As the global economic recession is believed to have finally met its end, the United States economy has grown at its fastest pace in the fourth quarter of 2009 as most businesses aggressively boosted their spending and held on to their inventories longer. This growth in the country’s Gross Domestic Product or GDP has pleasantly surprised many economists.

The growth was also seen as a positive sign that the economy is headed in the right direction and is moving towards sustainable growth before the government stimulus budget dry out. On Friday, January 29, 2010, the US Commerce Department revealed that the GDP expanded at a 5.7% annual rate. It was a good and strong ending for 2009, which saw the US economy shrink by 2.4%, its worst recession since after the Second World War.

According to Stuart Hoffman of the PNC Financial Services Group based in Pittsburgh, the information shows that the change from government stimulus to private sector is important for the country’s economic expansion.

The growth is primarily a result of many companies significantly lowering their inventory turnover, which is still not the way that many observers would have wanted the growth to occur. Many analysts wanted an upsurge in demand, but several of them still think that the news is very good for the country.

Getting the economy stable again after being rocked by the worst recession since the Great Depression has been one of the main agenda points for the Obama administration since he took over the White House in January of 2009. In his first State of the Union Address, President Obama again stressed the administration’s efforts in creating jobs and further nurturing the US economy.

As a result of this positive news, US stocks rallied in the opening of the stock markets, but dwindled and struggled at the end with the news of credit troubles in Europe greatly affecting the market surge. Despite this, the US dollar rose against other major currencies upon closing on Friday.

The government released its job report for January on Friday, February 5th 2010.

For the fourth month in a row, the US manufacturing sector has inevitably shown signs of growth. Although the progress is at a rather slower pace, the manufacturing sector has definitely shown signs of slight recovery from last year’s recession.

The housing market has also shown signs of improvement despite having overspent on construction in October. The Institute of Supply Management has recently made a report about its national factory activity index. For the month of October, the Institute of Supply Improvement has reported a 53.6 decrease in the index of national factory activity. Reuters has surveyed a number of economists and an average of 70 has predicted an activity index of 55.0 for November. According to these experts, an index of 50 or above indicates an expansion in the manufacturing sector while those that go below 50 indicates contraction.

According to the chairman of the ISM manufacturing business survey in Georgia, Norbert Ore, the Institute of Supply Management has been through four months of weak recovery. According to him, it would take some time before the improvement spreads to 18 manufacturing industries.

However, the report made by the ISM was rather unexpected according to Tom Sowanick, the chief investment officer for the Omnivest Group in New Jersey. He says that although the report was unexpected, the figures were still strong when added to the earlier monthly levels that went above 50. In addition to that, Tom Sowanick has added that the China ISM has also experienced an increase in its index. This, according to him, signifies a global recovery.

On the other hand, the ISM employment index for the manufacturing industry was reported to have decreased from 53.1 in October to 50.8 in November. So far, the change has been the strongest since 1996.

No it’s not the opening of the next Harry Potter movie. Instead it was a political figure that excited fans today.

The Associated Press is reporting that hundreds of people lined up to for a chance to get former Alaska Gov. Sarah Palin to sign a copy of her new book, “Going Rogue: An American Life,” in Grand Rapids, Mich.

The article reports that some people even waited overnight to be among the first in line at a Barnes and Noble store at the Woodland Mall. Palin was there for a three-hour signing as part of her book promotion tour.

The book was released officially on Tuesday, Nov. 17.

Palin appeared on The Oprah Winfrey Show Monday, Nov. 16 where she skirted questions about a possible presidential bid in 2012 and also said she was not to blame for the Republican Party’s loss in the 2008 election.

In Oprah’s interview with Palin, the former vice presidential candidate talks about her daughter’s teenage pregnancy, her experience on the campaign trail, her decision to resign as governor of Alaska and, of course, her new book.

Watch a clip from the show:

The Food and Drug Administration (FDA) said last week that it told about 30 manufacturers of alcoholic drinks that contain caffeine they would have to prove the beverages are safe for consumption.

“The increasing popularity of consumption of caffeinated alcoholic beverages by college students and reports of potential health and safety issues necessitates that we look seriously at the scientific evidence as soon as possible,” said Dr. Joshua Sharfstein, principal deputy commissioner of food and drugs, in a statement.

Of the combined use of caffeine and alcohol among U.S. college students in the few studies on this topic, the prevalence was as high as 26 percent, according to the FDA.

If the manufacturers cannot prove the safety of their products, the FDA threatened to remove the items from marketplace shelves promptly.

The drinks typically combine malt liquor or another type alcoholic drink with caffeine and fruit juices. These can be up to 10 percent of alcohol concentrations.

The FDA alerted manufacturers to the fact that the agency is considering whether caffeine can lawfully be added to alcoholic beverages. The agency said it is unaware of the basis upon which manufacturers may have concluded that the use of caffeine in alcoholic beverages is “generally recognized as safe” or prior sanctioned.

