Monday
Oct192009
White House Press Briefing With Robert Gibbs
By Meagan Wiseley, University of New Mexico-Talk Radio News Service
-Recovery Act
Robert Gibbs introduced Jared Bernstein and Melody Barnes to discuss the report released this morning on education-based jobs saved by the American Recovery and Reinvestment Act.
Bernstein, the Chief Economist and Economic Policy Advisor to Vice President Joe Biden, said that preliminary recipient data that is coming in to the Recovery Accountability and Transparency Board shows 250,000 education jobs saved or created. These jobs are a subset of the 1 million jobs saved or created thus far through the act, which leaves the Economic Council on track to accomplish the stated goal of saving or creating 3.5 million jobs by later next year.
Bernstein added that the data reflects direct jobs, or jobs that are directly created and funded through spending in the Recovery Act. The Council of Economic Advisers has estimated that the Act has saved about 1 million jobs so far, and this estimate includes direct and indirect jobs.
Bernstein said this is clearly the most transparent and accountable treatment of a government program that has ever been seen before.
Barnes, the Director of the Domestic Policy Council, said the Recovery Act has made schools able to avert massive layoffs and also created jobs for educators in the pre-kindergarten, K-12 and higher education fields.
Barnes pointed out that preventing layoffs averted class size expansion, which has been a concern in the educational context.
Additionally, Barnes said reforms have been put in place to increase standards and assessments, teacher effectiveness and student progress tracking. An extended school day and school year for struggling schools has also been implemented.
When asked how the revenues to keep the new jobs in place when the federal dollars from the Recovery Act money are gone, Barnes said the administrations was very cognizant of such a scenario when developing the Recovery Act and that it was created in the context of the economy improving. Thus, states would be able to support these jobs and increases once the economy strengthens.
-Afghanistan
On the possibility of a runoff election in Afghanistan, Gibbs said that, in his assessment, General McChrystal knew the election would be taken into account. Gibbs said a sizable American force in Afghanistan must be met with a credible partner, and that, without a credible partner, no one involved can make a difference. Gibbs said he is supportive of Deputy Chairman of NATO, Lt. Gen. Karl Eikenberry’s plan to work with Afghan President Hamid Karzai on this matter.
Gibbs refused to comment on hypothetical situations regarding a future election, but did say the administration is encouraging processes by the Afghan people to choose a candidate that is legitimate.
-Health Care Reform
On Heath Care reform, Gibbs said the administration is working to ensure choice and competition in the insurance market. He said the President has been clear on his preference for a public option to be in the final bill.
-Sudan
On Sudan, Gibbs said a comprehensive policy is needed to deal with the humanitarian crisis in Darfur. Gibbs said there is pressure being put on the Sudanese government, and if steps are taken to address components of this issue by the government, there will be incentives.
-Iran
On Iran, Gibbs said that Iran has an opportunity and a responsibility to demonstrate to the world their purpose for a nuclear program. He said the U.S. obligation is to get a sizable amount of low enriched uranium out of Iran in order to make the world more secure.
-Economy
On the financial sector, and Godlman Sachs/JP Morgan executive bonuses, Gibbs said the administration does not want to be in the business of executive compensation. He said last September that the American people went through great lengths to make sure the financial system didn’t collapse. He said the banks are equally as responsible to ensure that it doesn’t happen again.
-Recovery Act
Robert Gibbs introduced Jared Bernstein and Melody Barnes to discuss the report released this morning on education-based jobs saved by the American Recovery and Reinvestment Act.
Bernstein, the Chief Economist and Economic Policy Advisor to Vice President Joe Biden, said that preliminary recipient data that is coming in to the Recovery Accountability and Transparency Board shows 250,000 education jobs saved or created. These jobs are a subset of the 1 million jobs saved or created thus far through the act, which leaves the Economic Council on track to accomplish the stated goal of saving or creating 3.5 million jobs by later next year.
Bernstein added that the data reflects direct jobs, or jobs that are directly created and funded through spending in the Recovery Act. The Council of Economic Advisers has estimated that the Act has saved about 1 million jobs so far, and this estimate includes direct and indirect jobs.
