April 14th, 2009
01:15 PM ET
5 years ago

Obama: Tough choices ahead

NEW YORK (CNNMoney.com) – President Obama on Tuesday outlined the administration's efforts to restart the economy and warned that tough times and decisions lie ahead, according to prepared remarks of a speech he'll present in Washington.

Obama pointed to more job losses and foreclosures as well as "difficult and unpopular choices" when it comes to restructuring the auto industry and insurance giant American International Group (AIG). The government has already sunk $182 billion into propping up AIG.

The Obama administration is under pressure to address the financial crisis on many different fronts. While job losses and foreclosures continue to mount, the credit markets remain frozen.

Full story


Filed under: Happening Now • President Obama
March 27th, 2009
09:47 AM ET
5 years ago

Obama announces Afghanistan plan

WASHINGTON (CNN) - President Barack Obama announced a "comprehensive" new strategy Friday confronting the growing threat in Afghanistan and now Pakistan.

Obama said "situation is increasingly perilous" in the region and 2008 was the deadliest year of the war for U.S. forces in Afghanistan.

"It's an international security challenge of the highest order," he said in an address at the executive office building. "The safety of people around the world is at stake."

He called on Congress to pass a bipartisan bill co-sponsored by Sens. John Kerry and Richard Lugar authorizing "$1.5 billion in direct support to the Pakistani people every year over the next five years – resources that will build schools, roads, and hospitals, and strengthen Pakistan's democracy."

He is also urging Congress "to pass a bipartisan bill co-sponsored by Maria Cantwell, Chris Van Hollen and Peter Hoekstra that creates opportunity zones in the border region to develop the economy and bring hope to places plagued by violence. And we will ask our friends and allies to do their part – including at the donors conference in Tokyo next month."


Filed under: Happening Now
February 26th, 2009
10:00 AM ET
6 years ago

HAPPENING NOW: Obama introduces budget

Obama is introducing his budget.
Obama is introducing his budget.

(CNN) – President Obama is introducing his budget proposal at the White House.

Watch the event on CNN.com/live

Related: Obama seeks $200 billion for war spending


Filed under: Happening Now
February 19th, 2009
02:54 PM ET
6 years ago

Happening Now: Obama, Harper hold press conference

Watch the event on CNN.com/live.
Watch the event on CNN.com/live.

(CNN) – President Barack Obama and Canadian Prime Minister Stephen Harper are holding a briefing after meeting one-on-one.

Watch the event on CNN.com/live


Filed under: Happening Now
February 12th, 2009
05:32 PM ET
6 years ago

Gregg on his withdrawal

CNN

Watch Gregg explain why he withdrew his name to be Commerce Secretary.

(CNN) - New Hampshire Sen. Judd Gregg held a press conference Thursday explaining why he withdrew his name to be the next Commerce secretary.


Filed under: Happening Now
February 11th, 2009
10:13 AM ET
6 years ago

HAPPENING NOW: Bank CEO's on Capitol Hill

Rep. Barney Frank is presiding over a House committee hearing where the CEO's of several major banks will testify. Watch it on CNN.com/live.
Rep. Barney Frank is presiding over a House committee hearing where the CEO's of several major banks will testify. Watch it on CNN.com/live.

WASHINGTON (CNN) - The CEO's of several large banks that have received funds from the government as part of the Wall Street bailout are testifying on Capitol Hill about how they used public money.

Watch the hearing now on CNN.com/live.


Filed under: Happening Now • TARP
February 10th, 2009
11:16 AM ET
5 years ago

Geithner announces new recovery plan

Treasury Secretary Geithner announced the Obama administration's new financial stability plan Tuesday.
Treasury Secretary Geithner announced the Obama administration's new financial stability plan Tuesday.

(CNN) – Treasury Secretary Timothy Geithner is laying out the specifics of the administration's Term Asset-Backed Securities Loan Facility (TALF) plan.

Watch: Geithner lays out plan

"Instead of catalyzing recovery, the financial system is working against recovery. And at the same time, the recession is putting greater pressure on banks," Geithner said. "This is a dangerous dynamic, and we need to arrest it."

Read Geithner's full prepared remarks after the jump

FULL POST


Filed under: Happening Now
February 4th, 2009
05:03 PM ET
2 years ago

HAPPENING NOW: Obama signs SCHIP

Watch the event on CNN.com/live
Watch the event on CNN.com/live

(CNN) - President Obama is holding a bill signing ceremony to expand the State Children's Health Insurance Program.

Watch the event on cnn.com/live


Filed under: Happening Now
January 30th, 2009
11:10 AM ET
7 months ago

'Middle Class Task Force' announced

 Watch the event on CNN.com/live.
Watch the event on CNN.com/live.

WASHINGTON (CNN) - Facing new evidence of a darkening economic climate, President Barack Obama on Friday established a new middle class task force to assess the status of average-income Americans and recommend new ways to strengthen the economy.

The president also signed several executive orders to support organized labor, a key Democratic constituency.

Addressing an audience of business and union leaders in the White House, Obama said it is time for the the government to act "boldly and swiftly" to assist a struggling middle class.

"The American people expect us to act and that's exactly what I intend to do," he said.

FULL POST


Filed under: Happening Now
January 27th, 2009
11:10 AM ET
7 months ago

HAPPENING NOW: Congress grills Gates on Iraq, Afghanistan

Watch the event on CNN.com/live.
Watch the event on CNN.com/live.

WASHINGTON (CNN) – Defense Secretary Robert Gates opened his first comments to Congress as President Barack Obama's defense secretary Tuesday with the clear message that Afghanistan is at the top of his to-do list.

"There is little doubt that our greatest military challenge right now is Afghanistan," Gates said in his opening statement before the Senate Armed Services Committee, adding that Obama has made it the top military priority overseas.

Watch the testimony on CNN.com/live

Later, in response to a question from the committee's chairman, Sen. Carl Levin, D-Connecticut, he said missile strikes in Pakistan will continue in an effort to root out al Qaeda members who have based themselves across the border from Afghanistan.

And in one of the clearest indications of the military's planning to add troops in Afghanistan, Gates outlined a deployment of two brigades by spring and a third by late summer.

FULL POST


Filed under: Happening Now
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