Obama seeks to snag U.S. economy to Asian growth

With Europe slowed down in crisis, President Barack Obama is launching a charm offensive this week to hitch the U.S. economy to growth opportunities in Asia that he hopes can help power the recovery he needs for re-election.

Obama, who was born in Hawaii and spent part of his childhood in Indonesia, will host Asian leaders including Chinese President Hu Jintao and Japanese Prime Minister Yoshihiko Noda in Honolulu this weekend to seek to developed trade ties across the Pacific.

He will then travel to Australia to announce plans to boost the U.S. military presence in the region and will be the first American president to attend the East Asia Summit in Bali. There, he will heap attention on the Philippines, Thailand, Malaysia and Indonesia as well as India.

The campaign to cozy up to Asian powers large and small comes at a critical moment for the U.S. economy, whose recovery is at risk because of a spiraling debt crisis in Europe that dominated a G-20 leaders' summit in France last week.

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Obama's economic plans faring better in Europe

After spending less than 36 hours in Europe last week for a G-20 meeting of world economic leaders, President Obama may wish he could run on his record for re-election here rather than back home.

The stalled U.S. economy, his biggest political burden, is doing just fine by today's European standards. His actions in 2009 to stimulate the economy administer bank bailouts and regulate financial institutions, attacked by Republican opponents, were the subjects of tutorials for European leaders who increasingly must follow his lead.

And his national security record — a full Iraq pullout, the slower planned exodus from Afghanistan, the successful military operation in Libya and especially the killing of terrorists led by Osama bin Laden — is appreciated.

"We need the leadership of Barack Obama," French President Nicolas Sarkozy gushed just hours after the U.S. president's arrival here. "He is much loved and much liked here in France."

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U.S. Economy Growing Slowly - President Obama

Reacting to the October jobs report, President Obama said this morning to reporters at the G-20 summit that the U.S. economy was growing “way too slowly” and that he expected the latest job figures would force Congress to act on portions of his American Jobs Act.

“My hope is that the folks back home, including those in the United States Senate and the House of Representatives, when they look at today’s job numbers, which were positive but indicate once again that the economy’s growing way too slow, that they think twice before they vote no again on the only proposal out there right now that independent economists say would actually make a dent in unemployment right now,” Obama said at a press conference.

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U.S. Dollar turn down Euro Strengthens

The dollar turn down against most major peers on speculation reports this week pointing to a faltering U.S. economy will urge the central bank to consider more asset purchases, or quantitative easing, to support growth.

The dollar slid versus the euro before Federal Reserve policy makers end a two-day meeting today. The euro strengthened after Greece’s Cabinet backed Prime Minister George Papandreou’s plan to put a bailout package to a referendum and before the region’s leaders meet to stem the debt crisis. It pared gains after the European Financial Stability Facility was said to postpone a bond sale.

The U.S. currency weakened 0.5 percent to $1.3765 per euro as of 10:05 a.m. London time, after gaining 3.5 percent over the past three days. The dollar slid 0.4 percent to 78.06 yen. The euro was little changed at 107.44 yen.

The Stoxx Europe 600 Index dropped 0.5 percent, extending the biggest three-day decline in almost two months. German bonds fell, with the 10-year yield rising four basis points to 1.80 percent.

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Spectrum is the solution to American jobs

Spectrum could help boost the U.S. economy. Spectrum is the invisible infrastructure that is used to transmit everything from radio and cell phone signals to the Wi-Fi network in your home. Making more of it available could help boost the U.S. economy.

As Congress convenes to consider President Obama's American Jobs Act, there is one proposal that super committee members should not ignore that would reduce our national debt, ignite job creation and strengthen America's global competitiveness: voluntary incentive auctions.

Participation in these auctions would be completely voluntary, and current license holders would receive a share of the proceeds in return for making their spectrum available for more efficient uses like mobile broadband innovation. Voluntary incentive auctions could net the federal government upwards of $30 billion, much of which could be used to reduce the shortage. Consumer benefits of re purposing spectrum to new uses are even greater, at an astounding $300 billion.

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President Barack Obama: U.S. economy is weak

President Barack Obama said before the last day of his jobs bill bus tour that,” the U.S. economy is weak and "we're still going through difficult circumstances".

"I guarantee it's going to be a close election because the economy is not where it wants to be," Obama told the ABC News program "Nightline" on Day 2 of his three-day bus tour through North Carolina and Virginia to drum up support for his $447 billion American Jobs Act -- now broken into its component parts after the Senate defeated the overall bill Oct. 11 by refusing to let it come up for a vote.

Obama said, "and even though I believe all the choices we've made have been the right ones, we're still going through difficult circumstances”.

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US employers likely added few jobs in September

The U.S. economy will likely show its fifth straight month of slight or no job making when the Government Issue its September employment report Friday another weak month would underscore the slowness of the economy and the risk of another recession.

Economists predict that employers added just 56,000 net jobs in September that isn't enough even to keep pace with people growth or minor the unemployment rate the rate is expected to remain at 9.1 percent for a third straight month, according to a survey of economists by FactSet.

The faltering economy has led many employers to decrease hiring the economy grew at an annual rate of just 0.9 percent in the first six months of the year since then, Europe's debt crisis and stock market decline have sensitive fears that the economy will move violently to grow enough to avoid a recession.

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Obama 2012 campaign breaks goal, records

The campaign to re-elect President Barack Obama thought on Wednesday it raised $86 million from April to June, exceeding its $60 million quarterly goal and eclipsing Republican White House contenders.

Obama's 2012 campaign said it received donations from additional than 552,000 people, with what it called "more grassroots hold at this point in the process than any campaign in political history."

In keeping with Obama's 2008 winning strategy of tapping little donations, 98 percent of donations in the second quarter were $250 or less, by means of an average donation of around $69, campaign manager Jim Messina thought in a video to supporters.The figures confirm that Obama, a Democrat who raised a record $745 million in cash throughout 2008, has started the 2012 race as the cash leader despite doubts about the U.S. economy and criticism from some fellow Democrats that he has slanted to the right in U.S. debt talks.

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