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POLITICAL ECONOMY
Obama renews appeals for passage of jobs bill
by Staff Writers
On Board Uss Carl Vinson (AFP) Nov 12, 2011


US President Barack Obama on Saturday renewed his appeal to Congress to pass a plan aimed at creating new jobs, saying military veterans returning to civilian life must be able to find work.

In his radio and Internet address timed to Veterans Day that was celebrated in the United States on Friday, Obama noted that more than 850,000 veterans of the armed forces currently remain unemployed.

"We ask these men and women to leave their families and their jobs and risk their lives to fight for our country," the president said."The last thing they should have to do is fight for a job when they get home."

The comments came as Obama's $447 billion proposal aimed at reviving economic growth and curbing nine-percent unemployment remained stalemated in Congress.

The White House has touted the jobs bill as a shot-in-the-arm for the economy, and accused Republicans of playing politics by blocking it.

But Republicans, aiming to deprive Obama of a second White House term, branded the jobs bill a repeat of failed policies of splashing out government money to create jobs.

Obama vowed to keep pushing lawmakers toward passage of the measure.

"And just as you fought for us, we're going to keep fighting for you -- for more jobs, for more security, for the opportunity to keep your families strong and America competitive in the 21st century," he said.

On Friday, Obama set off on a nine-day Pacific tour that will highlight America's economic destiny in Asia and reveal its sharpening jousts with China.

Obama is set to host the Asia Pacific Economic Cooperation (APEC) forum in Hawaii, will celebrate 60 years of security ties with Australia and make the first visit by a US president to the East Asia summit, set for Bali next week.

The president broke his journey to Hawaii in San Diego, where he sat courtside at a unique college basketball game on the deck of the USS Carl Vinson, the aircraft carrier from where Al-Qaeda founder Osama bin Laden was dispatched to his underwater grave.

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Much-needed global 'rebalancing' stuck: IMF
Washington (AFP) Nov 11, 2011
A much-needed global rebalancing of demand to propel economic recovery is "stuck in midstream," according to an International Monetary Fund report released Friday. In the report prepared for the November 3-4 G20 summit in Cannes, the IMF said that two important shifts necessary to restore global sustainable economic growth and strengthen the financial system were not moving ahead. The fi ... read more


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