Middle-class economics works, says Obama

January 21, 2015

Washington, Jan 21: U.S. President Barack Obama said a growing economy, shrinking deficits and booming energy production have raised the U.S. out of the recession. Taking credit for the recovery during his State of the Union address on Tuesday, Mr. Obama said “The verdict is clear. Middle-class economics works.”

obamaMr. Obama said the U.S.' economy's upward trajectory should not only help a few do well but should generate rising incomes for everyone who makes an effort.

The recession technically ended in June 2009, but the ensuing recovery sputtered. Only now is public opinion beginning to acknowledge improvements.

Mr. Obama's speech comes amid numerous signs that the economic recovery is taking hold, including a 5.6 percent unemployment rate, cheap gas and greater consumer confidence.

Calls on Congress to back bipartisan infrastructure plan

President Barack Obama on Tuesday called for the U.S. Congress to pass a bipartisan infrastructure plan to provide modern ports, stronger bridges, faster trains and the fastest Internet connections.

Republicans have made TransCanada Corp's Keystone XL pipeline, which would run from Canada's Alberta oil sands to the U.S. Gulf of Mexico, their first priority of the year.

"Let's set our sights higher than a single oil pipeline," Obama said in his State of the Union address, according to a text released by the White House, saying an infrastructure package could create more than 30 times as many jobs per year.

Mr. Obama also said the anti-Semitism that has resurfaced in certain parts of the world is deplorable and rejected "offensive" stereotypes of Muslims.

Simplifying tax procedures

Mr. Obama called for tax reforms to help small businesses in his State of the Union address on Tuesday, saying simplifying their tax return filing process would help reduce their costs.

"Let's simplify the system and let a small business owner file based on her actual bank statement, instead of the number of accountants she can afford," Obama said.

Mr. Obama also called on Tuesday for new bipartisan fast-track legislation to speed trade agreements through Congress.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
April 23,2020

Geneva, Apr 23: The World Health Organisation (WHO) on Wednesday (local time) said that the COVID-19 crisis will not end any time soon, with several countries only in the initial stages of the fight against the virus.

"Make no mistake, we have a long way to go. Coronavirus will be with us for a long time. There is no question that stay at home orders and other physical distancing measures have successfully suppressed transmission in many countries," WHO chief Tedros Adhanom Ghebreyesus said in a press conference.

"Most countries are in the early stages of their epidemics. And some, which were affected early in the pandemic, are now starting to see a resurgence in the number of cases," he added.

COVID-19 has infected more than 2.6 million people around the world and a total of 1,83,027 people have died due to coronavirus, according to data from US-based Johns Hopkins University.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
Agencies
March 25,2020

Beijing:  Around 5,000 people have signed up for the phase I clinical trial of recombinant novel coronavirus vaccine in Chinese city Wuhan where the virus first emerged late last year.

The recruitment for participants ended this week with nearly 5,000 volunteers signing up for the trial, state-run Beijing News reported on Wednesday.

A single-centre, open and dose-escalation phase I clinical trial for recombinant novel coronavirus vaccine (adenoviral vector) will be tested in healthy adults aged between 18 and 60 years, according to the ChiCTR (China Clinical Trial Register).

The trial, led by experts from the Academy of Military Medical Sciences, gained its approval on March 16 and the research is expected to last half a year.

Requiring at least 108 participants, the trial will be conducted in Wuhan, capital of Hubei province, the region worst-affected by the virus in the country, state-run China Daily reported.

Participants will experience 14-day quarantine restrictions after being vaccinated and their health condition will be recorded every day.

Chinese scientists are hastening the development of COVID-19 vaccines through five approaches --- inactivated vaccines, genetic engineering subunit vaccines, adenovirus vector vaccines, nucleic acid vaccines and vaccines using attenuated influenza virus as vectors.

So far, most teams are expected to complete preclinical research in April and some are moving forward faster, Wang Junzhi, an academician with the Chinese Academy of Engineering said.

Wang noted that research and development of COVID-19 vaccines in China is not slower than foreign counterparts and has been carried out in a scientific, standardised and orderly way.

China has stepped up the process to finalise vaccines to counter COVID-19 after Kaiser Permanente research facility in Seattle and Washington stole the march and began human trials.

China lifted tough restrictions on the Hubei province on Wednesday after a months-long lockdown as the country reported no new domestic cases.

But there were another 47 imported infections from overseas, the National Health Commission said. In total, 474 imported infections have been diagnosed in China -- mostly Chinese nationals returning home.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
January 30,2020

Jan 30: The death toll rose to 170 in the new virus outbreak in China on Thursday as foreign evacuees from the worst-hit region begin returning home under close observation and world health officials expressed “great concern” that the disease is starting to spread between people outside of China.

Thursday’s figures cover the previous 24 hours and represent an increase of 38 deaths and 1,737 cases for a total of 7,711. Of the new deaths, 37 were in the epicenter of the outbreak in Hubei province and one in the southwestern province of Sichuan.

The news comes as the 195 Americans evacuated from Wuhan, the Hubei province city of 11 million where the outbreak originated, are undergoing three days of testing and monitoring at a Southern California military base to make sure they do not show signs of the virus.

A group of 210 Japanese evacuees from Wuhan landed Thursday at Tokyo’s Haneda airport on a second government chartered flight, according to the foreign ministry. Reports said nine of those aboard the flight showed signs of cough and fever. Three of the 206 Japanese who returned on Wednesday tested positive for the new coronavirus, Prime Minister Shinzo Abe said during a parliamentary session. Two of them showed no symptoms of the disease.

France, New Zealand, Australia and other countries are also pulling out their citizens or making plans to do so.

The World Health Organization emergencies chief said the few cases of human-to-human spread of the virus outside China — in Japan, Germany, Canada and Vietnam — were of “great concern” and were part of the reason the U.N. health agency’s director-general was reconvening a committee of experts on Thursday to assess whether the outbreak should be declared a global emergency.

The new virus has now infected more people in China than were sickened there during the 2002-2003 SARS outbreak.

Dr. Michael Ryan spoke at a news conference in Geneva on Wednesday after returning from a trip to Beijing to meet with Chinese President Xi Jinping and other senior government leaders. He said China was taking “extraordinary measures in the face of an extraordinary challenge” posed by the outbreak.

To date, about 99% of the cases are in China. Ryan estimated the death rate of the new virus at 2%, but said the figure was very preliminary. With fluctuating numbers of cases and deaths, scientists are only able to produce a rough estimate of the fatality rate and it’s likely many milder cases of the virus are being missed.

In comparison, the SARS virus killed about 10% of people who caught it. The new virus is from the coronavirus family, which includes those that can cause the common cold as well as more serious illnesses such as SARS and MERS.

Scientists say there are many questions to be answered about the new virus, including just how easily it spreads and how severe it is.

In a report published Wednesday, Chinese researchers suggested that person-to-person spread among close contacts occurred as early as mid-December.

“Considerable efforts” will be needed to control the spread if this ratio holds up elsewhere, researchers wrote in the report, published in the New England Journal of Medicine.

More than half of the cases in which symptoms began before Jan. 1 were tied to a seafood market, but only 8% of cases after that have been, researchers found. They reported the average incubation period was five days.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.