The White House

Office of the Press Secretary

For Immediate Release
November 26, 2012

Statement by President Obama on the Departure of SEC Chairman Mary Schapiro

Today, the President issued the following statement on the announcement by Mary Schapiro, the Chairman of the Securities and Exchange Commission, that she will be leaving her post.  The President also announced that he intends to designate Elisse Walter, a current Commissioner, as Chair upon Ms. Schapiro’s departure next month.

President Obama said, "I want to express my deep gratitude to Mary Schapiro for her steadfast leadership at the Securities and Exchange Commission. When Mary agreed to serve nearly four years ago, she was fully aware of the difficulties facing the SEC and our economy as a whole. But she accepted the challenge, and today, the SEC is stronger and our financial system is safer and better able to serve the American people – thanks in large part to Mary's hard work.

"I am also pleased to designate Elisse Walter as SEC Chairman after Mary's departure. I'm confident that Elisse's years of experience will serve her well in her new position, and I'm grateful she has agreed to help lead the agency."

The White House

Office of the Press Secretary

For Immediate Release
November 26, 2012

On Cyber Monday the White House Releases New Report on the Impact of Middle-Class Tax Cuts on Retailers and Consumer Spending

 

Report Details Consequences if Congress Fails to Extend Middle-Class Tax Cuts
 

WASHINGTON, DC – As we move into the holiday shopping season, the White House released a report from the National Economic Council and the Council of Economic Advisers called The Middle-Class Tax Cuts’ Impact on Consumer Spending and Retailers. This report provides new analysis on the impact to retailers and consumer spending if Congress fails to act to avoid taxes going up on 98 percent of Americans at the end of the year. 

This report is embargoed until 6am ET. The link to the full report can be found HERE.
 
The President believes Democrats and Republicans should come together to renew middle-class tax cuts so families and businesses have more certainty at this critical time for our economy.  If Congress acts, every American will get a tax break on their first $250,000 of income, and income taxes won’t go up for 98 percent of American families and 97 percent of small businesses. The President believes we must take a balanced approach to reduce our deficit, that’s why he has laid out a $4 trillion deficit reduction plan that asks the wealthy to pay a little more and preserves the investments we need to grow the economy.  The President has already signed $1.1 trillion in spending cuts and he looks forward to working with Democrats and Republicans on a balanced approach to further reduce our deficit. This is an important moment not just to avoid the fiscal cliff—but to lay the groundwork for an economy that will support a healthy middle class, restore economic certainty, and lead to long-term job growth.
 
If Congress doesn't act, middle-class families will see their income taxes go up on January 1st. The typical middle-class family will see their taxes go up by $2,200 next year, negatively impacting businesses and retailers across the nation.  The President has called on Congress to take action and stop holding the middle class and our economy hostage over a disagreement on tax cuts for households with incomes over $250,000 per year.

Summary of White House Report: The Middle-Class Tax Cuts’ Impact on Consumer Spending and Retailers

President Obama is committed to growing our economy from the middle out by ensuring a strong, secure, and thriving middle-class.  That’s why his top priority is promoting jobs and growth while reducing our deficit in a balanced and responsible way.

Since taking office, President Obama has repeatedly cut taxes for middle-class families to make it easier for them to make ends meet.  A typical family making $50,000 a year has received tax cuts totaling $3,600 over the past four years – more if it was putting a child through college.

Now we face a deadline that requires action on jobs, taxes and deficits by the end of the year. If Congress fails to act, every American family’s taxes will automatically go up - including the 98 percent of Americans who make less than $250,000 a year and the 97 percent of small businesses that earn less than $250,000 a year.  A typical middle-class family of four would see its taxes rise by $2,200.

While the President is committed to working with Congress to reach compromises on areas of disagreement, there is no reason to delay acting where everyone agrees: extending tax cuts for the middle-class. There is no reason to hold the middle-class hostage while we debate tax cuts for the highest income earners.

Our economy can’t afford that right now. New analysis by the President’s Council of Economic Advisers (CEA) finds that:

  • Allowing the middle-class tax rates to rise and failing to patch the Alternative Minimum Tax (AMT) could cut the growth of real consumer spending by 1.7 percentage points in 2013.  This sharp rise in middle-class taxes and the resulting decline in consumption could slow the growth of real GDP by 1.4 percentage points, which is consistent with recently published estimates from the Congressional Budget Office. 
     
