WASHINGTON (CNN) - Five years after the economic collapse, President Barack Obama warned Americans on Saturday that if Congress does not pass a budget to prevent the government from shutting down, the nation could be headed toward another fiscal calamity.
"After five years spent digging out of crisis, the last thing we need is for Washington to manufacture another," Obama said in his weekly address.
Washington (CNN) - It's been five years since the banking and credit crisis rocked the U.S. economy, causing markets to plunge, unemployment to spike, housing values to crumble and placing more Americans in financial peril than at any time since the Great Depression.
On Monday, President Barack Obama touted his administration's successes in helping to turn things around even though national economic growth remains sluggish and millions of people have given up looking for work.FULL STORY
Washington (CNN) - President Barack Obama and his closest advisers are making it clear: They will not negotiate on the looming debt ceiling.
In an interview on Sunday with ABC, Obama said he "will not negotiate...on the debt ceiling" because making a debate over the credit of the United States the norm would alter "the constitutional structure of this government entirely."
Washington (CNN) – Five years after the economic collapse that defined the first 100 days of President Barack Obama's presidency, the White House is taking credit for "strengthening" the economy, with the president preparing to embark on a week of events aimed at making that argument.
Gene Sperling, a senior economic adviser to the president, said Sunday that while the economic decisions the Obama administration made in 2009 were controversial – citing the Troubled Asset Relief Program, the auto bailout and revamped banking regulations – all have outperformed their original forecasts.
Washington (CNN) – President Barack Obama positioned himself as a president fighting against income inequality, while accusing some Republicans of wanting to "accelerate" a trend that shows the wealthiest Americans reaping most of the benefits in the slow-growing economy.
"You've got a portion of Congress whose policies don't just want to, you know, leave things alone, they actually want to accelerate these trends," Obama said in an interview aired Sunday on ABC's "This Week with George Stephanopoulos." The interview was recorded on Friday.
New York (CNNMoney) - President Obama is set to name Jeffrey Zients as the director of the National Economic Council, one of the top economic policy roles in the White House, a senior administration official confirmed to CNN.
Zients would replace Gene Sperling, who has held the post since January 2011 and also held it during the final years of the Clinton administration.FULL STORY
(CNN) – President Barack Obama met Monday afternoon with "independent financial regulators" to discuss reforms to the banking industry and improvements in the housing market.
Fresh off his family vacation to Martha's Vineyard, Obama specifically discussed the progress made in implementing the Dodd-Frank Wall Street reform law passed in 2010.
Edgartown, Massachusetts (CNN) – President Barack Obama will dust off his presidential bus and head to New York and Pennsylvania for a two day tour next week, the White House announced on Monday.
Obama, currently vacationing on Martha's Vineyard, will use the trip to "discuss another cornerstone of his vision for a better bargain for the middle class," a White House official said, without specifying any details of the president's speeches.
(CNN) - In his weekly address Saturday, President Barack Obama emphasized the plan he laid out earlier this week to further bolster the nation's housing market.
In a speech in Phoenix, Obama called for the phase-out of mortgage giants Fannie Mae and Freddie Mac, and for a greater private-sector role in doling out loans.
(CNN) – With the housing bust's epicenter as his backdrop, President Barack Obama called Tuesday for a full revamp of the government's involvement in home mortgages, including endorsing a full wind-down of loan giants Fannie Mae and Freddie Mac.
The 2008 government bailout of Fannie and Freddie amounted to one of the most expensive government rescues of the financial crisis, costing billions – a tab the president argued Tuesday should never again be left to taxpayers.