On April 20, 2010, an explosion destroyed an offshore drilling rig at the Macondo Prospect in the Gulf of Mexico, causing a major sustained oil leak. Obama visited the Gulf, announced a federal investigation, and formed a bipartisan commission to recommend new safety standards, after a review by Secretary of the Interior Ken Salazar and concurrent Congressional hearings. He then announced a six-month moratorium on new deepwater drilling permits and leases, pending regulatory review. As multiple efforts by BP failed, some in the media and public expressed confusion and criticism over various aspects of the incident, and stated a desire for more involvement by Obama and the federal government.
On February 10, 2007, Obama announced his candidacy for President of the United States in front of the Old State Capitol building in Springfield, Illinois. The choice of the announcement site was viewed as symbolic because it was also where Abraham Lincoln delivered his historic "House Divided" speech in 1858. Obama emphasized issues of rapidly ending the Iraq War, increasing energy independence, and reforming the health care system, in a campaign that projected themes of hope and change.
More InfoPresident Obama's 2011 State of the Union Address focused on themes of education and innovation, stressing the importance of innovation economics to make the United States more competitive globally. He spoke of a five-year freeze in domestic spending, eliminating tax breaks for oil companies and reversing tax cuts for the wealthiest Americans, banning congressional earmarks, and reducing healthcare costs. He promised the United States would have one million electric vehicles on the road by 2015 and be 80% reliant on "clean" electricity.
More InfoObama was elected to the Illinois Senate in 1996, succeeding Democratic State Senator Alice Palmer from Illinois's 13th District, which, at that time, spanned Chicago South Side neighborhoods from Hyde Park–Kenwood south to South Shore and west to Chicago Lawn. Once elected, Obama gained bipartisan support for legislation that reformed ethics and health care laws. He sponsored a law that increased tax credits for low-income workers, negotiated welfare reform, and promoted increased subsidies for childcare. In 2001, as co-chairman of the bipartisan Joint Committee on Administrative Rules, Obama supported Republican Governor Ryan's payday loan regulations and predatory mortgage lending regulations aimed at averting home foreclosures.
More InfoObama was elected to the Illinois Senate in 1996, succeeding Democratic State Senator Alice Palmer from Illinois's 13th District, which, at that time, spanned Chicago South Side neighborhoods from Hyde Park–Kenwood south to South Shore and west to Chicago Lawn. Once elected, Obama gained bipartisan support for legislation that reformed ethics and health care laws. He sponsored a law that increased tax credits for low-income workers, negotiated welfare reform, and promoted increased subsidies for childcare. In 2001, as co-chairman of the bipartisan Joint Committee on Administrative Rules, Obama supported Republican Governor Ryan's payday loan regulations and predatory mortgage lending regulations aimed at averting home foreclosures.
More InfoThe Congressional Budget Office (CBO) and a broad range of economists credit Obama's stimulus plan for economic growth. The CBO released a report stating that the stimulus bill increased employment by 1–2.1 million, while conceding that "It is impossible to determine how many of the reported jobs would have existed in the absence of the stimulus package." Although an April 2010, survey of members of the National Association for Business Economics showed an increase in job creation (over a similar January survey) for the first time in two years, 73% of 68 respondents believed the stimulus bill has had no impact on employment. The economy of the United States has grown faster than the other original NATO members by a wider margin under President Obama than it has anytime since the end of World War II. The Organisation for Economic Co-operation and Development credits the much faster growth in the United States to the stimulus plan of the US and the austerity measures in the European Union.
More InfoWe don't show ads. Help us keep it that way.