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Jul 26, 2013

Opposition mounts to Summers as possible Fed chief

WASHINGTON (Reuters) – President Barack Obama could be months away from announcing his pick to replace Ben Bernanke at the Federal Reserve, yet critics are already making an unusual public effort to stop one contender in the race – former U.S. Treasury Secretary Lawrence Summers.

The outcry has come not from Republicans, but the left wing of the Democratic Party. Summers advised Obama, was treasury secretary under former President Bill Clinton, led Harvard University and was chief economist for the World Bank. He helped tame the Asian financial crisis that threatened to sweep the globe under Clinton.

Jul 25, 2013

Obama warns House Republicans against ‘deadbeat’ budget tactics

JACKSONVILLE, Florida (Reuters) – With a busy commercial port in Florida as his backdrop, President Barack Obama warned Republican lawmakers on Thursday that threatening a government shutdown or debt default jeopardizes the fragile U.S. economic recovery.

The Democratic president pushed for new spending on infrastructure and education to create more jobs in the third of a series of speeches gearing up for the next fiscal fight with Republicans in the House of Representatives.

Jul 25, 2013

Obama to warn Republicans on budget tactics

WASHINGTON (Reuters) – President Barack Obama will use the backdrop of a busy commercial port in Florida to warn congressional Republicans on Thursday that using the threat of government shutdown or debt default puts a fragile economic recovery in jeopardy.

In the second of a series of speeches on the economy, Obama is due to accuse Republicans for standing in the way of faster growth with their fiscal proposals, aides said.

Jul 23, 2013

Obama aims to change topic, seize initiative in fiscal fights

WASHINGTON, July 22 (Reuters) – President Barack Obama told
supporters on Monday that he plans to focus his agenda clearly
on the economic challenges of the middle class, a theme he will
lay out in a speech on Wednesday and follow up with detailed
proposals in the coming months.

“There is no more important question for this country than
how do we create an economy in which everybody who works hard
feels like they can get ahead?” Obama told a small group of
donors to Organizing for Action, an advocacy group led by some
of his former advisers.

Jul 22, 2013

Obama aims to seize initiative in fiscal battles, aides say

WASHINGTON (Reuters) – President Barack Obama’s well-advertised plans to address economic topics this week are part of an effort to break through the “fevered focus on controversies” and “fake scandals” generated by Republicans, White House spokesman Jay Carney said Monday.

While Carney noted that Obama’s speeches around the nation this week come as Congress and the White House prepare for fiscal showdowns in the fall, he said the president would focus on the longer-term view of “this country’s future economically” rather than on the potential clashes ahead.

Jul 18, 2013

U.S. senators reach deal to move student loans to market rates

WASHINGTON, July 18 (Reuters) – A coalition of U.S. Senate
Democrats and Republicans have reached a tentative deal with
President Barack Obama that would roll back a recent spike in
interest rates on new federal loans for college students and
instead move the loans to a market-based rate.

Lawmakers are trying to secure a retroactive fix before the
next educational year starts, after interest rates on millions
of new federal student loans automatically doubled to 6.8
percent on July 1.

Jul 18, 2013

Obama steps in to push health plan as critical date draws near

WASHINGTON (Reuters) – Amid delays and a barrage of political criticism of his signature healthcare law, President Barack Obama will play pitchman for the plan on Thursday as a critical enrollment date draws near.

Obama is due give a speech at the White House highlighting how the plan has already benefited the public by lowering insurance costs and will do so in the future, senior administration officials said. He will be accompanied at the event by people who have seen their health insurances costs drop, the officials said.

Jul 15, 2013

Obama walks tightrope in reacting to Zimmerman verdict

WASHINGTON (Reuters) – The acquittal of George Zimmerman in the shooting death of unarmed black teenager Trayvon Martin left President Barack Obama trying to dial down tensions on Sunday while reassuring supporters he still stands against discrimination and gun violence.

Obama called for calm as activists outraged by the verdict planned rallies and urged the administration to pursue civil rights charges against Zimmerman. On the other side, Republicans said he inflamed tensions by wading into the issue in 2012, when he said, “If I had a son, he’d look like Trayvon.”

Jul 2, 2013

U.S. urges Mursi to listen to Egyptian people

DAR ES SALAAM (Reuters) – The United States put pressure on embattled Egyptian President Mohamed Mursi on Tuesday to listen to concerns of huge anti-government protests, as Egypt’s army planned to push the Islamist leader aside if he fails to strike a power-sharing deal with his opponents within 24 hours.

In a phone call at the end of an African tour, President Barack Obama told Mursi that the political crisis can only be resolved by talks with his opponents.

Jul 2, 2013

Obama, Bush brought together in Africa at embassy bomb memorial

DAR ES SALAAM (Reuters) – President Barack Obama and his predecessor George W. Bush stood side-by-side in Tanzania on Tuesday to commemorate the victims of the al Qaeda bombing of the U.S. Embassy 15 years ago – an attack that foreshadowed the United States’ present military build-up in Africa.

The two men bowed their heads in silence at a memorial stone in the new embassy compound in Dar es Salaam to the 10 Tanzanians killed and 85 Americans and Tanzanians wounded in the bombing on August 7, 1998.

    • About Mark

      "Mark Felsenthal is a Reuters White House correspondent who covered Barack Obama's re-election in 2012 and the fiscal crisis that immediately followed. Since joining Reuters in 2001, he has written about monetary policy, currency wars, and the housing market meltdown."
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