Continuing U.S. Economic Progress

https://twitter.com/WhiteHouse/status/738097415287250946.

Economic Situation:

United States of America Annual Gross Domestic Product

Year    U.S. GDP
2005  $13,093,700,000,000
2006  $13,855,900,000,000
2007  $14,477,600,000,000
2008  $14,718,600,000,000
2009  $14,418,700,000,000
2010  $14,964,400,000,000
2011  $15,517,900,000,000
2012  $16,163,200,000,000
2013  $16,768,100,000,000
2014  $17,555,000,000,000

Unemployment 2008- Sept 2014

President Obama Is Returning to Elkhart

MAY 24, 2016 AT 9:00 PM ET BY MELANIE GARUNAY

President Obama is returning to Elkhart, Indiana, the first city he visited as President, to highlight the economic progress we’ve made and the promise he kept.

Just three weeks into my presidency, I made a promise to the people of Elkhart, Indiana.

It was the first city I visited as President. Folks there had been hit harder by the recession than almost anywhere else in America. The unemployment rate was on its way to nearly twenty percent. Companies that had sustained that community for years were shedding jobs at an alarming speed — and hardworking families were losing their homes and health care along with those jobs.

When I spoke to the people of Elkhart in February of 2009, I promised them that if we worked together, we could pull that community and this country out of the depths of recession — that we could not only recover, but put ourselves on a better, stronger course.

Today, thanks to the hard work of people in Elkhart and in communities across the country, America has recovered from crisis and we’re on the cusp of resurgence.

That’s why I’m going back to Elkhart next Wednesday — to highlight the economic progress we’ve made and discuss the challenges that remain.

The story of Elkhart’s recovery is the story of America’s recovery.

Today, Elkhart’s manufacturing industry is back, and the town has regained nearly all of the jobs it lost during the downturn. The unemployment rate is lower than it was before the recession, and lower than the national average. In Indiana, more people have health insurance, and fewer homeowners are underwater.

This progress is thanks to the effort and determination of Americans like you. And it’s a result of the choices we made as a nation.

We still face some tough economic challenges, there’s no doubt about it. And all of us have to make some very important decisions about where we go from here.

That’s what I’m going to talk about when I return to Elkhart on Wednesday. I hope you’ll tune in.

Thank you,

President Barack Obama

..

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6/4/16 Weekly Address: Building on America’s Economic Recovery

VOTE SMART & VOTE DEMOCRAT 2016

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3:25 PM ET
President Obama delivers remarks on the economy
Concord Community High School, Elkhart, Indiana

4:55 PM ET
President Obama participates in a Economic Town Hall hosted by PBS
Concord Community High School, Learner Theater, Elkhart, Indiana

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18 thoughts on “Continuing U.S. Economic Progress

  1. WH

    Tuesday, May 31, 2016

    All Times Eastern

    President Obama receives the presidential daily briefing

    President Obama attends meetings at the White House

    7:00 AM
    8:00 AM
    9:00 AM
    10:00 AM
    11:00 AM
    11:15 AM
    President Obama receives Hurricane Preparedness Briefing
    FEMA Headquarters, Washington, D.C.

    12:00 PM
    1:00 PM
    White House Press Secretary Josh Earnest briefs the press

    2:00 PM
    3:00 PM
    4:00 PM
    President Obama welcomes the 2016 NCAA National Champion Villanova Wildcats to the White House
    East Room

    5:00 PM
    6:00 PM
    7:00 PM
    8:00 PM
    9:00 PM
    10:00 PM

  2. President Obama Is Returning to Elkhart

    MAY 24, 2016 AT 9:00 PM ET BY MELANIE GARUNAY

    Summary:
    President Obama is returning to Elkhart, Indiana, the first city he visited as President, to highlight the economic progress we’ve made and the promise he kept.
    Just three weeks into my presidency, I made a promise to the people of Elkhart, Indiana.

    It was the first city I visited as President. Folks there had been hit harder by the recession than almost anywhere else in America. The unemployment rate was on its way to nearly twenty percent. Companies that had sustained that community for years were shedding jobs at an alarming speed — and hardworking families were losing their homes and health care along with those jobs.

