Folks, In Less than 4 years, we witnessed what President Obama Achieved in Facts not Fiction: From Economic collapse when President Obama took office, we now have an America Built to Last. There is hope for America to excel in the Global region and gain respect in the Global region of the world. Those who failed America cannot pretend to have a better plan; when we all know they are hungry for wealth creation without caring or considering America has just turned around from getting out of the mess they created. President Obama is working to build a country and an economy where we reward hard work, value fairness, and where everyone is held accountable for what they do. He is meeting the challenges we face as a nation with a bold, comprehensive plan. And he is reimagining government to be more open, transparent, and accountable. Reform & Fiscal Responsibility President Obama believes this is a make or break moment for the middle class and those trying to reach it, and he has laid out a blueprint for an economy that's built to last - an economy built on American manufacturing, American energy, skills for American workers, and a renewal of American values which is expected to strengthen the backbone of America's sustainability with stability for durability. President Obama has led the way putting in place fixtures on structuring the government to live within its means through a balanced approach that protects key priorities and ensures that everyone pays their fair share to make Government operational and efficient in service delivery. Security for the Middle Class The President overcame furious lobbying by big banks to pass the most far reaching reform of Wall Street in history, which will prevent the excessive risk-taking that led to the financial crisis while providing common-sense protections to American families for their mortgages and credit cards. The law created the Consumer Financial Protection Bureau to prevent mortgage companies and pay-day lenders from exploiting consumers. Economy There is no economy that can thrive when the rich want more and more for themselves without providing a balance or caring for the rest of the population security, nature or environment. This is a make or break moment for the middle class, and President Obama is working to build an economy that works for everyone and which in Partnership, provides fair common value shared equally by all -- where hard work and responsibility are rewarded without discrimination locally and globally. It is evident why we trust President Obama endeavours for the middle and the poor and can be trusted that; he will not rest until every American who wants work can find a job. Yes, he can be trusted because he understands predicament of an ordinary person. That's why he is fighting and working to grow our economy, so middle class families feel confident in their plan for futures and their children's futures and that the world will remain a better place for all; living at peach with each other. People, It would not have been possible if President Obama was not passionately committed to lift up America on top of the world and being concerned to American values. He was passionate why, even with extreme opposition and obstruction poised for him to fail, from those extremists who think they are more Americans than everyone else; that President Obama does not qualify or belong to America; and from those who constantly pleasure in painting him negatively because he does not look like them; with these kind of clear achievements where even at the peak of campaign rallies, Obama's challengers have not demonstrated substance statements of facts on issue based concerns but are galvanized by hate are busy playing President Obama dirty. Mitt Romney and Ryan with team aim to help the business tycoons at the top to avoid paying taxes but instead burden the general public and the middle-class to bear their burden of accrued debts without providing a balance in fair share. Their philosophy are for the rich. In which case the rich according to their plan intends to screw-up the middle-class and the poor into extreme difficulties. With their kind of approach, their budget cannot balance favorably to benefit the middle-class or poor. It was the reason America was in economic collapse in serious crisis before President Obama took office. There target to repeal what they call ObamaCare which is the Medicare now helping many poor and the old seniors in prescription drugs is baseless. If they are bend to fight the middle-class healthcare law they will be denying people fair share in healthcare reform. Fighting for a Government shut-down is a bad idea aimed to impact faction-ability from delivering services to people sand talling on fundamental public service delivery entitlements. Government is a machinery that provides balances between the rich, the middle-class and the poor. Without a Government people will live in a jungle rule........ Mitt Romney does not seem to have a plan to take on rulership; it is the reason they have no message for those who attend their rallies. Instead of Mitt Romney focus on economy and engaging on issues he is targeting President Obama birther in a bragging show off style. This was childish and shameful. It is sad that, this approach was made intentional as the subject of Mitt Romeny's recent rally which overshadowed his message and was without policy to participants of the rally. If anything, this is what is called dividing Americans against each other. Pittying the rich against the poor. The birther reference at Michigan was baseless and completely irrelevant and was out of order as to the reason why he is running for presidency to challenge President Obama. Cheers everybody....... SHOW-CASE Watch & take stock of these achievements: Jobs & The Economy: Putting America Back to Work Health Care President Obama is reforming health care to ensure a more secure future for American families. President Obama Continues the Push for Middle Class Tax Cuts he said. "When families have the security of knowing that their taxes won't go up they're more likely to spend, and more likely to grow the economy. When small business owners have certainty on taxes and can plan ahead they're more likely to hire and create new jobs. And that benefits all of us." Getting Women the Care They Need is crucial Under the Affordable Care Act, for the first time ever, women will now have access to life-saving preventive care, such as mammograms and contraception, without paying any more out of their own pockets. Today, we move yet another step closer to giving women control over their health care. In addition to the benefits for women already included in the Affordable Care Act, beginning the first plan year after August 1, 2012, most private health insurance plans will cover additional women's preventive services without requiring women to pay an extra penny out of their pockets. These services include: •Well-woman visits •Screening for gestational diabetes, which help protect the mother and her child from one of the most serious pregnancy-related diseases •Breastfeeding support, supplies and counseling •Screening and counseling for interpersonal and domestic violence •Contraception and contraceptive counseling •HPV DNA testing •STI counseling •HIV screening and counseling These services are based on recommendations from the Institute of Medicine, which relied on advice from independent physicians, nurses, scientists, and other experts, as well as evidence-based research, to develop its recommendations. And insurance companies know these services help prevent disease and illness, which can save them money in the long run. By eliminating barriers like copays, co-insurance, and deductibles, secure, affordable coverage is quickly becoming a reality for millions of American women and families. President Obama recalled his mother telling him, "You can tell how far a society is going to go by how it treats its women and girls. And if they're doing well, then the society is going to do well; and if they're not, then they won't be." With that principle in mind, these new guidelines for women's preventive health are a crucial step forward for the health of women, and for our society as a whole. Learn more Education
President Obama believes that every child deserves access to the type of education they need to prepare for the challenges of a new century. "A world-class education is the single most important factor in determining not just whether our kids can compete for the best jobs but whether America can out-compete countries around the world. America's business leaders understand that when it comes to education, we need to up our game. That's why we're working together to put an outstanding education within reach for every child" -President Barack Obama, July 18, 2011 Guiding Principles Providing a high-quality education for all children is critical to America's economic future. Our nation's economic competitiveness and the path to the American Dream depend on providing every child with an education that will enable them to succeed in a global economy that is predicated on knowledge and innovation. President Obama is committed to providing every child access to a complete and competitive education, from cradle through career. Progress - On May 29, 2012 the Obama Administration announced that eight more states have agreed to implement bold reforms around standards and accountability, and will receive flexibility from the most burdensome mandates of No Child Left Behind, bringing to 18 the total number of states who have been granted waivers. In exchange for this flexibility, these states have agreed to raise standards, improve accountability, and undertake essential reforms to improve teacher effectiveness.
