The 2,000th

On Monday, President Obama and Vice-President Biden attended an event at the Department of Transportation marking the 2,000th approved project under the American Recovery and Reinvestment Act:

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Castro praises Obama for easing restrictions

Former Cuban leader Fidel Castro on Tuesday praised the President Barack Obama for lifting U.S. restrictions on travel and sending money to Cuba.

"The measure of easing the restrictions on trips is positive although minimal. Many others are needed," Castro wrote on a Cuban government website.

"We do not have the slightest desire to harm Obama," Castro said. "He doesn't have responsibility for what occurred and I'm sure he won't commit the atrocities of (former President George W.) Bush."

guardian.co.uk

Castro says Obama steps positive

Reuters - ?1 hour ago? By Jeff Franks HAVANA (Reuters) - Former Cuban leader Fidel Castro on Tuesday praised the Obama administration for lifting US restrictions on family travel to Cuba, but said more changes were needed in US policy towards the island. Cuba travel changes split old, new exiles MiamiHerald.com Open for business guardian.co.uk

Paul Kekai Manansala is a freelance author and blogger from Sacramento, California.

 

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President Obama Economic Speech at Georgetown: "A
New Foundation"

In Georgetown this morning, President Obama gave a major speech on the progress that has been made so far with the administration's efforts to address the economic crisis, as well as his underlying vision for a long-term recovery. This speech was, in the President's words, a chance to discuss "what we've done, why we've done it, and what we have left to do."

I want to update you on the progress we've made, and be honest about the pitfalls that may lie ahead. And most of all, I want every American to know that each action we take and each policy we pursue is driven by a larger vision of America's future - a future where sustained economic growth creates good jobs and rising incomes; a future where prosperity is fueled not by excessive debt, reckless speculation, and fleeing profit, but is instead built by skilled, productive workers; by sound investments that will spread opportunity at home and allow this nation to lead the world in the technologies, innovations, and discoveries that will shape the 21st century. That is the America I see. That is the future I know we can have.

...All of these actions - the Recovery Act, the bank capitalization program, the housing plan, the strengthening of the non-bank credit market, the auto plan, and our work at the G20 - have been necessary pieces of the recovery puzzle. They have been designed to increase aggregate demand, get credit flowing again to families and businesses, and help them ride out the storm. And taken together, these actions are starting to generate signs of economic progress. Because of our recovery plan, schools and police departments have cancelled planned layoffs. Clean energy companies and construction companies are re-hiring workers to build everything from energy efficient windows to new roads and highways. Our housing plan has helped lead to a spike in the number of homeowners who are taking advantage of historically-low mortgage rates by refinancing, which is like putting a $2,000 tax cut in your in pocket. Our program to support the market for auto loans and student loans has started to unfreeze this market and securitize more of this lending in the last few weeks. And small businesses are seeing a jump in loan activity for the first time in months.

This is all welcome and encouraging news, but it does not mean that hard times are over.  2009 will continue to be a difficult year for America's economy. The severity of this recession will cause more job loss, more foreclosures, and more pain before it ends. The market will continue to rise and fall. Credit is still not flowing nearly as easily as it should. The process for restructuring AIG and the auto companies will involve difficult and sometimes unpopular choices. All of this means that there is much more work to be done. And all of this means that you can continue to expect an unrelenting, unyielding, day-by-day effort from this administration to fight for economic recovery on all fronts.

...It is simply not sustainable to have a 21st century financial system that is governed by 20th century rules and regulations that allowed the recklessness of a few to threaten the entire economy. It is not sustainable to have an economy where in one year, 40% of our corporate profits came from a financial sector that was based too much on inflated home prices, maxed out credit cards, overleveraged banks and overvalued assets; or an economy where the incomes of the top 1% have skyrocketed while the typical working household has seen their income decline by nearly $2,000.

For as some were chasing ever-bigger bonuses and short-term profits over the last decade, we continued to neglect the long-term threats to our prosperity: the crushing burden that the rising cost of health care is placing on families and businesses; the failure of our education system to prepare our workers for a new age; the progress that other nations are making on clean energy industries and technologies while we remain addicted to foreign oil; the growing debt that we're passing on to our children. And even after we emerge from the current recession, these challenges will still represent major obstacles that stand in the way of our success in the 21st century.

There is a parable at the end of the Sermon on the Mount that tells the story of two men. The first built his house on a pile of sand, and it was destroyed as soon as the storm hit. But the second is known as the wise man, for when "...the rain descended, and the floods came, and the winds blew, and beat upon that house...it fell not: for it was founded upon a rock."

We cannot rebuild this economy on the same pile of sand. We must build our house upon a rock. We must lay a new foundation for growth and prosperity - a foundation that will move us from an era of borrow and spend to one where we save and invest; where we consume less at home and send more exports abroad.

...There is no doubt that times are still tough. By no means are we out of the woods just yet. But from where we stand, for the very first time, we are beginning to see glimmers of hope. And beyond that, way off in the distance, we can see a vision of an America's future that is far different than our troubled economic past. It's an America teeming with new industry and commerce; humming with new energy and discoveries that light the world once more. A place where anyone from anywhere with a good idea or the will to work can live the dream they've heard so much about.