  • Faced with these tax hikes, the CEA estimates that consumers could spend nearly $200 billion less than they otherwise would have in 2013 just because of higher taxes.  This reduction of $200 billion is approximately four times the total amount that 226 million shoppers spent on Black Friday weekend last year.  As Figure 5 shows, this $200 billion reduction would likely be spread across all areas of consumer spending.

American consumers are the bedrock of our economy, driving more than two-thirds of the overall rise in real GDP over 13 consecutive quarters of economic recovery since the middle of 2009.  And as we approach the holiday season, which accounts for close to one-fifth of industry sales, retailers can’t afford the threat of tax increases on middle-class families.

President Obama and Congressional Democrats have proposed to extend all the income tax cuts that benefit families who make less than $250,000 per year.

The President has called on Congress to act now on extending all income tax cuts for 98 percent of American families and not to hold the middle-class and our economy hostage over a disagreement on tax cuts for households with incomes over $250,000 per year. The Senate has passed this bill and the President is ready to sign it.

 

The White House

Office of the Vice President

For Immediate Release
November 25, 2012

Statement by Vice President Biden on the Anniversary of the International Day for the Elimination of Violence Against Women

 

Millions of women and girls around the globe face violence in their homes and neighborhoods, their schools and workplaces, refugee camps and conflict zones.  We have made progress in addressing this violence, and our Administration has taken unprecedented steps to advance the status of women and girls worldwide.  But for far too many women the daily threat of violence persists.  Ending this problem requires the concerted effort of the international community, civil society, and the many unsung heroes who work tirelessly to stop violence against women in their own communities.  On this International Day for the Elimination of Violence Against Women, we reaffirm our commitment to women and girls who suffer from violence.  We believe that no country can move forward unless women and girls have the opportunity to achieve their full potential, and we pledge to stand together in building a world where everyone can pursue their dreams without living in fear.

The White House

Office of the Press Secretary

For Immediate Release
November 23, 2012

Statement by the Press Secretary on the Sierra Leone Election

 

The United States congratulates President Ernest Bai Koroma and the people of Sierra Leone after a successful election on November 17.  With an estimated 2.4 million votes cast representing 87 percent of the country’s diverse electorate, the people of Sierra Leone have made their voices heard.  This election demonstrates the progress that Sierra Leone has made in strengthening its democratic institutions since the end of the civil war in 2002.  The United States encourages all parties to accept the results as representing the will of Sierra Leone’s people, and to resolve any outstanding grievances through Sierra Leone’s judiciary.

The White House

Office of the Press Secretary

For Immediate Release
November 21, 2012

Notice: Waiver from Rescission of Unobligated Funds Under The American Recovery and Reinvestment Act of 2009

NOTICE

- - - - - - -

WAIVER FROM RESCISSION OF UNOBLIGATED FUNDS UNDER

THE AMERICAN RECOVERY AND REINVESTMENT ACT OF 2009

Consistent with the authority provided to me under the American Recovery and Reinvestment Act of 2009 (Public Law 111-5), as amended by section 1306 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Public Law 111-203) (the "Dodd-Frank Act"), I have determined that it is not in the best interest of the Nation to rescind after December 31, 2012, the unobligated amounts made available in Division A of the American Recovery and Reinvestment Act with respect to the accounts with the following Treasury Account Fund Symbol codes and names: 13-0110: DOC - Office of the Inspector General; 86-0190: HUD - Office of Inspector General; 69-0131: DOT - Office of Inspector General; 20-0135: TREAS - Treasury Inspector General for Tax Administration; 49-0301: NSF - Office of the Inspector General; and 73-0201: SBA - Office of Inspector General.

My determination is based on the following considerations:

The requesting Inspectors General are tasked with overseeing investigations that can take multiple years to complete, and the oversight work often begins in earnest during the final phases of a project. In some cases, the awards that the Inspectors General oversee will continue to outlay past December 31, 2012. The $11.5 million unobligated balance will allow Inspectors General the needed flexibility to effectively combat waste, fraud, and abuse.