- On December 16, 2011 the Obama Administration announced that nine states -- California, Delaware, Maryland, Massachusetts, Minnesota, North Carolina, Ohio, Rhode Island and Washington -- would receive grant awards from the $500 million Race to the Top-Early Learning Challenge fund. The grants will support states in creating systems of high-quality early learning and development programs, developing new approaches to raising the bar across early learning centers, and closing the school readiness gap.
- On October 25, 2011, the Obama Administration announced a proposal to make managing student loan debt easier. "Pay As You Earn" will allow about 1.6 million borrowers the ability to cap their monthly payments at 10 percent of their discretionary income starting in 2012. The plan will also forgive the balance of borrowers' debt after 20 years of payments.
- On September 23, 2011, President Obama announced that his administration would provide relief from the No Child Left Behind Act. The flexibility will help states move forward with education reforms that are based on rigorous college- and career-ready standards, state-developed accountability systems that reward progress and address achievement gaps, and meaningful educator evaluation systems that support increase student achievement.
- On August 8, 2011 President Obama directed Secretary Duncan to move forward with plans to provide flexibility to states who are looking for greater relief under the No Child Left Behind law. In September, 2011 President Obama announced the final package providing states the flexibility to make sure that every single child is getting an excellent education, making sure that they are ready for college and career, and that they are going to be competitive in a global economy.
- On July 18, 2011, President Barack Obama announced four major commitments to education that take advantage of leading industry leaders' areas of expertise and the skills of their employees. President Obama's "Educate to Innovate" campaign is designed to improve the participation and performance of America's students in science, technology, engineering, and mathematics (STEM) and includes efforts from the federal government and from leading companies, foundations, non-profits, and science and engineering societies to work with young people across America to excel in science and math."
- On May 25, 2011 the Obama Administration announced a $500 million state level grant competition, the Race to the Top-Early Learning Challenge. States applying for grants will be encouraged to increase access to quality learning programs for vulnerable children across America. The Department of Education and the Department of Health and Human Services will jointly administer the program.
- On May 16, President Obama gave the commencement address to the Booker T. Washington Class of 2011, and stressed the importance of education in a highly competitive world. The Memphis, TN high school was the winner of the second annual Race to the Top High School Commencement Challenge, which is designed to reward schools that best demonstrate how they are preparing students for college and a career.
- The President reiterated his commitment to improving American education and said his administration is focused on achieving reform, promoting responsibility and delivering results in a speech in Miami on March 4, 2011.
- President Obama signed an overhaul of the student loan program into law, doubling funding for Pell Grants and allowing for direct student loans.
- The Act includes $5 billion for early learning programs, including Head Start, Early Head Start, child care, and programs for children with special needs.
- The Act also provides $77 billion for reforms to strengthen elementary and secondary education, including $48.6 billion to stabilize state education budgets (of which $8.8 billion may be used for other government services) and to encourage states to:
- Make improvements in teacher effectiveness and ensure that all schools have highly-qualified teachers;
- Make progress toward college and career-ready standards and rigorous assessments that will improve both teaching and learning;
- Improve achievement in low-performing schools, through intensive support and effective interventions; and
- Gather information to improve student learning, teacher performance, and college and career readiness through enhanced data systems.
- The Act provides $5 billion in competitive funds to spur innovation and chart ambitious reform to close the achievement gap.
- The Act includes over $30 billion to address college affordability and improve access to higher education.
Focus on Early Childhood Education The years before a child reaches kindergarten are among the most critical in his or her life to influence learning. President Obama is committed to providing the support that our youngest children need to prepare to succeed later in school. The President supports a seamless and comprehensive set of services and support for children, from birth through age 5. Because the President is committed to helping all children succeed – regardless of where they spend their day – he will urge states to impose high standards across all publicly funded early learning settings, develop new programs to improve opportunities and outcomes, engage parents in their child's early learning and development, and improve the early education workforce. Reform and Invest in K-12 Education The President will reform America's public schools to deliver a 21st Century education that will prepare all children for success in the new global workplace. President Obama's Commencement Challenge, Race to the Top, fosters critical thinking, problem solving, and the innovative use of knowledge to prepare students for college and career, helping America win the future by out-educating our competitors and achieving his goal of having the highest proportion of college graduates in the world by 2020. President Obama will push to end the use of ineffective, "off-the-shelf" tests, and support new, state-of-the-art assessment and accountability systems that provide timely and useful information about the learning and progress of individual students. Teachers are the single most important resource to a child's learning. President Obama will ensure that teachers are supported as professionals in the classroom, while also holding them more accountable. He will invest in innovative strategies to help teachers to improve student outcomes, and use rewards and incentives to keep talented teachers in the schools that need them the most. President Obama will invest in a national effort to prepare and reward outstanding teachers, while recruiting the best and brightest to the field of teaching. And he will challenge State and school districts to remove ineffective teachers from the classroom. The President believes that investment in education must be accompanied by reform and innovation. The President supports the expansion of high-quality charter schools. He has challenged States to lift limits that stifle growth among successful charter schools and has encouraged rigorous accountability for all charter schools. Restore America's Leadership in Higher Education President Obama is committed to ensuring that America will regain its lost ground and have the highest proportion of students graduating from college in the world by 2020. The President believes that regardless of educational path after high school, all Americans should be prepared to enroll in at least one year of higher education or job training to better prepare our workforce for a 21st century economy. To accomplish these overarching goals, the President is committed to increasing higher education access and success by restructuring and dramatically expanding college financial aid, while making federal programs simpler, more reliable, and more efficient for students. The President has proposed a plan to address college completion and strengthen the higher education pipeline to ensure that more students succeed and complete their degree. His plan will also invest in community colleges to equip a greater share of young people and adults with high-demand skills and education for emerging industries. Energy and the Environment President Obama has taken unprecedented action to build the foundation for a clean energy economy, tackling the issue of climate change, and protecting our environment. Protecting Our Oceans President Obama has established the first comprehensive National Policy for the Stewardship of the Ocean, our Coasts, and the Great Lakes. America's oceans and coastal regions support tens of millions of jobs and contribute trillions of dollars a year to the national economy. The National Ocean Policy helps us prioritize our efforts and resources to address the most critical issues facing our oceans and establishes a comprehensive, collaborative, regionally based planning process to ensure healthy ocean and coastal resources for the many communities and economies that rely on and enjoy them. Supporting Land Conservation