Skip to content
Catholic Online Logo

By Catholic Online (NEWS CONSORTIUM)

9/16/2013 (2 years ago)

Catholic Online (

President to make rose garden speech about efforts to shore up U.S. Economy

In the final days of George W. Bush's tenure in office, the United States economy went into an unbridled free fall. Lehman Brothers declared bankruptcy in 2008, plunging the nation into a profound recession. When Obama took office in January of 2009, he took controversial steps to stabilize the U.S. Economy. Five years later, the president is about to give a rose garden speech on the steps his administration took, and the progress that has been made. Many republicans have described Obama's measures as "mediocre" as best, and that much more work needs to be done.

The president's scheduled visit to the Ford plant is being interpreted that the White House plans to tout its accomplishments with the auto industry.

The president's scheduled visit to the Ford plant is being interpreted that the White House plans to tout its accomplishments with the auto industry.


By Catholic Online (NEWS CONSORTIUM)

Catholic Online (

9/16/2013 (2 years ago)

Published in Politics & Policy

Keywords: Recession, president Obama, auto industry, criticism

LOS ANGELES, CA (Catholic Online) - House Speaker John Boehner maintains that economic growth remains shaky and national debt continues to grow. "The sooner President Obama starts working with both parties to . solve Washington's spending problem, the stronger our economy will be for all Americans," Boehner says.

It also appears that the American public doesn't view the economic situation through rose-colored glasses. Six in 10 Americans told Gallup last month that economic conditions are getting worse. An economist at the University of California, Berkeley, found this month that 95 percent of income gains from 2009 to 2012 went to the top one percent of earners.

The sluggish economic growth the U.S. has experienced since the economic crash of 2008 has primarily favored top earners, or the very rich -- while incomes for the vast majority of people have remained bogged down.

The president did admit in an interview that the rich have fared far better than the poor during his time in the White House.

"The folks in the middle and at the bottom haven't seen wage or income growth, not just over the last three, four years, but over the last 15 years," the president said on ABC's "This Week with George Stephanopoulos."

The president's scheduled visit to the Ford plant is being interpreted that the White House plans to tout its accomplishments with the auto industry.

General Motors, Chrysler Group and Ally Financial, the finance firm then known as GMAC, received $79.7 billion in both 2008 and 2009. While some of that assistance came in the form of loans, most of it was given to the companies in return for their stock. Stock sales, dividend and loan payments together have returned only $52.7 billion to the government, leaving a $27 billion deficit.

Obama's handling of the auto bailout was controversial at the time and became a sensitive topic during his 2012 election. Then GOP nominee Mitt Romney argued that the White House should have allowed the auto companies to go into a structured bankruptcy.

Senior economic adviser to the president Gene Sperling maintains that while the economic decisions the Obama administration made in 2009 were controversial, such as the Troubled Asset Relief Program, the auto bailout and revamped banking regulations - all have done much better than expected.

"These very difficult, bold and politically controversial measures that the president took in 2009 have uniformly performed better than almost anyone could have projected," Sperling, the outgoing director of the National Economic Council, said on a call with reporters.

Click here to learn about our 'Saint Michael the Archangel' conference this Nov 1-3!


Pope Francis: end world hunger through 'Prayer and Action'

Copywriter 2015 - Distributed by THE NEWS CONSORTIUM

Pope Francis Prayer Intentions for October 2015
That human trafficking, the modern form of slavery, may be eradicated.
Evangelization: That with a missionary spirit the Christian communities of Asia may announce the Gospel to those who are still awaiting it.


More Politics & Policy

Gennifer Flowers expresses her fears from the Clinton Crime Family Watch

Image of

By David Drudge, The California Network (NEWS CONSORTIUM)

Gennifer Flowers is back in the spotlight and this time she is going after Hillary Clinton, referring to her claims that Clinton is campaigning on behalf of women "a joke." LOS ANGELES, CA (Catholic Online) - Gennifer Flowers spoke out against Hillary Clinton last ... continue reading

All pork products banned from federal prisons, by order of Obama Administration Watch

Image of The Bureau of Prisons maintains the food supply of 206,000 federal inmates, and runs 122 federal penitentiaries. Inmates are served three meals a day. Authorities say that the pork ban was based upon a survey conducted by inmates.


