairman, and all of the members of the Joint Chiefs of Staff.
The proposal announced today by Secretary of Labor Hilda Solis continues this Administration’s commitment to our wounded warriors and their caregivers. The new language would extend the entitlement of military caregiver leave to qualifying family members of veterans who are dealing with a serious injury or illness for up to five years after leaving the military. At this time, the law only covers family members of “currently serving” service members. Additionally, the proposal expands the military family leave provisions of the FMLA by extending qualifying leave to employees whose family members serve in the regular armed forces. Currently, the law only covers families of National Guard members and reservists. These changes will ensure that our military families have peace of mind knowing that they won’t have to choose between keeping their jobs and caring for their loved ones.
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Today, President Obama will participate in the first completely virtual interview from the White House to talk about his State of the Union Address. During the live interview, which will be held through a Google+ Hangout, the President will answer questions submitted by people from across the country. In fact, more than 227,000 people have participated already, submitting over 133,000 questions and casting more than 1.6 million votes on the questions they would like to hear President Obama address. In the Hangout, the President will be joined by a selection of citizens who will engage in the conversation live.
Don't miss your chance to Hangout with the President. Watch live at 5:30 EST on Monday, January 30, 2012. Your interview with President Obama will be streamed live on WhiteHouse.gov, YouTube.com/WhiteHouse and on the White House Google+ page.
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In his weekly address, President Obama discusses the blueprint he put forward this week in the State of the Union Address for creating an economy built to last. After focusing on American manufacturing, American energy, and skills for American workers during each of the last three days, he used his weekly address to highlight his commitment to a renewal of American values. The President is challenging leaders in Washington, DC to follow the model set by our men and women in the military, end the gridlock and start tackling the issues that matter – without regard for personal ambition.
Transcript | Download mp4 | Download mp3
Learn more
- Watch the enhanced version of the 2012 State of the Union Address
- Read President Obama's Blueprint for an America Built to Last
- Take a deep dive into the data behind the President’s plan
- Find out how you can talk to Obama Administration officials about the President's plan
- Everything you need to know about President Obama's Blueprint for American-made energy
- Everything you need to know about President Obama's Blueprint for manufacturing
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You can view the blog postHERE.
Today’s report shows that the economy posted its tenth straight quarter of positive growth, as real GDP (the total amount of goods and services produced in the country) grew at a 2.8 percent annual rate in the fourth quarter of last year. For 2011 as a whole, GDP rose by 1.7 percent, raising the level of real GDP 0.7 percent above where it was at the start of the recession in the fourth quarter of 2007. While the continued expansion is encouraging, faster growth is needed to replace the jobs lost in the recent downturn and to reduce long-term unemployment.
Positive contributions to real GDP growth in the fourth quarter included consumer spending (1.5 percentage points) and fixed investment (0.4 percentage point). Overall government purchases fell (4.6 percent), with substantial declines in Federal defense spending (12.5 percent) and State and local spending (2.6 percent).
As President Obama has said, this is a make-or-break moment for the middle class, and those who are struggling to get into the middle class. That is why the President announced on Tuesday his Blueprint for an America Built to Last – an economy built on American manufacturing, American energy, skills for American workers, and a renewal of American values.
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In the State of the Union, President Obama made a point to talk about two critically important trends when it comes to education.
First, if you look at unemployment rates broken down by education level, you’ll notice something stark: Those without a college diploma are twice as likely to be without a job as those who earned a bachelor’s degree. For those who finished college or received more education still, the unemployment rate is just 4.1 percent—less than half the national average. And even among the employed, those who finished college make twice as much as those who failed to finish high school.
But even as a college degree has become more important than ever, the cost of that diploma has skyrocketed. For the first time, Americans owe more on their student loans than they do on their credit cards. A senior in high school today has seen the cost of full-time attendance at a public university nearly double in her lifetime.
This morning at the University of Michigan in Ann Arbor, the President outlined a Blueprint for making college more affordable.
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January 27, 2012
06:08 PM ESTA quick look at what happened this week on WhiteHouse.gov:
State of the Union: In his third State of the Union Address on Tuesday, the President outlined his vision for “an America that lasts”—one that will bring about a new era of American manufacturing, and promote homegrown and alternative energy sources—and presented a blueprint to achieve that vision. Check out this video that goes behind the scenes as President Obama prepared the speech.
Blueprint for Manufacturing: During his visit to New Hampshire following Tuesday’s State of the Union address, Vice President Biden highlighted the Administration’s plan to help businesses bring jobs back to America through manufacturing. He echoed the President’s message that we need to commit to train workers with the skills they will need to compete in the growing sectors of our economy.
