Obama turns to the settings
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Obama turns to the settings

Obama : Japan | Aug 15, 2011 at 1:28 AM PDT
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GOP Response To President Obama's Debt Ceiling Address - 07/25/11

Last week, the first after the rating agency Standard & Poor's downgraded the rating of the U.S. public debt, Barack Obama worked to dispel doubts about trying the strength of the U.S. economy. On Wednesday he met with his economic team and the president of the Federal Reserve (Fed), Ben Bernanke, who announced yesterday that interest rates will remain low until 2013, a pessimistic prediction. He promised more jobs on a visit to a factory in Michigan. And on Friday met with representatives of the largest U.S. companies, stimulate the market looking laboral.Un patriots dyes speech, delivered on Monday before the close of the stock, missed its target and causing them to fall further. It was, again, a black Monday, the Dow Jones industrial average experiencing its sixth worst decline in the past 112 years. There was not Obama's agenda a week that did not have anything to do with the economy, except for a reception on Friday, the winners of the Super Bowl. His team works hard to achieve two objectives: to reduce unemployment and make the cuts to be put forward to spending be accompanied by increased taxes on higher incomes.In the negotiations on the debt ceiling, the Republicans put a condition that dramatically decreased public spending. After many rebuffs, the Congress and Obama accepted $ 2.2 trillion cut over the next decade. It was the first time that a president accept such a pact. Since 1962, the debt ceiling had expanded by 74 times.The president has worked in various public appearances, to list the many reasons beyond that in his opinion, have complicated the U.S. economic recovery. There are two main reasons highlighted: external factors, developments in other continents and staged the intense political division in the negotiations of the debt ceiling, which left the U.S. on the brink of default."We can not ask the middle class, working families, who bear the weight of these adjustments," he said Thursday. "We must eliminate these tax cuts to billionaires rather than having to eliminate scholarships for students," he added. The election campaign starts in six months.

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Shaziakhan is based in Kahror Pakka, Punjab, Pakistan, and is a Reporter on Allvoices.
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