In a move that seems suspiciously Muslim in nature, the Obama administration has banned all pork products in federal prisons. The federal Bureau of Prisons, a subdivision of President Barack Obama's Justice Department, is following the edict. The administration ... continue reading

NOT EVEN CLOSE: Obama administration falls short of ending child hunger in the U.S. Watch

Image of A pledge, on the part of U.S. President Barack Obama to eradicate childhood hunger in the United States by 2015, has fallen noticeably short.


A pledge, on the part of U.S. President Barack Obama to eradicate childhood hunger in the United States by 2015, has fallen noticeably short. "Needless to say, the nation is not close to eliminating childhood hunger in this - the target - year," Food Research ... continue reading

Kevin McCarthy quits speaker race amid allegations of affair with Renee Ellmers Watch

Image of Majority Leader Kevin McCarthy (R-CA) pictured with Renee Ellmers (R-NC)


According to Washington insiders, Kevin McCarthy (R-CA) is having an affair with Renee Ellmers (R-NC). McCarthy dropped out of the Speaker race, and may have done so because an unknown insider is circulating a surveillance video on Capitol Hill, of him dining with ... continue reading

President Obama faces uphill battle with Pacific Rim trade pact Watch

Image of The Trans-Pacific Partnership is being battered on both sides of the right and the left in the U.S.

By Catholic Online (NEWS CONSORTIUM)

United States President Barack Obama has hailed the Trans-Pacific Partnership (TPP) the largest free-trade agreement in a generation, as its completions will open new markets for U.S. goods and services. While Obama says the agreement will give "our workers the fair ... continue reading

California Governor Jerry Brown signs 'End of Life Option Act' Watch

Image of

By Catholic Online (NEWS CONSORTIUM)

California Governor Jerry Brown has signed the "End of Life Option Act" into law this week. While he remained largely ambiguous about the bill, he came forward with the statement that the "Crux of the matter is whether the state of California should continue to ... continue reading

Trans-Pacific Partnership faces criticism in Congress Watch

Image of Citizen protests the Trans Pacific Partnership (AFP).


The controversial Trans-Pacific Partnership has been finalized and will be presented to business leaders by US President Barack Obama. However, Congress has already shown skepticism over the pact. LOS ANGELES, CA (Catholic Online) - Twelve countries in the Pacific Rim ... continue reading

#IAmaChristian: Ben Carson honors the Oregon shooting's fallen students Watch

Image of Ben Carson (Facebook).


Nine were shot dead during the recent horrifying shooting at the Umpqua Community College in Roseburg, Oregon where a student claimed the gunman specifically targeted the religious. Following the claim, Republican presidential candidate Ben Carson started a social ... continue reading

Supreme Court to render decisions on sensitive topics of abortion, birth control, race Watch

Image of An even more pressing issue to go before the court will be the issue of religious freedom coupled with President Obama's health care reform.

By Catholic Online (NEWS CONSORTIUM)

The Supreme Court is rolling up its sleeves to render decisions that have long roiled the United States: abortion, birth control, religious freedom, and race. None of the pending decisions is likely to have the same import as the recent decision regarding ... continue reading

False ambassador has been working in government affairs for five months Watch

Image of Brett McGurk (C-Span).


For five months, an Obama administration official falsely presented himself as an official U.S. ambassador.  LOS ANGELES, CA (Catholic Online) - Brett McGurk, who is a deputy special presidential envoy to the Global Coalition serving under General John Allen, was ... continue reading

All Politics & Policy News


Newsletter Sign Up icon

Stay up to date with the latest news, information, and special offers

Subscribe to Catholic OnlineYouTube Channel

Daily Readings

Reading 1, Romans 1:16-25
16 For I see no reason to be ashamed of the gospel; ... Read More

Psalm, Psalms 19:2-3, 4-5
2 day discourses of it to day, night to night hands ... Read More

Gospel, Luke 11:37-41
37 He had just finished speaking when a Pharisee ... Read More

Saint of the Day

Saint of the Day for October 13th, 2015 Image

St. Edward the Confessor
October 13: Edward the Confessor was the son of King Ethelred III and his ... Read More