When he signed the Omnibus Public Land Management Act of 2009, President Obama marked the most extensive expansion of land and water conservation in more than a generation, designating more than 2 million acres of federal wilderness, thousands of miles of trails, and protecting more than 1,000 miles of rivers. The President also used his authority under the Antiquities Act to designate Fort Monroe in Hampton, Virginia, as a national monument, protecting a site of historic significance for slavery, the Civil War, and the U.S. military. President Obama established the America's Great Outdoors Initiative to work with the American people to develop a community-based conservation and recreation agenda for the 21st century. Through this initiative, the Administration is opening up access to millions of acres for recreation, making historic investments in restoring critical landscapes, and supporting an outdoor economy that includes approximately 9 million jobs and $1 trillion in economic activity. Prioritizing Clean Water The Administration is taking comprehensive action to ensure the integrity of the waters Americans rely on every day for drinking, swimming, and fishing, and that support farming, recreation, tourism and economic growth. We have issued draft Federal guidance to clarify which waters are protected by the Clean Water Act nationwide; launched innovative partnerships and programs to improve water quality and water efficiency; and created initiatives to revitalize communities and economies by restoring rivers and critical watersheds. The Administration has also proposed to modernize the guidelines that govern Federal water resource planning, calling for water resources projects based on sound science, improved transparency, and consideration of the variety of community benefits of projects. Reducing the Environmental Impacts of Mountaintop Coal Mining Through a Memorandum of Understanding signed by EPA, the Department of the Interior and the Army Corps of Engineers on June 11, 2009, Federal agencies are taking action to minimize adverse environmental and health impacts of mountaintop coal mining. Reducing Air Pollution A. Curbing Vehicle Pollution The Obama Administration is aggressively working to reduce pollution in the air we breathe. We have proposed historic fuel economy standards that will double the fuel efficiency of cars and light trucks by 2025, saving consumers $1.7 trillion at the pump and eliminating 6 billion metric tons of carbon pollution. The Administration has also finalized the first-ever national fuel economy and greenhouse gas emission standards for commercial trucks, vans, and buses built in 2014-2018, which are projected to save more than 500 million barrels of oil and an estimated $50 billion in fuel costs. B. Cleaning up Toxic Air Pollution The Administration established the first-ever national limits for mercury and other toxic air pollution from power plants, which will prevent up to 11,000 premature deaths, 4,700 heart attacks, and 130,000 cases of childhood asthma symptoms each year. This rule follows a series of EPA actions to reduce emissions from power plants and other large emitters, including a rule to cut soot and smog-forming pollution from power plants that create health problems downwind, and rules to limit mercury and other pollution for the largest sources of industrial air pollution, such as cement plants, industrial boilers, and waste incinerators. Supporting Sustainable Communities The Administration created the historic Partnership for Sustainable Communities to break down traditional silos among the Federal agencies for housing, transportation, and environmental protection. Through 2011, this partnership announced more than $1.7 billion in funding to support resilient economies, healthy environments and quality of life in more than 550 communities and regions across the country. Foreign Policy President Obama is turning the page on a decade of war and restoring American leadership abroad. Guiding Principles President Obama has pursued national security policies that keep the American people safe, while turning the page on a decade of war and restoring American leadership abroad. Since President Obama took office, the United States has devastated al Qaeda's leadership. Now, thanks to our extraordinary servicemen and women, we have reached a pivotal moment – as we definitively end the war in Iraq and begin to wind down the war in Afghanistan. Meanwhile, we have refocused on a broader set of priorities around the globe that will allow the United States to be safe, strong, and prosperous in the 21st century. To advance America's national security, the President is committed to using all elements of American power, including the strength of America's values. The National Security Strategy The National Security Strategy, released May 27, 2010, lays out a strategic approach for advancing American interests, including the security of the American people, a growing U.S. economy, support for our values, and an international order that can address 21st century challenges. Read the full National Security Strategy (pdf) President Obama made Progress: •Hosted the leaders of Britain, Canada, France, Germany, Italy, Japan, and Russia joined President Obama Camp David for the annual G8 Summit on May 18-19, 2012, where the leaders addressed major global economic, political, and security challenges, including energy and climate change, food security and nutrition, Afghanistan's economic transition and transitions taking place across the Middle East and North Africa. The next day, the President went to Chicago, where the U.S. hosted the annual NATO Summit, a gathering of leaders from the 28 member countries of the North Atlantic Treaty Organization. On the second day of the Summit, May 21, the 50 nations that make up the International Security Assistance Force in Afghanistan met to discuss the next step in the transition of power there— setting a goal for Afghan forces to take the lead for combat operations across the country in 2013. •Taken the fight to al Qaeda and eliminated Osama bin Laden. •Presented President Obama's National Strategy for Counterterrorism, with a principal focus on al-Qa'ida, its affiliates and its adherents. •Announced a plan to responsibly end the War in Iraqand kept our promise to end combat operations there by August 31, 2010 and to remove all US troops by the end of 2011. Implemented a new strategy for Pakistan and Afghanistan that re-focuses our efforts on disrupting, dismantling and defeating al Qaeda and that begins the drawdown of U.S. forces in July 2011. Proposed a new beginning between the United States and Muslims around the world, based upon mutual interest and mutual respect. Mobilized resources and manpower to aid in relief efforts in Haiti, Japan, Pakistan and elsewhere. Built a broad coalition to pressure Iran to abandon its nuclear program, including unprecedented sanctions by Congress, the UN Security Council, and a host of other nations and regional bodies. Reaffirmed our unwavering support for the military as well as their families. Related Blog Posts -
August 21, 2012 3:53 PM EDT The United States is making it easier for individuals to contribute to earthquake relief efforts in Iran. -
August 02, 2012 9:40 AM EDT  Monday, White House Chief of Staff Jack Lew visited the Jewish Community Relations Council of New York (JCRC), the latest in a series of community forums. While at JCRC he engaged in a dialogue with a cross section of Jewish community leaders in the New York metropolitan area. The wide ranging conversation covered topics in the areas of domestic and foreign policy. -
August 01, 2012 2:57 PM EDT  Earlier this week, the White House hosted an event to discuss President Obama's Presidential Policy Directive (PPD) on Sub-Saharan Africa, which he signed on June 14th 2012. - view all related blog posts
From the Press Office -
August 22, 2012 6:30 PM EDT -
August 20, 2012 5:26 PM EDT -
August 06, 2012 5:18 PM EDT Refocusing on the Threat from al Qaeda in Afghanistan and Pakistan President Obama took office pledging to end the war in Iraq while refocusing on al Qaeda – particularly in Afghanistan and Pakistan. Since taking office, the Obama Administration has focused its resources on al Qaeda and its affiliates. These counter-terrorism efforts have substantially impacted al Qaeda's leadership, including the death of Osama bin Laden in May 2011. On December 1, 2009, at West Point, the President put forth a new U.S. strategy for Afghanistan and Pakistan that is focused on disrupting, dismantling, and defeating al Qaeda and preventing its capacity to threaten America and our allies in the future. To accomplish this, he said we would pursue three objectives: denying al Qaeda a safe haven, reversing the Taliban's momentum, and strengthening the capacity of Afghanistan's security forces and government so that they can take lead responsibility for Afghanistan's future. He also committed to begin the responsible withdrawal of U.S. troops from Afghanistan beginning in July 2011.