Therefore, in accordance with section 1306 of the Dodd-Frank Act, I am waiving the requirements for repayment of unobligated funds made available in the American Recovery and Reinvestment Act with respect to the accounts described above.

This notice shall be published in the Federal Register.

BARACK OBAMA

The White House

Office of the Press Secretary

For Immediate Release
November 21, 2012

Readout of the President’s call with President Morsi

 

President Obama spoke to President Morsi today. The President thanked President Morsi for his efforts to achieve a sustainable ceasefire and for his personal leadership in negotiating a ceasefire proposal.  President Morsi expressed appreciation for President Obama’s efforts in this regard. 

President Obama and President Morsi agreed on the importance of working toward a more durable solution to the situation in Gaza.

President Obama reaffirmed the close partnership between the United States and Egypt, and welcomed President Morsi's commitment to regional security.  

The White House

Office of the Press Secretary

For Immediate Release
November 21, 2012

Readout of the President’s Call to Prime Minister Netanyahu

 

President Obama spoke to Prime Minister Netanyahu today and reiterated his commitment to Israel’s security.
 
The President made clear that no country can be expected to tolerate rocket attacks against civilians.
 
The President expressed his appreciation for the Prime Minister’s efforts to work with the new Egyptian government to achieve a sustainable ceasefire and a more durable solution to this problem.
 
The President commended the Prime Minister for agreeing to the Egyptian ceasefire proposal – which the President recommended the Prime Minster do – while reiterating that Israel maintains the right to defend itself.
 
The President said that the United States would use the opportunity offered by a ceasefire to intensify efforts to help Israel address its security needs, especially the issue of the smuggling of weapons and explosives into Gaza.
 
The President said that he was committed to seeking additional funding for Iron Dome and other US-Israel missile defense programs.
 

The White House

Office of the Press Secretary

For Immediate Release
November 21, 2012

Background on the Pardoning of the National Thanksgiving Turkey

 

WASHINGTON – On Wednesday, November 21, 2012, President Obama will pardon the National Thanksgiving Turkey in a ceremony in the Rose Garden.  The President will celebrate the 65th anniversary of the National Thanksgiving Turkey presentation, reflect upon the time-honored traditions of Thanksgiving, and wish American families a warm, safe, and healthy holiday.

The President will pardon Cobbler and his alternate Gobbler, both 19-week old, 40-pound turkeys. The names of the turkeys were chosen from submissions from elementary schools in Rockingham County, Virginia, where the turkeys were raised.  Many of the submissions came from schools in agriculture-producing areas, where students have the chance to learn about the importance of agriculture to the world food supply and to our local economies.  This year, for the first time ever, the American public decided which of the two turkeys – Cobbler or Gobbler – would become the 2012 National Thanksgiving Turkey by casting a vote via the White House Facebook page.

After the pardoning, the turkeys will be driven to George Washington’s Mount Vernon Estate and Gardens.  The National Thanksgiving Turkey will be on display for visitors during “Christmas at Mount Vernon,” a special program through January 6.  After the holidays, the National Thanksgiving Turkey and its alternate will live in a custom-made enclosure at Mount Vernon’s nationally recognized livestock facility.

Both birds were raised on the farm of Craig and Nancy Miller, near Harrisonburg, Virginia, under National Turkey Federation Chairman, Steve Willardsen’s supervision and in partnership with the Virginia Poultry Federation.  Dr. Bob Evans, also of Cargill, handled the turkey during the Rose Garden ceremony.  

Jaindl’s Turkey Farm in Orefield, Pennsylvania, gave President Obama’s family two dressed turkeys that will be donated to a local area food bank.

The White House

Office of the Press Secretary

For Immediate Release
November 21, 2012

Statement by the Press Secretary on the Terrorist Attack in Tel Aviv

 

The United States condemns today’s terrorist attack on a bus in Tel Aviv.  Our thoughts and prayers are with the families of those injured, and with the people of Israel.  These attacks against innocent Israeli civilians are outrageous.  The United States will stand with our Israeli allies, and provide whatever assistance is necessary to identify and bring to justice the perpetrators of this attack.  The United States reaffirms our unshakeable commitment to Israel’s security and our deep friendship and solidarity with the Israeli people.  

