(Full text as provided by the White House)
Prepared Remarks of President Barack Obama
Saturday, August 8th, 2009
On Friday, we received better news than we expected about the state of our economy. We learned that we lost 247,000 jobs in July – some 200,000 fewer jobs lost than in June, and far fewer than the nearly 700,000 a month we were losing at the beginning of the year. Of course, this is little comfort to anyone who saw their job disappear in July, and to the millions of Americans who are looking for work. And I will not rest until anyone who’s looking for work can find a job.
Still, this month’s jobs numbers are a sign that we’ve begun to put the brakes on this recession and that the worst may be behind us. But we must do more than rescue our economy from this immediate crisis; we must rebuild it stronger than before. We must lay a new foundation for future growth and prosperity, and a key pillar of a new foundation is health insurance reform – reform that we are now closer to achieving than ever before.
WASHINGTON (CNN) - The "Cash for Clunkers" program will continue with a $2 billion supplement that some analysts say could provide a boost of billions of dollars more as it reverberates through the economy.
Critics, however, say the program merely shifts consumer spending from one area to another.
President Barack Obama on Friday morning signed the bill extending the program.
The program provides consumers a cash rebate of up to $4,500 when they turn in older, gas-guzzling vehicles and buy newer, more fuel-efficient ones.
Congress passed the $2 billion expansion after reports that the original $1 billion earmarked for the program would soon run out. According to some estimates, the total of $3 billion in the Cash for Clunkers program could result in an $18 billion boost to the overall economy.
(CNN) - Sarah Palin is accusing President Obama’s health care plan of looking to create a “death panel” that would weigh whether her parents or son Trig were “worthy of health care.”
"Americans delve into the disturbing details of the nationalized health care plan that the current administration is rushing through Congress, our collective jaw is dropping, and we’re saying not just no, but hell no!" the former Alaska governor said in a post on her Facebook page late Friday.
In one of her first public policy statements since leaving office late last month, Palin discounted the administration’s view that the president’s plan would cut health care costs. The only path to lower costs, she said, was less treatment.
"And who will suffer the most when they ration care?" she wrote. "The sick, the elderly, and the disabled, of course. The America I know and love is not one in which my parents or my baby with Down Syndrome will have to stand in front of Obama’s 'death panel' so his bureaucrats can decide, based on a subjective judgment of their 'level of productivity in society,' whether they are worthy of health care. Such a system is downright evil."
(CNN) - Sonia Sotomayor, who rose from humble roots in a Bronx, New York, housing project to a high-powered legal career, was sworn in Saturday as the 111th justice of the U.S. Supreme Court.
With friends and family looking on, the 55-year-old jurist took the judicial oath in the court's wood-paneled East Conference Room, pledging to "faithfully and impartially discharge and perform all the duties incumbent on me."
It was the first time such a ceremony was televised.
Chief Justice John Roberts administered the 62-word oath required of all federal judges. In a private ceremony just moments before, Sotomayor took a separate, constitutional oath across the hall. Both oaths are necessary for her to assume her new duties.
(Full text of the Republican address, as provided by the RNC):
“Hi, I’m Bob McDonnell from Virginia.
“Times are tough in our state, and in yours. Yesterday’s jobs’ report is yet another reminder that families and small businesses are struggling as unemployment remains high.
“Here in Virginia, we face unemployment rates at a twenty-five year high. As I travel throughout Virginia, I listen to our people who are concerned about the jobs they have, worried about finding the jobs they need, and concerned about what jobs will be available for their kids in the years ahead.
Editor's note: On CNN's "State of the Union," host and chief national correspondent John King goes outside the Beltway to report on the issues affecting communities across the country.
EUGENE, Oregon (CNN) - Julie Bonneau knew it was coming.
"There were five of us, including the owners. I did the books ... and I could see it was getting tight, money was. They just weren't making the money."
It was just before Christmas.
They let me go, and they knew I was going to sink," the 42-year-old single mother recalled. "Two weeks later, I lost my apartment. No money coming in, no money to pay rent."
For a couple of weeks, she lived in her van - until it broke down. Now, she crashes on friends' couches, and her three children sleep at her ex-husband's apartment.
"I'm grateful because he was there to pick up the ball when I just couldn't do it anymore," Bonneau said.