New York (CNNMoney) – After weeks of Republican attacks over tightening environmental regulations, President Obama said Friday he would halt a planned increase in clean air standards.
In a statement released just hours after the U.S. Labor Department said the economy created no new jobs in August, Obama said he told Environmental Protection Agency head Lisa Jackson to withdraw the draft Ozone National Ambient Air Quality Standards.FULL STORY
Washington (CNN) - Sixteen months ago, the Obama administration announced it was ending a controversial plan to store nuclear waste at Yucca Mountain, Nevada. The news flash - like a flash in a distant fireworks show - created very little noise.
Get ready for the bang.
Washington (CNN) - Obama administration officials declared Wednesday that there is no fallback plan if Congress fails to lift the nation's $14.3 trillion debt limit by August 2, and they warned that inaction could spark a series of catastrophic events.
"There really is no alternative to raising the debt limit," one senior administration official said at a briefing with reporters. "There is no plan that can preserve our credit worthiness."
Washington (CNN) – Former U.S. Sen. George Mitchell is resigning as the Obama administration's Mideast envoy, the White House announced Friday.
Mitchell has served as President Barack Obama's point man in the region as the administration has tried to keep Arab-Israeli peace talks on track.FULL STORY
Washington (CNNMoney) - An Obama administration official gave a strong defense of the Wall Street reform law Tuesday, saying the measure costs a lot less than the alternative: a collapsed financial system.
During a speech at the Pew Charitable Trusts on Tuesday, Deputy Treasury Secretary Neal Wolin batted down accusations, from Republicans and the banking industry, that regulators were working too quickly or that reforms would be too costly.FULL STORY
Washington (CNN) - House Speaker John Boehner said Thursday that the Obama administration is exacerbating rising energy costs and adding an extra financial burden to struggling American families and small businesses.
"The Obama administration has consistently blocked American energy production that would lower costs and create jobs in our country," Boehner said at a press conference announcing a House GOP initiative to push for more domestic energy production.
Washington (CNN) - President Barack Obama will announce key members of his economic team Friday as the administration tries to nudge the U.S. economy into a higher gear, a White House official said.
Gene Sperling will be named as the director of National Economic Council, a key policy post.FULL STORY
(CNN) - Former Federal Reserve Chairman Paul Volcker is stepping down as chairman of President Obama's outside economic advisory panel, according to Democratic sources familiar with the move, as the reshuffling of the White House's economic team continues.
The announcement comes as senior officials say Obama is expected on Friday to make a much more substantial move by officially naming Gene Sperling to replace Larry Summers as the chairman of the National Economic Council, the key policymaking office inside the White House.
(CNN) - High ranking members of the current administration are not the only ones criticizing the dumping of hundreds of classified U.S. government documents by the whistle-blowing website Wikileaks - possible 2012 presidential contender and former Republican Vice Presidential nominee Sarah Palin is also venting her frustration.
In a post published on the social networking site Facebook on Monday, Palin slams the Obama administration over the document leak saying,"...the latest round of publications of leaked classified U.S. documents through the shady organization called Wikileaks raises serious questions about the Obama administration's incompetent handling of this whole fiasco."