A new report released on Thursday reaffirms what many of us have known for along time: President Barack Obama has been really good for the American economy.
According to The 2017 Economic Report of the President, its an understatement to say that the economy has improved under the current president. While that may be true, it also understates the dire situation Obama faced when he took office and just how effective he was in dealing with it.
President Obama didnt just stop a terrible thing from happening, though. He also turned America into the strongest-positioned economy in the world, which is impressive under any circumstance.
More from the report:
Donald Trump says he wants to end the Obama citizenship controversy so he can return to making America great again," but accusations about bigotry and other personal attacks at his and Democratic rival Hillary Clintons campaigns in recent days appear to be taking precedence over policy with Election Da
On paper, the race for the Republican presidential nomination has been over for quite a while. Donald Trumps remaining rivals quit in early May and hes locked up more than enough bound delegates to win on the first ballot. There is no meaningful doubt as to who the GOP nominee will be.Dozens of Republican convention delegates are hatching a new plan to block Donald Trump at this summers party meetings, in what has become the most organized effort so far to stop the businessman from becoming the GOP presidential nominee. Given the strife, a growing group of anti-Trump delegates is convinced that enough like-minded Republicans will band together in the next month to change party rules and allow delegates to vote for whomever they want at the convention, regardless of who won state caucuses or primaries.Theres no shortage of reasons for skepticism, not the least of which is the arithmetic: the WashingtonPosts report said at least 30 delegates are involved in the effort. There are 2,472 delegates headed to the Republican National Convention. At least 30 is a start, but its safe to say the odds are not in therenegades favor.Donald Trump on Saturday called efforts by a group of Republican convention delegates to prevent him from officially clinching the nomination illegal and a hoax.Mr. Trump, speaking at a campaign rally in Las Vegas, devoted a hefty portion of his opening remarks to criticizing efforts to dislodge him. First of all its illegal. Second of all, you cant do it, he said. You have a couple of guys that were badly defeated, and theyre trying to organize maybe like a little bit of a delegate revolt.Trump is devoting quite a bit of energy to denouncing this little possibility. Hes accused Jeb Bush of being involved in the plot against him; hes publicly mocking the GOP insurgents who failed to derail him during the primary process; and hes insisting that the entire effort is a hoax, thats all made up by the press.Note, some of these complaints are contradictory. The anti-Trump campaign cant be a real thing, orchestrated by the candidates Republican detractors, and a made-up thing, imagined by the media. It can be one or the other, but not both.Just to reiterate a point from a couple of weeks ago, Im reasonably sure there will be no convention coup. Its a fun political thought experiment to kick around, but anyone expecting Trump to face such an organized convention revolt is very likely to be disappointed.Indeed, the possibility of a Republican civil war four months before Election Day may be the only scenario worse for the GOP than a Trump-led ticket.The possibility of a coup might be slightly less ridiculous if there were a plausible candidate waiting in the wings, ready to rally support from the GOPs various factions, and eager to pick up the pieces after a convention coup tears the party apart but no such candidate exists. Trumps critics couldnt figure out how to slow him down over the last 12 months, and theres no reason to believe theyll organize a credible convention challenge over the next month.But given how much Trump is talking about the possibility, the mere threat of a revolt appears to have rattled the presumptive GOP nominee in ways that make him look surprisingly nervous.
U.S. drugmaker Pfizer Inc (PFE.N) and Ireland-based Allergan Plc (AGN.N) walked away from their $160 billion merger on Wednesday, a major win for President Barack Obama, who has been pushing to curb deals in which companies move overseas to cut taxes.
Pfizer said the decision was driven by new U.S. Treasury rules aimed at such deals, called inversions. The merger would have allowed New York-based Pfizer to cut its tax bill by an estimated $1 billion annually by domiciling in Ireland, where tax rates are lower.
While the new Treasury rules did not name Pfizer and Allergan, one of the provisions targeted a specific feature of their merger - Allergan's history as a major acquirer of other companies.
Allergan Chief Executive Brent Saunders said on CNBC television that the new Treasury rule would not stop the company from doing other stock-based acquisitions as soon as this fall. The new Treasury rule takes into account the past three years of a company's deals.
"It really looked like they did a very fine job at constructing a temporary rule to stop this deal and obviously it was successful," Saunders said.
Saunders said that he would stay to run the standalone company with a focus on both deals and research and development. Allergan will also move ahead with plans for its $40.5 billion sale of its generic drug business to Israel's Teva Pharmaceutical Industries (TEVA.TA). It expects the transaction to close by June.
With the deal behind it, Pfizer said it would decide this year about whether to split off its hundreds of generic medicines into a separate business. It had put off making that decision until 2019 after announcing its deal with Allergan last November.
Pfizer will pay Allergan $150 million to reimburse expenses from its deal.
Shares of Allergan, which fell 15 percent on Tuesday, were up 1.3 percent at $239.86 in early trading. Pfizer edged up 1.2 percent to $31.74.
Pfizer has new products coming and plenty of money that it could put to work with acquisitions, though not on the scale of Allergan, said Les Funtleyder, healthcare portfolio manager at E Squared Asset Management in New York, which holds Pfizer shares. It is not clear that Pfizer should definitely split into two, he said.
"It is true that these larger companies are a little unwieldy to manage," Funtleyder said, "but there are plenty of strategies to keep them together and increase shareholder value."
The decision to call off the deal came in part because Pfizer was concerned that any tweaks to salvage its deal with Allergan might have provoked new rules by the Treasury, a source familiar with the situation told Reuters on Tuesday.
Obama on Tuesday called global tax avoidance a "huge problem" and urged Congress to take action to stop U.S. companies from deals that allow it.