On June 22, the President addressed the American people about the way forward in Afghanistan. We have made substantial progress on the objectives the President laid out at West Point, and he made clear that we will begin the drawdown of U.S. troops from a position of strength. We have exceeded our expectations on our core goal of defeating al-Qa'ida – killing 20 of its top 30 leaders, including Osama bin Laden. We have broken the Taliban's momentum, and trained over 100,000 Afghan National Security Forces. The U.S. will withdraw 10,000 U.S. troops from Afghanistan by the end of 2011, and the 33,000 "surge" troops he approved in December 2009 will leave Afghanistan by the end of summer 2012.
Responsibly Ending the War in Iraq On February 27, 2009, President Obama announced a plan to responsibly end the war in Iraq. On August 31, 2010, the President announced the end of our combat mission in Iraq, and Iraqi Security Forces assumed lead responsibility for their nation's security. On October 21, 2011, the President announced that all U.S. troops will be out of Iraq by the end of the year, as promised. Beyond 2011, the United States will have a normal relationship with a sovereign Iraq, one in which we work together as partners to promote our common security and prosperity. In December of 2011, the final U.S. troops left Iraq, ending America's war there. When the Obama Administration took office, there were roughly 180,000 U.S. troops serving in Iraq and Afghanistan – by the end of 2011, that number will be cut in half, and it will continue to go down. As we wind down the wars, we are refocusing on rebuilding our nation at home, and addressing a broader set of priorities abroad. Stopping a Massacre and Supporting the Libyan People Faced with an imminent massacre by Moammar Qadhafi's regime, President Obama led in building an international coalition to protect the Libyan people. The United States helped save thousands of lives and stopped Qadhafi's forces in their tracks. We then supported the Libyan people as they brought down the Qadhafi regime, ending the reign of a dictator who persecuted his people and killed Americans. During our intervention in Libya, our friends and allies shared the costs and responsibilities of action – there were no U.S. casualties or troops on the ground. Going forward, we will continue to support the Libyan people as a friend and partner as they build a democracy. Keeping Nuclear Weapons Out of the Hands of Terrorists On April 5, 2009 in Prague, President Obama declared his vision for achieving the "peace and security of a world without nuclear weapons," laying out a plan for near term practical steps to move in that direction. He proposed measures to: reduce the number and role of nuclear weapons by those states that already possess nuclear weapons, starting first with Russia and the U.S.; to prevent additional countries from acquiring nuclear weapons by strengthening the international non-proliferation regime and by holding accountable those states that have violated their obligations, such as Iran and North Korea; to prevent nuclear terrorism by securing vulnerable nuclear materials and strengthening international cooperation on nuclear security; and, to develop new mechanisms to support the growth of safe and secure nuclear power in ways that reduce the spread of dangerous technologies. President Obama issued an updated Nuclear Posture Review that reduces the role of nuclear weapons in our overall defense posture by declaring that the fundamental role of U.S. nuclear forces is to deter nuclear attacks against the U.S. and our allies and partners. In April 2010, the President hosted the Nuclear Security Summit where leaders pledged specific steps to prevent nuclear terrorism and support the President's proposal to lock down all vulnerable nuclear materials in four years. The Administration also oversaw the negotiation and ratification of the New START Treaty, which President Obama and President Medvedev signed in April 2010 in Prague. By significantly reducing levels of U.S. and Russia deployed strategic weapons, the Treaty represents a commitment by the world's two largest nuclear powers to the goal of disarmament. In addition, the Treaty strengthens the reset in relations between Washington and Moscow that is helping us to address the most urgent proliferation threats we face in Iran and North Korea. Promoting Peace and Security in Israel and the Middle East The United States is committed to a comprehensive, just, and lasting peace in the Middle East, including two states for two peoples – Israel as a Jewish state and the homeland for the Jewish people and the State of Palestine as the homeland for the Palestinian people – each enjoying self-determination, mutual recognition, and peace. President Obama believes that a key component of achieving peace is maintaining the unshakeable U.S. commitment to Israel's security. He has also said that the core issues can only be negotiated in direct talks between the parties. That is why the President stated publicly principles on territory and security that can provide a foundation for an agreement to end the conflict and resolve all claims. Re-energizing America's Alliances America's relationships with our allies are at the center of our engagement with the world.Since taking office, President Obama has strengthened America's old alliances, while building new partnerships to confront the challenges of the 21st century. - On his first trip overseas, the President visited Europe to begin this process, with the G-20 Summit, the 60th Anniversary NATO Summit, and the U.S-E.U. Summit. During his May 2011 trip to Europe, the President reaffirmed his commitment to the Transatlantic Partnership and its role in addressing global challenges.
- The President made clear in his speech to the Turkish Parliament and in Cairo that America's relationship with the Muslim world will be based on more than our shared opposition to terrorism. We seek broader engagement based on mutual interest and mutual respect.
- The United States seeks to strengthen our historic alliances in Asia while developing deeper bonds with all nations of the region, so that we might work together to confront the challenges of the 21st century, including proliferation, climate change, pandemics and economic instability. Since the beginning of his administration, the President has made three trips to Asia and supported strategic senior-level dialogues with India and China.