    When I spoke to the people of Elkhart in February of 2009, I promised them that if we worked together, we could pull that community and this country out of the depths of recession — that we could not only recover, but put ourselves on a better, stronger course.

    Today, thanks to the hard work of people in Elkhart and in communities across the country, America has recovered from crisis and we’re on the cusp of resurgence.

    That’s why I’m going back to Elkhart next Wednesday — to highlight the economic progress we’ve made and discuss the challenges that remain.

    The story of Elkhart’s recovery is the story of America’s recovery.

    For more: https://www.whitehouse.gov/blog/2016/05/24/email-president-obama-elkhart

    • Consumer Spending in U.S. Climbs by Most in Almost Seven Years

      May 31, 2016 Victoria Stilwell — bloomberg

      Consumer spending climbed in April by the most in almost seven years, a sign U.S. households are ready to help jump start growth after a first-quarter slowdown.

      Key Points
      * Consumer purchases climbed 1 percent in April (versus 0.7 percent forecast) after little change in March
      * Personal income climbed 0.4 percent for a second month
      * Fed’s preferred measure of inflation (tied to consumer spending) climbed 0.3 percent from month before, the biggest May 2015; 1.1 percent from year before

      Big Picture
      Households will need to do the heavy lifting if a growth rebound is to materialize this quarter as global demand and corporate investment remain sluggish. Continued increases in payrolls and a gradual pickup in wages should help give consumers the means and the willingness to spend.

      Economist Takeaways
      “You definitely want to see that pickup in April to fit into the story of a second-quarter rebound,” Sophia Kearney-Lederman, an economic analyst at FTN Financial in New York, said before the report. Supporting the increase, “we have seen strong payrolls and incomes coming up, we’ve seen vehicle sales rebound, and we saw housing had a pretty good month.”

      The Details
      * After adjusting for inflation, which generates the figures used to calculate gross domestic product, purchases climbed 0.6 percent in April, the most since February 2014, after being little changed the prior month
      * Purchases of durable goods jumped 2.2 percent
      * Price measure excluding food and fuel increased 0.2 percent in April from month before and 1.6 percent in 12 months ended April
      * Disposable income (money left over after taxes) increased 0.2 percent in April from prior month after adjusting for inflation; up 3.3 percent over past year

      For more: http://www.bloomberg.com/news/articles/2016-05-31/consumer-spending-in-u-s-rises-by-most-in-almost-seven-years

    • Manufacturing in U.S. Unexpectedly Expands at Faster Pace

      June 1, 2016 Sho Chandra — bloomberg

      Manufacturing unexpectedly expanded at a faster pace in May, helped by an increase in orders that signals U.S. factories are rebounding from an early-2016 slump.

      The Institute for Supply Management’s index climbed to 51.3 from 50.8 in April, figures from the Tempe, Arizona-based group showed Wednesday. The median forecast in a Bloomberg survey of 81 economists called for 50.3. Readings greater than 50 indicate growth.

      Factories are using a pickup in bookings from the U.S. and abroad to help trim stockpiles, laying the ground for bigger gains in production later in the year. The recent pickup in oil prices also will probably help stem the slump among energy producers that has contributed to weak business investment.

      For more: http://www.bloomberg.com/news/articles/2016-06-01/manufacturing-in-u-s-unexpectedly-grew-at-faster-pace-in-may

    • U.S. Worker Perceptions of Hiring Activity Best Since 2008

      6/1/16 by Jeffrey M. Jones – gallup

      * 44% say employer is hiring workers and expanding workforce
      * 11% say employer is letting workers go, reducing workforce
      * +33 Job Creation Index score highest to date, by one point

      PRINCETON, N.J. — U.S. workers’ reports of hiring activity at their place of employment are the most positive in Gallup’s eight-year trend. Forty-four percent of workers in May said their employer is hiring workers and expanding the size of its workforce, while 11% said their employer is letting workers go and cutting the number of jobs. The resulting +33 Job Creation Index score is the highest monthly average to date, by one point.

