AP - The Obama administration launched a consolidated effort to spur new start-up businesses Monday, part of the White House's campaign to emphasize job creation while downplaying new economic spending initiatives that could face congressional opposition.
Finance Minister Jim Flaherty is asking opposition MPs for “low- to no-cost ideas to grow the economy” that he’ll consider for the 2014 federal budget as the Conservatives try to squeeze more economic growth out of tighter purse strings.
Flaherty has sent his annual pre-budget consultation letter to opposition members of Parliament, with the usual warning that he’ll reject proposals for costly new spending initiatives or new taxes — including increased business taxes or carbon levies.
The Obama Administration has announced its intention to delay the implementation of the employer mandate in Obamacare for one year. This policy would have fined large firms $2,000 for every full-time employee they didn't provide with health insurance. The idea was to save taxpayers money by reducing the number if workers who get federally subsidized health insurance outside their jobs. But the mandate was also likely to discourage companies from hiring low-skill workers.
Last night, I detailed the holes in the Obama administration's breathless prediction that congressional failure to quickly pass a law expressly applying the US countervailing duty law to "non-market economies" would cause subsidized Chinese (and to a lesser extent Vietnamese) imports to flood into the United States and drown myriad US companies and workers . In short, we saw that the vast majority of the immediate pain that the White House forecast would actually be neither immediate nor painful.
This week, the Democratic National Committee is launching "Project Ivy" a program designed to bring to local races the tech tools that helped Barack Obama win the White House. As part of this multimillion dollar push, they're looking to hire a few good techies.
Federal opposition leaders wasted no time responding to the Conservative budget Thursday.
It’s a “shell-game con job,” NDP leader Thomas Mulcair said just minutes after Finance Minister Jim Flaherty released the document to the public. “What we have here is an austerity budget…. You cannot austere your way out of a crisis,” he said.
Green party Leader Elizabeth May summed her opinion up succinctly: This is the “fudge-it budget,” she said.
A requirement that firms providing financial products offer a 'plain vanilla' option falls to opposition, indicating that the White House is willing to accept major revisions to get its plan passed.
Lawmakers began an intensive push to pass the most sweeping revision of financial regulations since the Great Depression, but the Obama administration's proposed overhaul might undergo an overhaul itself along the way.
When I was in DC about a month ago, speaking at the Atlantic Economy conference, the keynote speaker was Paul Volcker. Tall Paul could not refrain from starting his remarks by commenting on how prosperous the capital looked and made it clear he regarded it as unseemly. And indeed, at least to someone breezing in and out, the town is ostentatiously well turned out, with lots of new construction and upscale stores and restaurants. The cab driver pointed out a new commercial building which he said had been built on spec and was leasing up well.
Last week, I noted a piece by Steve Rattner who was horrified that individual investors, empowered by companies like Kickstarter, might one day be able to invest in startups without paying a fee to Goldman Sachs.
I noted that Mr. Rattner's concern for investors seemed to be coming rather late, given that "he was the primary architect of the extra-legal screwing of GM and Chrysler secured creditors in favor of the UAW and other Obama supporters."
Secretary Locke participated in the White House launch of
the “Startup America”
initiative today in Washington, D.C. with U.S. Department of Energy Secretary Steven Chu,
Small Business Administration Administrator Karen Mills, Director of the
National Economic Council Gene Sperling, Chairman of the Council of Economic
Advisors Austan Goolsbee, and a number of America’s top entrepreneurs and