The White House

Office of the Press Secretary

For Immediate Release
November 21, 2012

Fact Sheet: East Asia Summit Outcomes

President Obama attended the East Asia Summit (EAS) on November 20 in Phnom Penh, Cambodia, as part of the Administration’s continued focus on rebalancing its engagement in Asia to reflect the economic and strategic importance of this dynamic region.  As an Asia-Pacific power the United States’ economic and security future is inextricably linked to the region, and President Obama used the summit to explore with other Asia-Pacific leaders ways to enhance cooperation on the region’s most pressing challenges, including energy, maritime security, non-proliferation, and humanitarian assistance and disaster response.  The President made clear that full and active U.S. engagement in the region’s multilateral architecture helps to reinforce the system of rules, norms, and responsibilities, including respect for universal human rights and fundamental freedoms, that are essential to regional peace, stability, and prosperity.

The EAS is the region’s premier forum for Asia-Pacific leaders to discuss pressing political and strategic issues.  The EAS was launched in 2005 in Kuala Lumpur, Malaysia, bringing together leaders of the 10 member states of the Association of Southeast Asian Nations (ASEAN) and six other Asia-Pacific region countries.  With the participation of the United States and Russia for the first time in 2011, the EAS now includes all the major regional powers, including U.S. treaty allies Japan, the Republic of Korea, Australia, Thailand, and the Philippines, as well as India and China.

Energy Cooperation:  Economic and population growth are fueling energy demand, making energy security an increasingly important issue in the Asia-Pacific region.  To address this shared concern, President Obama announced the U.S.-Asia Pacific Comprehensive Partnership for a Sustainable Energy Future.  This White House initiative will bring together in a comprehensive framework U.S. energy-related cooperation in multilateral and bilateral channels, focusing on providing technical assistance and financing for renewables, energy interconnectivity and markets, natural gas, and sustainable development.  By leveraging U.S. private-sector engagement, technical expertise, and financing, in partnership with Brunei, Indonesia, and other regional leaders, this initiative will tangibly enhance energy security in the Asia-Pacific, setting the path for sustainable development for the 21st century. 

See U.S.-Asia Pacific Comprehensive Partnership for a Sustainable Energy Future Fact Sheet

Maritime Security:  EAS members are linked by the region’s maritime spaces, which have enabled the region’s dynamic economic growth and facilitated greater connectivity.  Maritime security is a priority issue for EAS countries that recognize that challenges including territorial and maritime disputes, piracy, trafficking in illicit materials, and natural disasters can threaten regional peace, stability, and prosperity.  President Obama reaffirmed U.S. national interests in the maintenance of peace and stability, respect for international law, unimpeded lawful commerce, and freedom of navigation.  President Obama encouraged the parties to make progress on a binding Code of Conduct in the South China Sea to provide a framework to prevent conflict, manage incidents when they occur, and help resolve disputes.

The United States has consistently worked with its partners in the Asia-Pacific region to build capacity and promote cooperation on maritime security issues.

• At the EAS, President Obama announced the U.S. intention to accede to the Regional Cooperation Agreement on Combating Piracy and Armed Robbery Against Ships in Asia (RECAAP), the first government-to-government agreement to promote and enhance cooperation against piracy and armed robbery in Asia.

• President Obama affirmed that the Expanded ASEAN Seafarers Training (EAST) program, which he announced at the U.S.-ASEAN Leaders Meeting, will be open to participation by all EAS members.

• The United States welcomed the creation of the Expanded ASEAN Maritime Forum to provide a platform for coordination among EAS countries on a range of maritime issues including marine environment, resource management, piracy, and capacity building.

Non-Proliferation:  Noting the acute proliferation challenges facing the Asia-Pacific region, President Obama has called on regional leaders to work together and take steps to ensure that the world’s most dangerous weapons do not fall into the most dangerous hands.  The United States welcomes positive steps made by EAS member states and regional forums toward improving regional cooperation on nonproliferation.  These include:

• Thailand’s endorsement of the Proliferation Security Initiative, a global effort that aims to stop trafficking of weapons of mass destruction, their delivery systems, and related materials to and from states and non-state actors of proliferation concern.