Talking Energy in Las Vegas: From a UPS facility in Las Vegas, the President spoke about the future of American-made energy. “[Even] with all this oil production, we only have about 2 percent of the world’s oil reserves,” the President said, “So we've got to have an all-out, all-in, all-of-the-above strategy that develops every source of American energy—a strategy that is cleaner and cheaper and full of new jobs.”
#WHchat: Throughout the week, more than thirty administration officials have answered questions about President Obama’s State of the Union Address and issues Americans care about through a series of Office Hours on Twitter—addressing queries about everything from the economy to disability policy. Vice President Biden—known in the twitterverse as @VP—answered questions submitted by people across the country in his first-ever Twitter interview from an advanced manufacturing facility in Rochester, New Hampshire.
NHL Champs: On Monday, the President welcomed the Boston Bruins to the White House and congratulated them on their Stanley Cup victory in June—marking the team’s sixth Cup championship, and their first one in nearly forty years. Their triumph, the President said, “proved that teamwork is everything.” After their visit to the White House, the players led a hockey clinic—affirming that being a champion doesn’t end when you hang up your skates.
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In September 2009, the President announced that—for the first time in history—White House visitor records would be made available to the public on an ongoing basis. Today, the White House releases visitor records that were generated in October 2011. Today’s release also includes visitor records generated prior to September 16, 2009 that were requested by members of the public in December 2011 pursuant to the White House voluntary disclosure policy. This release marks a new milestone, bringing the total number of records made public by this White House to more than two million—all of which can be viewed in our Disclosures section.
Ed. Note: For more information, check out Ethics.gov.
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Yesterday, Vice President Biden visited Rochester, New Hampshire to highlight the Administration’s plan to help businesses bring manufacturing jobs back to America. He made one central message clear: “America is coming back.”
As the Vice President emphasized, the policies the Obama Administration has put in place in its first three years are beginning to pay off—especially in manufacturing. The economy added 334,000 manufacturing jobs in the last two years, making it the strongest period of manufacturing job growth since the late 1990s. And now, instead of hearing about outsourcing, we’re finally starting to hear about insourcing as more and more companies realize that it makes real business sense to bring jobs back to America.
Manufacturers are coming back because, while costs in China are rising rapidly, “American workers are the most productive workers in the world,” the Vice President said. And to reinforce that advantage, we need more partnerships between businesses and community colleges to train workers with the specialized skills employers need.
Vice President Biden had the opportunity to see such a partnership in action in New Hampshire yesterday—a partnership that is reviving advanced manufacturing and bringing jobs back to the state.
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On Tuesday, President Obama delivered his State of the Union address and laid out his Blueprint for an America that is built to last, a nation where hard work and responsibility are rewarded, where everyone does their fair share, and where everyone is held accountable for their actions. All week, Vice President Biden and over 30 White House officials have been taking your questions on Twitter.
And, on Monday January 30 at 5:30 p.m. ET, President Obama will answer questions that have been submitted by Americans from across the country in the first completely-virtual interview from the White House.
The deadline to submit your questions is midnight on Saturday January 28, so head over to the White House YouTube Channel now to submit a question or vote for your favorite question.
Then don’t forget to tune in at Monday at 5:30 p.m. when the President will join a special Google+ Hangout from the West Wing. He'll be answering several of the most popular questions that have been submitted through YouTube, and some of the people who submitted questions will even be invited to join the President in the Hangout and take part in the live conversation.
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A bit of photo fun was inevitable when the First Lady met Mike Krieger, co-founder of the photo sharing site Instagram, in the Blue Room of the White House earlier this week. Mike was one of the extraordinary Americans who exemplify the themes and ideals laid out in the 2012 State of the Union Address that were invited to join Mrs. Obama in her viewing box on Tuesday.
Check out a video of their Instagram shoot and see the results:
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Today’s report shows that the economy posted its tenth straight quarter of positive growth, as real GDP (the total amount of goods and services produced in the country) grew at a 2.8 percent annual rate in the fourth quarter of last year. For 2011 as a whole, GDP rose by 1.7 percent, raising the level of real GDP 0.7 percent above where it was at the start of the recession in the fourth quarter of 2007. While the continued expansion is encouraging, faster growth is needed to replace the jobs lost in the recent downturn and to reduce long-term unemployment.
Positive contributions to real GDP growth in the fourth quarter included consumer spending (1.5 percentage points) and fixed investment (0.4 percentage point). Overall government purchases fell (4.6 percent), with substantial declines in Federal defense spending (12.5 percent) and State and local spending (2.6 percent).
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