Motley Moose – Archive

Reuters: Obama picks Yellen for top Fed job, urges quick Senate approval

President Barack Obama nominated Federal Reserve Vice Chair Janet Yellen on Wednesday to run the world’s most influential central bank and urged the Senate to confirm her without delay.

Yellen, an advocate for aggressive action to stimulate U.S. economic growth through low interest rates and large-scale bond purchases, would replace Fed Chairman Ben Bernanke, whose second term ends on January 31.

The nomination will put Yellen on course to be the first woman to lead the institution and the first to head a central bank in any Group of Seven industrial nation.

President Obama held a press conference today where he discussed the shutdown and the impasse over the debt ceiling.

The President:

This morning I had a chance to speak with Speaker Boehner. And I told him what I’ve been saying publicly, that I am happy to talk with him and other Republicans about anything — not just issues I think are important but also issues that they think are important. But I also told him that having such a conversation, talks, negotiations shouldn’t require hanging the threats of a government shutdown or economic chaos over the heads of the American people.

Transcript of the president’s remarks follow.

From the White House – Weekly Address

In this week’s address, President Obama said that Republicans in the House of Representatives chose to shut down the government over a health care law they don’t like. He urged the Congress to pass a budget that funds our government, with no partisan strings attached.  The President made clear he will work with anyone of either party on ways to grow this economy, create new jobs, and get our fiscal house in order for the long haul – but not under the shadow of these threats to our economy.

From the White House – Weekly Address

In this week’s address, President Obama says that on October 1st, a big part of the Affordable Care Act will go live and give uninsured Americans the chance to buy the same quality, affordable health care as everyone else. It is also the day when some Republicans in Congress might shut down the government just because they don’t like the law. The President urged Congress to both pass a budget by Monday and raise the nation’s debt ceiling so that we can keep growing the economy. He also said that those without health insurance and those who buy it on the individual market should visit HealthCare.gov to find out how to get covered on Tuesday.

When President Obama speaks to friendly crowds, especially crowds of students, there is usually one point in the speech where someone in the crowd shouts out “I love you!”. The president answers with “I love you back!”.

Yesterday he was speaking to a crowd at Prince George’s Community College in Largo, Maryland and the speech started with that exchange. His main topic was the Affordable Care Act, gearing up for the next phase on January 1, 2014 where millions of Americans will be covered under new insurance policies purchased on exchanges. The sign-up period for the new coverage starts next Tuesday, October 1 and runs through March 31, 2014. The Health Insurance Marketplace will be open for business here: Healthcare.gov.

The president’s speech (51 minutes and 32 seconds … and worth every second):

The president said to expect glitches. Lots of people say to expect glitches … it is a big program, it is a new program, and it is, unfortunately one that the administration has had to tweak on its own since the Republican House of Representatives has been unwilling to make any improvements to it. From Bloomberg News: Don’t be alarmed by Obamacare failures:

If things don’t run smoothly from the get-go, it won’t mean that this piece of the Patient Protection and Affordable Care Act has failed. Three months will remain before coverage from insurance plans sold on the exchanges even kicks in. And there will be many months and years beyond that to smooth the wrinkles. Obamacare supporters often point to how much ironing out Medicare Part D, the prescription drug program, needed when it came into effect in 2006. Even Medicare and Medicaid have been tweaked more than 20 times since they were enacted in 1965.

President Obama made a point of mentioning that the “Republicans’ biggest fear at this point is not that the Affordable Care Act will fail. What they’re worried about is it’s going to succeed“. Indeed.

Here’s what the president said we can expect:

… Medicare and Social Security faced the same kind of criticism.  Before Medicare came into law, one Republican warned that “one of these days, you and I are going to spend our sunset years telling our children and our children’s children what it once was like in America when men were free.”  That was Ronald Reagan.  And eventually, Ronald Reagan came around to Medicare and thought it was pretty good, and actually helped make it better.

So that’s what’s going to happen with the Affordable Care Act.  And once it’s working really well, I guarantee you they will not call it Obamacare. (Laughter and applause.)

Here is a prediction for you:  A few years from now, when people are using this to get coverage and everybody is feeling pretty good about all the choices and competition that they’ve got, there are going to be a whole bunch of folks who say, yes, I always thought this provision was excellent.  I voted for that thing.  You watch.  

Oh, and we can also expect this … from President Obama: “I love you back”. The Affordable Care Act, dedicated to his mother who died while fighting insurance companies and worrying about paying the bills, is about caring … and it is one of the things he does best.

~

(Links to the White House Web Site on the Affordable Care Act are below the fold.)

From the White House – Weekly Address

In his weekly address, President Obama says the economy is making progress five years after the worst recession since the Great Depression, but to avoid another crisis, Congress must meet two deadlines in the coming weeks: pass a budget by the end of the month to keep the government open, and raise the debt ceiling so America can pay its bills. Congress should vote to do these now, so that we can keep creating new jobs and expanding opportunity for the middle class.

Yesterday in a speech to the Business Roundtable, President Obama clearly labeled the teaparty Republicans as extortionists. And in doing so, he challenged their grasp of history and the foolishness of their insistence on holding the debt ceiling hostage to their ideology.

Despite pleas from the Chamber of Commerce and Republicans who are not 100% bat-guano crazy (not quite “reasonable” or “sensible” but somewhat left of “stark raving mad” on the crazy continuum), the House gave in to the demands of the Kamikaze Wing of the Republican Party, aka Ted Cruz.

By: inoljt, http://mypolitikal.com/

There is one thing that I’m very proud that the Obama campaign did – or rather, that it didn’t do. Obama’s campaign never attacked Mitt Romney’s faith.

More below.

From the White House – Weekly Address

President Obama follows up on his speech to the nation on Tuesday and describes the possibility for a diplomatic solution in Syria, partially because of the credible threat of U.S. military force.

From the White House – President Obama Addresses the Nation on Syria

Just after 9:00 PM ET [on Tuesday, Sept. 10, 2013], President Obama delivered a national address from the East Room of the White House to discuss the situation in Syria. He explained why he has called for military strikes in response to the Assad regime’s use of chemical weapons, laid out his reasons for asking Congress to authorize the use of force, and described how the threat of U.S. action has created the potential for a diplomatic breakthrough.

“Terrible things happen across the globe, and it is beyond our means to right every wrong,” the President said. “But when, with modest effort and risk, we can stop children from being gassed to death, and thereby make our own children safer over the long run, I believe we should act.”