Bernstein said this is clearly the most transparent and accountable treatment of a government program that has ever been seen before.
Barnes, the Director of the Domestic Policy Council, said the Recovery Act has made schools able to avert massive layoffs and also created jobs for educators in the pre-kindergarten, K-12 and higher education fields.
Barnes pointed out that preventing layoffs averted class size expansion, which has been a concern in the educational context.
Additionally, Barnes said reforms have been put in place to increase standards and assessments, teacher effectiveness and student progress tracking. An extended school day and school year for struggling schools has also been implemented.
When asked how the revenues to keep the new jobs in place when the federal dollars from the Recovery Act money are gone, Barnes said the administrations was very cognizant of such a scenario when developing the Recovery Act and that it was created in the context of the economy improving. Thus, states would be able to support these jobs and increases once the economy strengthens.
-Afghanistan
On the possibility of a runoff election in Afghanistan, Gibbs said that, in his assessment, General McChrystal knew the election would be taken into account. Gibbs said a sizable American force in Afghanistan must be met with a credible partner, and that, without a credible partner, no one involved can make a difference. Gibbs said he is supportive of Deputy Chairman of NATO, Lt. Gen. Karl Eikenberry’s plan to work with Afghan President Hamid Karzai on this matter.
Gibbs refused to comment on hypothetical situations regarding a future election, but did say the administration is encouraging processes by the Afghan people to choose a candidate that is legitimate.
-Health Care Reform
On Heath Care reform, Gibbs said the administration is working to ensure choice and competition in the insurance market. He said the President has been clear on his preference for a public option to be in the final bill.
-Sudan
On Sudan, Gibbs said a comprehensive policy is needed to deal with the humanitarian crisis in Darfur. Gibbs said there is pressure being put on the Sudanese government, and if steps are taken to address components of this issue by the government, there will be incentives.
-Iran
On Iran, Gibbs said that Iran has an opportunity and a responsibility to demonstrate to the world their purpose for a nuclear program. He said the U.S. obligation is to get a sizable amount of low enriched uranium out of Iran in order to make the world more secure.
-Economy
On the financial sector, and Godlman Sachs/JP Morgan executive bonuses, Gibbs said the administration does not want to be in the business of executive compensation. He said last September that the American people went through great lengths to make sure the financial system didn’t collapse. He said the banks are equally as responsible to ensure that it doesn’t happen again.
tagged 
Darfur, General McChrystal, Godlman Sachs, Iran, JP Morgan, Jared Bernstein, Lt. Gen. Karl Eikenberry, Meagan Wiseley, Melody Barnes, President Karzai, President Obama, Recovery Accountability and Transparency Board, Recovery Act, Sudan, The Council of Economic Advisers, health care reform, public option, robert gibbs in Frontpage 3, News/Commentary, White House
Darfur, General McChrystal, Godlman Sachs, Iran, JP Morgan, Jared Bernstein, Lt. Gen. Karl Eikenberry, Meagan Wiseley, Melody Barnes, President Karzai, President Obama, Recovery Accountability and Transparency Board, Recovery Act, Sudan, The Council of Economic Advisers, health care reform, public option, robert gibbs in Frontpage 3, News/Commentary, White House
Bonuses From Companies Bailed Out By TARP Could Be Taxed
Sen. Barbara Boxer (D-Calif.) and Sen. Jim Webb (D-Va.) introduced a bill that would tax bonuses distributed by financial institutions bailed out by the Troubled Assets Relief Program (TARP) during a press conference Thursday afternoon.
The bill would place a 50 percent tax on bonuses over $400,000. Some of the companies that would be hit include Bank of America, Citigroup, Goldman Sachs, Merrill Lynch, Morgan Stanley, JP Morgan and Wells Fargo.
The bill would require a tax on the bonuses even if the companies have already paid back the money initially received through TARP.
“If your going to get that kind of bonus, you can share it 50-50 with the people who helped bail you out. We believe that's fair, reasonable and its not any example of what people will call class warfare,” said Webb.
Both Senators hope for bipartisan support on the bill.