Maintaining Core American Values Every challenge is more easily met if we tend to our own democratic foundation. This is why the President prohibited -- without exception or equivocation -- the use of torture, and set up a Special Task Force to thoroughly review detainee policy. He also reformed Military Commissions to make the more effective in bringing terrorists to justice consistent with the rule of law. He remains committed to closing the prison at Guantanamo Bay, which endangers our security. Sudan After years of war, the President successfully led an international effort to ensure the emergence of an independent South Sudan and remains committed to ending the suffering in the Darfur region. Since the beginning of the Administration, we have implemented a whole-of-government strategy to end the violence; to get humanitarian assistance to the people of Sudan; to implement the Comprehensive Peace Agreement; and to assist in negotiations between Sudan and South Sudan even after its independence on July 9, 2011. The President appointed a Special Envoy for Sudan as a strong signal of his commitment to support the Sudanese people. We are committed to working with the international community to ensure a stable and secure future for the region. Restoring American Leadership in Latin America The future of the United States is inextricably bound to the future of the people of the Americas. We are committed to a new era of partnership with countries throughout the hemisphere, working on key shared challenges of economic growth and equality, our energy and climate futures, and regional and citizen security. We are committed to shaping that future through engagement that is strong, sustained, meaningful, and based on mutual respect. Less than a hundred days into the administration, the President went to the Summit of the Americas in Trinidad and Tobago, where he met with all of the leaders in the Western Hemisphere. The President also traveled to Brazil, Chile, and El Salvador to strengthen our partnerships in the Americas. Ensuring Energy Security and Fighting Climate Change The President has committed to put America on a path to a clean energy economy that improves our energy security, reduces our use of fossil fuels, and drives a new era of American innovation.The United States recognizes the need to break from old ways that threaten our economy and our planet and the President has committed to investing $150 billion in clean energy research and development over ten years. From the Americas to Asia, he is building new clean energy partnerships that will grow our economy while preserving our planet. The U.S. will be a leader in addressing global climate change both by making contributions of our own and engaging other countries to do the same. President Obama has demonstrated the United States' commitment to a low-carbon future, bilaterally and through the UN Framework Convention on Climate Change process by working with other major economies to reduce emissions and pursue clean energy. AP Interview: Obama on Romney's 'extreme' viewsBy BEN FELLER | Associated Press – 22 mins ago WASHINGTON (AP) — President Barack Obama said Mitt Romney has locked himself into "extreme positions" on economic and social issues and would surely impose them if elected, trying to discredit his Republican rival at the biggest political moment of his life. In an interview with The Associated Press, Obama said Romney lacks serious ideas, refuses to "own up" to the responsibilities of what it takes to be president, and deals in factually dishonest arguments that could soon haunt him in face-to-face debates. Obama also offered a glimpse of how he would govern in a second term of divided government, insisting rosily that the forces of the election would help break Washington's stalemate. He said he would be willing to make a range of compromises with Republicans, confident there are some who would rather make deals than remain part of "one of the least productive Congresses in American history." Mainly, Obama was intent on countering Romney even before his challenger got to the Republican National Convention, which starts Monday in Tampa, Fla . In doing so, the president depicted his opponent as having accumulated ideas far outside the mainstream with no room to turn back. "I can't speak to Governor Romney's motivations," Obama said. "What I can say is that he has signed up for positions, extreme positions, that are very consistent with positions that a number of House Republicans have taken. And whether he actually believes in those or not, I have no doubt that he would carry forward some of the things that he's talked about." Obama spoke to the AP on Thursday before heading off to a long weekend with his family at Camp David, the secluded presidential retreat in the Maryland mountains. The president was at ease but doggedly on script, steering even personal-themed questions about Romney and running mate Paul Ryan into answers about starkly different visions for helping the middle class. Romney, a successful former executive of a private equity firm and one-time Massachusetts governor, will introduce himself to a TV audience of millions next Thursday as he takes the convention stage to accept his party's presidential nomination. He has offered himself as a business-minded alternative to Obama and has seized on voter concerns about joblessness and the direction of the nation. Nearly ten weeks before Election Day, the race is remarkably stable and reflective of a sharply divided nation, with registered voters about evenly split on their choice and nearly a quarter of them unsure or still willing to change their mind. Across the interview, Obama's messages often seemed directed at moderate and independent voters whose sway could make the difference. Obama's depiction of a Romney presidency grew most pointed when he was asked if his Republican challenger has no core, as one of Obama's top advisers once put it. The president suggested that whatever Romney really stands for in life is secondary to the promises Romney has made in the campaign. In explaining his accusation of "extreme" positions, the president cited Romney's call for across-the-board tax cuts that Obama said would mostly help the rich at the expense of everyone else and cost the nation $5 trillion. Obama singled out Romney's opposition to tax credits for producers of wind energy, the kind of issue that carries large political resonance in a battleground state such as Iowa. And Obama alluded to the provocative issue of abortion, suddenly thrust to the fore this week when Republican Missouri Senate candidate Todd Akin said the female body has a way to "shut that whole thing down" when a woman is the victim of "legitimate rape." The Republican platform in Tampa calls for a ban on abortion with no specific exceptions for rape or other circumstances. Obama predicted that a President Romney would not "stand in the way" if Congress gave him a bill that stripped away women's control over their reproductive health. Romney is on record, however, as not opposing abortion in cases of rape and incest or if it will save the mother's life. Polling shows social issues such as abortion represent perhaps Obama's best opportunity to draw support from Romney. Obama already holds a broad lead as the candidate more trusted to handle those social issues among Democrats and independents. The issue is one of Romney's biggest vulnerabilities among moderate and liberal Republicans. Obama also sought to chip away at Romney's trustworthiness, taking fresh shots at Romney's refusal to release years of tax returns for public inspection. He said that position was indicative of a candidate who has a "lack of willingness to take responsibility for what this job entails." Yet it is the economy that has driven this election and has dominated Obama's message of a middle-class revival. "We aren't where we need to be. Everybody agrees with that," said Obama, who inherited an economy in free fall and now bears responsibility for a recovery that remains weak. "But Governor Romney's policies would make things worse for middle-class families and offer no prospect for long-term opportunity for those striving to get into the middle class," the president said. A Romney spokesman, Ryan Williams, jumped on Obama's account in the interview that the economy clearly needs to get better. "Mitt Romney and Paul Ryan agree," Williams said. "The American people know they aren't better off than they were four years ago." Obama holds a decisive advantage over Romney when Americans are asked who better understands their daily woes. Yet nearly two-thirds of people in a new AP-GfK poll say the economy is in poor shape, and 60 percent say the country is headed in the wrong direction. Obama expressed confidence that even voters whose lives have not improved during his term will stick with him as they assess the two candidates. "If they saw Gov. Romney offering serious proposals that offered some sort of concrete ways in which middle-class families would be helped, then I could understand them thinking about that choice," Obama said. "But that's not what's happening." And therein lies the central case that Obama made in the interview, as he has made for months, and as he will again at his own party's convention in Charlotte, N.C., in early September. Obama said he is the candidate whose policies have historically helped the middle class on issues that people care about and that shape the economy — education, manufacturing, science and research, Medicare, debt reduction, tax rates, health care, consumer protection, college aid, energy. Williams, the Romney spokesman, responded that Obama has piled up national debt and presided over high unemployment. "Too many middle-class families are going to sleep each night worried," he said. "This may be the best President Obama can do, but it's not the best America can do." The moment that could finally shake up a close race could come in the three debates Obama and Romney hold in October. The president said Romney could run into trouble because of arguments that are not backed up by facts, citing a widely debunked television ad campaign in which Romney accuses Obama of gutting the work requirement in the federal welfare law. "It will be a little tougher to