To date, the FDA has only approved caffeine as an additive for use in soft drinks in concentrations of no greater than 200 parts per million. It has not approved caffeine for use at any level in alcoholic beverages.

The companies warned have 30 days to produce evidence, with supporting data and information, to conclude that the use of caffeine in their products is safe.

In late September, the FDA received a letter from 18 Attorneys General and one city attorney expressing concerns about caffeinated alcoholic beverages.

According to the official White House blog, President Barack Obama and First Lady Michelle Obama travelled to Killeen, Texas on Veteran’s Day where they met with families of the fallen soldiers from the Fort Hood tragedy that occurred Nov. 5.

Here are some excerpts from the President’s speech.

“We come together filled with sorrow for the thirteen Americans that we have lost; with gratitude for the lives that they led; and with a determination to honor them through the work we carry on.

This is a time of war. And yet these Americans did not die on a foreign field of battle. They were killed here, on American soil, in the heart of this great American community. It is this fact that makes the tragedy even more painful and even more incomprehensible.

For those families who have lost a loved one, no words can fill the void that has been left. We knew these men and women as soldiers and caregivers. You knew them as mothers and fathers; sons and daughters; sisters and brothers.

But here is what you must also know: your loved ones endure through the life of our nation. Their memory will be honored in the places they lived and by the people they touched. Their life’s work is our security, and the freedom that we too often take for granted. Every evening that the sun sets on a tranquil town; every dawn that a flag is unfurled; every moment that an American enjoys life, liberty and the pursuit of happiness – that is their legacy.

Neither this country – nor the values that we were founded upon – could exist without men and women like these thirteen Americans. And that is why we must pay tribute to their stories.”

Photos from the event can be found here. Watch the speech here.

Vice President Joe Biden released the following statement after the Nov. 5 attack.

“Jill and I join the President and Michelle in expressing our sympathies to the families of the brave soldiers who fell today. We are all praying for those who were wounded and hoping for their full and speedy recovery. Our thoughts and prayers are also with the entire Fort Hood community as they deal with this senseless tragedy.”

Unemployment has hit 10.2 percent in the United States, according to an article in the New York Times.

This is the highest it has been in 26 years.

The United States Labor Department reported on Friday, Nov. 6 that another 190,000 jobs were lost in October.

In the United States, one out of every 10 people of the workforce are unemployed.

While economists say things are getting better, employers will likely still be wary to hire for at least into the middle of next year and perhaps longer.

According to the article, Republicans speculate that increased joblessness is a result of the Obama administration’s $787 billion stimulus package aimed at jump-starting the economy. At the same time, some Democrats are calling for another round of spending to help create more jobs.

An economist commenting on National Public Radio this week, said the unemployment rate is really more like 16 percent when you include people who are unemployed that have not filed for unemployment or who are “underemployed:” those who wish to work full-time but can only get part-time work.

“People are hurting, but if you can get past the sticker shock of the unemployment rate and look at the guts of the report, they are still very consistent with a recovery,” said Michael T. Darda, chief economist at the research and trading firm MKM Partners in the New York Times. “We’re getting very close to the peak unemployment rate.”

Military psychiatrist Maj. Nidal Malik Hasan, 39, shot and killed 13 people on Nov. 5 News at Fort Hood, Texas and injured 31 others.

After being first reported dead as a result of gunfire with an officer, Hasan is unconscious and hospitalized, NPR is reporting.

It was first believed that at least three people were involved in the shooting, but police now say there was only one, Hasan.

Hasan, a U.S.-born Muslim, was a psychiatrist at Walter Reed Army Medical Center for six years before being sent to Texas in July. Reports say he was upset about an upcoming deployment overseas.

Fort Hood, located near Killeen, Texas with about 40,000 troops, is home to the Army’s 1st Cavalry Division and elements of the 4th Infantry Division, as well as the 3rd Armored Cavalry Regiment and the 13th Corps Support Command.

Despite repeated calls from the international community to reinstate ousted Honduras President Manuel Zelaya, coup leaders have remained defiant, even announcing its withdrawal from the Organization of American States (OAS).

The June 28 Honduras coup which ousted President Manual Zelaya triggered international condemnation. The United Nations have called upon the OAS to “take a leadership role to find the peaceful solution to that issue whereby the constitutional order can be restored.”

In the United States, there are mixed reactions from observers and political analysts, some insisting that the U.S. support the coup while some hinting that the U.S. is playing neutral and has no serious intention of resolving the impasse.

Honduras military officials responsible for the coup claims it based its actions on a Supreme Court ruling nullifying Zelaya’s plans for an extended term through constitutional change.

Roberto Micheletti, the speaker of Congress, replaced him as interim President.