Read the President's full remarks, as prepared for delivery . . .

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President Obama to Deliver Major Economic Speech
LIVE at 11:30 AM EST

This morning, President Obama will be at Georgetown University to deliver a major speech on the economy, outlining how each step his administration has taken to confront the economic crisis fits within the broader vision of moving the economy from recession to recovery and ultimately to prosperity. The President's speech is scheduled to begin at 11:30 AM EST. We'll have more from Georgetown shortly.

UPDATED: You can watch a live stream of the event below:

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President Obama to Deliver Major Economic Speech
at 11:30 AM EST

This morning, President Obama will be at Georgetown University to deliver a major speech on the economy, outlining how each step his administration has taken to confront the economic crisis fits within the broader vision of moving the economy from recession to recovery and ultimately to prosperity. The President's speech is scheduled to begin at 11:30 AM EST. We'll have more from Georgetown shortly.

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Grapes of Wrath, a Classic for Today

The Grapes of Wrath, published exactly 70 years ago, can be seen as a prophetic novel - rooted in the tragedies of the Great Depression, but speaking directly to the harsh realities of 2009, writes Steinbeck scholar Robert DeMott.

Steinbeck's epic novel, which traces the harrowing exodus of Tom Joad and his family from blighted Oklahoma (where they are evicted from their farm), across the rugged American south-west via Highway 66, and on to what they mistakenly hope will be a more promising future in California, is considered by many readers to be the quintessential Depression-era story, and an ironic reversal of the rags-to-riches tale favoured by many optimistic Americans.

Seventy years ago, on April 14, 1939, The Viking Press in New York officially published John Steinbeck's searing novel The Grapes of Wrath. It was released on the fourth anniversary of Black Sunday, when the worst dust storm in recent American history had rolled across the Great Plains blotting out the sun and later depositing airborne topsoil 1,000 miles east in Washington DC.

Steinbeck thought his novel was too raw for wide general appeal: "I've done my damndest to rip a reader's nerves to rags," he told his editor in early 1939. But despite its unflinching detail, gritty language, and controversial reception (the American Library Association includes it among the 100 most frequently banned and/or challenged books), the Grapes of Wrath has attained classic status and appears on many best novels lists.

The Grapes of Wrath treats as a national epidemic the wave of widespread foreclosure, uprootedness, migration and homelessness caused by the double whammy of cataclysmic environmental and economic disasters.

The thirties was a decade of staggering unemployment in America - as high as 25% in 1933, and still hovering around 19% in 1938, the year in which Steinbeck set The Grapes of Wrath.

Steinbeck was not reticent about assigning part of the blame for the catastrophic conditions on the "Bank," the "Company," and the "State"; that is, to faceless, bloodless corporate, institutional, and bureaucratic organisations, so that his novel has an extremely hard, angry edge, though it offers no practical answers for a populace displaced by the shift from agricultural to industrial economies.

Steinbeck's partisanship was aided and abetted by his anger over the deplorable conditions under which migrant workers and their families (estimated to be as high as 300,000) lived and laboured once they reached the end of their diaspora in California, his home state.

What goes around comes around. For emotional urgency, evocative power, and sustained impact The Grapes of Wrath has few peers in American fiction. Seven decades later it has never been out of print and still sells by the carload.

To become a classic, it is often thought that a book needs to transcend its contemporary origins and remain untouched by subsequent history. But it is more accurate to think that a book becomes a classic precisely because it keeps being informed by the most recent historical developments. A literary classic speaks directly to readers' concerns in successive historical and cultural eras.

Dustbowl farm
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In this sense then, The Grapes of Wrath is a prophetic novel, rooted in the economic and environmental tragedies of the Great Depression, but speaking just as directly to the harsh realities of our own time.

At this moment of global economic meltdown, when the whole world is gripped by severe financial recession (much of it caused by rapacious greed, fiscal malfeasance, and corporate arrogance), when groups around the globe are in migration from one kind of tyranny or another, when the gap between rich and poor seems insurmountable, and when homelessness and dispossession caused by widespread financial failure and mortgage foreclosure is rapidly rising in the US and elsewhere - symbolised by shantytowns and tent cities on the outskirts of major metropolitan areas - then it is fitting to think of The Grapes of Wrath as our contemporary narrative, our 21st Century jeremiad.

The characters of Ma and Tom Joad have been etched into popular culture

But Steinbeck's impact does not end there. Throughout his career - well into the 1960s - Steinbeck was a writer with a remarkably acute conscience and a deep respect for common sense morality.

He carried on a kind of lover's quarrel with America, and warned against runaway materialism, institutional imperialism, intellectual hypocrisy, and rampant greed - all inevitable and regrettable by-products of an advanced industrialised capitalist society.

"If I wanted to destroy a nation," he wrote in 1966, "I would give it too much and I would have it on its knees, miserable, greedy and sick."

It is impossible to know how Steinbeck would have reacted to our current malaise, fuelled in part by unbridled financial speculation and lax governmental oversight, but it is tempting to think, given the outcome, he might have said, "I told you so."

Robert DeMott is Professor of American Literature at Ohio University and a former director of the Steinbeck Research Center at San Jose State University in California.

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