defend face-to-face," Obama said. Obama's view of a different second-term dynamic in Washington, even if both and House Republicans retain power, seems a stretch given the gridlocked politics of a divided government. He said two changes — the facts that "the American people will have voted," and that Republicans will no longer need to be focused on beating him — could lead to better conditions for deal-making. If Republicans are willing, Obama said, "I'm prepared to make a whole range of compromises" that could even rankle his own party. But he did not get specific. The 25-minute interview, conducted in the library of the White House residence, was part of a multi-faceted campaign by Obama's team to snag some of the spotlight during Romney's big week. Obama denied the notion, widely if quietly held in political circles, that the fiercely competitive president is also driven to beat Romney because he does not hold him in high regard. "I don't really know him well," Obama said. "The big arguments that I have with Governor Romney have to do with where we take this country forward." Associated Press Writer Ken Thomas and AP Deputy Director of Polling Jennifer Agiesta in Washington and AP Writer Steve Peoples in Columbus, Ohio contributed to this report. Ron Paul on Romney: 'I don't fully endorse him for president' Political Reporter  Ron Paul (T.J. Kirkpatrick/Getty Images) TAMPA -- Mitt Romney's presidential campaign gave Texas Rep. Ron Paul a chance to speak at the Republican National Convention, but he declined due to the conditions of the offer, the New York Times reports: Mr. Paul, in an interview, said convention planners had offered him an opportunity to speak under two conditions: that he deliver remarks vetted by the Romney campaign, and that he give a full-fledged endorsement of Mr. Romney. He declined. "It wouldn't be my speech," Mr. Paul said. "That would undo everything I've done in the last 30 years. I don't fully endorse him for president." Republicans plan to show a tribute video honoring the the retiring libertarian politician Tuesday at the convention. Paul is also holding his own rally nearby on Sunday afternoon. Dems slam Ryan over Social Security privatizationBy STEPHEN OHLEMACHER | Associated Press – 3 hrs ago WASHINGTON (AP) — Democrats are eagerly renewing their fight against privatizing Social Security now that Republican presidential candidate Mitt Romney has picked Paul Ryan as his running mate. It was a fight that didn't go well for the GOP when President George W. Bush pushed the idea in 2005. In his 2010 "Road Map for America's Future," the Wisconsin congressman proposed a plan to allow younger workers to divert more than one-third of their Social Security taxes into personal accounts that they would own and could will to their heirs. Ryan wrote that the accounts would provide workers an opportunity "to build a significant nest egg for retirement that far exceeds what the current program can provide." Workers 55 and older would stay in the current system. Romney hasn't embraced the proposal and Ryan, chairman of the House Budget Committee, didn't include it in either of the federal budgets passed by House Republicans the past two years. But now that Ryan is running for vice president, Democrats hope to capitalize on the issue. Bush's proposal for private accounts received a chilly reception from members in both parties in Congress, though Ryan embraced it. Democrats used the issue against GOP congressional candidates in the 2006 election, when they regained control of the House and Senate. "The very last thing we ought to be doing is putting at risk the retirement security of millions of America's seniors," said Rep. Debbie Wasserman Schultz of Florida, who heads the Democratic National Committee. Until now, Social Security had been largely absent from the presidential campaign. President Barack Obama has yet to lay out a detailed plan for addressing the issue, and his silence is drawing criticism from advocates who supported him in the past. Romney has been more forthcoming with proposals, but Social Security has not been a big part of his campaign, either. Romney, in his book, "No Apology," said he liked the idea of personal accounts. But, he wrote, "Given the volatility of investment values that we have just experienced, I would prefer that individual accounts were added to Social Security, not diverted from it, and that they were voluntary." Romney's current plan for Social Security doesn't mention personal accounts. Instead, he proposes a gradual increase in the retirement age to account for growing life expectancy. For future generations, Romney would slow the growth of benefits "for those with higher incomes." Romney says tax increases should be off the table, and current beneficiaries and those near retirement should be spared from cuts. "Mitt Romney and Paul support gradual reforms to Social Security that protect current beneficiaries from any benefit disruptions while strengthening the program to ensure that it doesn't go bankrupt," Romney campaign spokesman Ryan Williams said. The trustees who oversee Social Security say the trust funds that support the program will run dry in 2033. At that point, Social Security will generate only enough tax revenue to pay about 75 percent of benefits, triggering automatic cuts unless Congress acts. During the 2008 campaign, Obama said he wanted to improve Social Security's finances by applying the payroll tax to annual wages above $250,000. It is now limited to wages below $110,100, a level that increases with inflation. Obama also pledged to oppose raising the retirement age or reducing annual cost-of-living adjustments, or COLAs. "Let me be clear, I will not do either," Obama said at the time. Last year, however, Obama put on the table a proposal to reduce annual COLAs during deficit-reduction talks with House Speaker John Boehner, R-Ohio. The talks ultimately failed and nothing came of the proposal, but it raised questions about whether Obama would honor his 2008 pledge. "A national politician would do well to strongly identify themselves with Social Security, not just with rhetoric, but to be very clear that they understand the pain people are experiencing today, that they stand behind this program and they will protect the citizenry and they will not cut benefits," said Eric Kingson, a Syracuse University professor who co-founded Social Security Works. "I hope to hear that from the White House. I have not heard that yet." Obama offered some principles to strengthen Social Security in his 2011 State of the Union address. "We must do it without putting at risk current retirees, the most vulnerable or people with disabilities, without slashing benefits for future generations and without subjecting Americans' guaranteed retirement income to the whims of the stock market," Obama said in the speech. Last week, Vice President Joe Biden made a more sweeping guarantee during a campaign swing in southern Virginia, telling a customer at a diner that Social Security will not be changed. "I guarantee you, flat guarantee you, there will be no changes in Social Security," Biden told the customer, according to a White House pool report. "I flat guarantee you." A Biden adviser said later the vice president was merely reassuring the woman that her benefits would not be changed. The adviser spoke on condition of anonymity because he was not authorized to speak publicly about the issue. Obama campaign spokesman Adam Fetcher said the president "has put forward a set of principles to guide bipartisan action to strengthen it for future generations. Rather than laying the groundwork for a bipartisan approach as the president has done, Mitt Romney's only solution would mean deep benefit cuts for future retirees. His running mate, Paul Ryan was an architect of privatization." Romney's campaign chided Obama's inaction. "His failure to lead on entitlements has put the future of Social Security at risk," said Williams, the Romney spokesman. "Mitt Romney is committed to ensuring that Social Security is there for future generations and he has a comprehensive plan to save Social Security with commonsense reforms." Follow Stephen Ohlemacher on Twitter: http://twitter.com/stephenatap President Obama: "We've Come Too Far to Turn Back Now." Published on Aug 18, 2012 by BarackObamadotcom Help build this campaign: http://OFA.BO/nHAK2p
Four years ago as I had the privilege to travel all across this country and meet Americans from all walks of life.
I decided nobody else should have to endure the heartbreak of a broken health care system. No one in the wealthiest nation on earth should go broke because they get sick.
Nobody should have to tell their daughters or sons the decisions they can and cannot make for themselves are constrained because of some politicians in Washington.
And thanks to you we've made a difference in people's lives. Thanks to you there are folks that I meet today who have gotten care and their cancer's been caught. And they've got treatment. And they are living full lives and it happened because of you.
We've come too far to turn back now. We've got too much work to do to implement health care. We've got too much work to do to create good jobs.
We've got too many teachers that we've got to hire. We've got too many schools that we've got to rebuild. We've got too many students who still need affordable higher education.
There's more homegrown energy to generate. There more troops that we've got to bring home.
There more doors of opportunity we've got to open to anybody who is willing to work hard and walk through those doors.
We've got to keep building an economy where no matter what you look like or where you come from, you can make it here if you try.
And you can leave something behind for the next generation, that's what at stake right now Colorado. That's why I'm running for President of the United States of America.
That's why I'm asking for your vote. I still believe in you. And if you still believe in me, and if you're willing to stand with me, and knock on some doors with me, and make some phone calls with me, and talk to your neighbor and friends about what's at stake—we will win this election. We will finish what we started.
And we'll remind the world why America is the greatest nation on earth.
