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| Some Presidents work for a better America |
I received a comment a couple of weeks back from a reader who asked me the following.
“Why do you support Obama. I am curious.”
While I answered the commenter, President Obama’s leadership this week was clearly obvious. Results from Administration programs and direct action from the president are noteworthy.
A midst all of the hoopla and political maneuvering, evidence of President Obama’s leadership continues to roll steadily forward.
Recent indications of our being in ‘good hands’ are :
A. Movement to counter rising gasoline prices (at the pump)
B. CBO estimates that healthcare reform (Affordable Care Act) will cost less than previous CBO estimates.
C. Unemployment continues to improve.
D. Market indicators are at a five year high.
Movement on Gas Prices
Reuters – Richard Mably reports
LONDON–Britain has decided to cooperate with the United States in a bilateral agreement to release strategic oil stocks, two British sources said, in an effort to prevent high fuel prices derailing economic growth in a U.S. election year.
A formal request from the United States to the UK to join forces in a release of oil from government-controlled reserves is expected “shortly” following a meeting on Wednesday in Washington between President Barack Obama and Prime Minister David Cameron, who discussed the issue, one source said.
My comments in support of the ‘strategic reserves release’ date back about a week. It became clearly obvious that prices would continue to climb and to climb at a time (of year) unparalleled in history. Prices generally start seasonal increases well later than this year’s climb.
The Reuter’s article covers many facets of taping oil reserves. Mably’s work includes comment about how other nations plan to deal with higher prices, and he frankly layouts out Administration concern for higher prices impact on President Obama’s prospects for reelection.
Rising world oil prices have pushed U.S. gasoline prices up sharply this year and threaten to choke economic recovery ahead of Obama’s bid for re-election in November
“At the moment there is no need to use it (strategic reserves),” IEA executive director Maria van der Hoeven said at an industry conference in Kuwait on Wednesday.
“There is more supply coming to the market from OPEC countries. There is no price trigger for the stocks release, the trigger is a disruption in physical supplies.”
“There is no real supply disruption, this is just price management”, said Olivier Jakob from Vienna-based consultancy Petromatrix.
CBO estimates that healthcare reform (Affordable Healthcare Act-ACA) will cost less than previous CBO (Congressional Budget Office) estimates.
The GOP continues to use repealing ACA as political mantra. President Obama has asked the Supreme Court to rule on the ACA “mandate”. We continue to receive reports of how ACA is benefiting millions across the nation, (e.g., pre-existing conditions and coverage to the young). Right-wing mantra, coupled with the spreading perception of benefit from ACA, are now accompanied by an even more important deficit report from the CBO.
The independent budget review agency released a report that will garner little to no comment from America’s conservatives and Fox News. March 2012 CBO and JCT (Joint Committee on Taxation have revised budget baseline projections to show a $50 billion savings over previous projections.
The Estimated Net Cost of the Insurance Coverage Provisions Is Smaller Than Estimated in March 2011
CBO and JCT now estimate that the insurance coverage provisions of the ACA will have a net cost of just under $1.1 trillion over the 2012-2021 period-about $50 billion less than the agencies’ March 2011 estimate for that 10-year period. (For comparison with previous estimates, these numbers cover the 2012-2021 period; estimates including 2022 can be found below.)
The CBO/JCT revised projections is nothing shy of great news. I previously mentioned the GOP calls for repeal of the ACA. Competent members of the White House Staff has addressed that ridiculously political act via the following video. Does the nation really need to take on additional deficit spending on appeal of the ACA?
White House.gov
Unemployment continues to improve.
As we look at yet and other chart related to jobs growth, we should also keep-in-mind that small print at the bottom of the chart. It is also critical that we remember, the Bush Administration lied about the nation’s move into economic recession. The ‘Great Recession’ started in December 2007. During early 2008, we witnessed face-after-face of nervous White House officials lying about the nation ”not being in” recession. Interestingly, the White House eventually admitted the beginning of the recession as December 2007; the admission came in December of 2008. One very notable national event took place between December 2007 and December 2008. The nation held a General Election, and the GOP ticket lost that election. UUUUUM, Admission after an election! I should not overlook another extremely important 2008 nation event: the nation’s economy collapsed.
While President Obama works to move the nation forward, it is important for the informed to remain diligent in reminding all of GOP governance as the nation slipped into the Great Recession. They hid facts, lied about economic conditions, and all the while ignored telling signs of doom.
And, now they want us to turn the nation back over to people who show character at levels far below that of George W. Bush.
Market indicators are at a five year high
Historical chart ( available chart date adjustable by date and larger view available - great site)
| 13253 | ||
| 11018 | ||
| 8782 |
| Jan 20, 2009 | Mar 15, 2012 |
As Barack Obama was inaugurated as President
Snapshot of Jan. 20, 2009
| Date | Open | High | Low | Close |
|---|
| Jan 20, 2009 | 8,279.63 | 8,291.98 | 7,939.93 | 7,949.09 |
January 20, 2009: 7,949.09
March 15, 2012″ 13,253.00