John Thomson of the National Review Online insists that the U.S. should support the coup, arguing that Zelaya’s comeback would only be a victory for Hugo Chavez, whom the deposed leader supports. Thomson views the Honduran crisis as “a battle between democracy and leftist autocrats who have manipulated themselves into permanent power in their countries and want to add Honduras to the list.”

Barry Grey and Rafael Azul of Global Research claim that the U.S. is taking a neutral position on Honduras despite its public condemnation of the coup. They opined that after an unsuccessful attempt to back attempts to unseat Chavez several years back, the U.S. could not publicly support the coup, but it was well aware of it. It also observed that the official US line post the coup was that “it attempted unsuccessfully to convince the Honduran military not to proceed with the coup, amounting to a tacit acknowledgment that Washington was well aware of the coup plans.”

Presently, the Honduras crisis is at a stalemate.

During a White House gathering of representatives of nonprofit programs all around the U.S., President Barack Obama praised grassroots organizations for a job well done and vowed governmental support for their efforts.

“Solutions to America’s challenges are being developed every day at the grassroots. And government shouldn’t be supplanting those efforts, it should be supporting those efforts,” Obama told over 100 members of the nonprofit community.

Obama made these remarks after the project presentations of four nonprofits – Bonnie CLAC (Car Loans and Counseling), a New Hampshire organization that helps people own fuel-efficient, reliable and low-cost vehicles; Harlem Children’s Zone, which helps children acquire a good education; Genesys Works, a Houston-based nonprofit that trains and assists low-income high school students get entry-level work in major corporations; and HopeLab, a California program that helps chronically ill young people.

Obama called on big business, foundations and philanthropists to become involved in what he calls a “new kind of partnership between government and the nonprofit sector.”

“If we work together, if we go all-in here, think about the difference we can make,” the President added.

He pledged his administration’s support for grassroots initiatives, citing two examples that have already been included in the economic stimulus package: the $650-million “What Works” fund launched by the Education Department that will be invested in high schools and communities; and a new project by the Health and Human Services Department that will send nurses and health care professionals to provide services to troubled homes.

Mr. Obama has recently signed into law a $50-million Social Innovation Fund which is managed by the Corporation for National and Community Service. This fund will provide financial support to community nonprofit organizations. He announced that White House officials, led by domestic policy adviser Melody Barnes, will comb the country in search of the “the most promising nonprofits in America” that will be awarded grants.

Finance analysts recommend bank stocks as the smart play investors should make a move on. Ever since the U.S. Treasury Department ordered stress tests in May, the banking industry has accumulated a total of $16 billion in equity, which places them in a more stable position to deal with expected surge in commercial real estate-related losses.

Last month, bank stocks were among the highest gainers. Bank of America shares rose 9.9% to $11.73. JPMorgan Chase & Co. shares gained 6.7% to $37.26. Shares of Citigroup Inc. also rose 16 cents to $3.64. State Street shares gained 8.5% or $3.28, raising it to $41.79.

According to Richard Green of the Lusk Center for Real Estate at the University of Southern California, the latest surge in bank valuations are enticing but they are not without risk. The challenge for investors is to distinguish which names are most likely to rebound.

Banking analyst Anthony Polini of Raymond James (RJF) sees Bank of America as one of three banks to prevail and benefit from slow growth until 2010. Together with JPMorgan Chase and Wells Fargo, the three banks combined control a third of consumer bank deposits in the U.S. With slow economic growth, borrowing rates will remain low. Weaker banks who face capital deficiencies will give these three banks pricing power to charge higher interests on new loans.

With recession recovery moving at a slow pace, Green observes that banks need to prepare for the imminent problem that will come down as commercial real estate loans mature in the next two or three years. He estimates the amount to be at $350 billion.

This aside, Standard & Poor’s Erik Oja cautions weary investors that “if they wait to see commercial loan default rates or losses peak before putting money into bank stocks, they will probably miss the boat on some good opportunities.”

In a round table discussion of more than a dozen prominent American CEOs last November 2008, it became eminent that the recession has made a clean sweep through even the top tier companies.

Fred Smith of FedEx was one of the most vocal about how big a reality this crisis is. John Byrne, BusinessWeek.com’s Editor-in-chief, asked Smith how tight of a knot the economy is in right now. As the FedEx CEO replied, considering his extensive 35 years in the industry, this would considerably be the worst he has seen.

Smith goes on to describe how traffic across the Pacific has been crashing for quite a while already. All retailers had to do a double take as well, he points out. This claim is proven by how even some of FedEx’s high-end retailers experienced a sales downturn by 25%. The only positive spark in the situation is that with low inventory levels, the turn-around when it does happen will be transpire and conclude quickly.

