Obama Heads to Cleveland to Push Economic Recovery Plan
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Wars in Iraq and Afghanistan, the Gulf oil spill and Middle East peace talks have diverted President Obama from what voters care about most: the economy. Is it too late to make a difference before November's elections? Also, BP assigns blame for the Gulf oil spill, and General Electric's last incandescent light bulb factory is closing down. We hear what that means for the green economy and 200 American workers.
Banner image: The President speaks in Parma, Ohio, September 8, 2010. White House Photo: Chuck Kennedy
Making News
BP Assigns Blame for Spill ()
BP today released its long-awaited report on America’s worst environmental disaster, saying other companies share the blame for the Deepwater-Horizon explosion in the Gulf of Mexico. TransOcean and Halliburton have already responded. Russell Gold is energy reporter for the Wall Street Journal.
Guests:
- Russell Gold: Energy Reporter, Wall Street Journal
Main Topic
Obama on the Economy…at Last ()
The November elections are less than two months away, and Democrats have their backs against the wall. As he tours the country this week, President Obama is now pushing some Republican-sounding proposals for boosting the economy. Monday in Milwaukee, he was in campaign mode. Today, the pitch is going personal, from a president whose childhood included food stamps. In Cleveland, Obama unveiled some business-friendly proposals, including tax credits worth $100 billion for research and development, $200 billion in write-offs for capital investments and extension of most of President Bush’s tax cuts, along with $50 billion in spending on roads and bridges. But even some Democrats are asking, what took so long?
Guests:
- Ben White: Reporter, Politico.com, @morningmoneyben
- Glenn Hubbard: former Chairman, Council of Economic Advisers
- David Sirota: nationally syndicated columnist, @davidsirota
- Gail Russell Chaddock: Congressional Reporter, Christian Science Monitor
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Reporter's Notebook
GE Closing Its Last Major Incandescent Light Bulb Factory ()
Thomas Edison invented the incandescent light bulb in the 1870's. He helped found General Electric, which has provided jobs for countless workers to make incandescent light bulbs. Now, that's changing and American workers may be left in the dark. This month, GE's last incandescent light-bulb factory is closing down and some 200 employees will be out of work. Peter Whoriskey covers manufacturing for the Washington Post.
Guests:
- Peter Whoriskey: Financial Reporter, Washington Post
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