God bless you and God bless the United States of America. President Obama Urges Congress to Pass American Jobs Act Uploaded by whitehouse on Sep 14, 2011 President Obama travelled to North Carolina State University where he delivered remarks on the American Jobs Act, emphasizing the need for Congress to pass it now and put more people back to work and more money in the pockets of working Americans, while not adding a dime to the deficit. September 14, 2011. Reid: Next Steps Towards Deficit-Reduction, Job-Creation Uploaded by SenateDemocrats on Aug 1, 2011 Senator Harry Reid, speaking to reporters on Monday afternoon, says that once a compromise plan to reduce the deficit becomes law, Congress will focus on getting Americans back to work. Obama Urges Congress to Help Put Teachers Back to WorkBy Mary Bruce | ABC OTUS News – Sat, Aug 18, 2012 With students heading back to school, President Obama is accusing Republicans of wanting to cut education funding to give tax breaks to the wealthy, saying their economic plan "undercuts our future." "This year, several thousand fewer educators will be going back to school," the president says in his weekly address. More than 300,000 local education jobs have been lost since the end of the recession, according to a new White House report on the impact of teacher layoffs. Obama says cuts in education "force kids into crowded classrooms, cancel programs for preschoolers and kindergarteners, and shorten the school week and the school year." Even in tough fiscal times, Obama says states should make education a priority, but adds, "Congress should be willing to help out - because this affects all of us." "That's why part of the jobs bill that I sent to Congress last September included support for states to prevent further layoffs and to rehire teachers who'd lost their jobs. But here we are - a year later with tens of thousands more educators laid off - and Congress still hasn't done anything about it," he says. The president says the Republicans' economic plan would "make the situation even worse." "It would actually cut funding for education - which means fewer kids in Head Start, fewer teachers in our classrooms, and fewer college students with access to financial aid - all to pay for a massive new tax cut for millionaires and billionaires," he says. "That's backwards. That's wrong. That plan doesn't invest in our future; it undercuts our future." Obama touts the steps he has taken to boost the nation's education system, including instituting the Race to the Top competitive grant program, giving states flexibility on No Child Left Behind requirements, and reforming the student loan program. Adviser says Romney to release 2011 tax return by October 15Reuters – 9 hrs ago WASHINGTON (Reuters) - Republican U.S. presidential challenger Mitt Romney plans to make public his 2011 tax return by October 15, a senior campaign adviser said on Sunday, as President Barack Obama's re-election team pressed its criticism of Romney's decision not to disclose more about his personal taxes. Romney, a former private equity executive who is one of the richest men ever to run for president, has come under pressure for months from the Obama campaign to release more years of tax returns. He has released his 2010 tax return and estimates for 2011 but does not plan to reveal more years of returns. In April, he requested an extension from the Internal Revenue Service to file his 2011 tax forms, while estimating his tax liability at $3.2 million for last year. Ed Gillespie, a senior Romney adviser, indicated the former Massachusetts governor would release the 2011 return by October 15, about three weeks before the November 6 election, but refused to say exactly when. "Look, October 15 is the deadline for the IRS on an extension. We have said as soon as they're ready we're going to release them. And I believe they'll be ready before that," Gillespie told the "Fox News Sunday" program. "They're being finalized. There's a lot of forms that have to come in from other entities that the governor doesn't have control over," Gillespie added. He said Americans will have "ample information" about Romney's taxes with the disclosure of the 2010 return and the planned release of the 2011 return. The Obama campaign and its Democratic allies have targeted Romney's wealth and refusal to release more tax returns in ads that paint him as out of touch with ordinary Americans. Romney has an estimated net worth of up to $250 million. Obama's campaign said on Friday that if Romney releases five years of returns, it would not press him to release more - a proposal quickly rejected by Romney's team. 'MORE DAMAGING' "Look, Mitt Romney is a highly educated man. And he has clearly made a decision that what is in those tax returns is far more damaging to him than to do what every presidential candidate has done, which is show the American people your personal finances," Obama campaign senior adviser Robert Gibbs told "Fox News Sunday." Gillespie faulted the Obama team's focus on Romney's personal taxes. "It wasn't an issue in 2008 because President Obama wasn't trying to distract from a four-year-long record of failed policies," he added. Romney's vice presidential choice, congressman Paul Ryan, on Friday released tax returns showing he paid an effective tax rate of 20 percent last year, roughly in line with Obama's rate and likely higher than that of his running mate, Mitt Romney. Ryan's release of his 2010 and 2011 tax returns aligned him with Romney's position that giving out two years of tax returns is adequate. The top congressional Democrat, Senate Majority Leader Harry Reid, this month accused Romney of not paying taxes for 10 years, a claim Romney has strongly denied. Romney said on Thursday he paid at least a 13 percent tax rate every year over the last 10 years. Romney has released tax information showing that he paid a 13.9 percent rate for 2010. He said in January he would probably pay 15.4 percent for 2011. Obama paid a rate of 20.5 percent for 2011. Speaking on NBC's "Meet the Press" program, Maryland Governor Martin O'Malley, head of the Democratic Governors Association, said: "The only thing we know for sure is one year of returns. ... We know that he (Romney) has been engaged in tax avoidance schemes, with offshore accounts ... in Cayman Islands and the Bahamas. ... But it is tax avoidance." (Reporting by Will Dunham, Christopher Wilson, Jason Lange and Paul Eckert; Editing by Eric Beech)  Photograph by Luke Sharrett/The New York Times via Redux Paul Ryan at a news conference on Capitol Hill in Washington, D.C. Politics & Policy Paul Ryan's Peculiar Definition of Bipartisanship In early 2011, Representative Paul Ryan (R-Wis.) was shopping around a Medicare plan, and he was in search of Democratic support. The previous year he'd released a proposal for privatizing Medicare that he had trouble selling to even his own party: Only 13 Republicans signed on. Clearly he needed to expand his base of support. Ryan found a partner in Alice Rivlin. A former director of the Office of Management and Budget in the Clinton White House and a Washington Wise Woman, Rivlin was serving with Ryan on the Simpson-Bowles Commission that was looking for ways to bring the federal deficit and national debt under control. After an extended back and forth, the two came up with a proposal both could live with: Instead of getting rid of the fee-for-service model—Medicare as we know it, in which the government pays providers directly—and opening everything to the free market, Medicare would compete directly with private plans regulated by government exchanges. And rather than pegging the growth rate of Medicare to the Consumer Price Index, as Ryan had proposed, Ryan appeased Rivlin with a more generous cost cap. Yet when Ryan released his first budget as chairman of the House Budget Committee that April, the outlines of the deal he and Rivlin worked out had been changed. (Ryan-Rivlin never officially got off the ground. Democrats on the Simpson-Bowles Commission refused to endorse it.) They'd agreed that private plans would compete with Medicare. But in Ryan's budget, the option for seniors to stick with traditional fee-for-service Medicare had disappeared. Democrats attacked the budget in ads featuring a man in a suit pushing