The question of whether FedEx will be able to ride the recession has been raised by many. But as to asking who will lead them through the crisis, there has never been any doubt. Frederick W. Smith, founder and CEO of Federal Express, continues to serve as the beacon of light for his entire corporation. Ever since its establishment on June 18, 1971, the company and its leader have become synonymous with service. This is made evident by its consistent ranking as one of the top 10 on Fortune Magazine’s World’s Most Admired Companies and on the exclusive America’s Most Admired Companies list, year after year. His business acumen, resiliency and indomitable spirit are captured best in one of the most well-known anecdotes in business history.

When Smith reportedly turned in his paper that presented the business idea of FedEx, his Yale professor gave him a “C” because of feasibility issues. Undeterred, Smith went on to build his empire after his service with the U.S. Marine Corps. FedEx became the first overnight delivery company in the world. Fred Smith virtually revolutionized the industry. Today, FedEx remains the largest overnight delivery company in the U.S. It provides jobs to around 275,000 employees and earns over $32 billion in revenue.

Official site of Federal Express.

Fortune magazine has a video of Fred Smith’s ”Recession Proof Plan” for Fedex.

Fedex cuts CEO pay, freezes hiring.

On Jan. 23, 2009, Geron Corporation was granted clearance by the Food and Drug Administration (FDA) to start its human clinical trial of GRNOPC1, a human embryonic stem cell (hESC)-based therapy for the treatment of acute spinal cord injury. This trial is said to be the first in the world.

Geron Corporation considers this development as one of its most significant accomplishments so far because through this, they are now able to conduct the world’s first federally approved study of hESC-based therapy for humans. If successful, this will be a major milestone not just for the company but also for the fields of embryonic stem cell research and medical therapeutics.

According to Geron Corporation president and CEO Dr. Thomas Okarma, the clearance of the GRNOPC1 trial serves as a gateway to a new level of healing wherein restoration of organs and tissues is achieved through the injection of healthy replacement cells. Dr. Thomas Okarma added that the goal for the use of GRNOPC1 is “to achieve restoration of spinal cord function by the injection of hESC-derived oligodendrocyte progenitor cells directly into the lesion site of the patient’s spinal cord.”

The initial phase I study will focus on the safety of the cell therapy, although researchers will also try to find signs whether the therapy works. The company has selected seven medical centers to participate in the trial, with the study subject to approval from their internal review boards.

Geron Corporation is an American biotechnology company that specializes in the development of biopharmaceuticals designed to treat cancer and chronic degenerative ailments including heart failure, diabetes, and spinal cord injury. Headquartered in Melo Park, California, Geron Corporation was founded by Dr. Michael D. West. It was incorporated in 1990 and began its operations in 1992. Geron Corporation is considered to be the leading embryonic stem cell developer in the world as it holds exclusive rights on several cell types. Since its incorporation, Geron Corporation has been granted more than 260 patents.

The corporation also helped fund the researchers at the University of Wisconsin when human embryonic stem cells were first isolated in 1998.

Geron Corporation has subsidiaries, namely: Geron Bio-Med Limited, which is wholly owned and located in Edinburgh, Scotland; and TA Therapeutics, Limited in Hong Kong, which is majority-owned.

Geron Corporation is centered on the creation of drugs based on telomere and stem cell research. Geron Corporation is currently advancing an anti-cancer drug (GRN163L) that inhibits the enzyme telomerase. Geron Corporation is also conducting multiple trials at Duke University Medical Center in its efforts to develop a telomerase vaccine (GRNVAC1) for the treatment of prostate cancer in patients. Additionally, Geron Corporation is developing cell-based therapeutics derived from human embryonic stem cells (hESC) to treat different health conditions associated with cell aging, injury, and degenerative diseases. Moreover, Geron Corporation is engaged in the initial development of telomerase-based treatment for HIV named TAT0002 and taken from Astragalus plant.

Due to Geron Corporation’s advancement in telomerase drugs, the pharmaceutical company Merck invested considerably in the biotechnology corporation in 2005.

• Official site of Genron Corporation.
• Forbes profile of Dr. Thomas B. Okarma.
• The National Institute of Health offers some basic facts on stem cell research.

On Jan. 24, 2009, the politics section of FoxNews.com released a report that outlined several pieces of the plan laid down by U.S. President Barack Obama in his commitment to revive the nation’s struggling economy.

Taking a look into the current U.S. economic situation, 1 in 10 homeowners are at risk of foreclosure; manufacturing is at a 28-year low; and the value of the dollar is on a downward slope. Another devastating fact is that the nation lost 2.6 million jobs in 2008, the highest amount in any single year since World War II. President Barack Obama’s economists also speculate that unemployment could reach 10% before the recession stops.

In the hope of helping President Barack Obama reverse the economic slide and fulfill his campaign pledges, the Democratic leaders in the House of Representatives earlier proposed an $825 billion economic stimulus package that includes spending and tax cuts. On Friday, January 23, 2009, President Barack Obama met with lawmakers, Republican and Democratic alike, urging them to support the stimulus package. Citing details from an article by the Associated Press, the pending economic stimulus package will combine approximately $550 billion in federal spending and $275 billion in tax cuts. Energy-related proposals would include over $20 billion in tax cuts and $32 billion to upgrade the electrical distribution system.

