Motley Moose – Archive

From The City Club of Cleveland

Transcript: Remarks by the President to the City Club of Cleveland

Introductory remarks:

Now, over the course of my presidency, one that began in the depths of a historic crisis, no issue has been more important than the future of our economy.  That’s certainly been of great interest in Ohio and in Cleveland.  No topic has weighed more heavily on the minds of ordinary families, and no subject is more worthy of a great, big, open debate.

Seventy-five years ago, another President came here to Cleveland to engage in this debate.  He was nearing the end of his second term, eight years in office marked by a devastating depression, a hard-fought recovery, fierce political divisions at home, looming threats overseas.  But for all the challenges of a changing world, FDR refused to accept the notion that we are anything less than the masters of our fate.  “We are characters in this living book of democracy,” he said.  “But we are also its author.  It falls upon us now to say whether the chapters that are to come will tell a story of retreat or of continued advance.” […]

Well, after 12 million new jobs, a stock market that has more than doubled, deficits that have been cut by two-thirds, health care inflation at the lowest rate in nearly 50 years, manufacturing coming back, auto industry coming back, clean energy doubled — I’ve come not only to answer that question, but I want to return to the debate that is central to this country, and the alternative economic theory that’s presented by the other side.

Because their theory does not change.  It really doesn’t. It’s a theory that says, if we do little more than just cut taxes for those at the very top, if we strip out regulations and let special interests write their own rules, prosperity trickles down to the rest of us.  And I take the opposite view.  And I take it not for ideological reasons, but for historic reasons, because of the evidence. […]

So when we, the American people, when the public evaluates who’s got the better argument here, we’ve got to look at the facts.  It’s not abstractions.  There may have been a time when you could just say, well, those two theories are equally valid.  They’re differences of opinion.  They could have been abstract economic arguments in a book somewhere.  But not anymore.  Reality has rendered its judgment:  Trickle-down economics does not work.  And middle-class economic does.

More …

The White House has released its Fiscal Year 2016 Budget. The president spoke at the Department of Homeland Security about the budget in general and the importance of a fully funded DHS in particular:

[This budget is] a broader blueprint for America’s success in this new global economy.  Because after a breakthrough year for America — at a time when our economy is growing and our businesses are creating jobs at the fastest pace since the 1990s, and wages are starting to rise again — we’ve got some fundamental choices to make about the kind of country we want to be.

Will we accept an economy where only a few of us do spectacularly well?  Or are we going to build an economy where everyone who works hard has a chance to get ahead? […]

The budget I’ve sent to Congress today is fully paid for, through a combination of smart spending cuts and tax reforms. […]

I’m going to keep fighting to make sure that every American has the chance not just to share in America’s success but to contribute to America’s success.  That’s what this budget is about.

Full transcript below.

The President’s Weekly Address post is also an Open News Thread. Feel free to share other news stories in the comments.

From the White House – Weekly Address

In this week’s address, the President described the progress our economy has made, laying a foundation for a future that prioritizes middle-class economics.

This week, the President will send a budget to Congress centered on the idea that everyone who works hard should have the chance to get ahead. His plan will reverse harmful sequestration cuts and instead make paychecks go further, create good jobs here in the United States, and prepare hardworking Americans to earn higher wages. The President made the case for his budget, and affirmed his commitment to doing everything he can to ensure more Americans can get ahead in this new economy.

(In Spanish, from Juan Gonzalez, asesor del Vicepresidente para asuntos del Hemisferio Occidental, more at  WhiteHouse.gov/Espanol)

The President’s Weekly Address post is also the Weekend Open News Thread. Feel free to share other news stories in the comments.

From the White House –

In this week’s address, the President highlighted the important differences between the budget he’s put forward – built on opportunity for all – and the budget House Republicans are advocating for, which stacks the deck against the middle class.

While the President is focused on building lasting economic security and ensuring that hard-working Americans have the opportunity to get ahead, Republicans are advancing the same old top-down approach of cutting taxes for the wealthiest Americans and slashing important investments in education, infrastructure, and research and development.

Late Thursday evening, the U.S. House of Representatives passed a two-year budget with bipartisan support.

As would be expected from a bipartisan agreement, there are unhappy people on both sides of the aisle.

But the news, and the important news, is that we have a budget resolution which will fund the government for the next two years. When it passes the Senate, it means that for the first time in three years, we do not have to worry about government shutdowns being used as leverage to extract concessions, usually ones that take whacks at the social safety net.

From the White House – Weekly Address

In this week’s address, President Obama says that in order to keep growing the economy and creating good jobs, Washington must end its cycle of manufactured crises and self-inflicted wounds. It’s time for both parties to work together to pass a budget that reflects our priorities – making smart cuts in things we don’t need and closing wasteful tax loopholes, while investing in areas that create opportunities for the middle class and our future generations.

President Obama: "To all my friends in Congress, understand that how business is done in this town has to change."

— The White House (@WhiteHouse) October 17, 2013

President Obama: "You don’t like a particular policy, or a particular President, then argue for your position and win an election."

— The White House (@WhiteHouse) October 17, 2013

President Obama: "I have a simple message for all the dedicated and patriotic federal workers…thank you for your service. Welcome back."

— The White House (@WhiteHouse) October 17, 2013

President Obama’s agenda for moving forward:

– Balanced approach to budget, cut deficits, grow economy

– Fix Immigration

– Pass Farm Bill

Full transcript below the fold.  

From the White House – Weekly Address

In his weekly address, President Obama says the economy is making progress five years after the worst recession since the Great Depression, but to avoid another crisis, Congress must meet two deadlines in the coming weeks: pass a budget by the end of the month to keep the government open, and raise the debt ceiling so America can pay its bills. Congress should vote to do these now, so that we can keep creating new jobs and expanding opportunity for the middle class.

If, like me, you are of the 96 million Americans who rely on a not-for-profit credit union for fairly priced financial services, it’s not too late to make your voice heard.  Finance Committee leaders are working on a proposal for a new U.S. tax code and Big Banks are asking them to pick the pockets of Credit Union members.

Banks pushing for repeal of credit unions’ federal tax exemption

The Big Banks have armies of lobbyists loaded with cash and they are pressuring Congress to revoke the income tax exemption for not-for-profit Credit Unions. The Big Banks don’t like the competition and they especially don’t like the market pressure that forces them to rein in fees.

Credit Unions have their members, their voices, and their stories. It’s time to use them.

From America’s High School Newspaper:

Federal budget cuts in the U.S are coming too fast and slowing the pace of the U.S. recovery, the International Monetary Fund says in a new assessment of the U.S. economy.

When even the original Austerians think we’re too austere… well… I reckon there’s a problem.

Even more interesting is the advice from Director Lagarde:

In a press briefing Friday on the IMF’s forecast, IMF managing director Christine Lagarde said the U.S. should slow down budget cuts now but move faster in shaping a longer-term deficit reduction plan that would take hold when the economy is stronger.

In “TheresMoreVille,” we’ll see who else has been espousing such a strategy…