Archive for the ‘Democrats’ Category
President Barack Obama will give his acceptance speech tonight in the Time Warner Cable Arena and not the Bank of America Stadium as originally planned. Although the last-minute change of venue is being blamed on the inclement weather, rumors suggest that the Obama campaign was unable to fill the 74,000-seater stadium and decided to move to a much smaller venue to avoid embarrassment.
President Barack Obama and presumptive Republican nominee Mitt Romney both commented on the latest jobs statistics published by the Department of Labor on Friday. The data shows that the U.S. economy created 163,000 jobs in July, well above economists’ expectations of 100,000 post creations last month.
President Obama told students in Las Vegas on Thursday that congressional lawmakers were to blame for the delay in extending for another 12 months the low interest rates charged on student loans. Legislators from both sides need to come up with a bipartisan agreement in order to maintain the current 3.4-percent rate being charged on subsidized Stafford loans.
Republican presidential candidate Mitt Romney recently released his education plan in a bid to attract the student vote. Entitled “A Chance for Every Child: Mitt Romney‘s Plan for Restoring the Promise of American Education,” the former Massachusetts governor’s 35-page blueprint highlights the importance of a good education system, the responsibility of ensuring that federal funds are well spent, the need to empower parents to send their children to better schools, and the introduction of a reward system for teachers who perform well.
Republican presidential candidate Mitt Romney has warned the Obama administration that it should not rush to pass additional legislation following J.P. Morgan Chase’s heavy losses announced earlier on this week. The former governor has already criticized some of the regulations introduced under the president’s watch.
House Republicans have proposed their own bill to extend the low-interest rate which currently applies to government-backed student loans. Unless Congress acts before July 1, when a 2007 authorization is due to elapse, those who hold a student loan will face a 100-percent increase in the interest rate they are charged.
As expected, the Republican-led Senate rejected President Barack Obama‘s “Buffett Rule” which would have significantly increased the tax rate of those earning in excess of $1 million dollar per year. The proposal was named after billionaire investor Warren Buffet, who stated last Summer that he would be happy to pay more taxes.
The Obama campaign announced on Friday that the president had raised $29.1 million for his re-election and for the Democratic National Committee (DNC). This means that Mr. Obama has so far raised in the region of $250 million towards his potential second term. In the last three months of 2011, the monthly amount of funds raised amounted to $23 million on average.
A few days following the withdrawal of U.S. troops from Iraq, sectarian violence erupted again in the country which had been home to tens of thousands of military personnel for the best part of nine years.