President Barack Obama also made sure that voters would comprehend the rationale behind his economic plan, thus early on Saturday, January 24, 2009, the White House released President Barack Obama’s 5-minute address over the radio and Internet. According to President Barack Obama, his economic plan will double the nation’s renewable energy capacity within three years, increase security at 90 ports, and add 3,000 miles of electrical lines. President Barack Obama stressed that “a bad situation could become dramatically worse” if actions would not be taken boldly and swiftly. Additionally, in his manner of setting realistic expectations, President Barack Obama reminded the audience that results would not happen instantly.

In addition, President Barack Obama’s economic team released a report that sketched out the benefits of the plan and thus bolster support. Some pieces of the plan will include:

* Shifting to electronic medical records and investing in preventive health
care by providing health care coverage for 8.5 million Americans.
* Increasing the federal portion of Medicaid and children’s health insurance so
that state would no longer need to turn away any of the 20 million children.
* Creating 3 to 4 million jobs over the next years.
* Upgrading 10,000 schools and advancing learning among 5 million students.
* Tripling the number of undergraduate and graduate fellowships in science.
* Saving $2 billion each year through making federal buildings energy-
efficient.
* Doubling the amount of energy generated from renewable resources within three years.

Based on the plan, at least 75% or over $600 billion will be used up within the first 18 months, injecting a huge amount of money to support either infrastructure projects as proposed by Democrats or tax cuts preferred by Republicans.

A report from Reuters released on Jan. 22, 2009 states that gasoline prices have climbed for three consecutive weeks now, rising 6.3 cents per gallon.

According to the federal Energy Information Administration, the average national price for regular unleaded gasoline is $1.85 per gallon. This is said to be the highest since November 24; however, this figure was down $1.17 a year earlier.

Based on the agency’s weekly survey, gasoline price was at its highest on the West Coast jumping 7.5 cents at $2.02 per gallon since the last half of January. San Francisco had the highest city price at $2.06, up 4.9 cents while Los Angeles was at $2.04, up 7.6 cents.

The Rocky Mountain States had the lowest regional price at $1.61 per gallon, which was up 4.4 cents. (At $1.61 a gallon, Denver had the lowest city pump cost but also suffered an increase of 7.9 cents.) Gas prices in other states seemed to soar as well. Miami was at $1.97 per gallon, up 9.6 cents while New York City was at $1.78 per gallon, up 4.7 cents. Chicago was at $2.01 a gallon, up 4.5 cents while Cleveland was at $1.91 per gallon, down 0.6 cent. Boston was at $1.74, up 5.5 cents.

According to a Boston Globe report dated January 24, 2009, data obtained from AAA Southern New England and the Department of Energy Resources have revealed that the gasoline price in Massachusetts now averages at $1.75 per gallon, up 12 cents in the past two weeks.

Meanwhile, diesel prices seemed to have swerved to the opposite direction when the average price for diesel dropped 1.8 cents at $2.30 per gallon, which was down 97 cents from the previous year. The Gulf Coast region had the least expensive diesel which went down 1.7 cents at $2.23, while the New England states had the most costly diesel at $2.61 a gallon, down 0.8 cent.

The government explained that the price jump is due to higher crude oil costs. (Note that crude oil price usually determines the price of gasoline.) However, in an article from Boston Globe, Arthur Kinsman, spokesman for AAA Southern New England, stated that crude oil prices have stayed low in general, despite the recent fluctuations that can be seen on the New York Mercantile Exchange. With this said, the relatively low crude oil price in the world market does not seem to match with the current rising trend of gasoline prices in the nation. A

n article from Times News confirms this scenario as it illustrates the situation in Tennessee, wherein despite the low demand for gasoline and the moderate gains in crude oil prices, gasoline prices still continue to increase; an unlikely trend as mentioned by Don Lindsey, spokesman for the AAA East Tennessee.

Still in the same article from Boston Globe, it was reported that crude oil price rose to $2.80, up 6.4%, following reports regarding plans to cut production from the Organization of Petroleum Exporting Countries (OPEC).

On June 21, 2009, the Senate confirmed Hillary Rodham Clinton as the 67th United States Secretary of State. It was the first day in office for President Barack Obama and while he was busy engaging himself in several affairs, Hillary Clinton’s nomination for the post as Secretary of State was finally confirmed in the full Senate by a vote of 94-2.

The two senators who opposed the confirmation were Republicans David Vitter of Louisiana and Jim DeMint of South Carolina. Prior to the confirmation, hearings before the Senate Foreign Relations Committee commenced on January 13, 2009. By January 15, the said body voted 16-1 to approve Hillary Clinton.

