Tag Archives: Economy

U.S., E.U. Face Issues Ahead of Summit || New Trends in Farming || President Obama on MTV

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The United States and the European Union prepare for a summit. Woman are taking the lead in agriculture in many developing countries. Meet Modadugu Gupta, a pioneer in the field of aquaculture. And President Obama appears on MTV.

Critical Issues Ahead of the G20 Summit
In October 2008, at the peak of the financial crisis, world financial leaders cooperated to take “exceptional action” to stabilize the global financial system. However, in recent months, trans-Atlantic differences have emerged over a variety of international financial issues. Now, less than one month before the summit of the Group of 20 major economies in Seoul, South Korea, the United States and European Union are facing a critical test of their will to agree on financial issues critical not only to their own economies, but to the rest of the world too. Above, Obama with other G20 leaders.

Growing Opportunities for Women Farmers
In rural Kenya, women have very few resources of their own, but are primarily responsible for feeding their families and doing the bulk of the household and farm work. Now, 80 percent of the farmers are women. In this feature, we profile women who have taken the initiative to change their lives, and, in the process, increase the perception that women can contribute economically to their society.

Photo Gallery: A Pioneer in Fish Farming
Modadugu Gupta, who witnessed the struggles of local fisherman while growing up in eastern India, is a biologist and humanitarian whose work has multiplied the quantity of edible fish in Asia and improved the lives of farmers. Gupta was also instrumental in getting women involved in fish farming, and now they outnumber male fish farmers in many countries. “My father used to take me to the seashore, and I saw the fishermen coming in. They could hardly meet their daily needs. That’s where my interest in fisheries started,” says Gupta, who received the World Food Prize in 2005. Learn more about Gupta and his techniques in this photo gallery.

President Obama on MTV
President Obama led a discussion on MTV last week; an appearance that helped him connect with the country’s youth.  Approximately 250 people attended the event, and many more tuned in on MTV, Country Music Television (CMT) and Black Entertainment Television (BET), all of which are known to attract young audiences.

A Recovery Prescription || Afghan Refugees || Iranian Art

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Federal Reserve Chairman Benjamin Bernanke has a prescription for economic recovery. The Obama administration is offering new help for Afghan refugees. The U.S. Treasury Department delays a report on Chinese currency.  U.S. and Mexican authorities are taking new steps against methane, carbon’s evil cousin. Pirates present a threat to maritime enterprises worldwide. U.N. Secretary-General Ban Ki-Moon calls for cooperation on food security. And meet an American film maker with an eye for Iranian art.

Ingredients for Recovery
Sustained expansion of the U.S. economy must ultimately be driven by exports and growth in consumer spending and investments, says Federal Reserve Chairman Benjamin Bernanke. “Overall economic growth has been proceeding at a pace that is less vigorous than we would like,” says Bernanke, right.

Helping Afghan Refugees 
The Obama administration has pledged an additional $1 million dollars to help rehabilitate areas of Pakistan that have been affected by Afghan refugees. The funds will go to improve social services and infrastructure for both Afghan refugee and local Pakistani communities.

China Currency Report Delayed
The United States Treasury delayed publishing a report on China’s currency policies until after the Group of 20 advanced economies meets in Seoul November 11. The U.S. has been concerned that China may have been manipulating its currency, the renminbi or yuan, against the U.S. dollar to gain an unfair trade advantage.

The Other Greenhouse Gas
The U.S. Environmental Protection Agency has teamed with Mexico’s Ministry of Environment and 36 other countries to renew the push to rein in emissions of methane, a colorless hydrocarbon gas with a heat-trapping capacity 20 times that of carbon dioxide.

Piracy, a Global Threat
Maritime piracy off the coast of Somalia is a global challenge and the international community must step forward to help, U.S. Assistant Secretary of State for African Affairs Johnnie Carson says.

A Call to Ensure Food Security
At the 36th annual Committee on World Food Security, U.N. Secretary-General Ban Ki-Moon echoed a call by U.S. leaders for a comprehensive and cooperative approach to ensure food security for the 925 million hungry people in the world.

Exploring Iranian Women’s Art
American Filmmaker Robert Adanto says he is fascinated by the Iranian art featured in his new documentary Pearls on the Ocean Floor, but even more by the women who have created that art and their view of the Iranian society in which they live — or which they have left behind. Adanto, right, says, “For me, just the act of creating — of painting, of sculpting, of dancing — that’s humanity at its best. It’s our elevated self,” and that the female Iranian artists he features in his film are creating at great odds.

 

The President's Town Hall Meeting

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President Obama at yesterday's town hall meeting

On Monday President Obama held a town hall meeting at the Newseum in Washington, D.C.  He used the event to speak about the U.S. economy, and he also took questions from the men and women who were in attendance.  Americans who were not at the meeting could watch it on television. 

President Obama told the group, “The whole reason I ran was because my life is a testimony to the American Dream. And everything that we’ve been doing since I came into office is designed to make sure that that American Dream continues for future generations.”

He continued, “Look, we still have the best universities in the world. We’ve got the most dynamic private sector in the world. We’ve got the most productive workers in the world…For all the problems that we’ve got, as tough as things are right now, we are still the country that billions of people around the world look to and aspire to. And I want everybody to always remember that.”

