On October 1, 2009, the Obama administration went ahead with a Bush administration program increasing nuclear weapons production. The “Complex Modernization” initiative expanded two existing nuclear sites to produce new bomb parts. The administration built new plutonium pits at the Los Alamos lab in New Mexico and expanded enriched uranium processing at the Y-12 facility in Oak Ridge, Tennessee. In November 2013, the Obama administration opened negotiations with Iran to prevent it from acquiring nuclear weapons, which included an interim agreement. Negotiations took two years with numerous delays, with a deal being announced July 14, 2015. The deal, titled the "Joint Comprehensive Plan of Action," saw the removal of sanctions in exchange for measures that would prevent Iran from producing nuclear weapons. While Obama hailed the agreement as being a step towards a more hopeful world, the deal drew strong criticism from Republican and conservative quarters, and from Israeli prime minister Benjamin Netanyahu. In addition, the transfer of $1.7 billion in cash to Iran shortly after the deal was announced was criticized by the republican party. The Obama administration said that the payment in cash was because of the "effectiveness of U.S. and international sanctions." In order to advance the deal, the Obama administration shielded Hezbollah from the Drug Enforcement Administration's Project Cassandra investigation regarding drug smuggling and from the Central Intelligence Agency.On a sidenote, the very same year, in December 2015, Obama started a $348 billion worth program to back the biggest U.S. buildup of nuclear arms since Ronald Reagan left the White House.
Obama intervened in the troubled automotive industry in March 2009, renewing loans for General Motors and Chrysler to continue operations while reorganizing. Over the following months the White House set terms for both firms' bankruptcies, including the sale of Chrysler to Italian automaker Fiat and a reorganization of GM giving the U.S. government a temporary 60% equity stake in the company, with the Canadian government taking a 12% stake. In June 2009, dissatisfied with the pace of economic stimulus, Obama called on his cabinet to accelerate the investment. He signed into law the Car Allowance Rebate System, known colloquially as "Cash for Clunkers," which temporarily boosted the economy.
More InfoOn 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.
More InfoIn 2013, Jeffrey Goldberg reported that, in Obama's view, "with each new settlement announcement, Netanyahu is moving his country down a path toward near-total isolation." In 2014, Obama likened the Zionist movement to the Civil Rights Movement in the United States. He said both movements seek to bring justice and equal rights to historically persecuted peoples. He explained, "To me, being pro-Israel and pro-Jewish is part and parcel with the values that I've been fighting for since I was politically conscious and started getting involved in politics." Obama expressed support for Israel's right to defend itself during the 2014 Israel–Gaza conflict. In 2015, Obama was harshly criticized by Israel for advocating and signing the Iran Nuclear Deal; Israeli Prime Minister Benjamin Netanyahu, who had advocated the U.S. congress to oppose it, said the deal was "dangerous" and "bad."
More InfoIn March 2010, Obama took a public stance against plans by the government of Israeli Prime Minister Benjamin Netanyahu to continue building Jewish housing projects in predominantly Arab neighborhoods of East Jerusalem. During the same month, an agreement was reached with the administration of Russian President Dmitry Medvedev to replace the 1991 Strategic Arms Reduction Treaty with a new pact reducing the number of long-range nuclear weapons in the arsenals of both countries by about a third. Obama and Medvedev signed the New START treaty in April 2010, and the U.S. Senate ratified it in December 2010.
More InfoAs it did throughout 2008, the unemployment rate rose in 2009, reaching a peak in October at 10.0% and averaging 10.0% in the fourth quarter. Following a decrease to 9.7% in the first quarter of 2010, the unemployment rate fell to 9.6% in the second quarter, where it remained for the rest of the year. Between February and December 2010, employment rose by 0.8%, which was less than the average of 1.9% experienced during comparable periods in the past four employment recoveries. By November 2012, the unemployment rate fell to 7.7%, decreasing to 6.7% in the last month of 2013. During 2014, the unemployment rate continued to decline, falling to 6.3% in the first quarter. GDP growth returned in the third quarter of 2009, expanding at a rate of 1.6%, followed by a 5.0% increase in the fourth quarter. Growth continued in 2010, posting an increase of 3.7% in the first quarter, with lesser gains throughout the rest of the year. In July 2010, the Federal Reserve noted that economic activity continued to increase, but its pace had slowed, and chairman Ben Bernanke said the economic outlook was "unusually uncertain." Overall, the economy expanded at a rate of 2.9% in 2010.
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