an old woman off a cliff. In his defense, Ryan said the Medicare proposal was actually a bipartisan effort and pointed to his work with Rivlin. Announcing his budget at the Brookings Institution, where Rivlin is a senior fellow, he said Ryan-Rivlin was the basis of his plan. "Alice Rivlin and I designed these Medicare and Medicaid reforms," Ryan said in an appearance on Morning Joe in April 2011. "Alice Rivlin was Clinton's OMB director," he said. "She's a proud Democrat at the Brookings Institution. These entitlement reforms are based off of those models that she and I worked on together." Rivlin was not happy to see herself being held up as Ryan's partner on a bill that bore little resemblance to their deal, especially since, right before he released the budget, Rivlin had told him she couldn't support it. Rivlin came out publicly against the budget and denied Ryan's claims that she was his co-author: "When I called him on out it, he softened the tone of his references to me," Rivlin says. She isn't upset with Ryan. "He genuinely wanted a bipartisan bill," she says of his initial efforts. "I don't think he was doing anything bad," she adds. "He was pleased to have a Democratic partner." Something similar happened this week. In announcing his running mate, Mitt Romney praised Ryan as a man who works "across the aisle." As an example of Ryan's bipartisanship, Romney offered up Ryan's relationship with Senator Ron Wyden, a liberal Democrat from Oregon. After Rivlin-Ryan failed, Ryan continued to look for Democrats who would support his plan. Eventually he found Wyden, who has a reputation of teaming up with Republicans on ambitious legislation. In December 2011, they worked together on a blueprint for reforming Medicare. Ryan-Wyden wasn't a bill, but a white paper—a set of principles the two men endorsed. But what ultimately came out months later in Ryan's next budget didn't look to Wyden like what he'd signed on for. In the 2012 budget, Ryan agreed to keep traditional Medicare as an option. In the white paper, Ryan had agreed to Wyden's demand that if Medicare costs exceeded an agreed-upon cap, the costs would be covered by insurance providers—not beneficiaries. Ryan's budget cut the cap in half—and lost the guarantee. Wyden made his opposition known: He voted against the budget (which also repealed the Affordable Care Act entirely), which he argued shifted costs onto the most vulnerable, and let Ryan know that the new budget was not the same as Ryan-Wyden. Brendan Buck, a Romney spokesman, says in an e-mail exchange that the differences between his plan with Ryan and Wyden's, were "negligible." Wyden didn't think so: The senator, who typically avoids divisive comments, accused Romney of "talking nonsense" about his work with Ryan. Asked for other examples of Ryan's bipartisanship, Buck brought up … Rivlin. Just because she didn't ultimately support Ryan's Medicare plan, he says, "doesn't mean he hasn't worked in a bipartisan manner to find solutions to our debt crisis." Dwoskin is a staff writer for Bloomberg Businessweek in Washington. Bain Capital started with help of offshore investors Mitt Romney's firm raised more than a third of its first investment fund from wealthy foreigners — who mostly used companies in Panama, then known for tax advantages and banking secrecy. July 19, 2012|By Joseph Tanfani, Melanie Mason and Matea Gold Mitt Romney in 1990 with Bain & Co. founder Bill Bain, who reportedly… (Boston Globe, Justine Schiavo ) Washington Bureau WASHINGTON — When Mitt Romney launched Bain Capital in 1984, he struggled at first to raise enough money for the untested venture. Old-money families like the Rothschilds turned down the young Boston consultant.  So he and his partners tapped an eclectic roster of investors, raising more than a third of their first $37-million investment fund from wealthy foreigners. Most of the foreign investors' money came through corporations registered in Panama, then known for tax advantages and unusual banking secrecy. Previously unreported details, documented in Massachusetts corporate filings and other public records, show that Bain Capital was enmeshed in the largely opaque world of international high finance from its very inception. The documents don't indicate any wrongdoing, and experts say that such financial vehicles are common for wealthy foreign investors. But the new details come as President Obama has criticized Romney for profiting from Bain Capital's own offshore investment entities, which are unavailable to most Americans. The Romney campaign declined to comment on the specifics of Bain's early investors. Romney has argued that his offshore investments are entirely proper, and that he has paid all the U.S. taxes that he owes. The offshore funds do provide tax advantages for foreign investors, allowing Bain to attract billions of dollars. "The world of finance is not as simple as some would have you believe," Romney said in an interview this week with National Review Online. The first outside investor in Bain was a leading London financier, Sir Jack Lyons, who made a $2.5-million investment through a Panama shell company set up by a Swiss money manager, further shielding his identity. Years later, Lyons was convicted in an unrelated stock fraud scandal. About $9 million came from rich Latin Americans, including powerful Salvadoran families living in Miami during their country's brutal civil war. That first investment fund — used to invest in start-up companies and leveraged buyouts — paid out a stunning 173% in average annual returns over a decade, according to a prospectus prepared by an outside bank. It was the start of the private equity powerhouse that ultimately fueled Romney's political career. He now cites his experience at Bain as a chief qualification for the White House. Romney faced unusual complications when he launched Bain Capital, a spinoff of Bain & Co., the Boston consulting firm he joined when he graduated from Harvard Business School. At the time, U.S. officials were publicly accusing some exiles in Miami of funding right-wing death squads in El Salvador. Some family members of the first Bain Capital investors were later linked to groups responsible for killings, though no evidence indicates those relatives invested in Bain or benefited from it. Romney has said he checked the foreign investors' backgrounds. His campaign and Bain Capital declined to provide specifics. Alex Stanton, a spokesman for Bain Capital, said confidentiality rules barred him from commenting on the investors. "The hyperbole of political campaigns cannot change the fact that Bain Capital has operated with high standards of integrity and excellence, including compliance with all applicable laws and regulations regarding the vetting of our investors in consultation with experienced counsel and other advisors," he said. "Any suggestion to the contrary is baseless." Matt McDonald, a spokesman for the Romney campaign, also declined to discuss details of the original fund. "There were many investors who saw the opportunity of a firm that could help fix broken companies and help them grow." But when Romney and his partners started the firm, Bain & Co. founder Bill Bain — worried the new venture could fail — barred them from soliciting current clients or corporations that would have to publicly disclose the investment, according to an early Bain Capital employee. Bain partners put in $12 million of their own money, then sought the rest from wealthy individuals. Records show the first investment in Bain Capital — $1.25 million in June 1984 — was in the name of Jean Overseas Ltd., registered in Panama by Marcel Elfen, a Swiss money manager. Later, the investment was doubled. The Panamanian shell company apparently was a vehicle for Lyons, the British businessman and philanthropist. Lyons died in 2008. His son, David Lyons of Quebec, said in a phone interview that he had never heard of Jean Overseas, but he confirmed that his father was "absolutely" an early investor in Bain Capital and said that Elfen, who died last year, was his father's money manager. David Lyons said that wealthy Europeans like his father often invested through offshore shell corporations. "It allowed some confidentiality," he said. "It allowed a lot of things." |
heatedchaos007 5 hours ago