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What the president will announce: “The Treasury Department on Thursday said it reached a deal to sell its stake in Chrysler to Fiat for $500 million. The move would end the government’s involvement in Chrysler but still leave taxpayers about $1.3 billion short of recovering their full investment in the carmaker.”
"Having come to the rescue of the American auto industry, President Obama is looking to collect a political advantage from a big risk that paid off," the Boston Globe adds.
In an opinion piece in the Washington Post, Chicago Mayor Rahm Emanuel writes about President Obama’s commitment to the Middle East.
"President Barack Obama will visit Puerto Rico this month, the first official visit by a president since John F. Kennedy went to the island almost a half-century ago. An administration official confirmed to Roll Call that Obama will visit on June 14 'to commemorate the 50th anniversary of President Kennedy’s visit to the island.'"
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Nice that the auto industry is on the rebound and thousands and thousands of jobs saved. Unfortunately, only 54,000 jobs were created last month and unemployment is creeping back up. It's 9.1%. Housing prices at their lowest since 2002 and manufacturing down. Foreclosures on the rise. Perhaps the President should double down on his efforts to restart the economy rather than crowing about this achievment. He'll have plenty of time to do it next year when he runs for re-election.
Good points! But he is in campaign mode now and he wants to save his job. But of course he is not doing his job and to him that dose not matter! 9.1% is not very much when it comes to votes, little dose he know!!! 2012 will be a good year to hire someone new!!
Groucho, we're constantly reminded of all the bad news - why not reflect on the positive as well? And to look at this more accurately, private employers added 83,000 jobs - government spending cuts led to 28,000 jobs lost if the public sector for the net you mentioned. Those spending cuts really worked well, didn't they? (not)
Ursula-279622..
The problem is that government spending cuts are going to generate more job losses in both the public and private sectors and we are not creating enough jobs to offset the loses. As the budget gets trimmed by trillions, job losses will increase dramatically.
"As the budget gets trimmed by trillions, job losses will increase dramatically."
But isn't that the idea? At least, until they can run President Obama off?? Over on FR, it looks like some cretins are actually happy unemployment is up a tick again....
Maybe Obama should stay in Washington and work on getting more jobs and working to improve the economy instead of running around the country patting himself on the back for losing 14 or so billion dollars with his bail out of GM and Chrysler. Private companies are not hiring in the numbers needed, state, local and federal governments are laying people off due to over spending when times were good.
He stole a car company!! The unions made 3 billon+
& hes a hero????
Ron Paul!!! 2012...Don't Fear Freedom!!!!
Please check this cat out!!!! Dr. Paul!!!
I Want my country back!!!!! Damm it!!!