Tag Archives: economy

Obama to Visit Amazon at Chattanooga Next Week

Barack Obama will visit Chattanooga on Tuesday for the first time as president to pitch his vision of helping expand middle-class jobs, reports the Chattanooga TFP.
Obama will tour the 1 million-square-foot distribution center Amazon opened in the Enterprise Industrial Park two years ago. The fulfillment center in Chattanooga employs 1,800 full-time workers and is among five facilities Amazon has built in Tennessee since 2011 that collectively have added more than 5,000 full-time and seasonal jobs in the Volunteer State — the biggest job addition in the state by a private company in the past decade.
Obama will use the Amazon expansion to help highlight what he says is an improving economy but one that needs to do more to help boost the middle class.
In a speech Wednesday in Galesburg, Ill., Obama cast himself as the champion for middle-class Americans struggling to make ends meet. He chided Washington for having “taken its eye off the ball” and declared that the economy would be the “highest priority” of his second term.
White House officials said Tuesday’s speech will focus on manufacturing and high wage jobs for durable economic growth. The president is expected to promote his budget proposals to jumpstart private sector jobs with more infrastructure and education spending in the federal budget.
But Republicans object to what they see as too many government regulations and too much deficit spending by the Obama administration, which they say has failed to restore the U.S. economy. Nearly three years after the end of the Great Recession, the U.S. unemployment rate remains at a stubbornly high 7.6 percent.
“President Obama has presided over the worst economic recovery since the Great Depression, so a visit to a right-to-work state like Tennessee to learn a thing or two in how to get things done should be expected,” Tennessee Republican Party Chairman Chris Devaney said. “Thanks to Republicans, we’ve cut taxes, balanced our budget, and have the lowest debt of any state in the union.”

Boost a Chattanoogan’s Economy: Buy a Blank Book for $14.95

Chattanoogan Jimmy Moncrief has published a book entitled “Everything Obama Knows About the Economy.” The pages are all blank.
The Chattanooga TFP Saturday provided a report on this development long enough — with big type — to fill up several of those blank pages. An excerpt:
“I’m not trying to start a revolution,” said Moncrief, who identifies himself as a fiscal conservative without a favorite GOP presidential candidate. “I just want to make people laugh.”
Asked about his inspiration, Moncrief’s credits a similar bit of emptiness from Sheridan Simove, who, ahem, wrote a 200-page bestseller titled, “What Every Man Thinks About Apart From Sex.”
“I remember reading that it sold like 3 million copies,” said Moncrief, a 30-year-old Memphis native who graduated from the University of Tennessee at Chattanooga. “I’m a banker. It’s not some glamorous job, so I wanted to do something fun and also wanted to make money.”
…On Amazon, where Moncrief’s self-published creation is listed as “temporarily out of stock,” buyers can pre-order the book for $14.95.
….”Selling books is a great way to grow the economy,” said Tennessee Democratic Party spokesman Brandon Puttbrese. “It adds to commerce, shipping, transportation and, for this book, garage sales.”
An Amazon reviewer, identifying himself as CheddarPants, went a different route.
“While this book isn’t remotely original, I do have to admit that it was written to perfectly correspond to the reading ability of most people who don’t like President Obama, so I have to give the author credit for knowing his target audience,” CheddarPants wrote
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Haslam on Economy: ‘It’s like somebody threw the brakes on’

Gov. Bill Haslam threw the latest sobering splash of cold water on economic expectations Friday, predicting the state’s economic growth in the next two years will be no better than 3 percent as it struggles to get past the recession, reports Mike Morrow.
I don’t think we’ll see a double-dip recession,” Haslam said. “But I think we’re going to bump along on basically flat growth for the next few months.
“Everything I see says there’s not a whole lot of confidence out there.”
Haslam pointed to two particular factors that have had a negative effect — the new federal health care plan and the recent battle in Washington over the federal debt ceiling.
“I make a point of asking businesses, ‘How’s it going?'” Haslam said. “Up through June, it was pretty good, and our sales tax numbers up through June were good, too. And right about the first of July, it’s like somebody threw the brakes on. I heard that from retailers, distributors, manufacturers, all across the board.”

Note: Sen. Stacey Campfield has deemed Haslam’s remarks “malaise speech”

Haslam to Feds: Go Easy on Auto Fuel Economy Standards

Tennessee’s Bill Haslam is among a group of fifteen governors from around the country asking the EPA and federal transportation officials not to push fuel economy too hard, according to WPLN.
Last week White House officials floated the idea of requiring all new vehicles to get better than 55 miles per gallon by 2025. The group of governors is made up of 14 Republicans and one Democrat, many from states home to major carmakers.
They argue against quote “overreaching regulations,” saying such high standards could drive up car prices, hurting sales and consumers. Tennessee’s auto sector is huge, with thousands of workers for carmakers like Volkswagen and Nissan, as well as thousands more jobs in the parts-supply industry.