• Vietnam’s ratification of the International Atomic Energy Agency (IAEA) Additional Protocol, which contains measures that increase the IAEA’s ability to verify the non-diversion of declared nuclear material and to provide assurances as to the absence of undeclared nuclear material and activities in a State.

• Japan, Australia, New Zealand, the Republic of Korea and Indonesia contributing to the Peaceful Uses Initiative, a five-year campaign announced by Secretary Clinton in 2010 to increase support for the IAEA’s peaceful uses programs.

• The ASEAN Regional Forum (ARF) adoption of its first-ever work plan on Nonproliferation and Disarmament, calling for specific workshops and capacity-building projects on nonproliferation, the peaceful use of nuclear energy, and disarmament. 

President Obama welcomed these developments while acknowledging that much work still remains to be done to counter the spread of weapons of mass destruction and their means of delivery in the region.  He called on leaders to:

• Reaffirm their support for the denuclearization of the Korean Peninsula in order to maintain peace and stability in the region.

• Reaffirm countries’ commitment to the international nonproliferation regime, stressing the importance of full compliance with our obligations under all UN Security Council Resolutions addressing nonproliferation, particularly those addressing Iran and North Korea.

• Support the outcomes of the 2012 Nuclear Security Summit held in Seoul to secure nuclear materials and prevent nuclear terrorism.

• Promote transparency and cooperation on safe, secure and peaceful nuclear development in the region, including through implementation of IAEA safeguards and universalizing of the Additional Protocol.

• Promote international bio-security cooperation and advance the outcomes from the Final Document of the 2011 Review Conference of the Biological Weapons Convention.

Humanitarian Assistance and Disaster Relief:  The Asia-Pacific experienced major disasters with devastating impacts in 2011, accounting for 80 percent of global economic losses to disasters.  Humanitarian assistance and disaster relief is a core agenda item of the EAS.  The United States has a strong record of working with EAS member countries in disaster preparedness and institutional strengthening, and of bringing a unique set of capabilities, skills, and expertise in humanitarian assistance and disaster relief.

• Since 1995, the United States has invested more than $95 million in disaster risk reduction efforts in the region.  This year, the United States provided an additional $22.7 million for disaster risk reduction programs which save lives at the time of disasters.

• President Obama welcomed the support by EAS Leaders for the Rapid Disaster Response (RDR) agreement.  The RDR can significantly increase the ability for states to provide and receive swift and effective support in the event of future natural disasters in the region, as well as provide a framework for closer links between regional disaster response authorities.

• The President welcomed efforts to expand participation in regional humanitarian assistance and disaster relief (HADR) exercises, including the BALIKATAN U.S.-Philippine exercise that welcomed international participants for the first time this year.  The United States also committed to join partner nations next year for the third ARF Disaster Relief Exercise co-hosted by Thailand and South Korea and the inaugural ASEAN-led, ADMM-Plus HADR and Military-Medicine Exercise hosted by Brunei.

Health:  While technological progress has dramatically increased the movement of people, products, and ideas throughout the Asia-Pacific, it has also facilitated the spread of infectious diseases, some with pandemic potential.  The United States has a history of partnering with countries in Asia to support the health and well-being of the region.  U.S. efforts are premised on building local capacity to improve the regional response to health issues and relying less on outside assistance.

• President Obama was joined by the other EAS leaders in supporting Australia’s Declaration on Drug-Resistant Malaria.

• The United States is partnering with Thailand, a regional leader in malaria control, to fight drug resistant malaria in the region.  The two-year, $680,000 agreement will support the Thai Ministry of Public Health’s efforts to strengthen malaria control and surveillance, particularly among migrant populations along its borders with Burma and Cambodia where drug-resistant malaria is most prevalent.

• The United States partnered with Singapore under the U.S.-Singapore Third Country Training Program (TCTP) to co-sponsor a Combating Counterfeit Health Products training course in August.

• U.S. participation in activities like the Lower Mekong Initiative (LMI) helps drive regional cooperation to build more effective regional disease responses and facilitate health exchanges.  USAID’s Pandemic Influenza and other Emerging Pandemic Threats programs support domestic efforts and cross-border collaboration in line with the goals of the LMI at approximately $12.5 million per year.