      For more: http://www.gallup.com/poll/192047/worker-perceptions-hiring-activity-best-2008.aspx?g_source=Economy&g_medium=lead&g_campaign=tiles

    • June 01, 2016

      Remarks by the President on the Economy

      Concord Community High School
      Elkhart, Indiana

      3:30 P.M. EDT

      THE PRESIDENT: Hello, everybody! (Applause.) Hello, hello! (Applause.) Can everybody please give Kelly a round of applause for the great introduction? (Applause.)

      It is good to be back in Elkhart. (Applause.) Great to be back at Concord High School. (Applause.) Go Minutemen! I brought a couple friends of with me — your Senator, Joe Donnelly, is here. (Applause.) Your Mayor, Tim Neese, is here. (Applause.) I wanted to congratulate everyone graduating tomorrow. (Applause.) I just met a couple of the valedictorians, who seem like outstanding young ladies. My older daughter, Malia, graduates next week. (Applause.) So if there are any parents here, I hope you can give me some pointers on how not to cry too much at the ceremony and embarrass her. (Laughter.)

      AUDIENCE MEMBER: Carry some tissues!

      THE PRESIDENT: That’s what I’m going to do! (Applause.) If you’ve got a chair, sit down. Relax. I’m going to — I’ve got some stuff to say here. (Applause.)

      So I’m not going to talk about the fact that my daughter leaving me is just breaking my heart. I’m not here to talk about that. I’m here to talk about the economy.

      I don’t know if you’ve noticed, but this is an election year. (Laughter.) And it’s a more colorful election season than most. It’s been a little unusual.

      AUDIENCE MEMBER: One more term!

      THE PRESIDENT: No, I can’t do that. (Laughter.) The Constitution prohibits it, but, more importantly, Michelle prohibits it. (Laughter.)

      Now, one of the reasons we’re told this has been an unusual election year is because people are anxious and uncertain about the economy. And our politics are a natural place to channel that frustration. So I wanted to come to the heartland, to the Midwest, back to close to my hometown to talk about that anxiety, that economic anxiety, and what I think it means. And what I’ve got to say really boils down to two points — although I’m going to take a long time making these two points. (Laughter.)

      Number one: America’s economy is not just better than it was eight years ago — it is the strongest, most durable economy in the world. That’s point number one. (Applause.)

      Point number two: We can make it even stronger, and expand opportunity for even more people. But to do that, we have to be honest about what our real challenges are, and we’ve got to make some smart decisions going forward.

      Now, Elkhart is a good place to have this conversation, because some of you remember this was the first city I visited as President. (Applause.) I had been in office just three weeks when I came here. We were just a few months into what turned out to be the worst economic crisis of our lifetimes. Our businesses were losing 800,000 jobs a month. Our auto industry was about to go under. Our families were losing their savings and their health insurance, and, as Kelly pointed out, they were in danger of losing their homes. And Elkhart was hit harder than most. Unemployment here would peak at 19.6 percent. That means nearly one in five people here were out of work. And I told you then that I was going to have your back, and we were going to work hard to bring this economy back. (Applause.)

      For more: https://www.whitehouse.gov/the-press-office/2016/06/01/remarks-president-economy

    • June 02, 2016

      Remarks by the President at PBS NewsHour Town Hall Discussion with Gwen Ifill for Elkhart, IN Residents

      Lerner Theater
      Elkhart, Indiana

      5:10 P.M. EDT

      MS. IFILL: Good evening. And welcome to Elkhart, Indiana, as we sit down with President Obama and the residents of this community to discuss their concerns, look back on his time in office, and assess the feverish campaign to succeed him.

      This marks the President’s fifth visit to the once, and again, RV Capital of the World — a small city where the unemployment rate hit 19.6 percent his first year in office, and now has dropped to about 4 percent. But this White House isn’t getting any credit for that turnaround. Residents here voted for Ted Cruz in this year’s primaries, and Mitt Romney by two to one in 2012. Even when President Obama won Indiana in 2008, just as the economy was crashing, Elkhart went with John McCain.