Both Republicans and Democrats in general share the same sentiment that such prompt confirmation was essential for the new president to be able to start with his work in dealing with the current major and critical foreign policy issues such as Iran’s nuclear threats and the increasing violence in the Middle East, particularly the wars in Gaza and Iraq.

As a result of the confirmation from the Senate, Hillary Clinton was sworn in as the 67th U.S. Secretary of State in her office, which is located in the Russell Senate Office Building. Present at the private ceremony was her husband, former President Bill Clinton, and her Senate staff. On the same day, Hillary Clinton resigned from the Senate, submitting her resignation letters to Vice President Joe Biden, president of the Senate; and New York Governor David Paterson.

A few Republicans expressed their concerns over conflicts of interest that may arise considering that the fundraising efforts for Bill Clinton’s foundation included donations overseas. Nevertheless, both parties in Congress greatly supported Hillary Clinton for the post.

Hillary Rodham Clinton was born on October 26, 1947 in Chicago, Illinois. She attended Maine East High School and then entered Wellesley College from where she graduated in 1969 with a B.A. degree in political science with departmental honors. Hillary Clinton then obtained her Juris Doctor degree from Yale Law School in 1973. Back in Yale, she served on the editorial board of the Yale Law Review and Social Action, worked for the Yale Child Study Center, interned with Marian Wright Edelman, and met Bill Clinton, whom she married in 1975.

Following graduation, Hillary Clinton practiced law, working as a staff attorney for the Children’s Defense Fund in Cambridge, Massachusetts and as Consultant to the Carnegie Council on Children. She also joined in the impeachment inquiry staff advising the House Committee on the Judiciary during the Watergate scandal. In 1975, she taught at the University of Arkansas Law School and then joined the Rose Law Firm in 1976. In 1978, President Jimmy Carter appointed her to the board of the Legal Services Corporation. She held the title “First Lady of Arkansas” for twelve years (1979–1981, 1983–1992) when her husband Bill Clinton became governor of the said state twice. Hillary Clinton was First Lady of the United States from 1993 to 2001; she then served as a U.S. Senator from 2001 to 2009. Hillary Clinton was a leading candidate for the Democratic presidential nomination in the 2008 election but lost to Obama.

• Official State Department biography of Secretary Hillary Rodham Clinton.
• Secretrary Hillary Clinton faces a tough job in securing Mideast peace process.
• Hillary Clinton criticizes George W. Bush on North Korea policy.

An article from USA Today presented a full account of Barack Obama’s first day as the 44th President of the United States of America.

In the face of an ongoing recession, wars in Iraq and Gaza, the threat of terrorism, and at this desperate time when America has duly entrusted its fate to this man, Barack Obama is sending a clear message that there is certainly no time to waste. Barack Obama’s first day as president was indeed a chock-full of must-dos reflecting his commitment of bringing change to America.

*January 21, 2009, Wednesday, 8:35 a.m. – Newly inaugurated President Barack Obama walked into the Oval Office and spent 10 minutes alone to contemplate. He read a personal note left behind by his predecessor, George W. Bush. The note was placed inside an envelope inscribed with “To: #44, From: #43.” White House staff, however, did not disclose its content. The note was a presidential tradition that started when Ronald Reagan left a note for George H.W. Bush.

After a quiet moment alone, President Barack Obama was ready for a full day of carrying out his presidential duties.

*Morning Service and Open House. The President, along with his wife Michelle, attended the National Prayer Service, a tradition following the Inauguration Day that started when George Washington took office. The couple was seated in front, joined by Vice President Joe Biden and his wife, Jill, as well as former President Bill Clinton and Hillary Clinton. In the afternoon, the first couple greeted 200 selected guests, in their effort of making White House accessible to the public.

*Executive Orders. President Barack Obama signed several executive orders in his first day of office. One was to freeze the salaries of around 100 White House staff members who make $100,000 a year or more, for the duration of the financial crisis. The President also imposed strict ethics rules such as banning lobbyists from giving gifts to any member of his administration, and staff members being barred from becoming lobbyists for two years after leaving his administration. President Barack Obama also issued another executive order to promote transparency by limiting the ability of past presidents to obstruct the release of records of their administrations. He also had his aides disseminate a draft executive order that would close the Guantanamo Bay detention center in Cuba within a year as well as suspend military trials of terror suspects who have been held in the said facility, pending a review of the military tribunals. On January 22, 2009, President Barack Obama signed the executive order that would close the said prison.

*Middle East Diplomacy. President Barack Obama called four Middle East leaders from Israel, Jordan, Egypt, and the Palestinian Authority, and informed them that his administration will address serious peace issues among Israelis, Palestinians, and Arabs. President Barack Obama also expressed his commitment to prevent arms smuggling to Hamas fighters and to help in the reconstruction effort for Palestinians in Gaza. The President then met with his military advisors over the issue of Iraq, reiterating his intention to withdraw combat troops from Iraq in 16 months.

