Saturday, May 02, 2009

Obama holds Second Cabinet Meeting!

U.S. President Barack Obama spoke to his cabinet at 11:15am on Friday, May 1 at the White House.

Alongside him as usual, Secretary of State Hillary Clinton and Defense Secretary Robert Gates. Also, in attendance was newly sworn in Health Secretary Kathleen Sebelius filling the final vacancy in his cabinet.

The outbreak of the H1N1 virus, a new strain of swine flu, was at the top of the list for discussion during the meeting.

Also, the $8 billion in financing the government will provide Chrysler during its bankruptcy.

The Centers for Disease Control and Prevention said on Thursday that there were 109 confirmed cases of swine flu in the nation. The same day, Homeland Security Sec. Janet Napolitano said in a briefing "prioritized states" are currently receiving antivirals, and Sebelius announced that 400,000 treatment courses were being sent to Mexico, believed to be the origin of the virus.

It was also announced on Thursday that the government would take Chrysler into Chapter 11 protection after a group of the automaker's creditors refused to write down debts "for the prospect of an unjustified taxpayer-funded bailout."

Chrysler had until that day to revise its restructuring plan, but talks between Treasury officials and its lenders until late Wednesday broke down despite a reported $2 billion cash offer from the government to forgive $6.9 billion worth of debts. The United Auto Workers had agreed to concessions to help with the negotiations, such as accepting retiree benefits in the form of company stocks.

This is what Obama said on the Chrysler issue:

"They were hoping that everybody else would make sacrifices, and they would have to make none... I don't stand with them. I stand with Chrysler's employees and their families and communities... I'm supporting Chrysler's plans to use our bankruptcy laws to clear away its remaining obligations so the company can get back on its feet."

1 comment:

stacy said...

Is that a new blue pantsuit?

Post Your Comment Below:

Grab this Widget ~ Blogger Accessories