      But first, the President of the United States, Barack Obama. (Applause.)

      THE PRESIDENT: Thank you.

      MS. IFILL: Our residents have been waiting faithfully, patiently, and eagerly to see you today.

      THE PRESIDENT: Well, I’m eager to see them. And this is a beautiful theater —

      MS. IFILL: It is beautiful.

      THE PRESIDENT: — which got converted. And congratulations on a wonderful venue.

      MS. IFILL: Some of them voted for you; some of them didn’t. We will talk about that in a moment.

      THE PRESIDENT: Well, that’s what we would expect.

      MS. IFILL: I first want to ask by talking to you a little bit about this campaign. What do you think it means when you hear the words “Let’s make America great again”?

      THE PRESIDENT: I think America is pretty great. And it’s interesting, I do a lot of commencement speeches this time of year. In fact, tomorrow, I’m going to be going to the Air Force Academy to deliver a commencement for the second time there. And I always remind young people that despite all the challenges that we face right now, if you had the choice to be born in any one period of time in our history, and you didn’t know ahead of time whether you were going to be rich or poor, black or white, male or female, you just had to guess on what moment do you have a best chance of succeeding, it would actually be now — that America is the strongest country on Earth. Its economy is the most durable on Earth. We are a country that has incredible diversity. People are striving, working hard, creating businesses. We’ve got the best universities in the world, the best scientists.

      So we’ve got some challenges, and we’ve just come through a very rough stretch as a consequence of the financial crisis. But overall, not only are we recovered from the crisis that we had, but we’re well-positioned to do extraordinarily well going forward as long as we make some good decisions.

      For more: https://www.whitehouse.gov/the-press-office/2016/06/02/remarks-president-pbs-newshour-town-hall-discussion-gwen-ifill-elkhart

    • Weekly Address: Building on America’s Economic Recovery

      JUNE 4, 2016 AT 6:00 AM ET BY MELANIE GARUNAY

      Remarks of President Barack Obama as Delivered
      Weekly Address
      The White House

      June 4, 2016

      Elkhart, Indiana was the first town I visited as President. I’d been on the job for three weeks, and we were just a few months into the worst economic crisis of our lifetimes. Elkhart was hit harder than most. Unemployment there peaked at nearly twenty percent shortly after my visit. Nearly one in five people there were out of work.

      This week, I returned to Elkhart. Unemployment there has now fallen to around four percent. More families are back on sturdy ground; more are covered by health insurance; more of their kids are graduating from high school. And it’s no accident – it’s because people there worked hard, and sacrificed, and looked out for each other.

      But it’s also because we made a series of smart decisions early in my presidency. To rescue the auto industry. To help families refinance their homes. To invest in things like high-tech manufacturing, clean energy, and the infrastructure that creates good new jobs – not to mention the job training that helps folks earn new skills to fill those jobs.

      The results are clear. America’s businesses have created 14.5 million new jobs over 75 straight months. We’ve seen the first sustained manufacturing growth since the nineties. We’ve cut unemployment by more than half. Another 20 million Americans have health insurance. And we’ve cut our deficits by nearly 75 percent.

      We haven’t fixed everything. Wages, while growing again, need to grow faster. The gap between the rich and everyone else is still way too wide. Republicans in Congress have repeatedly blocked investments and initiatives that would have created jobs faster.

      For more: https://www.whitehouse.gov/the-press-office/2016/06/04/weekly-address-building-americas-economic-recovery

    • 108-year-old man meets President Obama in Elkhart

      ELKHART, Ind. — A lot has happened in the 108 years Lester Townsend has been on this planet.

      He grew up as the grandson of a slave.

      He lived through the Civil Rights Era and has seen race relations grow over the last century.

      And Wednesday, he got to meet the first African-American President of the United States.