Those in attendance asked the President about taxes, small businesses, his views on Wall Street, and his post-midterm election plans.  You can read the full transcript of President Obama’s town hall meeting on the White House website.

President Obama Visits Local Family to Discuss U.S. Economy

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President Obama with the Nicholas/Armstrong family

Yesterday President Obama visited the home of John Nicholas, Nicole Armstrong, and their twins Trevor and Olivia.  John works as an engineer, while Nicole works part-time at a local preschool.  They live in Fairfax, Virginia, which is a suburb of Washington, D.C. 

The President’s mission?  To discuss the U.S. economy. 

In addition to meeting with the Nicholas/Armstrong family, President Obama also held a meeting with the family’s neighbors and friends in their backyard.  For 65 minutes he answered questions from the small crowd on topics ranging from stem cell research to loans for small businesses to how he works with Republicans in Congress. 

 President Obama meeting with local residents

In his opening remarks to the crowd, the President talked about what his administration has already done to try to help the U.S. economy improve, such as investment in infrastructure, new regulations to protect credit card users, and education reform. 

The President also talked about what his administration is currently trying to do to help the U.S. economy.  For example, he said he would like to provide tax breaks to companies that are investing in research and development here in the United States instead of those that invest overseas.

To sum up his vision the President said, “If we make investments and improve our education system; if we make investments in research and development; if we make investments in things like clean energy so that we’ve got an energy policy that’s not just tied to importing oil from the Middle East but instead start figuring out how can we develop our homegrown industries; if we have a tax system that is fair and helps the middle class, and that also attends to our long-term deficit problems; if we regulate — but not with a heavy hand — just regulate enough to make sure that we don’t have a collapse of the financial system, and consumers aren’t taken advantage of, and health insurance companies are responsive to ordinary families — if we do those things, there’s no reason why we can’t succeed.”

You can watch video of President Obama’s backyard meeting with local residents here:  http://www.whitehouse.gov/blog/2010/09/13/president-obama-a-fairfax-backyard

Obama: "The America I Believe in."

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President Obama arrives in OhioYesterday President Obama traveled to Cleveland, Ohio to talk to American citizens about his priorities for the economy.  He spoke about the two initiatives he has recently been promoting: investing in American infrastructure, – roads, bridges, and runways – and the Research and Experimentation Tax Credit for businesses.  Speaking to the crowd, the President said,

“Yes, our families believed in the American values of self-reliance and individual responsibility, and they instilled those values in their children.  But they also believed in a country that rewards responsibility.  A country that rewards hard work.  A country built upon the promise of opportunity and upward mobility.”  

“They believed in an America that gave my grandfather the chance to go to college because of the GI Bill.  An America that gave my grandparents the chance to buy a home because of the Federal Housing Authority.  An America that gave their children and grandchildren the chance to fulfill our dreams thanks to college loans and college scholarships.”

“It was an America where you didn’t buy things you couldn’t afford; where we didn’t just think about today – we thought about tomorrow.  An America that took pride in the goods it made, not just in the things it consumed.  An America where a rising tide really did lift all boats, from the company CEO to the guy on the assembly line.”

“That’s the America I believe in.”

Obama pays visit to Wisconsin smart-energy manufacturer

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President Barack Obama with ZBB President and CEO Eric Apfelback, and ZBB employee Lonnie Mages

President Barack Obama with ZBB President and CEO Eric Apfelback, and ZBB employee Lonnie Mages

Monday President Obama made remarks at the ZBB Energy Corporation manufacturing facility, a producer of battery technology and “smart” energy control and management systems in Menomonee Falls, Wisconsin. The company is currently using Recovery Act State Energy Program loans to expand to three times its current manufacturing ability, and keep workers as well as hiring many new ones. The President noted the importance of creating jobs in manufacturing in companies like ZBB.

“We expect our commitment to clean energy to lead to more than 800,000 jobs by 2012,” President Obama stated. “And that’s not just creating work in the short term, that’s going to help lay the foundation for lasting economic growth. I just want everybody to understand –just a few years ago, American businesses could only make 2 percent of the world’s advanced batteries for hybrid and electric vehicles — 2 percent. In just a few years, we’ll have up to 40 percent of the world’s capacity.”

President Obama used the occasion to highlight two of his major policy issues: creating jobs, and supporting the use of renewable and green energy alternatives. The Recovery Act State Energy Program seeks to promote both of these outcomes by providing economic incentives for companies producing these technologies.

“This is part of steps we’ve taken in clean energy,” the President said. “Steps that have led to jobs manufacturing wind turbines and solar panels, building hybrid and electric vehicles, modernizing our electric grid so that we have more sources of renewable energy but we can also use it more effectively.”

I think that the U.S. producing cleaner energy sources wouldn’t only be great for Americans, but for people around the world. What do you think? Should the U.S. help lead the way with green energy? Be sure to check out the White House’s blog about it, or the Council on Environmental Quality’s blog.

