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The Obama White House stories filed under US economy

Monday 30 March 2009

Obama forces GM CEO Rick Wagoner to resign

Monday, March 30. The Obama administration has forced Rick Wagoner, the chairman and CEO of General Motors, to stand down. The move has been described by pundits as the most dramatic interference President Barack Obama[continued]

Rick Wagoner
Wednesday 25 March 2009

Obama loses cool with CNN reporter at press conference

Wednesday, March 25. In a primetime press conference at the White House yesterday, Barack Obama told America that he could see signs of economic re-growth and promised: "We will recover from this recession." The President also used the session - which meant the hugely popular American Idol show had to… [continued]

Barack Obama press conference
Wednesday 18 March 2009

Obama and Geithner to claw back AIG bonuses, but is it too late?

Wednesday, March 18. US Treasury Secretary Tim Geithner today announced that failing US insurer AIG would be forced to pay back bonuses it was due to award staff courtesy of a taxpayer bailout. The announcement has mollified many pundits who had been highly critical of the Obama… [continued]

Wednesday 11 March 2009

Congress eases US restrictions on Cuba

Wednesday, March 11. The Democratically controlled US House of Congress has voted to ease restrictions on US dealings with Cuba. New legislation wrapped up in a $410bn spending bill allows Cuban-Americans to visit the island… [continued]


Barack Obama
Tuesday 10 March 2009

Pundits demand action on banks as Obama and Geithner ‘dither’

Tuesday, March 10. They are faced with what many people have called the biggest economic crisis in history. But, according to the pundits, President Barack Obama and his Treasury Secretary Tim Geithner are not handling it very well at all. The accusations levelled against the pair range from "dithering" to… [continued]


Thursday 26 February 2009

Obama announces the 2010 budget

Thursday, February 25. US President Barack Obama has unveiled his nation's budget for 2010 designed to haul America out of the current recession. Among the provisions the new budget makes are a $634bn spend on healthcare reform, the release of $200bn for fighting the wars in Iraq and Afghanistan over… [continued]

Wednesday 25 February 2009

Pundits love upbeat Obama address

Wednesday, February 25. Addressing a joint session of Congress for the first time since he became President last month, Barack Obama yesterday warned that the United States faced a "day of reckoning". He arrived in… [continued]

Barack Obama
Thursday 19 February 2009

Obama launches rescue plan for homeowners - but is it too late?

Thursday, February 19. Having already signed into law an economic stimulus bill worth $787bn, Barack Obama yesterday announced long-awaited plans to bail out as many as nine million American families affected by the US housing crisis, at a cost of $275bn. If passed by Congress, the new measures will refinance… [continued]

Monday 16 February 2009

Four weeks into the presidency and already the pundits are moaning

Monday, February 16. With Barack Obama now four weeks into his presidency, what has he achieved?  He has already put in motion the closure of Guantanamo Bay, made huge diplomatic progress with Iran and pushed through a near $900bn economic stimulus. His approval rating among the American public remains around… [continued]




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Wednesday 11 February 2009

Geithner unimpressive at $3tr bailout launch

Wednesday, February 11. US Treasury Secretary Timothy Geithner yesterday announced the provision of a possible further $3 trillion bail-out funds for the American economy. Unfortunately for Geithner, his plans were so confusing that even experienced… [continued]

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