      Lester Townsend, 108, had never met a sitting U.S. President before. He’s lived through a number of them, 19 to be exact, dating back to Theodore Roosevelt who was President from 1901-1909. Townsend, born in 1908, has surely done a lot in his life but meeting the first African-American President of the United States was something extra special given his family’s history.

      “It means a lot because my grandfather was a slave,” Townsend said. “Being the grandson of a slave and meeting the President of the United States, that’s thrilling to me.”

      Townsend was able to get into Wednesday’s speech at Concord High School thanks to a friendship he forged with current Democratic Nominee for the Indiana 2nd District, Lynn Coleman.

      For more: http://www.wndu.com/content/news/108-year-old-man-meets-President-Obama-in-Elkhart-381596911.html

  3. May 31, 2016

    Remarks by the President on Hurricane Preparedness — FEMA National Response Coordination Center

    FEMA National Response Coordination Center
    Washington, D.C.

    11:50 A.M. EDT

    THE PRESIDENT: My important responsibility as President of the United States is to keep our people safe. And that’s why I just met with key members of my Homeland Security team, including our FEMA Director, Craig Fugate, here at FEMA’s National Response Coordination Center. And Craig and his team gave us updates on preparations for the 2016 hurricane season, which starts tomorrow.

    All of us have seen the heartbreak, the damage and, in some case, the loss of life that hurricanes can cause. And as climate continues to change, hurricanes are only going to become more powerful and more devastating. Now, states play the primary role in preparing for and responding to disasters. But our team here works around the clock to make sure that those states and the people living in those states have everything that they need to get the job done.

    One of the things that we have learned over the course of the last seven and a half years is that government plays a vital role, but it is every citizen’s responsibility to be prepared for a disaster. And that means taking proactive steps, like having an evacuation plan, having a fully stocked disaster supply kit. If your local authorities ask you to evacuate, you have to do it. Don’t wait.

    For more: https://www.whitehouse.gov/the-press-office/2016/05/31/remarks-president-hurricane-preparedness-fema-national-response

    • Three Actions to Take Now to Prepare for Hurricane Season

      MAY 31, 2016 AT 11:28 AM ET BY CRAIG FUGATE

      Summary: The 2016 National Preparedness Report is an important guidepost in our work to build a stronger, more resilient America.

      Today we released the 2016 National Preparedness Report, an important guidepost in our work to build a stronger, more resilient America. The findings of this year’s report are significant. This vital information is analyzed to gauge the progress that community partners—including all levels of government, private and nonprofit sectors, faith-based organizations, communities, and individuals—are making to prepare for a wide array of threats and hazards. We should be prepared for all hazards, from hurricanes and tornadoes to earthquakes and terrorist attacks.

      The good news is that this year’s report shows an increase in community resilience over the past three years. This matters because we know that the more resilient communities are before a disaster hits, the faster and stronger they’ll bounce back if disaster strikes. The bad news is that this year’s report also shows that the percentage of Americans who have developed and discussed a household emergency plan with their families has fallen for two years in a row. We must avoid becoming complacent in taking deliberate steps to be prepared for the unexpected.

      For more: https://www.whitehouse.gov/blog/2016/05/31/three-actions-take-now-prepare-hurricane-season-0

  4. May 31, 2016

    Remarks by the President Honoring the 2016 NCAA Champion Villanova Wildcats

    East Room

    4:23 P.M. EDT

    THE PRESIDENT: Hello, everybody! Hello. (Applause.) Everybody please have a seat. Welcome to the White House. And I guess it is the blue and white house today because we’re giving it up for the 2016 NCAA Champion Villanova Wildcats! (Applause.)

    Now, you should know that we have some big ‘Nova fans here, from both sides of the aisle in Congress. We also want to acknowledge Villanova President, Reverend Peter Donohue, who is here. (Applause.) Athletic Director Mark Jackson, who capped off his first year as athletic director with a national championship –- pretty good job. Pretty good. (Applause.)

    Unfortunately, perhaps the most important ‘Nova grad here, Dr. Jill Biden, could not be here. I think she may be teaching, but her husband Joe wanted me to remind you that he picked ‘Nova to win it all. (Laughter and applause.) This is the type of wise counsel that you are looking for from a Vice President. (Laughter.) Unfortunately, I didn’t follow his counsel and so my bracket was busted. (Laughter.)