Obama Meets with New Orleans Saints

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On Monday, the New Orleans Saints football team paid a visit to the White House, where President Obama commemorated their 2009-2010 Super Bowl win. The President noted the morale boost the team gave the city of New Orleans, which is still recovering from the 2005 Hurricane Katrina disaster and is now dealing with the effects of the Gulf Oil Spill.

“[P]lenty of cities carry their sports teams through a tough season,” the President remarked. “It’s a rare thing when a sports team carries a city through tough times.”

During the ceremony, the guests enjoyed traditional Louisiana cooking, including a 30 foot “po’ boy” sandwich. The meal was a reminder of the Gulf Oil Spill that has left the region’s fisheries struggling. Fishermen are just starting to open up their businesses again. Obama has pledged to help the region in its recovery.

“I made a commitment to the people of the Gulf Coast that I would stand by them not just until the well was closed but until they recovered from the damage that’s been done,” he said. “And that’s a commitment my administration is going to keep. So with the ongoing reopening of Gulf fisheries, we’re excited that fishermen can go back to work and Americans can confidently and safely enjoy Gulf seafood once again.”

After his speech, the team’s quarterback Drew Brees presented President Obama with a personalized team Jersey with his name on the back. A video of the event is available here.

Even though I’m not a Saints fan myself, I still think it’s great for the city of New Orleans that they had such a great season, don’t you think?

Obama talks education in the Lone Star State

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President Obama visited Texas Monday to attend Democratic fundraising events and speak about higher education at the University of Texas at Austin.

Obama spoke to a crowd of 3,500 students, faculty and guests about the importance of education and his commitment to making college affordable. His strategy includes offering direct government loans, increasing the maximum amount of government grants and simplifying financial aid applications.

“I’m absolutely committed to making sure that here in America, nobody is denied a college education, nobody is denied a chance to pursue their dreams, nobody is denied a chance to make the most of their lives just because they can’t afford it,” he said. “We are a better country than that, and we need to act like we’re a better country than that.”

As a current university student, I’m invested in seeing how Obama’s efforts will affect my college experience. What do you think about his education policy?

The President’s Forum with Young African Leaders kicks off in Washington, DC

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On Tuesday I had the privilege of helping out at The President’s Forum with Young African Leaders, a meeting of 115 bright minds and future leaders of Africa hosted in Washington, DC. The conference, in part, acknowledges the 50 years of independence that 17 sub-Saharan African nations celebrate this year. The forum gives the African delegates and U.S. officials the opportunity to get together and discuss the future of the African continent, and how they can cooperate to make the hopes and ambitions of Young Africans for the future a reality.

During the hours that I spent helping to guide the delegates to their meetings and discussions at the Department of State, I was struck by the enthusiasm, friendliness, and frankness with which they approached the event and interacted with each other. Despite traveling as long as 48 hours to the U.S., they seemed brimming with energy. The group included delegates from many different backgrounds and professions, all of whom shared a common passion for the future of Africa and their own countries.

It was also clear that they were excited to meet with President Barack Obama at a town hall meeting later that day: really excited.

During the meeting the delegates were able to ask the President questions face-to-face. The topics discussed included economy, corruption, fighting HIV/AIDS, and the role of the U.S. in supporting and encouraging African development.

The President addressed the issues raised and didn’t overlook some of the major difficulties facing many regions in Africa. “Across Africa today, there’s no denying the daily hardships that are faced by so many,” the President noted. “The struggle to feed their children, to find work, to survive another day. And too often, that’s the Africa that the world sees.”

However, the President stressed his optimism that Africa has the potential and the promise to emerge as a region of growth and innovation. “Today, you represent a different vision, a vision of Africa on the move…” the President said. “An Africa that’s ending old conflicts… an Africa that’s pursuing a broadband revolution that could transform the daily lives of future generations.”

The President, in his remarks before the question-and-answer session, specifically mentioned some of the delegates in the forum by name, and their accomplishments. He noted that young leaders like them would be the ones who lead Africa to further development, saying “yes, youth can!” A full transcript of Obama’s remarks and the question-and-answer discussion is available here, and a video is available here.

I really enjoyed getting to meet the delegates, and wish them all the best with their remaining time in Washington. Their enthusiasm gives me a lot of optimism for the future of Africa, and the administration’s engagement with them shows that the U.S. is a strong partner and friend.

Obama Greeting Delegates

Obama addresses U.S. automaker recovery

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On Monday President Obama spoke from the GM plant in Detroit, Michigan, about the U.S. auto industry’s recovery following the recent world financial crisis.

“Since GM and Chrysler emerged from bankruptcy, our auto industry has added 55,000 jobs – the strongest period of job growth in more than ten years,” the President said. “Sales have begun to rebound. And plants like this that wouldn’t have existed if all of us didn’t act are now operating maximum capacity.”

The President emphasized that the decision for the government to invest in the U.S. auto industry was met with some controversy, but praised the jobs the contribution created. A full transcript of his remarks is available here.

The President also used the opportunity to encourage legislative backing of his recent proposal to support U.S. small businesses. He also mentioned the progress U.S. carmakers have made in producing greener automobiles, like the Chevy Volt, and even checked out the interior of one or two.