• Official White House biography of President Barack Obama
• Article about Barack Obama’s years at the Harvard Law Review.
• A current anaylsis of the President’s economic stimulus package.

President Barack Obama’s $787 billion stimulus package, approved by Congress and signed by the president into law on Feb. 17, 2009, includes federal funding for research and development – a reason for Bay Area research universities to celebrate.

The stimulus plan is said to allocate $21.5 billion for federal research and development to be invested within two years, for which most of the support will be directed to climate research, biomedical matters, and energy. This funding is the realization of President Barack Obama’s promise of restoring science to its rightful place.

After years of sluggish funding for basic research in various sciences, local research universities in Bay Area, San Francisco acknowledged that the financial aid coming from the stimulus plan would bolster education, research, and future businesses. Bay Area research universities, principally Stanford University and the University of California-Santa Cruz, stated that they are the leading candidates for funding, based on their notable track record for research grants secured. They added that several under-funded projects have suffered in the recent years.

The government has been funding majority of scientific research except for studies on some specific diseases and embryonic stem cells. However, funding has been sluggish and inadequate over the years and a number of labs were forced to stop their work and close. One concrete example is the gravity reference sensor project of Stanford University that could have been utilized by future space missions. The project lost funding and had to be stopped. Another example is Stanford chemistry department chairman Richard Zare’s research project involving the creation and destruction of chemical bonds, whose progress had slowed down since he could not secure federal funding for six months in 2007.

With the funding on hand, a brighter future awaits the world of science, especially since these local research institutions will be able to use the money on renovation of facilities, equipment, financial aid, new construction, research support, and new technological advancements in local laboratories. According to Bruce Margon, vice chancellor for research of the University of California-Santa Cruz, the research university is recognized in the 21st century to be “just as important as the steel mill to the economic strength of our country.”

Research and development funding included in the stimulus plan consists of $140 million for the U.S. Geological Survey for natural science research and $1.3 billion for facility renovation and purchase of equipment. In addition, it also allocates $1 billion for the National Aeronautics and Space Administration; $1.6 billion for Department of Energy’s Office of Science; $3 billion for the National Science Foundation for fundamental science and engineering research; and $8.2 billion to the National Institutes of Health for biomedical research.

Related Sources:

An MSNBC article features President Barack Obama’s signing of the economic
stimulus package into a law.

Stanford University is featured in an article in The Time Herald.

The New York Times features details of the final economic stimulus package
passed by Congress.

A Feb. 18, 2009 article from Reuters reveals President Barack Obama’s plan to solve America’s housing crisis as a part of his serious initiative to revive the nation’s economy. The President pledged up to $275 billion as assistance to at least nine million American families. These families will be given the chance to restructure or refinance their mortgages to avert foreclosures.

The home mortgage crisis is a major factor in the economic meltdown. Numerous American homeowners are burdened with home mortgages they are unable to pay, subjecting their homes to foreclosure. In fact, according to the Mortgage Bankers Association, just over 9% of all home loans in the United States were in arrears or in foreclosure at the end of 2008. Moreover, Credit Suisse reported that 16% of all households with mortgages could end up facing foreclosure by 2012 – that is equivalent to a total of 8.1 million homes in the United States.

In a speech addressed to an attentive audience in Mesa, Arizona, President Barack Obama articulated the interconnection of the housing crisis, the financial crisis, and the even broader economic crisis.

Another article, this one from The New York Times, revealed that the housing plan comprises three parts. The first component seeks to aid homeowners who are up-to-date on their payments but are paying high interest rates and have no way of refinancing due to insufficient equity in their homes.

The second part would provide incentives to lenders who would change the loan terms to make them affordable for the straining borrowers, thus helping around four million people who are at risk of foreclosure. To make this possible, a $75 billion program will be created to subsidize loan modifications that allow a reduction of the household’s monthly payment to as low as 31% of the family’s gross monthly income.

The last part would consist of $200 billion worth of additional financial backing to government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac. Fannie Mae was created to buy mortgages from approved mortgage sellers, securitize them, and sell the resulting mortgage-backed security to investors in the secondary mortgage market with a guarantee that principal and interest payments are appropriately passed over to the investor. Freddie Mac was established to expand the secondary market for mortgages in the United States. Freddie Mac purchases mortgages on the secondary market, pools them, and sells them as mortgage-backed securities to investors on the open market. By buying mortgages, both GSEs provide banking and other institutions ensure that funds are constantly available so buyers can make new loans.

With this plan, as much as five million homeowners who are still making payments but cannot qualify for conventional refinancing will be able to refinance through Fannie Mae and Freddie Mac.