    We have the best-dressed man in college basketball — (applause) — the George Clooney of coaches — (laughter) — Jay Wright. And today, we celebrate a remarkable team that worked tirelessly to make Coach look good in terms of his job and not just his wardrobe. (Laughter.) His tailor and stylist could not make it, but we do have his basketball players here. (Laughter.)

    So Coach Wright and this team treated us to as memorable a run and as memorable a championship game as I can remember. We’ll talk more about that game in a second, but these Wildcats were about more than just one moment or one shot. They had unbelievable defense. They had great clutch-shooting. A senior class that won more games than any group in Wildcats history. They had a stable of talented players who were as happy hitting the deck for a loose ball as they were cutting down the nets.

    For more: https://www.whitehouse.gov/the-press-office/2016/05/31/remarks-president-honoring-2016-ncaa-champion-villanova-wildcats

  5. WH

    Wednesday, June 1, 2016

    All Times Eastern

    President Obama receives the presidential daily briefing

    President Obama attends meetings at the White House

    7:00 AM
    8:00 AM
    9:00 AM
    10:00 AM
    11:00 AM
    First Lady Michelle Obama celebrates the 2016 National Medal for Museum and Library Service
    The White House

    12:00 PM
    12:30 PM
    President Obama departs the White House en route to Joint Base Andrews
    South Lawn

    12:45 PM
    President Obama departs Joint Base Andrews en route to Elkhart, Indiana

    1:00 PM
    2:00 PM
    2:20 PM
    President Obama arrives South Bend International Airport
    Elkhart, Indiana

    3:00 PM
    3:25 PM
    President Obama delivers remarks on the economy
    Concord Community High School, Elkhart, Indiana

    4:00 PM
    4:55 PM
    President Obama participates in a Economic Town Hall hosted by PBS
    Concord Community High School, Learner Theater, Elkhart, Indiana

    5:00 PM
    6:00 PM
    7:00 PM
    President Obama departs Elkhart, Indiana
    South Bend International Airport

    7:20
    President Obama arrives Colorado Springs, Colorado
    Peterson Air Force Base

    8:00 PM
    9:00 PM
    10:00 PM

    President Obama overnights in Colorado Springs, Colorado

  6. June 01, 2016

    Remarks by The First Lady at National Medal for Museum and Library Service Awards

    East Room

    11:11 A.M. EDT

    MRS. OBAMA: Thank you all. (Applause.) Thanks so much. You all, rest yourselves. Thank you. Welcome! Welcome to the White House as we award the 2016 National Medals for Museum and Library Service.

    I want to start by thanking Kathryn for that wonderful introduction and for her extraordinary leadership, as well as everyone from the Institute of Museum and Library Services. I know she gave out all the accolades before I came out, but I want to join in and thank everyone for their hard work, their continuous hard work, their dedication and their passion for this issue.

    And of course, I want to recognize our 10 incredible awardees and community members who have come here today from all across the country. You all are doing such inspiring, innovative and impactful work, and we are incredibly proud of everything you all have been doing. So enjoy this moment — and don’t be nervous. (Laughter.) I know it’s hard to be in this room and hear that, but — they’re all like, yeah, yeah. (Laughter.) You can do it. You’re going to make it up these stairs just fine. (Laughter.)

    And I have to tell you, as someone who lives in a museum and whose husband will soon be opening a library himself, as you all have heard, I’ve been thinking a lot about what you all do. And I’ve celebrated this event with you a number of times over the years, and altogether, since 2009, IMLS has recognized 80 museums and libraries in 32 states. And as we honor your accomplishments today during my family’s last year in the White House, when we’re just beginning to reflect back on our time here, I am struck by how important your work has been for so many of our efforts these past seven and a half years.

    For more: https://www.whitehouse.gov/the-press-office/2016/06/01/remarks-first-lady-national-medal-museum-and-library-service-awards

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