Round 2 goes to Obama; slams Romney's outsourcing plans

October 17, 2012

obama-romney-debate-round

Washington, October 17: A decidedly more aggressive President Barack Obama went on the offensive right from the word go as he clashed with Republican challenger Mitt Romney over their conflicting visions in their second encounter.

Romney, who by all accounts bested the president in their first encounter two weeks ago to put his campaign on an upswing, in turn used Tuesday night's pivotal second encounter at Hofstra University in Long Island, New York, to recount a litany of Obama's own failings as president.outs

Meeting just three weeks before the Nov 6 presidential poll, the two contenders went at each other often on topics ranging from the economy, taxes and outsourcing to energy, women's rights and immigration in a tension filled exchange.

Coming into his own, Obama did not disappoint his supporters and aides who wanted him to put in a "stronger, more assertive performance" at the second debate after his admittedly bad night at Denver to hand over to his rival an advantage that he had enjoyed for weeks.

Debate watchers were divided on who won Tuesday night's debate with 46 percent in a CNN/ORC International survey saying Obama won the debate, while 39 percent said Romney fared better. The seven-point margin falls within the poll's sampling error.

As many as 73 percent said Obama did better than expected, compared to 37 percent who said the same about Romney.

The results offer a stark contrast from the first presidential showdown Oct 3, when 67 percent of debate watchers said Romney fared better while 25 percent said Obama won the debate.

But how far his aggressive performance would help Obama get back into the game is yet to be seen with most media reports describing the race for the White House as either a virtual tie or Obama's to lose.

A National Poll Average by Real Clear Politics, an influential political news aggregator, show Romney just 0.4 percentage points ahead with 47.4 percent to Obama's 47 percent.

But Obama still enjoys 201 to 191 vote advantage over Romney with 146 votes too close to call in the 538 strong Electoral College. It takes 270 votes to win the White House.

During the town hall format debate, where 82 uncommitted voters picked by Gallup

Organization got to ask the questions, Obama mocked Romney's five-point economic plan saying: "Governor Romney says he's got a five-point plan. Governor Romney doesn't have a five-point plan."

"He has a one-point plan. And that plan is to make sure that folks at the top play by a different set of rules," he said. "That's been his philosophy in the private sector. That's been his philosophy as a governor. And that's been his philosophy as a presidential candidate."

Romney shot back that Obama was "great as a speaker, but his policies don't work."

"That's what this election is all about," Romney said, saying he would prioritise middle class growth. "It's about how we can get the middle class of this country a bright and prosperous future."

The two also clashed over the Sep 11 terrorist attack on the US consulate in Benghazi, Libya that killed four Americans, with Romney suggesting the Obama administration played politics by failing to immediately acknowledge what happened.

Obama shot back that the suggestion anyone in his administration would play politics on such an issue was "offensive". When Obama said he called it a terrorist attack the very next day, Romney challenged him, and Obama responded "check the transcript".

Moderator Candy Crowley, the CNN chief political correspondent, cut in to say both men were right -- Obama called it a terrorist attack when he said he did, but the administration took longer to fully explain what occurred.



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News Network
May 23,2020

Karachi, May 23: Ninety-seven people were killed and two survived when a passenger plane crashed into homes in Pakistan's southern city of Karachi, health officials said Saturday.

The Pakistan International Airlines (PIA) plane had made multiple approaches to land at the city's airport when it came down in a residential area, damaging buildings and sparking a rescue operation that lasted into the night.

All passengers and crew had been accounted for and the bodies of those killed had been recovered from the crash site, the Sindh Health Ministry said, adding that 19 had been identified.

A local hospital earlier reported it had received the bodies of people killed on the ground.

The site remained cordoned off on Saturday morning.

The crash sent plumes of smoke were into the air as rescue workers and residents searched the debris for people and as firefighters tried to extinguish the flames.

An AFP reporter witnessed charred bodies being loaded into ambulances.

PIA said the plane lost contact with air traffic control just after 2:30 pm (0930 GMT) travelling from Lahore to Karachi.

The disaster comes as Pakistanis prepare to celebrate the end of Ramadan and the beginning of Eid al-Fitr, with many travelling back to their homes in cities and villages.

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News Network
April 13,2020

Manila, Apr 13: The Asian Development Bank (ADB) on Monday tripled the size of its response to novel coronavirus disease (COVID-19) pandemic to 20 billion dollars and approved measures to streamline its operations for quicker and more flexible delivery of assistance.

The package expands ADB's 6.5 billion dollars initial response announced on March 18, adding 13.5 billion dollars in resources to help ADB's developing member countries counter the severe macroeconomic and health impacts caused by COVID-19.

The 20 billion dollar package includes about 2.5 billion dollars in concessional and grant resources.