Related Sources:

The Wall Street Journal features an article on the housing bailout plan.
An article from MSNBC features a consumer’s guide to the president’s housing plan.
An article from Reuters features FDIC talking about Obama’s housing plan to have impact in March.

NY Senator Hillary Clinton’s nomination to US Secretary of State, by President-elect Barack Obama, will soon leave the NY Senate Seat open. Recently, Caroline Kennedy expressed interest in taking on the role of a US Senator for the state of New York. Caroline Kennedy is a part of the influential and historical Kennedy Family dynasty. If she is wins, she will have the same senate seat as the late Robert Kennedy, whom was assasinated in 1968, while he was running for the Democratic Presidential nomination.

Her family has long been considered by many to have been America’s version of a Royal family.The American public has been following her trials and tribulations her entire life. Does Caroline Bouvier Kennedy, daughter to the late John F. Kennedy and Jacqueline Bouvier Kennedy Onassis, have what it takes to be the next US Senator for New York?

Caroline Bouvier Kennedy is the eldest surviving daughter of the late President John Fitzgerald Kennedy.  She was just a child when her father was assinated by Lee Harvey Oswald in Dallas, Texas, in 1963.  She spent some of her childhood in the white house and has immediate relatives, whom also had served in public office. Her family and historical connection in US politics are invaluable, though in much respects, Caroline Kennedy has built a family career of her own over the years.

The Radcliffe graduate, worked at the Metropolitan Museum of Art in New York City.  She is also a graduate of Columbia University law school.  She is a member of the bar in New York and Washington D.C.  She is also a member of the Commission of Presidential Debates and the NAACP Legal Defense and Educational Fund. She has a great deal of experience in law, education and politics. She has also contributed a great deal to charitable works, as well. She went on to publish many works in civil liberties.

Caroline Kennedy’s political views include a pro-choice stance, legalization of gay marriages, advocate for gun control and is in favor of restoring the ban on assault weapons.

Caroline Kennedy co-authored the following civil liberties books with Ellen Alderman:

• In Our Defense: The Bill of Rights In Action (1991)
• The Right to Privacy (1995)

Caroline Kennedy edited these New York Times best-selling volumes:

• The Best-Loved Poems of Jacqueline Kennedy Onassis (2001)
• Profiles in Courage for Our Time (2002)
• A Patriot’s Handbook (2003)
• A Family of Poems: My Favorite Poetry for Children (2005)

Caroline Kennedy wrote a collection of poems and prose called A Family Christmas.

Related Political News:

Hillary Rodham Clinton’s nomination to US Secretary of State finalized, as announced in the Huffington Post.

The Washington Post published an editorial by Jamie Gorelick, discussing “A New Agenda For Justice.” Ms. Gorelick provides valuable insight for the new Department of Justice.

The Washington Post published an editorial debating the Caroline Kennedy’s potential seat on the NY Senate.

The Los Angeles Times’ Top of the Ticket for Nov. 21, 2008 reports that Senator Hillary Rodham Clinton has finally decided to accept President-elect Barack Obama’s offer as the United States Secretary of State.

Reports revealed that the senator is giving up her Senate seat in order to prepare for her new role as the country’s top diplomat. Talks between the former first lady and the president-elect have been progressing steadily since Hillary Clinton was first asked to fill in the position in mid-November.

When the Obama administration takes over the White House, Hillary Clinton will become only the 3rd woman in U.S. history to serve as Secretary of State, after Madeleine Albright and Condoleeza Rice.

View the article about Hillary Clinton added to Obama’s Cabinet at Secretary of State.

About Hillary Clinton

The former first lady was born Hillary Diane Rodham on October 26, 1947 in Chicago, Illinois. She was an active student at Maine East High School where she was selected for the National Honor Society. She finished her senior year in high school at Maine South High School as a National Merit Finalist. Hillary completed her Bachelor of Arts in 1969 at Wellesley College with departmental honors in political science. She received her law degree from Yale Law School in 1973.

Before marrying William “Bill” Clinton in 1975, Hillary Clinton worked as staff attorney for the Children’s Defense Fund in Cambridge, Massachusetts; as consultant to the Carnegie Council on Children; as an advisor to the House Committee on the Judiciary during the Watergate scandal; and taught at University of Arkansas’ School of Law where Clinton was also a faculty member.

Prior to becoming first lady of Arkansas, Hillary joined the Rose Law Firm and specialized in patent infringement, intellectual property law, and pro bono in child advocacy.

When Bill Clinton won as Governor of Arkansas in 1978, Hillary became Arkansas’ First Lady. She actively supported her husband via various committees and projects. She took on the same role when Clinton was re-elected in 1982.

Hillary Clinton was the 1st First Lady to have a post-graduate degree when Clinton took on the presidency in 1993. She has been a senator of the United States since 2001. Hillary Clinton ran for the office of United States President in 2008.