U.S. inversion rules have unraveled other mergers. U.S. drugmaker AbbVie Inc (ABBV.N) abandoned its $55 billion takeover of Ireland-domiciled peer Shire Plc (SHP.L) in 2014 after the Obama administration cracked down on inversions. AbbVie had to pay Shire a $1.6 billion break-up fee.
(Story refiled to fix typographical error in paragraph 5)
(Reporting by Caroline Humer in New York and Ankur Banerjee in Bengaluru; Editing by Lisa Von Ahn and Nick Zieminski)
Marketing with social media is an easy way to boost your business, buy avoid spamming the web with junk. Take a lesson from the article marketers. Will actually make it harder to market through legitimate channels, although posting tons of junk content will not only not get you anywhere. There are many social media marketing options to choose from, and this article will discuss some of the methods that work.
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APTOPIX White House Fence Jumper
In this photo provided by Vanessa Pena, a man jumps a fence at the White House on Thursday, Nov. 26, 2015, in Washington. The man was immediately apprehended and taken into custody pending criminal charges, the Secret Service said. President Barack Obama and his wife and daughters were spending Thanksgiving the holiday at the White House. (Vanessa Pena via AP)
Your daily look at late-breaking news, upcoming events and the stories that will be talked about Friday:
1. FRANCE, RUSSIA REACH CONSENSUS ON ISLAMIC STATE STRATEGY
The two presidents agreed to increase intelligence sharing and cooperate when targeting the extremist group.
2. WHAT CHICAGO PROTESTERS ARE PLANNING FOR BLACK FRIDAY
Demonstrators will march down the Magnificent Mile on the busiest shopping day of the year to bring attention to issues like police brutality.
3. TRUMP DENIES MAKING FUN OF REPORTER WITH DISABILITY
During a South Carolina speech, the Republican presidential hopeful appeared to imitate mannerisms of a reporter with a condition that affects joint movement, but he says he was only mocking his journalism.
4. WHY THE WHITE HOUSE HAD A THANKSGIVING LOCKDOWN
A man draped in an American flagclimbed over the fence outside the White House with the Obamas celebrating inside before being apprehended on the lawn.
5. HOW A SEX OFFENDER WITHOUT A TICKET MANAGED TO CHECK IN AT AIRPORT
Authorities say the man stole a boarding pass a woman accidentally left behind at a check-in kiosk earlier this month and used it to get through airport security in Salt Lake City before being caught at the flight's gate.
6. OHIO STATE UNIVERSITY ENDS ANNUAL LAKE JUMP AFTER STUDENT DEATH
Authorities say he probably died from a broken neck after participating in a tradition to mark college's football rivalry with the University of Michigan.
7. STORES HOPE SHOPPERS BYPASS POST-THANKSGIVING DINNER NAP FOR SAVINGS
Wal-Mart, Macy's and Toys R Us are among the stores opening on the afternoon and evening of the holiday.
8. THANKSGIVING CELEBRATED WITH PARADES, SECURITY
Astepped-up police presence marked the annual Macy's Thanksgiving Day Parade in New York City, and St. Louis resumed its parade after protests led last year's to be canceled.
9. CALIFORNIA FARM RECALLS VEGETABLES BELIEVED TO BE SOURCE OF E. COLI OUTBREAK
The onion-celery mix was used in Costco chicken salad that sickened 19 peopled in seven states.
10. PANTHERS PRESERVE PERFECT SEASON
Dallas Cowboys quarterback Tony Romo likely re-injured his left collarbone in Carolina's 33-14 win as the Panthers improved to 11-0.
Pictured is the inside of the Pavlovich Ballet School Building, home of the Columbia Classical Ballet, as electrical crews shut off power Monday, in Columbia, S.C. Gerry Melendez/The State/TNS/Landov hide caption
itoggle caption Gerry Melendez/The State/TNS/Landov Pictured is the inside of the Pavlovich Ballet School Building, home of the Columbia Classical Ballet, as electrical crews shut off power Monday, in Columbia, S.C.
Gerry Melendez/The State/TNS/Landov
Among the institutions devastated by the flooding in South Carolina is the home of a ballet company.
Dancers from around the world have come to Columbia to dance in the Columbia Classical Ballet Company, founded more than 20 years ago by Radenko Pavlovich.
Now the company's 32 members have nowhere to rehearse or take classes. Their building, renovated just this summer, has been completely destroyed.
During the flooding, water reached up to the ceiling of the studio. Costumes and music scores were ruined.
Pavlovich says he's in shock. "The entire building needs to be gutted. They're demolishing everything inside because the whole building is contaminated. They found snakes. Because of the bacteria, they have to take everything out," he says.
Wenyu Guo (left) rehearsed with Nations Wilkes-Davis last week in the studio prior to the flooding. Courtesy of Columbia Classical Ballet hide caption
itoggle caption Courtesy of Columbia Classical Ballet Wenyu Guo (left) rehearsed with Nations Wilkes-Davis last week in the studio prior to the flooding.
Courtesy of Columbia Classical Ballet
Radenko says he has been told his flood insurance may cover only "about 50 percent and we're talking about a half-a-million-dollar construction."
The Columbia Classical Ballet Company performs for thousands of students throughout South Carolina. The building was also home to the Pavlovich Dance School. Many of its dancers, such as Washington Ballet soloist Brooklyn Mack, have gone on to perform with professional companies. Radenko says Mack has stepped in to help lead a fundraising campaign.
"What I want to tell you, which is amazing, is, this morning a majority of our dancers came to try and help save the stuff, the music, anything that was salvageable, costumes," says Radenko. "It shows you a company is like a family."
They have performances scheduled in less than two weeks.