"This pandemic threatens to severely set back economic, social, and development gains in Asia and the Pacific, reverse progress on poverty reduction and throw economies into recession," said ADB President Masatsugu Asakawa.

"Our expanded and comprehensive package of assistance, made possible with the strong support of our board, will be delivered more quickly, flexibly and forcefully to the governments and the private sector in our developing member countries to help them address the urgent challenges in tackling the pandemic and economic downturn," he said in a statement.

ADB's most recent assessment released on April 3 estimates the global impact of the pandemic at between 2.3 and 4.8 per cent of gross domestic product. Regional growth is forecast to decline from 5.2 per cent last year to 2.2 per cent in 2020.

The new package includes the establishment of a COVID-19 pandemic response option under ADB's countercyclical support facility.

Up to 13 billion dollars will be provided through this new option to help governments of developing member countries implement effective countercyclical expenditure programs to mitigate impacts of the COVID-19 pandemic, with a particular focus on the poor and the vulnerable.

Grant resources will continue to be deployed quickly for providing medical and personal protective equipment and supplies from expanded procurement sources.

Some 2 billion dollars from the 20 billion dollar package will be made available for the private sector. Loans and guarantees will be provided to financial institutions to rejuvenate trade and supply chains.

Enhanced microfinance loan and guarantee support and a facility to help liquidity-starved small and medium-sized enterprises, including those run by female entrepreneurs, will be implemented alongside direct financing of companies responding to or impacted by COVID-19.

The response package includes a number of adjustments to policies and business processes that will allow ADB to respond more rapidly and flexibly to the crisis. These include measures to streamline internal business processes, widen the eligibility and scope of various support facilities and make the terms and conditions of lending more tailored.

All support under the expanded package will be provided in close collaboration with international organisations, including the International Monetary Fund, World Bank Group, World Health Organisation, UNICEF, other UN agencies and the broader global community.

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News Network
February 14,2020

London, Feb 14: Five years ago Britain’s new finance minister Rishi Sunak wasn’t even a member of parliament and now he is running the world's fifth largest economy.

The 39-year-old former Goldman Sachs banker was appointed in dramatic fashion on Thursday when incumbent Sajid Javid unexpectedly quit — in a row over advisers — during what Downing Street had cast as a routine ministerial reshuffle.

Sunak is married to the daughter of Infosys co-founder NR Narayana Murthy, and was hand-picked to take over an ultra-safe seat in northern England, previously represented by former Conservative Party leader William Hague. The Murthy family was not reachable for comment.

In July, when he was promoted chief secretary to the Treasury, Murthy had said: “Our advice to our children, including Rishi, has been to work hard, be honest, and do good for society…We wish him well.”

After Thursday’s announcement, Sunak said: “Delighted to be appointed... Lots to get on with.”

Tipped for Promotion

As Boris Johnson moves to increase control of the finance ministry, one of the youngest chancellors in history will face a prime minister who wants to increase government spending on everything from infrastructure and police to health and education.

Sunak, seen as a rising star in the ruling Conservative Party since he entered Parliament in 2015, had been tipped for promotion to a senior post in the ministerial rejig as Johnson put together his post-Brexit cabinet.

But, despite an already rapid ascent through the ranks of government, few expected the Oxford University Politics, Philosophy and Economics graduate to ascend to one of the highest offices in the land.

Sunak had been serving as Javid’s deputy in the finance ministry since Johnson promoted him upon taking office in July 2019. Prior to that he had served as a junior housing minister.

“From working in my mum’s tiny chemist shop to my experience building large businesses, I have seen first-hand how politicians should support free enterprise and innovation to ensure our future prosperity,” Sunak says on his website.

Smooth and loyal

Seen as a smooth media performer and ultra-loyal member of the Conservative Party, Sunak has been used by the government to present and defend their policies in television interviews — a sign of trust from Johnson, who has a fraught relationship with Britain’s media.

Sunak takes control at a critical juncture for Britain’s $2.7 trillion economy. He will have to steer the economy through the turbulence of leaving the European Union and the forging of new trade links that will define Britain’s new relationship with the world.

However, the power struggle that forced his predecessor Javid to quit hints at a more diminished role for what is the second most powerful position in the government — with Johnson’s office wanting to centralise control and minimise dissent.

Sunak is one of the three ministers of Indian origin in Johnson’s cabinet, the other two being Priti Patel and Alok Sharma. Patel remains the interior minister after the cabinet reshuffle while Sharma, a former minister for international development, was appointed the new minister for business. Sunak’s father was a doctor and his mother ran a chemist shop. Before entering politics he worked for Goldman Sachs and a hedge fund, then co-founded an investment firm. He also has an MBA from Stanford University.

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